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Market Analysis on Gift Cards market, Leather Goods market and Quartz Surfaces market forecasted till 2030

Market Analysis on Gift Cards market, Leather Goods market and Quartz Surfaces market forecasted till 2030

SEATTLE , WASHINGTON, USA, July 15, 2023/ --

Executive Summary
The gift cards market continues to grow due to its convenience and popularity among consumers. As per the latest market research reports, the global gift cards market is expected to grow from USD 414.70 Billion in 2022 to USD 640.30 Billion by 2030, at a CAGR of 6.40% during the forecast period. The increasing use of e-gift cards, rise in demand for loyalty and reward programs, and increasing adoption of smartphones are some of the key factors driving the growth of the gift cards market. The highest growth is expected in Asia Pacific due to the growing adoption of gift cards in countries such as China and India.

The gift cards market is growing rapidly, with many companies benefiting from this significant trend. The competitive landscape of the gift cards market boasts a large number of companies offering a variety of gift cards across various sectors. Some of the significant players in the Gift Cards Market include Amazon, ITunes, Walmart, Google Play, Starbucks, Home Depot, Walgreens, Sephora, Lowes, Carrefour, JD, Best Buy, Sainsbury’s, Macy’s, Virgin, IKEA, H&M, Zara, AL-FUTTAIM ACE, and JCB Gift Card.

Some significant sales revenue figures of the above-listed companies include Amazon with $ 386 billion, Walmart with $ 559 billion, Ikea with $44 billion, and Starbucks with $26.7 billion. These revenue figures demonstrate the exceptional market share and profitability of these companies, and highlight the impact that the Gift Cards Market has on their overall success.

The market for gift cards has expanded over the years and now includes a variety of options to complement the diverse gift-giving needs of consumers. Universal accepted open-loop gift cards allow users to redeem their card at various merchants, allowing them to utilize them in any place where they are accepted. E-gifting, on the other hand, refers to a digital gift card that is sent via email or messaging app. Restaurant closed-loop gift cards can only be utilized at specific dining establishments, while retail closed-loop gift cards can only be redeemed at specific retail outlets. Miscellaneous closed-loop gift cards can be used at merchants within a particular category, such as gas stations or bookstores.

Gift cards have become a popular alternative to giving cash or physical gifts. They are easy to use, store, and ship. They are available in various amounts and can be used for multiple products or services. The application of gift cards includes Restaurant, Department Store, Coffee Shop, Entertainment (Movie, Music), and others. In restaurants, gift cards can be used as payment, and people can offer them as gifts for special occasions like birthdays and anniversaries. Similarly, in department stores and coffee shops, gift cards can be redeemed for product or service purchases. In entertainment, gift cards are used in movie theaters, music stores, and other similar establishments.

The North American region is expected to dominate the gift cards market in the next five years, followed by Asia-Pacific and Europe. The dominance of North America can be attributed to the high adoption rate of gift cards, increased spending on gift cards during holiday seasons, and the growing popularity of digital gifting.

As for the market share percentage valuation, North America is expected to hold around 45% of the global gift cards market share by 2025, with Asia-Pacific at approximately 30% and Europe at approximately 20%. The remaining regions, including Latin America, Middle East, and Africa, are expected to hold the remaining 5% of the market share.

Overall, the global gift cards market is expected to continue its growth trajectory. This growth can be attributed to the increasing acceptance of digital gifting, the rise in promotional activities by retailers and businesses, and the growing need for personalised gifting options.

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Executive Summary
The global leather goods market is experiencing significant growth due to the increasing demand for premium products, rising disposable incomes, and growing fashion consciousness. The market is segmented into bags, footwear, and accessories. The bags segment is expected to dominate the market with a share of over 40% due to the increasing demand for luxury and high-end bags. The market is expected to grow from USD 375.60 Billion in 2022 to USD 686.60 Billion by 2030, at a CAGR of 9.00% during the forecast period., with Asia Pacific being the largest market. Key players in the market include LVMH, Kering, Hermès, Coach, Richemont, Prada, and Capri Holdings. The COVID-19 pandemic has adversely affected the market, with a decline in demand due to store closures and reduced consumer spending.

The global leather goods market is highly competitive, with several players operating in it. The market is dominated by established players, such as LVMH, Kering, Tapestry, Hermes, Burberry, Prada Group, Richemont Group, Belle, Natuzzi, Hugo Boss, Salvatore Ferragamo, CHANEL, AoKang, Red Dragonfly, and Fossil Group.

These companies use the leather goods market to offer premium quality products to customers and to expand their brand portfolios. They invest heavily in R&D, design, and marketing to stay ahead of the competition.

In conclusion, the leather goods market is highly competitive, with several established players operating in it. These companies use the market to offer high-quality leather products to customers, and invest in R&D and marketing to stay ahead in the game. Their revenue figures demonstrate their dominance in this market.

Leather goods are accessories and clothing items made from animal hides. They come in two types: natural leather goods and artificial leather goods. Natural leather goods are made from the rawhide of animals such as cows, sheep, and pigs. They are known for their durability, flexibility, and aesthetic appeal. Natural leather goods have a distinct texture, smell, and color that cannot be replicated in artificial leather goods. They are popular among consumers who appreciate the unique characteristics of leather products.

