Gifts Novelty and Souvenirs Market Size, Share & Outlook to 2033

Gifts Novelty and Souvenirs Market Overview

The Gifts Novelty and Souvenirs Market size was valued at USD 102571.93 million in 2024 and is expected to reach USD 129906.54 million by 2033, growing at a CAGR of 2.6% from 2025 to 2033.

The global Gifts, Novelty, and Souvenirs market is a dynamic sector encompassing a diverse range of products, including souvenirs, novelty items, seasonal decorations, greeting cards, and giftware. In 2024, the market was valued at approximately USD 134.56 billion and is projected to reach USD 198.33 billion by 2030. This growth is driven by factors such as the rising tourism industry, increasing e-commerce penetration, and growing demand for personalized and experiential gifting. The market caters to various occasions and customer preferences, making these items popular choices for both personal use and gifting.

Key Findings

Top Driver Reason: Rising tourism industry and increasing e-commerce penetration are primary drivers of market growth.

Top Country/Region: North America holds the largest market share, valued at USD 13.35 billion in 2024.

Top Segment: Souvenirs and novelty items dominate the product segment, driven by demand from tourists and local consumers.

Gifts, Novelty, and Souvenirs Market Trends

The Gifts, Novelty, and Souvenirs market is witnessing several notable trends. Consumers are increasingly seeking unique and personalized gifts. This trend is fueled by the rise of social media, which has made it easier for people to share photos and videos of their gifts. As a result, consumers are more likely to choose gifts that will make a statement and stand out from the crowd. There is a growing emphasis on sustainable and eco-friendly souvenirs, as well as a surge in demand for personalized and experiential gifts. Consumers are increasingly looking for gifts that are unique and personalized. The development of online marketplaces makes it possible for consumers to easily look for and buy all kinds of gifts. As a result, online sales of gifts and souvenirs became an increasingly popular option. The rising popularity of experiential gifting, such as cooking classes, wine tastings, and spa treatments certificates, is contributing to the increase in growth rates in the Gifts, Novelty, and Souvenir Market.

Gifts, Novelty, and Souvenirs Market Dynamics

DRIVER

Rising tourism industry and increasing e-commerce penetration

The global Gifts, Novelty, and Souvenirs market is driven by the rising tourism industry, increasing e-commerce penetration, personalization trends, corporate gifting, and demand for experiential gifts. The growing consumer interest in ethical and sustainable products are the key drivers of growth in the global market.

RESTRAINT

Fluctuating consumer preferences and economic conditions

The market faces challenges such as fluctuating consumer preferences and economic conditions, which could impact spending in the gifts and novelty sector. The greeting cards segment is experiencing a decline due to digital competition, with the global market for Greeting Cards estimated at USD 17.2 billion in 2023 and projected to be valued at USD 14.5 billion by 2030, declining at a CAGR of -2.4% from 2023 to 2030.

OPPORTUNITY

Growth in personalized and tech-enhanced souvenirs

Advancements in personalized and tech-enhanced souvenirs, such as AR-enabled postcards and digital keepsakes, are enhancing consumer engagement. E-commerce expansion and cross-border online shopping have made souvenirs more accessible to global buyers. With the increasing preference for experience-based and destination-themed gifting, the souvenir segment continues to thrive, shaping the future of the market.

CHALLENGE

Rising costs and expenditures

The market is challenged by rising costs and expenditures, which can impact profitability. For instance, Card Factory reported that while it boosted revenue, profit dipped amid rising costs. Additionally, the greeting cards segment is experiencing a decline due to digital competition, with the global market for Greeting Cards estimated at USD 17.2 billion in 2023 and projected to be valued at USD 14.5 billion by 2030, declining at a CAGR of -2.4% from 2023 to 2030.

Gifts, Novelty, and Souvenirs Market Segmentation

By Type

Online Retail: Online retail is the selling of presents, novelty items, and mementos via websites and e-commerce platforms. This channel supports the expanding trend of digital shopping by offering convenience, a large selection of options, and the flexibility to shop from any location.
Offline Retail: Offline retail includes traditional brick-and-mortar stores, specialty gift shops, and tourist attractions. These stores offer a more personalized shopping experience and allow customers to physically examine the products before purchasing.

