INR 250,000 Crores is the size of corporate gifting market in India, of which INR 12,000 Cr. belongs to corporate gift which is growing over 200% per annum
INDIA: THE BIGGEST GROWTH MARKET
Corporate, Premium & Novelty Gifts
Lifestyle, Apparels & Luggage
Lifestyle and apparel market continues to grow owing to growing consumer class, rapid urbanization and changing fashion trends. Luggage industry estimated to reach INR 20,000 Cr by
Stationery, Writing Instruments & Office Supplies
The overall Indian stationary industry is growing at the rate of 8% a year, with new products & formats being added in every now and then.
Gadgets & Electronics
The Indian gadgets & electronics industry is one of the largest markets in the world anticipated reaching $ 400 bn and become the fifth largest in the world by 2025. 100% FDI is allowed under the automatic route.
Houseware, Kitchenware & Home Décor
Houseware, Kitchenware & Home Décor market has witnessed phenomenal growth, particularly in the last 10 years. The kitchenware industry is also growing at a rate of 6-7% and is expected to grow further.
Food & Confectionery
The Indian confectionery market amounts to US$11,567m in 2019 and is expected to grow annually by 6.7% (CAGR 2019-2023). Food and beverages is the biggest of the consumption categories. The beverage industry, excluding alcoholic beverages, is worth about $16 billion.
Beauty, Health & Wellness
India is also the second largest consumer market in the world. The compounded annual growth rate of the beauty and wellness business in India has been around 18%
MARKET GROWTH DRIVERS
Corporate and business houses from pharmaceutical, lifestyle, tourism, IT, food & confectionery, health & beauty sectors are driving the demand and are the biggest buyers of corporate gifts, stationery and office supplies.
Key growth drivers include growing middle-class population, rising disposable income, improving lifestyle, increase in literacy, burgeoning corporate offices and overall growth in socio-economic scenario across the nation. These have resulted to an increase in demand for corporate gifts, premium stationery, office supplies, gadgets, luggage, houseware, kitchenware and home décor commodities.