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Asia Pacific gift card market future growth dynamics 2025 report issued

Monday, April 21, 2025 — 16:44:17 (UTC)

DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2025 Update" report has been added to ResearchAndMarkets.com's offering.

The gift card market in Asia Pacific is expected to grow by 8.7% on annual basis to reach US$263.4 billion in 2025.

Asia Pacific's gift card market experienced robust growth during 2020-2024, achieving a CAGR of 9.9%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 7.7% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 242.4 billion to approximately USD 354.7 billion.

This report provides a detailed data-centric analysis of the gift card sector in Asia Pacific, covering market opportunities and risks across consumer segments (retail and corporate); product categories; retail sectors; and store formats. With over 100+ KPIs at the regional and country level, this report provides a comprehensive understanding of gift card market dynamics.

It offers a comprehensive analysis of market dynamics in the gift card sector, segmented by digital and e-gift card sales, distribution channels, key occasions, demographic trends, and market share statistics of leading retailers. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.

Key Insights

The Asia-Pacific gift card market is evolving rapidly, driven by mobile payment integration, e-commerce expansion, and government-led digital initiatives. Unlike Europe, where sustainability dominates trends, Asia-Pacific is witnessing accelerated digital adoption, fueled by a young, tech-savvy population and increasing smartphone penetration. Businesses are leveraging gift cards as key tools for financial inclusion, loyalty programs, and alternative payment solutions.

Mobile Payment Integration Boosting Digital Gift Card Adoption

The region's mobile-first economy has propelled the integration of digital gift cards with payment apps such as Alipay, Paytm, and GrabPay. Consumers prefer mobile gift cards due to their seamless transaction capabilities and accessibility. Digital wallets are increasingly replacing traditional physical gift cards, particularly in China and India, where mobile transactions dominate retail purchases. Retailers and fintech companies are partnering to embed gift cards into super-apps, creating an ecosystem where consumers can purchase, redeem, and transfer gift cards through a single interface. Government-Led Cashless Economy Initiatives Driving Market Growth

Several Asia-Pacific governments, including India, Singapore, and South Korea, actively promote cashless payment solutions, accelerating the shift to digital gift cards. Regulations supporting digital transactions, such as India's Unified Payments Interface (UPI) and Indonesia's QRIS system, have facilitated widespread gift card adoption across retail and service sectors. Governments increasingly use prepaid and digital gift cards for subsidies, social benefits, and incentive programs to drive financial inclusion. E-Commerce and Online Shopping Fueling Demand for Gift Cards

The rapid expansion of e-commerce platforms such as Shopee, Lazada, and Flipkart has made digital gift cards a preferred payment and gifting method. Online-exclusive promotions and discounts via digital gift cards drive customer engagement and increase repeat purchases. Cross-border e-commerce growth has encouraged international retailers to introduce gift cards that can be redeemed in multiple countries, catering to an expanding digital consumer base. Corporate Adoption Expanding Beyond Traditional Incentives

Companies in Asia-Pacific are increasingly integrating gift cards into employee rewards programs, moving beyond traditional cash bonuses to flexible, spend-anywhere digital solutions. The rise of the gig economy has led businesses to offer digital gift cards as an alternative payroll and benefits mechanism, particularly for freelancers and contract workers. Large multinational corporations and SMEs are leveraging gift cards to drive customer acquisition, loyalty, and referral programs in the retail, travel, and hospitality sectors. Competitive Landscape of the Asia-Pacific Gift Card Market

The Asia-Pacific gift card market is characterized by strong competition between global players, regional fintech firms, and local retailers. Unlike Europe, where sustainability is a major differentiator, competition in Asia-Pacific is largely centered around technological innovation, seamless integration, and financial accessibility.

Key Market Trends and Players

Super-apps such as WeChat, Grab, and Gojek are integrating gift card services into their platforms, making them more accessible to consumers. Global payment companies like Mastercard and Visa are expanding their prepaid and digital gift card solutions in Asia-Pacific, targeting both businesses and consumers. Fintech startups such as Razorpay in India and Airwallex in Australia are introducing new B2B-focused gift card programs tailored for employee and corporate incentives. Recent Developments and Strategic Partnerships

Alipay partnered with major global brands to expand the acceptance of its digital gift cards for cross-border purchases. Paytm introduced a corporate gift card program targeting SMEs and enterprise clients, reinforcing its role in India's growing digital payment ecosystem. Grab partnered with leading retailers across Southeast Asia to offer GrabPay gift cards, allowing users to seamlessly redeem across multiple merchants within its ecosystem. Outlook for the Next 2-4 Years

Digital-first gift cards will dominate as mobile wallet penetration rises and consumer preference shifts toward app-based transactions. Corporate adoption will accelerate, with businesses increasingly using gift cards for employee benefits, loyalty programs, and cross-border incentives. Government-backed digital payment policies will continue to shape the market, with prepaid and social benefit gift cards gaining traction across multiple economies. E-commerce-driven demand will expand as online retailers continue to promote gift cards as an essential digital payment method. Technological innovation will drive competition, with fintech startups and payment platforms introducing AI-driven personalization, crypto-based gift cards, and integrated loyalty reward systems.

Companies Featured

JD.Com Alibaba (China inc. all brands) Vip.com Yonghui Superstores Group RT Mart Unimart Amazon Samsung Belle (All brands) Wumart Superstore Reliance Retail Amazon India Flipkart Tanishq Croma BigBasket Myntra Nykaa Shoppers Stop Lifestyle Indomaret Alfamart Transmart Carrefour Matahari Department Store Alfa Midi Super Indo Erafone Hypermart Hero Gramedia Amazon Japan Rakuten 7-Eleven Japan Lawson FamilyMart AEON Retail Ito-Yokado Daimaru Matsuzakaya Department Stores Yodobashi Camera Uniqlo Lotus's Malaysia Giant Aeon 99 Speedmart Watsons Mr. D.I.Y. Aeon Big Ikea Apple Guardian Puregold Price Club The SM Store Lazada Mercury Drug Robinsons Supermarket Shopee SM Hypermarket Jollibee Grab FairPrice Group Sheng Siong qoo10 Sephora CapitaLand Malls Courts Harvey Norman emart Homeplus Hypermarket Olive Young Lotte Mart NewCore Outlet Lotte Department Store Shinsegae Department Store Himart Costco Korea CU 7-Eleven Tesco Hypermarket Big C Supercenter Central HomePro Gourmet Market Siam Makro Big C Extra Global house Tops market Key Attributes:

Report Attribute Details No. of Pages 3575 Forecast Period 2025 - 2029 Estimated Market Value (USD) in 2025 $263.4 Million Forecasted Market Value (USD) by 2029 $354.7 Million Compound Annual Growth Rate 7.7% Regions Covered Asia Pacific Report Scope

This report provides in-depth, data-centric analysis of gift card industry in Asia Pacific through 1100+ tables and 3000+ charts, across 10 countries and overall region. Below is a summary of key market segments at regional and country level.

Total Spend on Gifts Gift Card Market Size by KPIs across Consumer Segments Gift Card Market Size by Consumer Segment Digital Gift Card Market Size Gift Card Market Size by Retail Consumer Gift Card Spend by Consumer Behavior and Demographics Gift Card Market Size by Corporate Consumer Gift Spend by Product Categories (Split by Retail and Corporate Consumers) Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) Gift Card Purchase by Payment Method Market share by retailers for key countries (95 retailers) For more information about this report visit www.researchandmarkets.com/r/rukz8b

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