Gift Cards (B2B) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2032 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global gift cards (B2B) market is witnessing dynamic evolution as businesses across industries adopt digital and personalized gifting solutions. Gift cards have become a preferred tool in corporate incentives, employee rewards, and client engagement strategies. Their flexibility, convenience, and ease of distribution make them a powerful alternative to traditional corporate gifts, particularly in today’s digital-first environment.

Market Overview

The B2B gift cards market is projected to expand significantly, from a valuation of US$360.6 Bn in 2025 to US$674.54 Bn by 2032. This growth reflects a robust compound annual growth rate (CAGR) of 9.36% during the forecast period. The increase in online transactions, growth of corporate reward programs, and rising consumer inclination toward digital formats are some of the major contributors to the market’s positive trajectory.

Market Drivers

Corporate Incentives and Employee Rewards

Companies are increasingly leveraging gift cards as a versatile and effective solution for incentive and recognition programs. These cards offer recipients the autonomy to select products or services that suit their preferences, enhancing employee motivation and client satisfaction.

Shift Toward Digital Gifting

The demand for digital gift cards continues to rise due to their instant delivery, easy redemption, and compatibility with online platforms. Businesses benefit from reduced operational overheads, while recipients enjoy convenience. This transition aligns with broader trends in digital payments and mobile wallet usage.

Corporate Gifting Sector Growth

With companies focusing on improving employee engagement and client retention, the corporate gifting sector is booming. Gift cards serve as a strategic addition to this ecosystem, offering businesses a scalable and customizable reward mechanism that enhances brand loyalty and professionalism.

Business Opportunities

Integration with Loyalty Programs

Integrating gift cards into customer loyalty schemes presents a significant opportunity. This approach not only rewards repeat customers but also helps businesses acquire new clients through promotional offerings. The combined value proposition enhances overall customer lifetime value and retention rates.

Expansion Across E-commerce Platforms

The growing popularity of e-commerce and online marketplaces opens new avenues for gift card sales. Businesses are tapping into these platforms to reach broader audiences and increase brand visibility. Collaborating with major e-commerce players allows gift card providers to seamlessly integrate their offerings into everyday consumer behavior.

Regional Outlook

North America

North America, particularly the United States, leads global market share. The region’s mature digital infrastructure, coupled with a strong culture of employee incentives and non-cash rewards, fuels continuous demand for B2B gift cards. Companies are increasingly investing in customized, branded solutions to enhance internal and external engagement.

Europe

In Europe, personalization is a defining trend. Businesses in the UK and other European markets are adopting bespoke gift card programs to cater to specific customer and corporate needs. Customization of card designs, themes, and denomination amounts is becoming a key differentiator.

Asia Pacific

India represents one of the fastest-growing markets, driven by its youthful population and growing digital literacy. Millennials and Gen Z consumers are shifting toward practical gifting solutions, preferring the flexibility of gift cards over traditional options. The rapid adoption of e-wallets and digital payments supports this trend.

Latin America

Brazil’s thriving retail sector plays a crucial role in the region’s gift card adoption. The expansion of hypermarkets, specialty retail chains, and digital payment methods in urban areas supports broader use of gift cards in both B2B and consumer-facing channels.

Middle East and Africa

While still developing, the market in the Middle East and Africa is gaining traction. Businesses are beginning to adopt modern employee recognition strategies, and the rising penetration of smartphones and internet connectivity will accelerate adoption of digital gift card platforms in these regions.

Key Companies and Competitive Analysis

The global gift cards (B2B) industry is characterized by strategic partnerships, technology-driven offerings, and growing investments in personalization. Industry leaders are enhancing their portfolios through digital innovations and acquisitions.

Major players in the market include:
• Amazon.com, Inc.
• Best Buy Company, Inc.
• Starbucks Corporation
• Target Corporation
• Walmart Stores
• QwickSilver Solutions
• National Gift Card Corporation
• InComm
• Gyft
• Edge Loyalty Systems Pty. Ltd.
• Blackhawk Network Holdings, Inc.
• Edenred Group
• The Up Group

Recent Developments

In May 2024, Pine Labs announced a partnership with Google Wallet, enabling users to store and manage gift cards directly within the Google Wallet app. This integration enhances the user experience and encourages point-of-sale usage.

In July 2024, Air India introduced Air India Gift Cards, allowing customers to share the joy of travel. These e-cards can be used for domestic and international flight bookings and offer thematic customization for occasions such as birthdays and anniversaries.

Challenges in the Market

Limited Awareness and Promotion

One of the primary challenges is the lack of awareness among businesses about the advantages of B2B gift card programs. Without targeted marketing and effective outreach, companies may overlook the potential of integrating gift cards into their reward systems.

Competitive Pressure and Brand Differentiation

The market is highly competitive, and businesses must maintain strong branding and seamless experiences to remain relevant. Those failing to innovate or promote their offerings may struggle to maintain market share in a saturated environment.

Market Segmentation

By Merchant Type
• Restaurants
• Department Stores
• Grocery Stores
• Supermarkets/Hypermarkets
• Discount Stores
• Coffee Shops
• Entertainment
• Salons/Spa
• Book Stores
• Home Décor Stores
• Gas Stations
• Visa/MasterCard/American Express Gift Cards
• Others

By Type
• Universal Accepted Open Loop
• Restaurant Closed Loop
• Retail Closed Loop
• Miscellaneous Closed Loop
• E-Gifting

By End-User
• Businesses
• Small and Medium Enterprises
• Large Enterprises
• Individuals

By Price Range
• High (Above US$400)
• Medium (US$200–400)
• Low (Up to US$200)

By Sales Channel
• Online
• Offline

By Region
• North America
• Europe
• Asia Pacific
• Middle East
• Oceania
• Africa

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