Global Party Supplies Market 2023 - 2028: Escalating Demand for Event Management and Wedding Planning Services Drives Growth - ResearchAndMarkets.com
From: ResearchAndMarkets.com
The global party supplies market size reached US$ 13.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 21.1 Billion by 2028, exhibiting a CAGR of 8.13% during 2022-2028.
Party supplies are specialty items used by party organizers to decorate and create the right ambiance for party venues. These supplies comprise balloons, party hats, napkins, wall decorations, candles, yard signs, guest books and pens, souvenirs, invitation cards, banners, and tableware.
They are used according to the party theme for making events, such as birthdays, farewells and anniversaries, memorable and can be easily stored for future events. At present, rising environmental concerns among individuals are encouraging the utilization of paper party supplies around the world.
The escalating demand for event management and wedding planning services represent one of the key factors driving the market. Moreover, the increasing trend of theme parties across the globe is propelling the growth of the market. In addition, there is a rise in the celebration of many special events, such as weddings and engagements on account of the growing penetration of the internet and social media.
This, along with the wide availability of party supplies through online stores at a discounted rate and the burgeoning e-commerce industry, is contributing to the growth of the market. Additionally, there is a gradual upliftment of lockdown restrictions on account of the decreasing cases of coronavirus disease (COVID-19) and uptake of vaccination projects by governments of numerous countries.
As a result, parents nowadays are spending on party supplies to celebrate small birthday parties of their children to make them feel special, which is bolstering the growth of the market. Some of the other factors offering lucrative growth opportunities to the key players operating in the market are rapid urbanization, inflating income levels and the growing number of professional event planners.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global party supplies market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, application and distribution channel.
Breakup by Product Type:
- Balloons
- Banners
- Pinatas
- Games
- Home Decor
- Tableware/Disposables
- Others
Breakup by Application:
- Commercial Use
- Domestic Use
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialized Stores
- Online Stores
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa