Global Party Supplies Market Expected to Grow Substantially Owing to Easy Availability of Party Products [260-Pages] | Clarified by Research Dive
The global party supplies market is expected to grow primarily due to the ease of availability of party products. E-commerce sub-segment is expected to flourish immensely. The North America market is predicted to grow with a high CAGR by 2032.
NEW YORK, March 8, 2023 /PRNewswire/ -- Global Party Supplies Market Forecast Analysis:
As per the report published by Research Dive, the global party supplies market is expected to register a revenue of $38,908.2 million by 2032 with at a CAGR of 8.9% during the forecast period, 2022-2032.
Segments of the Party Supplies Market
The report has divided the party supplies market into the following segments:
Product Type: balloons, banners, pinatas, games, home decor, tableware/disposables, take away gifts, and others
End-Use: commercial and domestic
Application: supermarket/hypermarket, convenience stores, specialized stores, e-commerce, and others
Region: North America, Europe, Asia-Pacific, and LAMEA
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Segment |
Sub-Segment |
Product Type |
Tableware/Disposables – Most dominant market share in 2021 |
Most of tableware and disposable items like plates, tablecloth, paper napkins, etc., are made from biodegradable materials and are extremely safe to use. This advantage of tableware and disposables is expected to push the growth of this sub-segment further. |
|
End-Use Industry |
Domestic – Fastest growth rate by 2032 |
Rise in the popularity of birthday parties, pre-wedding shoots, house parties, etc., is expected to propel the sub-segment forward. |
|
Distribution Channel |
E-commerce – Highest CAGR by 2032 |
The growing popularity of e-commerce platforms due to quick & easy buying processes is anticipated to push the market forward. |
|
Region |
North America – Most dominant market share in 2021 |
Rapid rise in party supplies due to the growing prevalence of parties and various events in different countries of this region is predicted to propel the market in the forecast period. |
Dynamics of the Global Party Supplies Market
The ease with which party products like party hats, banners, centrepieces, etc., are readily available is expected to make the party supplies market a highly profitable one in the forecast period. Additionally, significant increase in popularity of party supplies in the event management industry is predicted to propel the market forward. However, according to market analysts, the non-biodegradable nature of party products might become a restraint in the growth of the market.
Increasing adoption and popularity of online party supplies retail platforms is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, increasing prevalence of wedding receptions, theme parties, corporate parties, birthday celebrations, house parties, etc., is expected to propel the party supplies market forward in the coming period.
COVID-19 Impact on the Global Party Supplies Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The party supplies market, too, was negatively impacted due to the pandemic. The social distancing norms and travel restrictions put in place by different governments across the globe substantially reduced the overall number of events and parties being organized. This, in turn, brought down the growth rate of the market in the pandemic period.
Key Players of the Global Party Supplies Market
The major players of the market include
- American Greetings Corporation
- Martha Stewart Living Omnimedia, Inc.
- Shutterfly, Inc.
- Chinet
- Party City Holdco Inc.
- Pioneer Worldwide
- Hallmark Licensing, LLC.
- Oriental Trading Company (OTC)
- Unique Industries, Inc.
- Artisano Designs
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.
For instance, in October 2021, Amscan, a major player in the party supplies industry, announced that it was acquiring Ginger Ray, a leading brand in the party supplies and celebrations industry. This acquisition by Amscan is predicted to make its business more profitable in the coming period.
What the Report Covers?
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Party Supplies Market:
- Party Supplies and Party Planning in a Pandemic Stricken World
- Why is it Important to Opt for Party Supplies While Organizing an Event?
- Global Party Supplies Market to Generate $38,908.2 Million in the 2022-2032 Timeframe Due to Ease of Availability of Different Products
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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