Global Party Supplies Market Report 2024-2032, Featuring American Greetings, ArtisanoDesigns, Hallmark Cards, Huhtamaki, MyBirthdaySupplies, Party City Holdco, Pioneer, Shutterfly & Unique Industries
DUBLIN, March 26, 2024 /PRNewswire/ -- The "Party Supplies Market Report by Product Type, Application, Distribution Channel, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global party supplies market size reached US$ 14.2 Billion in 2023 and is forecast to reach US$ 26.1 Billion by 2032, exhibiting a growth rate (CAGR) of 7.0% during 2023-2032. The increasing popularity of themed parties, rising popularity of virtual parties in the corporate sector, and the growing trend of destination weddings and celebrations are some of the major factors propelling the market.
The increasing popularity of themed parties, such as retro, fantasy, and pop culture-inspired themes, is strengthening the growth of the market. Moreover, the rising environmental consciousness among consumers is catalyzing the demand for environment friendly and sustainable party supplies. In addition, the growing popularity of virtual parties in the corporate sector during remote work is influencing the market positively. Apart from this, the emerging trend of destination weddings and celebrations is driving the demand for portable and travel-friendly party supplies around the world. Furthermore, the increasing inclination towards gifting party supplies for special occasions, such as party favors and personalized gifts, is providing a thrust to the market growth.
Party Supplies Market Trends/Drivers:
Increase in social celebrations and events
The demand for party supplies is fueled by the consistent growth in social celebrations and events, such as birthdays, weddings, graduations, and holidays. As individuals and communities place a higher emphasis on commemorating milestones of life and fostering social connections, the need for party supplies, including decorations, tableware, and themed accessories, increases.
Rise in inclination towards online applications and websites
The convenience of online shopping has significantly impacted the party supplies industry. The widespread adoption of e-commerce platforms allows consumers to access a wide range of products, compare prices, and shop at their convenience. This easy accessibility to a diverse selection of party supplies from various sellers is catalyzing the overall demand for these products.
Growing influence of social media
The pervasive presence of social media platforms has significantly impacted the party supplies market. Social media plays a vital role in driving trends, which inspire innovative party themes, and showcasing aesthetically pleasing celebrations. Consumers, eager to create visually appealing events for sharing on social media, are more inclined to invest in trendy and eye-catching party supplies.
North America exhibits a clear dominance, accounting for the largest party supplies market share
The report has also provided a comprehensive analysis of all the major regional markets, which include 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 the Middle East and Africa. According to the report, North America accounted for the largest market share.
The increasing demand for event management services represents one of the primary factors driving the demand for party supplies in the North America region. Moreover, the wide availability of party supplies through online stores is supporting the market growth in the region. Besides this, the growing popularity of theme parties is influencing the market positively in the region.
Asia Pacific is estimated to witness stable growth, owing to the growing influence of social media, rising emphasis on personalization, increasing sales of environment friendly products, etc.
Competitive Landscape:
The leading companies are launching mobile applications that offer a range of features, such as event planning tools, guest list management, budget tracking, and even augmented reality-based decoration previews to simplify the party planning process and ensure a well-organized event.
Moreover, key players and suppliers are now utilizing sustainable materials like biodegradable or recycled paper, compostable tableware, and reusable decorations to manufacture party supplies to reduce environmental impact. They are also incorporating smart lighting and sound systems that allow hosts to easily control and customize the atmosphere. They can also be synchronized with music, and their colors can be adjusted to match the party theme, which creates an immersive experience for guests.
The report has provided a comprehensive analysis of the competitive landscape in the market.
Some of the key players in the market include:
- American Greetings
- ArtisanoDesigns
- Hallmark Cards
- Huhtamaki
- Martha Stewart Living Omnimedia Inc. (Marquee Brands)
- MyBirthdaySupplies
- Oriental Trading Company (Berkshire Hathaway Inc.)
- Party City Holdco
- Pioneer Worldwide
- Shutterfly
- Unique Industries
Report Segmentation
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
For more information about this report visit https://www.researchandmarkets.com/r/eylgjs
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