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India Gifting Market Industry: Insights into Supply Chain Optimization and Cost Efficiency by 2029 | TechSci Research

According to TechSci Research report, India Gifting Market – By Region, Competition, Forecast & Opportunities, 2029F,” The gifting market in India is a vibrant and growing industry, with a wide range of products and services being exchanged as gifts for various occasions.

There are several factors that are driving the growth of the gifting market in India. One of the main factors is the increasing disposable income of consumers, which is leading to greater spending on gifts for family and friends. Additionally, the growth of e-commerce and online gifting platforms has relatively made it easier for people to purchase and send gifts to their loved ones across the country.

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The Indian gifting market is segmented into various categories, including personal and corporate gifting. Personal gifting includes gifts for occasions such as birthdays, weddings, anniversaries, and festivals like Diwali and Christmas. Corporate gifting, on the other hand, involves gifts given by companies to their employees, clients, and business partners.

The range of gifts available in the Indian market is diverse and includes traditional items such as sweets, chocolates, and flowers, as well as modern gifts like gadgets, apparel, and personalized items. Personalized gifts such as photo frames, mugs, and key chains are also becoming increasingly popular among consumers.

The India Gifting market is segmented based on purpose, type, distribution channel and region. Based on purpose, the market is segmented into corporate gifting and personal gifting. Based on type, the market is segmented into souvenirs, personal accessories, decorative items, greeting cards, e-gift vouchers, and others (flowers and plant gifts, etc.). Based on distribution channel, the market is segmented into local shops, exclusive outlets, multi branded shops, online and non-retail sales (direct, distributor/dealers, etc.). Based on region, the market is divided into north, south, east, and west.

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The online channel has experienced significant growth in recent years, fueled by the rise of e-commerce platforms. Online shopping provides convenience, a vast selection of products, and the ability to compare prices and read customer reviews. This channel has gained popularity among tech-savvy consumers who prefer the ease of shopping from the comfort of their homes.

Key market players in the India Gifting market include:

  • Archies Limited,
  • Ferns N Petals Pvt Ltd.
  • Miniso Life Style Private Limited
  • Sparket Marketing Pvt Ltd
  • Bansal Importer Pvt. Ltd.
  • FA Gifts Private Limited
  • Hallmark India Pvt. Ltd.
  • Chumbak Design Pvt. Ltd.
  • Join Ventures Private Limited (IGP)
  • GiftstoIndia24x7.com

In 2022, Chumbak, a company specializing in home décor, had introduced a designer holiday collection for dining and home décor along with curated gift sets. The Kasuti art of Karnataka served as the inspiration for Chumbak’s holiday collection, which also incorporates season’s colors and a contemporary Indian touch.

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“The India Gifting market is primarily driven by the increasing variety of products and changing consumer behavior towards personalized gifting. As Indians become more affluent, they are willing to spend more on gifts for their family and friends. Additionally, the rise of e-commerce and online gifting platforms has made it easier for people to purchase and send gifts to their loved ones across the country. The growth of the middle class, the increasing number of occasions that call for gifting, and the emergence of personalized and unique gifting options have also contributed to the growth of the Indian gifting market. Finally, the rapid adoption of technology and social media has created new opportunities for businesses to connect with customers and personalize the gifting experience, further fueling the growth of the Indian gifting market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

 India Gifting Market Size, By Purpose (Corporate Gifting and Personal Gifting), By Type (Souvenirs, Personal Accessories, Decorative Items, Greeting Cards, E-Gift Vouchers, Others (Flowers and Plant Gifts, etc.)), By Distribution Channel (Local Shops, Exclusive Outlets, Multi Branded Shops, Online and Non-Retail Sales (Direct, Distributor/Dealers, etc.)), By Region, Competition, Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of Gifting market in India and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India Gifting market.

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