Gifts, Novelty and Souvenirs Sector
The gifts, novelties, and souvenirs sector is a sector that produces and sells various souvenirs, interesting and innovative products, and memorabilia. It also includes household goods called “housewares”. This sector is responsible for the production and sale of exciting and entertaining products that can be used for various purposes. Such products are popular choices for people to celebrate special occasions, to give thoughtful gifts to friends and loved ones, or to preserve their own memories.
In general, this sector can be said to be a sub-branch of consumer goods. Businesses in the “consumer goods” sector strive to market and distribute products by diversifying them according to consumer needs and preferences. Innovative designs, quality products and marketing strategies that appeal to the target audience are one of the keys to success in this sector.
What Does the Gift, Novelty and Souvenir Sector Produce?
The gifts, novelties, and souvenirs sector have endless creativity. The fact that it has the capacity to produce a product for every area that people need makes it a versatile and rich sector. Here are some categories and examples of the product groups of this sector:
- Souvenirs: Gift options with different designs and messages suitable for personal preferences and tastes.
- Toys and Games: Fun games, brain teasers, puzzles, etc. for children and adults.
- Decorative Products: Various objects, frames, candles and trinkets for home and office decoration.
- Souvenirs: Souvenirs, badges, magnets, etc. sold to visitors in touristic areas or at important events.
- Personal Accessories: Accessories such as jewellery, watches, wallets, hats, etc.
Houseware is a category that includes items necessary for domestic use and examples of products produced in this area:
- Kitchen Utensils: Pots and pans, cutting knives, kitchen utensils and accessories.
- Tableware: Plates, cutlery, glasses, saucers, etc.
- Home Organisation Products: Storage boxes, drawers, shelving systems, wardrobe organisers.
- Bathroom Accessories: Towels, soap dishes, toothbrush holders, bath mats, etc.
- Cleaning Supplies: Brooms, mops, cleaning cloths, cleaning chemicals, etc.
Gifts, Novelty and Souvenirs Sector Report
According to Proficient Market Insights:
- The worldwide market for Gifts and Novelties achieved a value of USD 94,970 million in 2022 and is projected to reach USD 114,260 million by 2029, indicating a Compound Annual Growth Rate (CAGR) of 2.6% over the forecast period spanning from 2023 to 2029.
- Europe has emerged as the primary driving force in the global souvenirs market, experiencing a significant surge in demand. This upswing can be attributed to several factors, including the flourishing tourism industry across the region and a rising appetite for premium and personalized gifts in key countries such as the UK, France, Italy, Spain, and Germany.
The largest manufacturers of Gifts Novelty and Souvenirs Market worldwide:
- Amazon
- JC Penney
- Carrefour
- Walt Disney
- Card Factory
- Macy’s
- Walmart
The sector size is projected to reach Multimillion USD by 2029, In comparison to 2022, at an unexpected CAGR during 2022–2029.
According to Research and Markets:
During the forecast period from 2022 to 2026, the gifts, novelty, and souvenirs market is expected to experience substantial growth, with a projected increase of $13.04 billion.
The market is anticipated to accelerate at a Compound Annual Growth Rate (CAGR) of 3.4%, highlighting the positive trajectory and potential for expansion in the industry.
In addition, the constant emergence of new products and creative designs will increase competition in the sector. Consumers have become very active in the search for interesting and unique products and therefore innovation and differentiation are of great importance in the sector.
However, there are also some potential challenges that could affect the future of the sector. For example, global economic fluctuations and changes in consumer spending may affect the growth potential of the sector. In addition, the increasing importance of environmental and sustainability issues may require more attention from the industry in terms of the production and packaging of products.
What are the Gift, Novelty and Souvenirs Trade Shows?
There are many trade shows dedicated to souvenirs, novelties, consumer goods and souvenirs. Some of these world-renowned exhibitions are listed below:
Ambiente: It held annually in Frankfurt, Germany. it stands as one of the premier trade shows in the home and consumer goods industry worldwide. The event attracts a diverse array of exhibitors, including suppliers, manufacturers, designers, and retailers, who showcase their latest products and innovations in various categories such as dining, kitchenware, home decor, gift items, and more.
With its expansive exhibition space and wide range of product offerings, Ambiente Frankfurt provides an excellent platform for networking, business opportunities, and market insights. It attracts a large number of international visitors, including retailers, wholesalers, interior designers, and industry professionals, making it a significant global meeting point for the sector.
HKTDC Hong Kong Houseware Fair: It held annually in Hong Kong, this trade show is one of the largest and most important events for the home and consumer goods industry in Asia, featuring products from suppliers and manufacturers in the region.
Maison & Objet: Held twice a year in Paris, France, this trade show is one of the largest and most important events for the home decor and interior design industry, showcasing products and solutions for the sector.
The International Home + Housewares Show: It held annually in Chicago, Illinois, USA. This trade show is one of the largest and most important events for the home and consumer goods industry in North America, featuring products and solutions for the sector.
NY NOW: NY NOW is a biannual trade show held in New York City, United States. It is one of the leading and largest marketplaces for home, lifestyle, and gift products in North America. The fair showcases a vast range of innovative and trendsetting products from various categories, including home furnishings, home textiles, decorative accessories, gifts, stationery, jewelry, and more.
Spring Fair: It is one of the UK’s largest and most prominent trade shows for the gift and home industry. The show features an extensive selection of products, including home decor, giftware, kitchen and dining items, home textiles, toys, stationery, and more.
Which Sector Companies Can Participate in the Gift, Novelty and Souvenirs Trade Shows?
Gifts, novelty and souvenirs industry exhibitions are important events where manufacturers, sellers and buyers in the sector come together to introduce new products and create marketing opportunities. These exhibitions are of great importance for discovering the latest trends in the sector, establishing business contacts, expanding the customer base and increasing sales volume. Home decoration and textile companies, lighting product manufacturers, kitchenware manufacturers, natural stone and wood processing manufacturers, fashion and textile companies can participate in these trade shows.
Discover New Business Horizons with DixiFuar!
Exhibitions are a platform where creative thinking and innovative products are encouraged and competition increases. If you are interested in exhibitions in this sector to discover new business opportunities, increase sales volume and market products, DixiFuar is at your service to facilitate your business. Thanks to its customer-oriented approach, professional team members and extensive networks, DixiFuar effectively manages companies' participation in exhibitions and ensures success. Contact us now and join the gift, novelty and souvenirs sector exhibitions with advantageous tour packages including flights, hotels and transfers that can be customized!
