According to a new report published by Allied Market Research, titled, “Party Supplies Market by Product Type, Application, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2027,” The global party supplies market size was valued at $12.7 billion in 2019, and is projected to reach $20.3 billion by 2027, registering a CAGR of 8.8% from 2021 to 2027.
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Party supplies are materials that are required for a party or event. They include various decorative materials such as balloon, games, pinatas, tableware, banners, and others. The party supplies market is experiencing an exponential growth due to emerging fashion and trends. There has been a lot of innovation and utilization of party supplies as accessories, wherein the items are designed according to the occasion. The leading brands produce supplies for occasions such as birthday, graduation, anniversary, Christmas, Halloween, and others. In addition, expansion of distribution channels, such as online stores, supermarkets, hypermarkets, specialized store, and others, has made these party supplies become easily available to customers, thereby contributing to the party supplies market growth.
The global party supplies market is growing rapidly owing to the growing demand for party supplies from event management industry. Event management industry offers amazing experience to the guests that capture the audience’s attention and manages the entire event. To manage various events such as wedding receptions, theme parties, corporate parties, birthday celebrations, house parties, concerts, and so on, appropriate party supplies must be used. As a result, the growing demand for event management raises the demand for eye-catching party supplies like balloons, banners, party masks, hats, candles, lights, and so on. Furthermore, event management companies are experts in providing an appealing customer experience by utilizing innovative color combinations of party supplies such as balloons to create an eye-catching appearance. These factors are anticipated to boost the party supplies market share during the forecast period.
The significant growth in e-commerce platforms during and post-pandemic due to the availability of a variety of products from various party supply manufacturers at competitive prices is expected to drive market demand. Several countries’ lockdown restrictions on social movements have encouraged people to shift to online retail platforms for purchasing various products, including party supplies. Furthermore, the convenience provided by these platforms, such as home delivery, easy payment options, an excellent mobile shopping experience, and others, is expected to increase demand for party supplies. Moreover, various platforms such as Shopify and Amazon have linked their products online with social media sites such as Instagram and Facebook to attract large number of customers. These aspects are anticipated to propel the party supplies market size during the analysis timeframe.
Availability of wide range of attractive and cost-effective party supplies products is estimated to drive party supplies market opportunities in the coming years. For instance, the party favors comprise of various party products such as balloons, candies, bubbles, glasses, glowsticks, keychains, stickers, plush toys, bouncy balls, ribbons, temporary tattoos, lanyards, and others. Also, in recent years the popularity of theme-based party products is increasing rapidly. Based on party theme, such as baby shower, gender reveal party, bridal shower, wedding, bachelorette party, and birthday party, one can easily get the party supplies products.
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According to regional analysis, the North America party supplies market accounted for a highest market share for party supplies majorly owing to the growing prevalence of parties and events across U.S., Canada, and Mexico. The corporate events, including award functions, pre-wedding, and bachelorette party are increasing in this region.
The global party supplies market analysis is segmented into product type, application, distribution channel, and region. By product type, the market is classified into balloons, banners, pinatas, games, tableware/disposables, home décor, take away gifts, and others. By application, the market is divided into commercial use and domestic use. Based on distribution channel, the market is segregated into convenience stores, e-commerce, supermarket/hypermarket, specialized stores, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Furthermore, by sales channel, the e-commerce segment is anticipated to be the fastest-growing segment, in terms of value sales, during the party supplies market forecast period, owing to the rise in use of online platforms or e-commerce for purchase of party supplies among customers. This is attributed to easy availability of different brands, designs, and types of party supplies available through online platforms. Moreover, online store has time-saving features and the facility of home delivery, which made consumers incline toward online stores. In addition, owing to the COVID-19 pandemic, consumers have restrained themselves to go outside their homes and in crowded places such as supermarkets and hypermarket. This has increased the distribution of party supplies through online stores.
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Key findings of the study
- By product type, the tableware/disposables segment accounted for the highest party supplies market share in 2019, growing at a CAGR of 6.4% from 2021 to 2027.
- By application, the domestic use segment accounted for the highest market share in 2019, growing at a CAGR of 8.5% from 2021 to 2027.
- By distribution channel, the supermarket/hypermarket segment accounted for the highest market share in 2019, growing at a CAGR of 7.6% from 2021 to 2027.
- By region, North America occupied maximum share in the party supplies market in 2019 and is expected to dominate 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.