India Gift Cards Market Size, Share, Price, Growth, Report, Forecast 2022-2027

The new report by Expert Market Research titled, ' India Gift Cards Market Growth, Share, Size, Trend, Report and Forecast 2022-2027', gives an in-depth analysis of the India gift cards market, assessing the market based on its segments like card types, products, business types, applications, and distribution channels.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

Forecast CAGR (2022-2027): 18%

The gift cards market is being driven by the rising demand for gift cards in the corporate sector.As it is crucial to construct a strong business strategy by engaging customers and bolstering the company-employee relationship in the corporate sector, gift cards are being highly preferred Gift cards are immune to loss, theft, and duplication, due to which they are safe and convenient, which is propelling the market growth.

Moreover, the growing digitalization in the food and beverage, health, wellness and beauty, and media products industries, among others, is likely to propel the demand for digital gift cards. Sellers to generate revenue in advance, which is anticipated to aid the market growth in the forecast period.

Industry Definition and Major Segments

Gift cards refer to debut cards in the form of a smart cards that can be exchanged for a specified cash value of goods or services or products. They contain a specific amount of money available for use for variety of purchases. They are extensively utilised by various businesses to bolster the cash flow and enhance revenue generation.

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On the basis of card type, the market is divided into:

Closed-Loop Card
Open-Loop Card

Based on product, the industry is segmented into:

Digital Gift Card
Physical Gift Card

The industry, based on business type, can be divided into:

Business to Business (B2B)
Business to Consumer (B2C)

The significant applications of gift cards include:

Food and Beverages
Health, Wellness, and Beauty
Apparel, Footwear, and Accessories
Books and Media Products
Consumer Electronics
Restaurant and Bars
Kids Products
Others

The different distribution channels of the product include:

Retail
Corporate
Others

Market Trends

Rapid technological advancements in the information technology sector in tier-1 and tier-2 cities of India is likely to be a key trend in the market for gift cards. The easy transfer of gift vouchers and fluent cash flow offered by technological advancements are projected to fuel the market growth. The increasing penetration of artificial intelligence (AI) in the corporate sector is likely to be another key trend in the market for gift cards in India. Moreover, the rising investments in the corporate sector in tier-1 Indian cities such as Bangalore, Delhi and Mumbai are anticipated to propel the market growth over the forecast period.

Key Market Players

The major players in the market are Plasto Cards Private Limited, Creative Cards Solutions, Creation Technics India Private Limited, Plastic Loyalty Cards, and Arahan Infotech among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.