Market Dynamics
Global Party Supplies Market Drivers
Expansion of the Event Management and Wedding Planning Industries
The wedding planning and event management industries have grown over the last few years due to an increase in end-user interest, particularly among millennials, in-house parties, concerts, theme parties, birthday celebrations, lavish wedding celebrations, and other events. Attractive party supplies, including balloons, lights, candles, banners, masks, and other items, are utilized as decorations to spruce up the environment. As a result, they are the center of attention during occasions and gatherings. Commercial end-users search for unique color combinations in games, banners, lights, and party balloons to entice patrons in malls and other venues and persuade them to engage in activities. This promotes the market for party supplies to grow in value sales.
Global Party Supplies Market Restraint
Environmental Effects of Non-Biodegradable Party Supplies
Non-biodegradable party supplies, like plastic plates, cups, balloons, and flimsy favors, may contribute to the waste stream and hurt the environment, such as water pollution. Customers who care about the environment prefer to avoid these non-biodegradable party supplies, which reduces demand for party supplies. This is anticipated to limit the market's growth in volume sales over the forecast period.
Global Party Supplies Market Opportunities
Increasing Consumer Demand for Environmentally Friendly Goods
Consumer awareness of the environment and sustainable products has grown in recent years. Customers are now aware of plastic and other harmful materials' environmental damage. They seek out eco-friendly party supplies and prefer hosting eco-friendly events. So, manufacturers in the party supply industry concentrate on introducing environmentally friendly party supplies like disposable plates and cups, biodegradable and eco-friendly latex balloons, and reusable foil balloons. In terms of value sales, this is anticipated to present profitable chances for the party supply market during the forecast period.
Regional Analysis
The global party supplies market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
North America Dominates the Global Market
North America is the most significant global party supplies market shareholder and is expected to grow at a CAGR of 7.80% during the forecast period. Customers in North America respond to a rising demand for coed life-event parties, such as pre-wedding bachelor and bachelorette parties and post-wedding couple's showers. Social media is one of the main drivers of this phenomenon. In addition, young adults in North America tend to party and post on social networking sites like Facebook, Instagram, and others. Additionally, special attention is given to the 16th and 21st birthdays in the United States. As a result, this fuels the region's demand for party supplies, which spurs the market's expansion in value sales.
Europe is expected to boost at a CAGR of 8.15% during the forecast period. Europe is one of the world's top places for concerts, parties, and nightclubs. One of the most significant festivals celebrated in Europe is the carnival. The combination of these factors has led to an increase in the value sales of the party supply industry in this region. In addition, the party supplies market has seen exponential growth in Europe as a result of an increase in consumer interest in home parties, concerts, theme parties, birthday celebrations, pricey weddings, and other events, particularly among generation z and millennial consumers.
Asia-Pacific is expected to grow significantly over the forecast period. The demand for party supplies, including balloons, banners, and other items, is predicted to increase in the Asia-Pacific due to trends like gender-neutral party themes and birthday parties. Inexpensive decorative materials are increasingly required in small and medium-sized businesses (SMEs). This trend is more pronounced in Asia-Pacific nations since this region's party supply market is expected to create the most revenue and rapidly expand value sales over the forecast period.
Brazil, Saudi Arabia, South Africa, Turkey, and the rest of LAMEA are all included in the LAMEA party supplies market analysis. The LAMEA region is anticipated to experience considerable growth in the consumption of party supplies over the forecast period. Traditions like wedding ceremonies, birthday parties, and other celebrations are prioritized in LAMEA as a fun method to bring the family together. In addition, customers in LAMEA tend to enjoy parties and holiday celebrations. The need for party materials, including balloons, take-home presents, banners, and other items, has skyrocketed. This has fueled the party supply market's expansion in terms of value sales.
Segmental Analysis
The global party supplies market is segmented by product type, application, and distribution channel.
On the Basis of Product Type
Based on product type, the party supplies industry is bifurcated into balloons, banners, home décor, pinatas, games, tableware/disposables, takeaway gifts, and others.
The tableware/disposables segment is the highest contributor to the market and is expected to grow at a CAGR of 8.90% during the forecast period. Tableware is used when setting the table, presenting food to diners, or dining. Glassware, cutlery, serve ware, tablecloths, napkins, paper/plastic cups, and other objects with both functional and ornamental uses are included. Food and drinks are among the most critical aspects of any party or event that demonstrates hospitality to guests. One of the significant trends in party culture is the provision of food at events and social gatherings, including parties, festivals, and sporting occasions. As a result, there is more demand for throwaway dinnerware during gatherings and events.
