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.
Based on 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.
Balloon offers a versatile and customizable option for decorating and enhancing the overall ambiance of events. Consumers have a wide range of choices from latex, foil, and giant balloons that can be personalized into any colour, print, or message one wants to put across. Balloons with names, dates, and themes can make an event unique and memorable, giving people a way to make their celebration more personalized. The use of balloons has gone beyond simple decorations, with the emergence of elaborate themed arrangements, such as balloon arches, columns, and sculptures, which are crafted to fit specific event themes and enhance the visual appeal of the celebration. Innovations such as biodegradable materials and customizable designs meet consumer preferences for sustainability and personalization drives the growth of the segment.
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.
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.
Games
The games and activities segment has been one of the fastest-growing product types in the party supplies market. Those games can range from traditional party games such as Pin the Tail on the Donkey and musical chairs to the new age games of trivia and scavenger hunt activity board games. The growing passion for participation-based, fun-filled party celebrations has led to an increased demand for games and activities during parties, as most organizers or party hosts try to make it a memorable moment for their guests. As parties advance in themes and diversify in entertainment preferences the segment of games continues to be dynamic and is sensitive to the changes in consumer demand toward fun and engaging things.
Home Decor
The home decor segment of party supplies comprises products that give a finishing touch to the ambiance and thematic appeal of parties and events at home, be it in the form of decorative banners, buntings, tablecloths, centrepieces, party lights, candles, or theme-based decorations ranging from wall hangings to props. Most of these products are designed to be festive, colourful, and themed towards different party events such as birthdays, holidays, weddings, or any other special occasion. Home decoration in party supplies gives aesthetic value and helps create a festive atmosphere that sets a great time for a wonderful experience for the host and guests.
Based on Application
Based on application, the global party supplies market is bifurcated into commercial and domestic use.
Commercial use
The commercial use segment serves businesses and organizations that require large quantities of party-related products for events, corporate functions, promotional activities, and large-scale celebrations. This segment comprises a variety of products such as decoration items, tableware, balloons, banners, and party favours, many of which are customized with company logos or event-driven themes. key consumers in this segment are businesses such as event planners, hotels, restaurants, entertainment venues, etc., which are driving demand for bulk purchases and tailored solutions. The growing trend toward corporate events and marketing promotions is driving the growth for this segment.
Domestic use
The domestic use segment comprises a wide range of products such as decorations, tableware, balloons, and other themed accessories for events such as birthdays, anniversaries, holiday gatherings, or other personal milestones. This segment grows with the increasing trend in home-based celebrations, as it is very convenient and relatively cheap compared to holding it at external venues. With the increased use of social media platforms, the need for beautiful and customizable party supplies is increased as consumers try to capture and share visually appealing event setups. Innovations in product designs, eco-friendly materials, and the availability of DIY kits also drive the demand for domestic segment in the party supplies market.
Based on 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.
The e-commerce segment has significant growth, driven by the increasing preference for online shopping and the convenience it offers. The development of logistics and delivery services has granted customers a rapid and more reliable way of shipping these days, which improves the overall experience of shopping. The e-commerce channel offers a vast selection of products at competitive pricing, and ease of comparison which attracts both individual consumers and event planners. Party City, American Greetings, Oriental Trading Company, etc., are key players in the party supplies E-commerce.
Based on Occasion
Birthday
It features various products suitable for certain themes of birthdays including banners, balloons, and tableware designed with particular age brackets or other prevalent characters. The costumes, cake decorations, and party favors also help this market segment by making sure consumers get coordinated and festive items in their birthday party supplies. Ongoing trends and consumer preferences for unique and memorable birthday experiences drive innovations within this segment.
Wedding
This segment consists of a vast range of products including decorations, tablescape needs, flowers, balloons, favors, and theme-enhancing props and accessories that match a certain wedding theme or style. The increasing trend for elaborate and customized weddings, where couples seek out the most distinctive items to create memories for guests attending their weddings is driving the growth of the segment. Other major drivers of sales are seasonal fluctuations in demand, which generally peak during the wedding season. The Knot Worldwide, Party City Holdco, etc., are key players in this segment.
Corporate events
Companies invest in quality decorations, customized themes, branded merchandise, and unique party favors to create memorable experiences that align with the company's identity and objectives. Demand for sophisticated and professional supplies such as elegant tableware, branded banners, and tech-savvy entertainment options has increased to enable seamless and impactful event execution. The rise of hybrid and virtual events has created opportunities for growth in this category, as companies seek creative methods for catering to both in-person and remote event participants, resulting in a rise in the corporate events party supplies market.
