LONDON--(BUSINESS WIRE)--The global gifts novelty and souvenirs market size is poised to grow by USD 16.33 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 5% during the forecast period.
Read the 130-page research report with TOC on "Gifts Novelty And Souvenirs Market Analysis Report by product (souvenirs and novelty items, seasonal decorations, greeting cards, and other gift items), distribution channel (offline and online) and geography (the Americas, APAC and EMEA) 2019 - 2023" at:
https://www.technavio.com/report/global-gifts-novelty-and-souvenirs-market-industry-analysis
The market is driven by technological advances leading to product innovation and premiumization. Also, the increase in inbound international tourism is anticipated to further boost the growth of the market during the forecast period.
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Technological advances that lead to product innovation and premiumization is one of the major factors driving the growth of the gifts novelty and souvenirs market. Consumers are increasingly demanding modern products that compliment contemporary interiors and lifestyles. This has compelled vendors to constantly invest in R&D and launch innovative products that can sustain in the market. Moreover, there is a high demand for premium gift items, which include home décor products, seasonal decorations, photo frames, and other gift items that can appeal to modern sensibilities.
Inbound and outbound tourism has been growing at a rapid pace, which in turn has led to an accelerated demand for gifts and souvenirs. Therefore, the growth in international tourism is expected to push the demand for gifts, novelty items, and souvenirs, which will drive the growth of the market.
To find out more about Gifts Novelty and Souvenirs Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR30158
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- American Greetings
- Card Factory
- Hallmark Licensing
- Spencer Gifts
- Walt Disney Company
Market Segmentation by Product:
The Gifts Novelty and Souvenirs Market can be broadly categorized into the following:
- Souvenirs and novelty items
- Seasonal decorations
- Greeting cards
- Other gift items
Key Regions for the Gifts Novelty and Souvenirs Market:
Featuring a breakdown of region-wise market shares until 2019.
- Americas
- APAC
- EMEA
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports on Consumer Discretionary Market are:
Gifts Retailing Market – Global Gifts Retailing Market by distribution channel (online and offline) and by geography (the Americas, APAC, and EMEA).
Photo Merchandising Market – Global Photo Merchandising Market by products type (wall décor, photo cards, calendars, and photo gifts), by distribution channel (offline and online), and by geography (the Americas, APAC, and EMEA).
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