Gift Card and Incentive Card Market Growth Forecast by 2031

Coverage: Gift Card and Incentive Card Market covers analysis By Card Type (e-Gift Card, Physical Card); Consumer Type (Retail Consumer, Corporate Consumer); Distribution Channel (Online, Offline) and Geography

  • Report Code : TIPRE00039150
  • Category : Banking, Financial Services, and Insurance
  • No. of Pages : 150
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The gift card and incentive card market is anticipated to expand at a CAGR of 13.1% from 2023 to 2031. Increase in demand for digital gifting options among customers to drive the gift card and incentive card market.

Gift Card and Incentive Card Market Analysis 

With increasing investment from major players, such as Blackhawk Network and InComm Payments, the global gift card and incentive card market has been growing steadily. This has helped the gift card industry expand globally, along with the emergence of creative fintech companies. The publisher anticipates that these companies will increase their investment in the gift card market and form strategic partnerships in order to fuel their expansion, given the anticipated continued increase in consumer and corporate demand for gift cards and incentive cards. 

Gift Card and Incentive Card Industry Overview

  • A prepaid card with a predetermined amount of money loaded onto it is called a gift card. It can be used to pay for goods at certain shops, online retailers, or dining establishments that take that specific card. Retail stores and other enterprises can buy gift cards to give as presents, or the receiver can buy them for their own use. Gifts of these are frequently given on holidays, birthdays, and other special events. Gift cards are practical because they free the recipient to select what they wish to purchase and remove the giver's requirement to make educated guesses about the recipient's preferences.
  • The gift card and incentive card market represents a thriving sector within the extensive retail and consumer incentives industry. These cards have become a popular choice for rewarding and gifting customers, employees, and partners.

Strategic Insights

Gift Card and Incentive Card Market Drivers and Opportunities

 

Increase In Demand For Digital Gifting Options Among Customers To Drive the Gift Card and Incentive Card Market.

  • The gift card and incentive card market is being driven mostly by the rise in user demand for digital gifting choices. These cards offer consumers a simple and practical way to buy gifts for friends, family, and coworkers, and they may be purchased online or in-store. The market is also significantly influenced by the growing usage of gift cards as incentives and rewards, as well as customer preferences for experiences over material presents, further driving the gift card and incentive card market growth.

Gift Card and Incentive Card Market Report Segmentation Analysis

  • The closed-loop card segment experienced the biggest increase based on the card type. This is explained by the fact that a business may boost customer loyalty and brand awareness by providing closed-loop gift cards since consumers are likely to identify the card with that particular brand. Furthermore, because closed-loop gift cards may be used at a specific store and are not redeemable for cash, they are a practical and simple present option for customers. Furthermore, because closed-loop gift cards may only be used at certain locations, there is less chance of fraud associated with them than open-loop gift cards, which can be used anywhere.  Therefore, the closed-loop card segment is boosting the gift card and incentive card market growth.

Gift Card and Incentive Card Market Share Analysis By Geography

The scope of the gift card and incentive card market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific (APAC) is experiencing rapid growth and is anticipated to hold a significant gift card and incentive card market share. The region's significant economic development, growing population, and increasing focus on financial inclusion across diverse economies have contributed to this growth. Furthermore, the advent of technology has made it easier for consumers to purchase and use gift cards in the APAC. Gift cards may now be purchased online and redeemed through a mobile device with the rise of e-commerce and mobile commerce.

Gift Card and Incentive Card Market Report Scope

The "Gift Card and Incentive Card Market Forecast" was carried out based on card type, consumer type, distribution channel, and geography. In terms of card type, the market is segmented into e-gift cards and physical cards. Based on consumer type, the gift card and incentive card market is segmented into retail consumers and corporate consumers. Based on the distribution channel, the market is bifurcated into online and offline. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

 

Gift Card and Incentive Card Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the gift card and incentive card market. A few recent key market developments are listed below: 

  • In December 2023, Pine Labs’ Qwikcilver, a leading provider of end-to-end gift card and stored value solutions in Southeast Asia and India, and Foodpanda, Asia’s largest food and grocery delivery network (outside of China), partnered to launch Foodpanda Gift Cards. This enhanced solution enables Foodpanda customers to redeem and cart out purchases easily.

[Source: Foodpanda, Company Website]

 

Gift Card and Incentive Card Market Report Coverage & Deliverables

The market report on “Gift Card and Incentive Card Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-

  • Market size & forecast at global, regional, and country- level for all the key market segments covered under the scope.
  • Market dynamics such as drivers, restraints, and key opportunities.
  • Key future trends.
  • Detailed PEST & SWOT analysis
  • Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
  • Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
  • Detailed company profiles.
REGIONAL FRAMEWORK

Gift Card and Incentive Card Market Report Analysis

Gift Card and Incentive Card Market

  • CAGR (2023 - 2031)
    13.1%
  • Market Size 2023
    US$ XX million
  • Market Size 2031
    US$ XX million

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • Apple Inc
  • Amazon.com Inc
  • Aldi Group
  • Carrefour SA
  • Sodexo
  • EbixCash
  • QwikCilver
  • LivQuik
  • Igp
  • eVoucher India Pvt Ltd

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

By Card Type
  • e-Gift Card
  • Physical Card
By Consumer Type
  • Retail Consumer
  • Corporate Consumer
By Distribution Channel
  • Online
  • Offline
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
MARKET PLAYERS

Gift Card and Incentive Card Market Report Scope

Report Attribute Details
Market size in 2023 US$ XX million
Market Size by 2031 US$ XX million
Global CAGR (2023 - 2031) 13.1%
Historical Data 2021-2022
Forecast period 2023-2031
Segments Covered By Card Type
  • e-Gift Card
  • Physical Card
By Consumer Type
  • Retail Consumer
  • Corporate Consumer
By Distribution Channel
  • Online
  • Offline
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Apple Inc
  • Amazon.com Inc
  • Aldi Group
  • Carrefour SA
  • Sodexo
  • EbixCash
  • QwikCilver
  • LivQuik
  • Igp
  • eVoucher India Pvt Ltd
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    What is the estimated market CAGR for the global gift card and incentive card market?

    The global gift card and incentive card market is expected to grow at a CAGR of 13.1 % during the forecast period 2023–2031.

    Which are the key players holding the major market share of the gift card and incentive card market?

    The key players holding majority shares in the global gift card and incentive card market are Carrefour SA; Apple Inc; Amazon.com Inc; Sodexo; and Aldi Group.

    What are the future trends of the Global gift card and incentive card market?

    The growth of personalized and experiential gift cards is anticipated to play a significant role in the global gift card and incentive card market in the coming years.

    What are the driving factors impacting the global gift card and incentive card market?

    The increase in demand for digital gifting options among customers is the major factors that propel the global gift card and incentive card market.

    • Apple Inc
    • Amazon.com Inc
    • Aldi Group
    • Carrefour SA
    • Sodexo
    • EbixCash
    • QwikCilver
    • LivQuik
    • Igp
    • eVoucher India Pvt Ltd

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

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    • Validates and strengthens in-house secondary research findings
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    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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