DUBLIN--(BUSINESS WIRE)--The "Gift Card - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Gift Card Market to Reach US$2.7 Trillion by the Year 2027
Amid the COVID-19 crisis, the global market for Gift Card estimated at US$1 Trillion in the year 2020, is projected to reach a revised size of US$2.7 Trillion by 2027, growing at a CAGR of 14.5% over the analysis period 2020-2027.
Universal Accepted Open Loop, one of the segments analyzed in the report, is projected to grow at a 15.4% CAGR to reach US$747.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the E-Gifting segment is readjusted to a revised 15.5% CAGR for the next 7-year period. This segment currently accounts for a 11% share of the global Gift Card market.
The U.S. Accounts for Over 26.9% of Global Market Size in 2020, While China is Forecast to Grow at a 19% CAGR for the Period of 2020-2027
The Gift Card market in the U. S. is estimated at US$278.8 Billion in the year 2020. The country currently accounts for a 26.95% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$608.1 Billion in the year 2027 trailing a CAGR of 18.9% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.3% and 12.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.4% CAGR while Rest of European market (as defined in the study) will reach US$608.1 Billion by the year 2027.
Restaurant Closed Loop Segment Corners a 24.9% Share in 2020
In the global Restaurant Closed Loop segment, USA, Canada, Japan, China and Europe will drive the 13.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$193.7 Billion in the year 2020 will reach a projected size of US$474.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$404.8 Billion by the year 2027, while Latin America will expand at a 16.2% CAGR through the analysis period.
The publisher brings years of research experience to this 7th edition of the report. The 290-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- Amazon. com, Inc.
- Apple, Inc.
- Best Buy Company, Inc.
- Carrefour Group
- eBay Inc.
- H&M Hennes & Mauritz Retail Pvt. Ltd.
- Home Depot, Inc.
- J Sainsbury plc (Sainsbury's Gifts)
- Lowe's Companies, Inc.
- Macy's, Inc.
- McDonald's Corporation
- Netflix, Inc.
- Starbucks Corporation
- Wal-Mart Stores, Inc.
Total Companies Profiled: 41
For more information about this report visit https://www.researchandmarkets.com/r/z636qd