Gift Cards Market is predicted to reach USD 3,736.6 million at a CAGR of 18.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “global Gift Cards Market”.

The gift cards market is estimated to register a CAGR of 18.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global gift cards market— Fiserv, Inc., Givex Corporation, Blackhawk Network, InComm Payments LLC, Walmart Inc., Amazon.com Inc., American Express Company, Qwikcilver Solutions Pvt Ltd., Paytronix Systems, Inc., PayPal, Inc.

Gift Cards Market Highlights

The global gift cards market is accounted to register a CAGR of 18.20% during the forecast period and is estimated to reach USD 3,736.6 Billion by 2032.

The market for gift cards is a vibrant one that offers a practical and adaptable gifting solution. It provides a large range of gift cards for different shops, eateries, websites, and services so that recipients can select their chosen goods or experiences. Gift cards are now a preferred choice for special occasions, holidays, and incentives as a result of their increasing popularity, making them an important component of the culture of modern gift-giving.

Segment Analysis

The global gift cards market has been segmented into card type and end-user.

On the basis of card type, the market is segmented into closed-loop card and open-loop Card. Closed-loop card segment accounted for the largest revenue share in 2022. Since closed loop gift cards may only be used at one store or with one corporate brand, gift card recipients are more likely to use them, which is advantageous for businesses.

Based on end-user, the global gift cards market has been segmented into retail establishment and corporate institutions. Retail establishment segment dominated the global gift cards market in 2022. Since its inception, the retail sector has had to deal with challenges like client loss, personnel management and motivation, and keeping up with changing consumer needs.

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Regional Analysis

The global gift cards market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe gift cards market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The gift cards market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World gift cards market comprises of Middle East, Africa, and Latin America.

The North America gift cards market dominated this market in 2022 (45.80%). This is a result of policies adopted by the government that support the substitution of digital payments for cash in a number of industries, including retail, banking, hospitality, and corporate institutions. The use of digital gift cards has expanded in the United States and Canada, there has been an increase in omnichannel marketing for gift card programs, and the market for gift cards in the region is growing as a result of technical advancements in product offerings.

Moreover, in 2022, the Europe gift cards market held a sizable portion of the overall market. As a result of many prepaid programs introduced by an Italian post office called Postepay, gift cards are now more well-known and in demand in the area. The growth of gift cards in Germany and Italy is being driven by the rising use of these cards for online shopping, travel, and gifting them to youngsters in place of cash.

Additionally, The Asia Pacific Gift Cards market is expected to register significant growth from 2023 to 2032. The rise in internet usage, the steep rise in computer literacy, and the high level of disposable income all contribute to this explanation. A number of factors, such as gift-giving around the holidays, occasion-based giving, personalized giving, and corporate giving, affect the demand for gift cards.

Furthermore, the rest of the world's gift cards market is divided into the Middle East, Africa, and Latin America. The Latin America gift cards market is a rapidly growing sector that meets the rising demand for convenient gifting options in the region. It offers a diverse array of gift cards for popular local and international stores, as well as digital platforms and services. As the popularity of gift-giving increases, the market provides an accessible and versatile solution for celebrations, holidays, and incentives, making it an integral part of the gifting culture in Latin America.

Key Findings of the Study

• The global gift cards market is expected to reach USD 3736.61 Billion by 2032, at a CAGR of 18.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. The demand for gift cards is influenced by a variety of factors, including holiday gifting, occasion-based gifting, personalized gifting, and corporate gifting.


• Based on end user, the retail establishment segment was attributed to holding the largest market in 2022.


• Fiserv, Inc., Givex Corporation, Blackhawk Network, InComm Payments LLC, Walmart Inc., Amazon.com Inc., American Express Company, Qwikcilver Solutions Pvt Ltd., Paytronix Systems, Inc., PayPal, Inc.