The new report by Expert Market Research titled, ‘Global Party Supplies Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global party supplies market, assessing the market based on its segments like product type, application, distribution channel, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 11,306 million
• Forecast CAGR (2023-2028): 8.7%
• Forecast Market Size (2026): USD 18,650 million
North America had the greatest market share of party supplies in 2019. North America has seen an increase in post-wedding couple’s showers and pre-wedding gender-segregated bachelor and bachelorette parties, resulting in market growth over the past several years. The increasing penetration of social media and the internet is one of the key elements fueling this development. Young adults in the region have a strong desire to party, and they use social media platforms such as Facebook and Instagram, among others, to advertise and connect at parties, boosting the party supply business in the region.
The supermarkets and hypermarkets category accounted for a substantial market share in the global party supplies industry based on distribution channel. Due to the wide range selection of consumer items available under one roof, abundant parking space, and convenient operating hours, hypermarkets and supermarkets are becoming increasingly popular.
Furthermore, the popularity of supermarkets and hypermarkets in developed and emerging countries is growing due to urbanisation and competitive pricing. Furthermore, these sites offer a number of brands in a product category, such as party supplies, giving customers more alternatives to purchase various styles, colours, and types of party supplies. As a result, these supermarkets and hypermarkets have substantial foot traffic, which boosts party supply sales.
Party Supplies Industry Definition and Major Segments
The products and accessories needed to plan a party or an event are referred to as party supplies. It is a large category of products used by party planners to create the proper mood for various special occasion parties, such as birthdays, anniversaries, farewells, and so on. These are unique products that are used to decorate party locations. Balloons, invitation cards, candles, banners, and dinnerware are examples of frequent party supplies. Typically, party supplies are chosen in accordance with the party theme in order to make the occasion more meaningful and unforgettable.
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The market can be broadly categorised on the basis of its application:
By product type, the industry is segmented:
• Home Decor
• Take Away Gifts
The market can be broadly categorised on the basis of its distribution channel:
• Hypermarkets and Supermarkets
• Convenience Stores
• Speciality Stores
Regional markets include:
• North America
• The Asia Pacific
• Latin America
• The Middle East
Party Supplies Market Trends
The global party supplies sector is growing due to changing demographics, greater urbanisation, and enhanced lifestyles as a result of rising personal disposable incomes. Modern consumers are eager to go out of their way to commemorate any significant occasion or achievement. In addition, modern parents are increasingly spending on their children’s birthday parties in order to make them special and memorable, which is fueling market growth. Furthermore, many major life events, such as weddings, engagements, and anniversaries, are commemorated with special parties hosted by event management businesses, resulting in an increase in the demand for party supplies.
Furthermore, the number of professional event planners has risen dramatically in recent years to meet the changing expectations of millennial consumers, boosting the business even more. Furthermore, the industry is growing as a result of increased awareness and internet connectivity, which has made party supplies a vital component when planning any type of party. Furthermore, theme parties, in which party supplies are customised to match the theme, are one of the most popular trends in the market, and are likely to continue to grow during the projection period.
Key Market Players
The major players in the market are American Greetings Corporation, Hallmark Licensing, LLC, Martha Stewart, Party City Holdco Inc., Pioneer Worldwide, Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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