What is Wedding and Anniversary Gift Market?
Wedding and anniversary gifts are the gifts that are given to the couple during a wedding ceremony or are given by couples to each other. These are generally fueled by traditional values and social norms, wedding and anniversary gifts have special meaning and place in an individualís life, and people spend a significant amount of time and money in procuring them. The growing population of millennials approaching the age of marriage and rising fashion consciousness among them is expected to supplement the demand for wedding and anniversary gifts. The Asia Pacific, with over 600 million millennial population, accounts for the largest number of young population which in turn provides a lucrative opportunity for wedding and anniversary gift manufacturers.
The market study is being classified by Type (Household Goods (Durable Goods), Decoration, Perfume, Accessories, Food & Beverage, Picture Frames, Candles and Others) and major geographies with country level break-up.
Bespoke Wedding Gift Company Ltd. (United Kingdom), PrinterStudio.com (United States), Chocomize, Inc. (United States), Thompson Mug Co. (United States), Vera Wang Bridal House Ltd. (United States), Instyle Beauty Group (United States), B+D Custom Crafts (United States), Boston Creative Company (United States), Artifact Uprising (United States), The Yankee Candle Co., Inc. (United States) and Hallmark Cards, Inc. (United States) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Wedding and Anniversary Gift market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Wedding and Anniversary Gift market by Type, Application and Region.
On the basis of geography, the market of Wedding and Anniversary Gift has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increased Penetration of the Internet
- Increasing Demand for Traditional and Customized Gifts
- Growth in the Spending on Wedding and Anniversary Gifts by the Middle-Income Families
- Growing Youth Population Worldwide
- Introduction of Innovative Wedding and Anniversary Gifts
- Coronavirus pandemic has affected the market negatively as the government has imposed lockdown. Due to this the weddings and other events have been canceled or postponed
- Increasing Disposable Income is Boosting the Market Growth
- Manufacturers Are Focusing on Couple Bracelets like Platinum or Diamond Love Bands
- The Rising Awareness and Varieties about Wedding and Anniversary Gifts
- Availability of various Substitutes
Key Target AudienceManufacturers of Wedding and Anniversary Gift, Suppliers and Distributors of Wedding and Anniversary Gift, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others
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