(MENAFN- GlobeNewsWire - Nasdaq) 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.Dublin, April 07, 2025 (GLOBE NEWSWIRE) -- 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
Alibaba (China inc. all brands) 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
By Consumer Segment (Retail and Corporate) By Product Categories (13 Segments) By Retail Sectors (7 Segments)
Gift Card Market Size by KPIs across Consumer Segments
Gross Load Value Transaction Value Unused Value Average Value Per Transaction Transaction Volume Average Value of Card Purchased Number of Cards
Gift Card Market Size by Consumer Segment
Retail Consumer Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size
By Retail Consumer By Retail Purchase Occasion By Corporate Consumer By Corporate Purchase Occasion By Company Size
Gift Card Market Size by Retail Consumer
By Functional Attribute By Occasion Festivals & Special Celebration Days Milestone Celebration Self-Use Other Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics
Consumer Purchase Behaviour Gift Card Buyer by Age Group Gift Card Buyer by Income Level Gift Card Buyer by Gender
Gift Card Market Size by Corporate Consumer
By Functional Attribute By Occasion Employee Incentive Sales Incentive Consumer Incentive By Scale of Business
Gift Spend by Product Categories (Split by Retail and Corporate Consumers)
Food & Beverage Health, Wellness & Beauty Apparel, Footwear & Accessories Books & Media Products Consumer Electronics Restaurants & Bars Toys, Kids, and Babies Jewelry Sporting Goods Home & Kitchen Accessories & Appliances Travel Entertainment & Gaming Other
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers)
Ecommerce & Department Stores Restaurants & Bars Supermarket, Hypermarket, Convenience Store Entertainment & Gaming Specialty Stores Health & Wellness Travel
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers)
Gift Card Online Sales Gift Card Offline Sales 1st Party Sales 3rd Party Sales Sales Uplift
Gift Card Purchase by Payment Method
Credit Card Debit Card Bank Transfer Prepaid Card Digital & Mobile Wallet BNPL & Other Digital Payment Cash
Market share by retailers for key countries (95 retailers)
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Asia-Pacific Gift Card and Incentive Card Market
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