Vietnam’s gift card market has experienced strong growth, recording a compound annual growth rate (CAGR) of 17.8 percent between 2020 and 2024. This momentum is expected to continue, with the market projected to grow at a CAGR of 13.2 percent from 2025 to 2029, reaching an estimated value of US$1.43 billion by the end of the forecast period, according to Research and Markets.
The market’s expansion is being driven by the increasing adoption of digital solutions, deeper integration into e-commerce platforms, and a growing trend toward cashless payments. Government initiatives promoting digital transactions are accelerating this shift, making gift cards a more accessible and convenient payment option for consumers, according to the report.
Corporate adoption is also playing a significant role in market growth, as businesses increasingly use gift cards for customer incentives, employee rewards, and loyalty programs. As companies continue to recognize their potential in enhancing consumer engagement and workforce motivation, demand for flexible and personalized gift card solutions is expected to rise.
The report also says that over the next few years, Vietnam’s gift card industry is set to expand further, fueled by advancements in digital commerce and strategic investments from businesses. The integration of gift cards into online retail platforms and corporate reward programs will likely boost market adoption, positioning gift card providers for sustained growth in Vietnam’s rapidly evolving digital economy.
See also: Technology in Vietnam: Industry Overview