By Application

Souvenirs and Novelty: Souvenirs and novelty items account for the largest share in the application segment, driven by the booming travel and tourism industry. In 2024, international tourist arrivals exceeded 1.4 billion globally, directly fueling demand for region-specific souvenirs such as keychains, miniature landmarks, magnets, and local art pieces. Novelty products, such as pop culture merchandise and quirky gifts, have gained traction among Gen Z and millennials. With tourist spending on mementos reaching over USD 52 billion annually, this segment continues to see strong demand.
Seasonal Decorations: Seasonal decorations represent a major application, especially during festive occasions like Christmas, Halloween, Easter, Diwali, and New Year. In the United States alone, consumers spent over USD 9.2 billion on Halloween-related items in 2023, including themed décor and novelty gifts. Retailers globally witness a surge in sales during holiday seasons, where decorative and gift items are bundled or customized for occasions. The trend of theme-based home decoration for holidays is expected to keep driving this segment.
Greeting Cards: Despite a decline in demand due to the rise of digital messaging and e-cards, traditional greeting cards still maintain a loyal consumer base. The UK greeting card market alone saw around 600 million cards sold in 2023. Innovative formats like musical, pop-up, and personalized cards continue to contribute to category resilience. However, the overall global greeting card market showed a decline, reaching approximately USD 14.5 billion in 2024 compared to USD 17.2 billion in 2023.
Giftware: Giftware includes a wide array of products such as mugs, frames, candles, jewelry boxes, and collectibles. This category benefits from events like birthdays, weddings, anniversaries, and corporate gifting. In 2024, nearly 74% of consumers in North America and Europe reported purchasing giftware items at least once every quarter. The integration of giftware with personalization, such as engraved or monogrammed items, has significantly boosted this segment.
Others: This includes unique items that do not fall into conventional categories, such as prank gifts, 3D printed tokens, and subscription-based gift boxes. The rise in influencer marketing and unboxing trends has given this category momentum, particularly among younger demographics. Innovation and novelty remain the key growth enablers for this sub-segment.

Gifts, Novelty, and Souvenirs Market Regional Outlook

The Gifts, Novelty, and Souvenirs market demonstrates varied regional performance across the globe, driven by cultural preferences, consumer income levels, and tourism activity.

North America

North America remains the leading market, with the United States contributing over USD 13.3 billion in sales in 2024. High consumer spending, robust tourism (domestic and international), and a mature retail infrastructure support market expansion. Events like Thanksgiving, Christmas, and Valentine’s Day drive seasonal purchases. According to surveys, over 79% of Americans engage in gift shopping at least six times a year. Additionally, Canada’s rising souvenir purchases from heritage tourism and indigenous craft markets contribute further to regional strength.

Europe

Europe is a prominent region owing to its rich cultural heritage and thriving tourism sector. In 2024, France, Spain, Italy, and the UK were among the top five global tourist destinations, generating high demand for local souvenirs. The UK gift market alone witnessed over 1.4 billion greeting cards sold annually. Germany saw increased demand for personalized novelty items, particularly around the Christmas markets that draw millions of shoppers annually. Eastern European markets are also emerging as new hubs due to increasing disposable incomes and urbanization.

Asia-Pacific

Asia-Pacific shows the fastest growth rate, driven by rapid urbanization, increased disposable income, and expanding e-commerce platforms. Countries like China, Japan, South Korea, and India dominate the market due to their vast populations and diverse cultural festivals. In India, the Diwali gifting market alone was valued at over USD 4.3 billion in 2024. China’s focus on cultural gifting and corporate gifts saw rapid expansion, especially in online formats. Southeast Asian countries such as Thailand and Vietnam are experiencing rising demand from both local consumers and tourists.

Middle East & Africa

The Middle East & Africa market is showing steady growth with rising retail infrastructure and tourism in countries like UAE, Saudi Arabia, and South Africa. Dubai’s retail and souvenir market alone contributed over USD 1.8 billion in 2024, driven by high tourist footfall. Traditional souvenirs such as Arabic calligraphy art, perfumes, and ornaments are in high demand. Africa’s souvenir market is expanding with support from local artisan clusters and government initiatives promoting cultural exports.

List of Top Gifts, Novelty, and Souvenirs Market Companies

American Greetings
Card Factory
Hallmark
Spencer Gifts
Alibaba Group

Top Two Companies with Highest Market Shares

American Greetings: American Greetings is one of the largest greeting card manufacturers in the world, offering a wide range of gift products, including ecards, gift wrap, and party goods. In 2024, the company maintained a distribution network in over 100 countries and processed nearly 1 billion units of cards globally.
Card Factory: Based in the UK, Card Factory operates over 1,000 stores and has been expanding its e-commerce presence rapidly. In 2023, the company reported selling more than 350 million greeting cards and over 50 million units of giftware. Despite cost challenges, it maintained a strong customer retention rate and entered partnerships for personalization services.

