ResearchAndMarkets.com has announced the addition of the “UAE Gifting Market 2023-2029” report to its offerings. The UAE Gifting Market is expected to grow at a CAGR of 14.7% from 2023 to 2029.
The gifting market in the UAE thrives on its rich and heritage-driven culture, marked by various occasions such as birthdays, anniversaries, corporate events, and religious festivals. With a diverse population of over 60 nationalities, the demand for gifts has significantly expanded, driven by a growing number of occasions and a substantial working-class population.
In recent years, the UAE Gifting Market has seen substantial growth, boosted by increasing tourism and rising disposable incomes. The corporate gifting culture, deep-rooted cultural traditions of gifting in the region, and widespread internet access have also contributed to the market’s robustness.
The COVID-19 pandemic further accelerated e-commerce activities due to lockdowns, influencing the gifting market dynamics. Consumer preference for gifting as a means of expression is expected to remain strong, presenting significant opportunities for the UAE market.
Cash gifts are particularly popular in the UAE, with 52% choosing cash during Ramadan or Eid in 2022, reflecting convenience and relieving the burden of gift selection and shopping.
Market Segmentation:
By Product Types: The non-Combo gift segment dominated the market in 2022, driven by a growing preference for unique and quality gifts among consumers. Digital gifts are expected to grow rapidly, driven by the corporate shift towards digital solutions.
By Sales Channel: Offline sales currently dominate the UAE gifting market due to traditional consumer behavior favoring in-person shopping experiences.
By Regions: Dubai leads the market revenue share, surpassing Abu Dhabi and Sharjah, driven by high disposable incomes and a large elite population. Dubai’s status as a top tourist destination further boosts gifting demand.
By Category: Non-Premium Gifts hold the largest revenue share due to affordability and versatility across various occasions, both personal and corporate.
By Application: The residential sector commands the largest revenue share, driven by numerous gifting occasions within households and the diversity of celebrations across different cultures.
Key Highlights of the Report:
- Market overview, outlook, and forecast for the UAE Gifting Market.
- Historical data from 2019 to 2022 with forecasts up to 2029.
- Impact of COVID-19 on the market.
- Drivers, PESTLE analysis, Porter’s Five Forces, and consumer insights.
- Company profiles and competitive landscape analysis.
For more information on this comprehensive report, please visit ResearchAndMarkets.com.
