Party Supplies Market To Reach $28.8 Billion, Globally, By 2032 At 9.0% CAGR: Allied Market Research

Wilmington, Delaware, Sept. 27, 2024 (GLOBE NEWSWIRE) --

Allied Market Research published a report, titled, “ Party Supplies Market by Product Type (Balloons, Banners, Pinatas, Games, Home Decor, Tableware/Disposables, Take Away Gifts, Others), by Application (Commercial Use, Domestic Use), by Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Specialized Stores, E-commerce, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 ." According to the report, the global party supplies market was valued at $12.3 billion in 2021, and is projected to reach $28.8 billion by 2032, registering a CAGR of 9.0% from 2023 to 2032.

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Prime determinants of growth

Increase in consumer interest in hosting celebrations, from birthdays to weddings, has created a strong demand for diverse party supplies. The rise of social media has also played a significant role, as individuals showcase their events online, encouraging others to host similar gatherings. Seasonal celebrations and themed parties have further propelled demand for specialized supplies, catering to various occasions and preferences. In addition, the expansion of e-commerce platforms has made party supplies more accessible, allowing consumers to shop conveniently from home. Innovative products, including eco-friendly options and personalized items, have attracted environmentally conscious consumers and those seeking unique experiences. Furthermore, a growing trend toward experiential spending over material goods has led to increased investment in memorable events, driving further growth in the party supplies market. All such factors collectively contribute to a rapidly expanding industry.

Report coverage & details

The tableware/disposables segment to maintain its leadership status during the forecast period

By product type, the tableware/disposables segment held the highest market share in 2021, accounting for less than one-fifth of the party supplies market revenue and is estimated to maintain its leadership status throughout the forecast period. Food & beverages is one of the key elements in any party or events to appreciate and demonstrate hospitality to guests. Serving food at social gatherings, such as parties, festivals, and events, is one of the macro trends in party culture. Therefore, it has increased the demand for tableware/disposables in parties or events. This, in turn, has driven the growth of the party supplies market in terms of value sales. Moreover, manufacturers offer eco-friendly disposable glassware, cutlery, and dishware in the market to mitigate environmental pollution as well as attract environment-conscious customers. Therefore, this increases the demand for tableware/disposables in the market, thereby contributing to the overall growth of the party supplies market.

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The domestic use segment to maintain its leadership status during the forecast period

By application, the domestic use segment held the highest market share in 2021, accounting for nearly three-fourths of the party supplies market and is estimated to maintain its leadership status throughout the forecast period. Rise in trends of party celebration, such as pre-wedding, divorce party, baby shower, housewarming, post birthday celebration, pre birthday celebration, single dance party & mixer, and others, has driven the growth of the party supplies market in terms of value sales. Moreover, birthday parties are transforming in the midst of COVID-19 pandemic as customers are using video conferencing apps to celebrate their birthdays. They transform their living rooms into themed parties by using party balloons, banners, fairy lights, and others to cheer their children. This, in turn, drives the growth of the market.

The s upermarket/ h ypermarket segment to maintain its leadership status during the forecast period

By distribution channel, the supermarket/hypermarket segment held the highest market share in 2022, accounting for nearly one-fourth of the party supplies market and is estimated to maintain its leadership status throughout the forecast period. Hypermarket/supermarket is gaining high popularity, owing to the availability of a broad range of consumer goods under a single roof, ample parking space, and convenient operation timings. Moreover, increase in urbanization, rise in working class population, and competitive pricing boost the popularity of supermarket/hypermarkets in developed and developing regions. Furthermore, these stores offer variety of brands in several product categories, including party supplies. Therefore, these offer more options for customers to buy party supplies, such as banners, tableware, balloons, and home decor, as per their choice. In addition, customers have advantages of scanning party supplies of different types, designs, colors, & brands. Moreover, presence of store associates who help the customers to choose the right product and provide product knowledge boosts the growth of the segment.

North America to maintain its dominance by 203 5

Region wise, North America held the highest market share in terms of revenue in 2021 and is likely to dominate the market during the forecast period. Customers in North America address a growing desire to have a co-ed life-event party celebration such as post-wedding couple's shower, pre-wedding gender-segregated bachelor, and bachelorette parties. One of the major factors that drive this phenomenon is social media. North America's young adults are inclined toward parties and posting on their social media such as Facebook, Instagram, and others. Theme party is one of the macro trends in this region. In addition, special attention is paid to the 16th & 21st birthdays in the U.S. Therefore, this drives the demand for party supplies in this region, thereby boosting the growth of party supplies market in terms of value sales in this region.

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Leading Market Players: -

• Huhtamaki, Shutterfly, Inc.

• Oriental Trading Company

• Artisano Designs

• Martha Stewart Living Omnimedia, Inc.

• Party City Holdco Inc.

• Pioneer Worldwide

• American Greetings Corporation

• Unique Industries, Inc.

• Hallmark Licensing, LLC.

The report provides a detailed analysis of these key players in the party supplies market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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