Balloons have long been used as a staple in party and event decoration due to their ability to attract attention, inherent cuteness, widespread appeal among youngsters, and the large imprint area they provide for advertising purposes. Customer preferences are considered when creating orb balloons and massive party balloon decor displays. Due to social media influence, manufacturers in the party supply industry profit from the trend of celebrity-style weddings and parties that people choose to attend. Further, people who want to add a luxury touch to their theme parties strongly favor foil party balloons. Manufacturers also release novel balloons onto the market, including character balloons, word balloons, and others. The market for party materials has grown as a result.
Banners have become more and more popular throughout time as a great way to celebrate and show excitement. These banners are used by parties and event planners to give their events or parties a unique touch. At parties or events, banners are typically utilized to capture attention. They are instantly identifiable because of their attention-grabbing size, color, and design. The major manufacturers in the party supply industry also provide personalized banners that can be printed with inscriptions or photos. This provides a genuine party atmosphere that contributes to the gathering's joy and entertainment.
Tiny pinatas, talking pinatas, talking portrait pinatas, pull-string pinatas, and promotional pinatas are just a few of the many styles available on the market. They are frequently chosen for festivities for kids because they are so eye-catching and vibrant. Additionally, promotional pinatas are utilized for client presents, company occasions, and promotional activities. As a result, this has increased the demand for pinatas at festivals, birthday celebrations, and other events. This has increased consumer demand for pinatas, which has helped the market for party supplies flourish. Additionally, producers consistently improve their goods. For instance, talking pinatas have a tiny electronic voice box incorporated into them to appeal to customers.
On the Basis of Application
Based on application, the global party supplies market is bifurcated into commercial and domestic use.
The domestic use segment owns the highest market share and is expected to grow at a CAGR of 8.95% during the forecast period. The growth of the global party supplies industry in value sales has been fueled by the rise in party celebration trends, including pre-wedding, divorce parties, baby showers, housewarming, post-birthday celebrations, pre-birthday celebrations, single dance parties and mixers, and others. In addition, birthday celebrations changed as more people used video conferencing apps during the COVID-19 pandemic. They use party balloons, banners, fairy lights, and other decorations to make their living rooms look like themed parties for their kids.
Corporate gatherings, parties, and award ceremonies have increased in frequency over time to network with others in the sector, expand businesses, and show appreciation and motivation to staff. As a result, the use of party supplies, including balloons, banners, disposable dinnerware, and other products in professional settings, has increased. It is a significant driver of market expansion for party goods used for business purposes. Additionally, commercial end users choose unique color schemes for party balloons, banners, lights, and games to draw customers to malls and other events and entice them to engage in activities. As a result, the market for party supplies is growing in value sales.
On the Basis of Distribution Channels
Based on distribution channels, the global party supplies market is bifurcated into supermarkets/hypermarkets, convenience stores, specialized stores, e-commerce, and others.
The supermarket or hypermarket segment is the highest contributor and is expected to grow at a CAGR of 7.75% during the forecast period. Due to the availability of a wide range of consumer items under one roof, abundant parking, and convenient operating hours, hypermarkets and supermarkets are becoming increasingly popular. Additionally, the appeal of supermarkets and hypermarkets is increased in both established and emerging nations by increased urbanization, an increase in the working class population, and competitive pricing. These shops also carry a wide range of brands in several product categories, including party supplies. As a result, they provide clients with more choices for where to acquire party items like banners, dinnerware, balloons, and home decor. Additionally, the staff members working at the stores are knowledgeable about the many types and designs of balloons, banners, themed party kits, masks, and other items.
Convenience stores have become more prevalent due to growing urbanization and rising disposable income. Convenience stores are becoming increasingly popular due to their extended operating hours, expanded service areas, and shortened cashier lines. Additionally, convenience stores have taken the place of outdated general stores. Contrary to other retail establishments, convenience stores are open for extended periods and are situated in an area that is handy for local customers to visit. They are situated in a location that serves as the site's logical conclusion. Customers can get party goods from these establishments, like balloons, banners, candles, gift wraps, etc. Additionally, in terms of value sales, convenience stores have boosted the sales of party supplies.
Specialty stores provide clients with excellent service standards, thorough product specifications, and knowledgeable advice. The high price of many party supplies, such as themed party packages, and the fact that modern consumers rarely make impulse purchases lead these stores to promote the sales of both national and private label items at their facilities. Customers also receive additional product information before making a purchase. Additionally, clients prioritize conserving money above all else and favor making purchases of goods for which they may use coupons, discounts, or vouchers. Therefore, using vouchers and discount programs to establish a brand and attract more customers enhances foot traffic and sales revenue in specialized businesses.