Investment Analysis and Opportunities

Investments in the Gifts, Novelty, and Souvenirs market are steadily growing, with venture capital and private equity firms targeting high-margin product categories and personalized gift startups. In 2023, over USD 1.5 billion was invested globally in gift-related digital platforms and customization technologies. Several retail chains are investing in smart retail technologies. For instance, leading companies have introduced AI-powered in-store recommendation systems to enhance personalized gift shopping experiences. This is being complemented by augmented reality (AR) tools that allow users to preview home décor items virtually. The online souvenir segment has become an investment magnet, especially in Asia-Pacific and North America. Regional governments and travel portals are collaborating to create digital souvenir stores that offer exclusive merchandise tied to cultural landmarks. These partnerships are particularly active in India, Japan, and the UAE. Corporate gifting is another lucrative area attracting investor interest. Surveys in 2024 show that 85% of companies worldwide include customized gifts as part of their employee engagement and brand marketing efforts. Investment in platforms that streamline B2B gift ordering and delivery is growing rapidly. Additionally, innovation in eco-friendly gift solutions—such as biodegradable gift wrap, recyclable novelty items, and locally sourced artisanal gifts—has opened new green investment channels. Sustainable brands have recorded 20–25% higher sales year-over-year in Western markets, encouraging further funding. Marketplaces are also expanding their international logistics to cater to cross-border gifting needs, and investments in global warehousing and supply chain optimization were estimated at over USD 850 million in 2024 alone.

New Product Development

Innovation remains the heart of competition in the Gifts, Novelty, and Souvenirs market. Major brands and startups alike are introducing a variety of new product lines to capture consumer attention. In 2023, augmented reality (AR)-enabled greeting cards were launched in over 20 countries, combining traditional cards with 3D digital experiences that can be viewed through smartphones. These AR cards experienced a 28% higher sell-through rate compared to standard cards during the 2023 holiday season. Smart souvenirs, like location-based QR-coded merchandise that links to personalized travel videos or voice notes, were introduced in key tourist destinations including Paris, Dubai, and Tokyo. These items experienced a 45% increase in tourist purchases year-over-year. Eco-conscious giftware made from bamboo, hemp fabric, and biodegradable plastics has been launched across global markets. In 2024, the top five eco-gift brands in the US saw combined unit sales exceeding 14 million items. Consumers in the 18–35 age group led this trend. Companies also launched subscription boxes for novelty items and gifts targeting specific hobbies such as cooking, yoga, and pets. These boxes, priced between USD 25 to USD 60 per month, achieved subscriber bases exceeding 2 million globally. Additionally, gift customization platforms integrated AI-driven personalization tools, enabling customers to auto-generate product ideas based on recipient profiles. These platforms reduced product return rates by 35% and improved customer satisfaction scores by 22%.

Five Recent Developments

Telegram “Gifts” Digital Feature Launch (Oct 2024): In October 2024, Telegram introduced a “Gifts” feature enabling users to send animated digital artwork with personalized messages. These assets can be showcased on profiles and exchanged for “Stars,” the app’s in‑app currency, marking a shift toward monetized digital gifting ecosystems.
Disney Parks’ NFC-Enabled Souvenirs (2024): In 2024, Disney Parks rolled out NFC-enabled souvenirs allowing visitors to unlock exclusive digital content linked to their physical keepsakes. This integration of physical and digital extends guest engagement post-visit and promotes higher unit purchases.
Gift Kya De in Amazon Propel Accelerator (May 2024): Gift Kya De, an eco-friendly and customized gift startup, was recognized among the top 54 startups in Amazon’s Propel Accelerator Season 4 in May 2024. The program evaluated over 900 entries, demonstrating strong innovation and sustainability focus in the gifting space.
Mars Wrigley India Launches GALAXY Jewels (July 2024): In July 2024, Mars Wrigley India unveiled “GALAXY Jewels,” a premium gift line with disruptive packaging aimed at elevating gifting occasions. The launch garnered attention for its packaging innovation and high perceived value.
Home Centre’s “Speaking Gifts” Diwali Campaign (Oct 2024): In October 2024, Home Centre introduced its ‘Speaking Gifts’ campaign for Diwali, featuring products that convey audio messages when activated. The campaign highlighted the rising consumer appetite for experiential and interactive gifting during key festive periods

Report Coverage of Gifts, Novelty, and Souvenirs Market

This comprehensive report covers the entire value chain of the Gifts, Novelty, and Souvenirs market, offering insights into manufacturing, distribution, consumer behavior, and technological innovation. The scope spans across product categories including greeting cards, souvenirs, novelty items, seasonal decorations, giftware, and emerging segments like smart and eco-friendly gifts. Market performance data is analyzed region-wise, with deep dives into North America, Europe, Asia-Pacific, and Middle East & Africa. The report considers both online and offline retail formats, assessing the evolution of consumer preferences across platforms. The study evaluates major applications, identifying trends in corporate gifting, personalized merchandise, and festive sales cycles. It analyzes consumption behavior and spending patterns across demographic segments including age, income level, and geographic location. Competitive profiling includes leading players such as American Greetings and Card Factory, with emphasis on product portfolio, innovation strategies, and market share. The report also outlines capital flow trends, highlighting venture-backed innovations and private equity deals shaping the market landscape. Recent developments, emerging challenges, and future growth opportunities are presented, supported by quantitative data on volume sales, unit costs, and market penetration. The report provides actionable intelligence for stakeholders including manufacturers, retailers, investors, and policymakers.