Global Gift Card Market Size, Share & Forecast (2020-2035)
The global gift card market is poised for robust expansion from 2025 to 2035, driven by the growing adoption of digital payments, rising e-commerce penetration, and the increasing popularity of customizable gifting solutions. Gift cards are a prepayment mechanism offered by retailers or banks, enabling recipients to redeem products or services. They are categorized as closed-loop cards restricted to specific merchants and open-loop cards valid across multiple platforms, including reloadable and e-gift cards. Gift cards serve numerous uses spanning retail purchases, employee rewards, loyalty incentives, and travel, facilitated by technology-enabled delivery through online and offline channels. Businesses leverage gift cards to retain customers, foster brand loyalty, and drive incremental sales. The market is shaped by innovation in mobile wallets, the shift toward contactless transactions, and the integration of gift cards within corporate incentive programs.
Latest Market Dynamics
Key Drivers
- Surging Digital Payment Adoption: The widespread use of smartphones and mobile wallets is fueling digital gift card adoption. For instance, Apple Pay and Google Pay recently reported a significant increase in gift card purchases via their platforms in Q2 2024.
- Booming E-commerce Sector: Online retail continues to propel gift card sales, with Amazon's expansion of digital and reloadable cards contributing to higher consumer engagement and gifting convenience.
Key Trends
- Personalized and Customizable Cards: Personalized gift cards leveraging customer data and shopper behavior have been gaining traction. Walmart rolled out themed and occasion-based e-gift cards in June 2024 to enhance the customer experience.
- Integration with Loyalty Programs: Brands are merging gift cards with loyalty and rewards platforms. Starbucks announced upgraded integration of digital gift cards within its loyalty ecosystem in July 2024.
Key Opportunities
- Expansion in Emerging Markets: Gift card providers tap into high-growth APAC and African markets where smartphone adoption is accelerating. Google launched Play Store gift cards in Vietnam and Nigeria in August 2024.
- Corporate Incentive Programs: There is a surge in corporate use of gift cards for employee recognition and customer loyalty campaigns. Target and Best Buy both increased their B2B gift card program partnerships for enterprise clients in mid-2024.
Key Challenges
- Fraud and Security Risks: Increasing incidents of digital gift card fraud require investment in advanced security measures. Apple introduced enhanced verification for Apple Store cards in June 2024.
- Breakage (Unused Balances): The challenge of unredeemed balances impacts merchants’ financial forecasts. Amazon updated its policy and added reminders to minimize breakage in July 2024.
Key Restraints
- Regulatory Complexities: Diverse legal frameworks across countries present compliance challenges for global players. Tesco reported increased compliance costs in the EU region mid-2024.
- Limited Offline Market Penetration: In regions with low digital infrastructure, offline adoption remains slow. Carrefour cited infrastructure barriers as a limiting factor in parts of Africa as of July 2024.
Global Gift Card Market Share, By Type, 2025
In 2025, closed-loop cards make up the largest portion of the gift card market, reflecting their popularity for in-store rewards and branded loyalty programs. Open-loop cards follow as versatile, cash-like options for wide shopping needs, while digital wallet and e-gift cards show rapid growth due to convenience and expanding online use cases. Consumers and corporate buyers both favor reloadable cards and digital certificates for their flexibility, driving technology-enhanced innovation in this segment.
Global Gift Card Market Share, By Application, 2025
Retail application dominates global gift card consumption in 2025, accounting for more than one-third of total market share. The corporate segment has seen notable growth as businesses increasingly embrace gift cards for employee incentives and client gifting strategies. Food & Beverage and Travel segments continue to gain traction as travel rebounds and dining experiences integrate gift and reward systems. Consumer incentives and employee rewards are steadily rising, fueled by HR tech integrations and loyalty program advancements.
Global Gift Card Market Revenue (USD Million), 2020-2035
The global gift card market is estimated to reach USD 568,000 million in 2025, up from USD 312,000 million in 2020, and is projected to exceed USD 1,163,000 million by 2035. This growth trajectory reflects increased adoption across digital and physical platforms, with businesses and consumers leveraging gift cards for convenience, personalization, and incentives. Major contributing regions include North America, APAC, and Europe, with emerging markets steadily increasing their share through digital access and mobile wallet penetration.
Global Gift Card Market YoY Growth (%), 2020-2035
Year-on-year growth in the global gift card market remains robust, averaging between 10% and 13% during 2020-2025. While the pace slightly moderates to 7-8% from 2030 onward as the market matures, the sector is expected to sustain healthy expansion owing to continual product innovation and geographic diversification. Peak growth is attributed to post-pandemic digitalization and the widespread incorporation of e-gift solutions across corporate and retail verticals.
Global Gift Card Market Share, By Region, 2025
North America leads the global market, holding a dominant share owing to advanced digital payment infrastructure and extensive corporate adoption. Asia-Pacific rapidly gains ground, driven by rising e-commerce and mobile wallet usage, with China and India at the forefront. Europe maintains a sturdy position, benefiting from regulatory support and innovation. Other regions, including South America, Middle East, and Africa, contribute incrementally as digital access improves.
Global Gift Card Market Share, Top Players, 2025
Leading players in the global gift card market include Amazon, which commands the highest share through its broad e-gift card offerings and worldwide reach. Walmart follows closely, leveraging its vast retail network and digital initiatives, while Apple consolidates its presence through integrated payment platforms. Other contenders like Google, Starbucks, and major retail conglomerates bolster market competition by innovating loyalty and digital gift solutions.
Global Gift Card Market Share, By Buyer Type, 2025
The retail consumer segment has the largest share of the global gift card buyer landscape in 2025, driven by surge in personal gifting and redemption via online channels. Corporate buyers represent a strong and fast-growing segment, driven by extensive use for employee rewards and client incentives. SMEs and institutional buyers show rising adoption, attributed to digitized HR and loyalty strategies.
Study Coverage
| Metrics | Details |
|---|
| Years | 2020-2035 |
| Base Year | 2025 |
| Market Size | 568000 |
| Regions | North America, Europe, Asia-Pacific, South America, Middle East, Africa |
| Segments | By Type (Closed-Loop, Open-Loop, E-Gift Cards, Reloadable Gift Cards, Gift Certificates, Digital Wallet Gift Cards), By Application (Retail, Corporate, Consumer Incentives, Employee Rewards, Travel, Food & Beverage), By Distribution Channels (Online, Offline, Mobile Apps, Third-Party Retailers, Direct, Others), By Technology (Magnetic Stripe, Smart Card, Near Field Communication (NFC), QR Codes, Barcodes, Others), By Organization Size (Small, Medium, Large) |
| Players | Amazon, Walmart, Apple, Google, Target, Starbucks, Tesco, Best Buy, Carrefour, Home Depot, IKEA, Lowe’s, Metro AG, CVS Health, Walgreens Boots Alliance |
Key Recent Developments
- July 2024: Starbucks introduced enhanced digital integration for gift cards, allowing customers to auto-link their e-gift cards with the Starbucks app for rewards.
- June 2024: Apple upgraded its security protocols for Apple Store Gift Cards, reducing fraud through biometric verification.
- August 2024: Google expanded its Play Store gift card offering to Vietnam and Nigeria, targeting emerging markets with strong smartphone adoption.
- July 2024: Amazon implemented automated reminders for unredeemed gift cards to lower breakage rates and enhance customer engagement.
- June 2024: Tesco reported compliance cost increases in the EU for digital gift card operations amid evolving regulatory requirements.
