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UAE Gifting Market Report 2024: Cash Remains King with Growing Trends Towards Cash Transfers - Analysis & Forecasts 2023-2029 - ResearchAndMarkets.com

The "UAE Gifting Market 2023-2029 Size, Trends, Segmentation, Revenue, Outlook, Companies, Share, Growth, Analysis, Value, Industry & Forecast: Market Forecast By Product Types, By Sales Channel, By Category, By Application, By Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

UAE Gifting Market is projected to grow at a CAGR of 14.7% during 2023-2029.

The gifting market in the UAE thrives predominantly due to the region's rich and heritage-driven gifting culture, complemented by a plethora of occasions such as birthdays, anniversaries, corporate events, and religious festivals. With over 60 nationalities residing in the UAE, the demand for the gifting industry has expanded significantly, fueled by a growing number of occasions for gift-giving and a sizable high-working-class population in the country.

The UAE Gifting Market has experienced substantial growth in recent years, driven by the simultaneous rise in tourism and the escalating disposable income of residents. Additionally, the pervasive corporate gifting culture, rich cultural heritage of gifting in the Arab region and widespread internet access have played crucial roles in fortifying the gifting market in the country.

The onset of the COVID-19 pandemic led to a notable surge in e-commerce activities due to government-imposed lockdowns, further influencing the gifting market. Moreover, the enduring preference of consumers for gifting as a means of expression is anticipated to continue in the foreseeable future, presenting significant prospects for the UAE gifting market.

Cash is a popular gift choice in the UAE, chosen by 52% during Ramadan or Eid as a token of gift in 2022. Additionally, there's a growing trend of cash transfers to guests owing to convenience and relief from the burden of the burden of gift selection and shopping.

Market Segmentation by Product Types

The non-Combo gift type segment held the largest market revenue share in 2022 in the overall UAE Gifting Industry owing to a growing personalized gifting culture with a growing affinity towards unique and quality gifts among consumers across the country. Furthermore, there is an increasing preference among consumers for individualized gifting. However, digital gift types would grow with the highest growth rate on account of the growing corporate gifting culture coupled with a shift towards the digital world and payments.

Market Segmentation by Sales Channel

The offline sales channel dominated the UAE gifting market with the highest market share, primarily due to the preference for traditional consumer behavior, which favors in-person shopping experiences. Additionally, the immediacy of obtaining gifts from stores contrasts with online purchases, where consumers need to wait for product delivery.

Market Segmentation by Regions

Dubai has secured the highest revenue share in the overall UAE Gifting Market, outperforming Abu Dhabi and Sharjah. This trend is anticipated to persist in the future, driven by the city's substantial disposable income and a predominant elite class population. Additionally, Dubai's status as a prime tourist destination is expected to contribute to increased demand for gifting. Together, Abu Dhabi and Dubai jointly account for over 60% of the total gifting market demand in the UAE.

Market Segmentation by Category

Non-Premium Gifts acquired the maximum revenue share owing to its affordability and ease of finding it. Moreover, Non-premium gifts offer versatility, making them suitable for diverse occasions, including personal celebrations and corporate events. Their flexibility eliminates the need for tailored gifts, expanding the range of gifting opportunities.

Market Segmentation by Application

The residential sector secured the largest portion of revenue in the UAE gifting market due to its substantial market share, attributed to numerous gifting occasions like birthdays, anniversaries, private events, and parties. Additionally, with over 60 nationalities residing in the country, and celebrating diverse religious festivals, there is an escalated demand for gifting within households.

Key Attractiveness of the Report

Key Highlights of the Report

Company Profiles

Market Scope and Segmentation

By Product Types

By Sales Channel

By Category

By Application

By Regions

For more information about this report visit https://www.researchandmarkets.com/r/nhgr25

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