Provider of Personalized Gifts in Minneapolis is Explaining Projected Industry Growth

Minneapolis – Viking Trophies is a large provider of custom awards, but they also specialize in personalized gifts. They recently took note of a report that Technavio put out describing the predicted changes in the personalized gift market. The company concluded that the market will likely grow in the next few years, reaching USD 1.59 billion by 2024. Viking Trophies looks forward to this growth and is excited to be a part of it.

Technavio’s report displays the details of their projection for each plausible scenario, such as optimistic, probable, and pessimistic. However, Technavio predicts that overall, the personalized gift market will experience at least three percent growth by the end of 2021.

The pandemic is likely one of the major contributors to the personalized gift market growth. After experiencing so much stress and heartache throughout the pandemic, people and businesses are seeking out ways to show others their gratitude and that they care. This causes the market to become saturated with gifts, which results in personalized gifts becoming a top choice for many consumers.

Another driver of the personalized gift market growth is the increasing popularity of custom items in niche areas, such as personalized songs, personalized podcasts, and personalized coolers. In addition, as technology advances, producers have the ability to create a wider range of personalized items through new means. A great example of this is 3D printing. Custom 3D printed products are becoming more popular, further adding to the personalized gift market. With all these niche areas entering the personalized gift market, the growth that Technavio predicts will likely come mostly from non-photo items.

Viking Trophies is a provider of custom trophies, personalized plaques, custom apparel, name badges, personalized gifts, business promotional products, and corporate awards. They strive to provide their customers with the highest quality products at the best prices. For more information, give Viking Trophies a call today at (763) 537-3422 or visit their website at https://www.vikingtrophies.com/.