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Rising Party Culture to Boost Demand for Party Supplies Market to Reach US$2.29 mn by 2027


Rising Party Culture

iCrowdNewswire   Nov 17, 2020  11:00 PM ET

Report Ocean has recently published a new research study on the global party supplies market. According to the study, the market is expected to exhibit strong growth potential over the period from 2020 to 2027. The report is titled “Party Supplies Market by Product Type (Balloons, Banners, Pinatas, Games, Tableware/Disposables, Home Décor, Take Away Gifts, and Others), Application (Commercial Use and Domestic Use), and Distribution Channel (Supermarket/Hypermarket, E-Commerce, Convenience Store, Specialized Store, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027” and is prepared after carrying out a detailed analysis of this market, taking the performance of every market segment into consideration, using various research tools.

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According to the research report, the global party supplies market reached a valuation of US$12.65 mn in 2019. Researchers expect the market to proliferate at a CAGR 8.80% during the period from 2020 to 2027 and touch US$2.29 mn by the end of the forecast period.

The worldwide market for party supplies is deriving much of its growth from the rising party culture across the world. The continuous expansion in the wedding planning and event management industry across the world is adding substantially to the market. However, the rise in consumer awareness pertaining to the harmful effects of non-biodegradable party supplies may hamper the growth of this market in the near future. Nonetheless, the increasing base of consumers, preferring eco-friendly party supplies and the rapid growth of online retail platform are anticipated to offer lucrative opportunities for market players, in terms of value sales, over the forecast period, states the research report.

Impact of Covid 19 on Global Party Supplies Market

With the increasing need for social distancing in this Covid era, parties and events have taken a back seat and so has the demand for party supplies. This has impacted the global party supplies market substantially. However, as the restriction on gathering has loosened up a little and parties and events have started to take place again, the market is likely to gain traction very soon.

Balloons to Continue to Report High Demand

In this research report, the global party supplies market has been analyzed on the basis of the product type, application, distribution channel, and the region. Based on the product type, the market has been classified into balloons, banners, pinatas, games, tableware/disposables, home décor, and take-away gifts. Among these, balloons report the highest demand and are expected to continue to do so in the near future. Based on the application, the market has been categorized into commercial use and domestic use. The commercial use segment has emerged as a bigger application area for party supplies and is projected to remain so over the next few years.

In terms of the distribution channel, the market has been segregated into convenience stores, e-commerce, supermarket/hypermarket, specialized stores, and others. Regionally, North America, Europe, Asia Pacific, and LAMEA have been considered as key regional markets for party supplies across the world in this report.

The key players operating in the global party supplies market focus on prominent strategies to overcome competition and maintain as well as improve their market share globally. Some of the major players in the global party supplies market analyzed in this report include Party City, Unique Industries, Martha Stewart, American Greetings, Pioneer Worldwide, Hallmark, Shutterfly, Artisano Designs, Chinet, and Oriental Trading Company.

Key Findings:

The global party supplies market is segmented into:

By Product Type

By Application

By Distribution Channel

By Region

Companies Mentioned in the Report

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