According to the latest report by IMARC Group, titled “Party Supplies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global party supplies market size reached a value of US$ 12.1 Billion in 2021. Party supplies refer to a broad category of different items and accessories that are utilized to organize a party or an event. These products are typically used to create the right ambiance for special occasions, including birthdays, anniversaries, and farewells. These events are typically decorated with party supplies that are chosen in accordance with the theme, and most of these items can easily be repurposed. Multiple party supplies, such as invitations, balloons, banners, pinatas, games, cards, home decor, tableware, candles, tents, and umbrellas, add a flair to the party arrangements that help make the event memorable.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Party Supplies Market Trends:
The global market is majorly driven by the escalating demand for event management and wedding planning services among consumers. This can be attributed to inflating disposable income levels of the masses resulting in improved living standards. Likewise, a considerable rise in the numbers of professional event planners to address the evolving needs of millennial consumers is providing an impetus to the market. In addition, the rising trend of theme parties, wherein the supplies can be customized according to the theme, is propelling the market. Moreover, the wide range of product customizations for various types of occasions, along with continual product innovations, are further creating a positive market outlook. Some of the other factors creating lucrative market opportunities include rapid urbanization, the increasing influence of social media marketing campaigns, easy product availability across online and offline organized retail channels, and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 19.8 Billion by 2027, exhibiting a CAGR of 8.10% during 2022-2027.
- Based on the product type, the market has been segmented into balloons, banners, pinatas, games, home décor, tableware/disposables, and others.
- On the basis of the application, the market has been divided into commercial and domestic use.
- Based on the distribution channels, the market has been categorized into supermarkets and hypermarkets, convenience stores, specialized stores, online stores, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include American Greetings Corporation, ArtisanoDesigns, Hallmark Cards Inc., Huhtamäki Oyj, Martha Stewart Living Omnimedia Inc. (Marquee Brands), MyBirthdaySupplies.in, Oriental Trading Company (Berkshire Hathaway Inc.), Party City Holdco Inc., Pioneer Worldwide, Shutterfly LLC, and Unique Industries Inc.
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