Artificial leather goods, on the other hand, are made from synthetic materials such as polyvinyl chloride (PVC) and polyurethane (PU). They are designed to imitate the look and feel of natural leather goods. Artificial leather goods are usually more affordable than natural leather goods and are available in a wider range of colors and styles. They are also easier to clean and maintain than natural leather goods. Consumers who are environmentally conscious may prefer artificial leather goods because they do not require the use of animal hides.

Leather goods are used in various applications such as footwear, gloves, clothing, vehicle upholstery, furniture upholstery, luggage, and other leather goods. In footwear, leather is used to make uppers, soles, and other components for different types of shoes and boots. For gloves, leather is used in the production of different types of gloves such as work gloves, dress gloves, and motorcycle gloves. Clothing items made from leather include jackets, skirts, and pants. In the automobile industry, leather is used to cover vehicle seats, armrests, and other interior components. Upholstered furniture, handbags, belts, and wallets are also typically made from leather. The application of leather goods depends on the properties of leather, including its durability, flexibility, and resistance to wear and tear.

Asia Pacific is expected to dominate the Leather Goods market with a market share of approximately 35% by the end of 2025. Europe and North America are also expected to hold significant market share in the Leather Goods market, with a predicted market share of around 25% and 20% respectively. In contrast, the Middle East and Africa and South America regions are expected to witness slower growth, but still hold a notable market share of approximately 10% each. Overall, the global leather goods market is expected to reach a market valuation of approximately $630 billion by 2025, with a compound annual growth rate of approximately 5% during the forecast period.

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Executive Summary
The global quartz surfaces market is anticipated to register a CAGR of 11.21% over the forecast period (2023-2030). The increasing demand for stylish and durable kitchen countertops coupled with the rising trend for outdoor kitchens is driving the market growth. Asia-Pacific is expected to witness substantial growth due to the expanding construction industry and increasing investments in infrastructure development. Moreover, the market is experiencing notable growth owing to the potential benefits of quartz surfaces such as chemical resistance, UV stability, and minimal maintenance requirements. The Quartz Surfaces Market is expected to grow from USD 9.80 Billion in 2022 to USD 20.60 Billion by 2030, at a CAGR of 11.21% during the forecast period.

The Quartz Surfaces Market is highly competitive with a large number of players operating in the market. The market is dominated by few major players such as Cosentino Group, Caesarstone, Hanwha L&C, Compac, Vicostone, DuPont, LG Hausys, Cambria, Santa Margherita, Quartz Master, SEIEFFE, Quarella, Lotte Advanced Materials, Zhongxun, Sinostone, Bitto(Dongguan), OVERLAND, UVIISTONE, Polystone, Meyate, Gelandi, Baoliya, and Qianyun.

According to the company's financial reports, some of the companies' sales revenue figures for the year 2020 are as follows:

1. Cosentino Group: €1.11 billion ($1.3 billion)

2. Caesarstone: $533.9 million

3. Hanwha L&C: KRW 1.76 trillion ($1.6 billion)

4. LG Hausys: KRW 1.38 trillion ($1.2 billion)

5. Cambria: $320 million.

6. Lotte Advanced Materials: KRW 548.4 billion ($491 million)

These companies continue to drive the growth of the Quartz Surfaces Market through product innovation, expansion into new regions, and strategic partnerships and acquisitions. With the increasing demand for durable and eco-friendly materials in residential and commercial settings, the Quartz Surfaces Market is poised for steady growth in the coming years.

Quartz surfaces come in different types and are popular among homeowners, builders, and designers. The two main types of quartz surfaces are engineered and natural. Engineered quartz surfaces are produced by combining ground natural quartz with resin, pigments, and additives. They come in various colors and patterns that simulate the look of natural stone. On the other hand, natural quartz surfaces are extracted and processed from quarries, and they are available in various colors and patterns. Both types of quartz surfaces are ideal for remodeling or new construction projects as they provide durability, low maintenance, and aesthetic appeal.

Quartz surfaces have various applications, including kitchen countertops, facades, flooring, and other decorative purposes. In kitchen countertops, quartz surfaces offer durability, longevity, and high resistance to scratches and stains, making them ideal for daily use. Quartz surfaces can also be used for facades, providing buildings with a sleek and modern appearance. In flooring, quartz surfaces are highly resistant to wear and tear, including high traffic areas.

The fastest growing application segment of quartz surfaces in terms of revenue is kitchen countertops. This is due to the increasing demand for durable and low-maintenance surfaces in modern homes, as well as the availability of a wide range of colors and textures to match any design aesthetic. Additionally, the rise in home renovations and the popularity of open concept floor plans have further boosted the demand for kitchen countertops made from quartz surfaces.

The Asia Pacific region is expected to witness the highest growth rate, driven by the rapid urbanization and industrialization in countries like China and India. The increasing construction activities and rising disposable income of people in the region are further fueling the demand for Quartz Surfaces.

As per market research reports, the expected market share of the Quartz Surfaces market in North America is around 35%, in Europe, it is around 25%, and in the Asia Pacific, it is around 40%.

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Mohit Patil
Prime PR Wire
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