The market for party supplies gives a general overview of the sector based on important factors like market size, sales, and key drivers. The operations of numerous firms in the sector around the nation are covered by the market study. The research is a perfect synthesis of qualitative and quantitative data that highlights significant market changes, industry difficulties, and new business possibilities in the Party supplies market. The report uses real data from the projected time period. The research also includes a picture of the market’s general possibilities and difficulties.
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With a projected CAGR of 8.8% between 2021 and 2027, the market for party supplies worldwide was estimated to be worth $12,657.9 million in 2019 and is expected to increase to $20,291.7 million by 2027. The demand for party supplies is expected to increase over the forecast period as a result of the growth of the wedding planning and event management industries globally. Additionally, a lot more environmentally friendly products are becoming offered to the market for party supplies, which is likely to aid in its growth in terms of value sales during the anticipated era.
The demand for party supplies with cartoon character themes has expanded along with children’s expanding understanding. Changes in fashion and trends, theme parties, increased awareness, an increase in disposable income, innovation and technology, broad categories of supplies, commercial use of supplies, distinctive designs, and variations in colour and material are all contributing to the growth of the global market for party supplies. The most popular trends in the party supply industry right now include theme parties, latex and mylar balloon use, and events and gatherings.
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Due to the surge in consumer use of online platforms or e-commerce for party supply purchases, the e-commerce category is also predicted to experience the quickest growth in terms of value sales throughout the projection period for the party supplies market. This is due to the simplicity of finding various brands, styles, and types of party goods on online marketplaces. Additionally, online businesses provide time-saving features and the option of home delivery, which has caused customers to favour them. Additionally, because of the COVID-19 pandemic, people have refrained from leaving their houses and from going to busy places like supermarkets and hypermarkets. The distribution of party goods through internet retailers has increased as a result.
Principal results of the study
- By product type, the tableware/disposables sector held the largest market share for party supplies in 2019. From 2021 to 2027, it grew at a CAGR of 6.4%.
- The domestic use application held the largest market share in 2019 and is projected to increase at a CAGR of 8.5% from 2021 to 2027.
- The supermarket/hypermarket segment had the largest market share by distribution channel in 2019, and it will continue to grow at a 7.6% CAGR from 2021 to 2027.
- North America held the largest share of the global market for party supplies in 2019 and is anticipated to continue to lead the market during the forecast period.
The key players operating in the global party supplies industry include Party City, Unique Industries, Martha Stewart, American Greetings, Pioneer Worldwide, Hallmark, Shutterfly, Artisano Designs, Chinet, and Oriental Trading Company.
The report’s main conclusions include:
- An interpretation of the party supply industry, coupled with current trends and projected valuations to support investment opportunities.
The leading revenue-generating segment, as well as regional trends and opportunities; Qualitative evaluation of market drivers, challenges, and trends; - Regulatory procedures and development trends;
- Company profiles, as well as their financial information and investment plans;
- Evaluation of recent developments and strategies, as well as their effects on the market.
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