By 2021-2027, Demand For Theme Parties Will Surge To Boost The Party Supplies Market at 8.8 CAGR

According to a new report published by Allied Market Research, titled, "Party Supplies Market by Product Type, Application, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021-2027,"

The global party supplies market size was valued at $12.7 billion in 2019, and is projected to reach $20.3 billion by 2027, registering a CAGR of 8.8% from 2021 to 2027.

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Key players operating in the global party supply market have adopted developmental strategies, such as product launch, to strengthen their foothold in the market in terms of value sales. To boost the demand for party supplies, they emphasize on continuous innovation to formulate products and gain a competitive edge in the market.

According to the key market players, increase in event management and wedding planning business across the globe boosts the growth of the party supplies market in terms of value sales. Therefore, the key players are focused to invest in R&D activities to launch unique & attractive party supplies for customers as well as to maintain their position in the market.

According to some of the key party supplies' manufacturers, use of mylar or foil balloons in parties is one of the leading trends in the party supplies market, which has fueled the demand for these balloons across the globe. Moreover, theme party is also a leading trend in the market, where customization of party supplies is done as per the customer's demand and theme of the party. This fuels the growth of the party supplies market in terms of value sales.

However, rise in customer awareness regarding the hazardous effects of non-biodegradable party supplies to the environment is expected to hamper the party supplies market growth in terms of value sales during the forecast period.

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Key findings of the study

By product type, the tableware/disposables segment accounted for the highest party supplies market share in 2019, growing at a CAGR of 6.4% from 2021 to 2027.

By application, the domestic use segment accounted for the highest market share in 2019, growing at a CAGR of 8.5% from 2021 to 2027.

By distribution channel, the supermarket /hypermarket segment accounted for the highest market share in 2019, growing at a CAGR of 7.6% from 2021 to 2027.

By region, North America occupied maximum share in the party supplies market in 2019 and is expected to dominate the market during the forecast period.

The key players operating in the global party supplies industry include Party City, Unique Industries, Martha Stewart, American Greetings, Pioneer Worldwide, Hallmark, Shutterfly, Artisano Designs, Chinet, and Oriental Trading Company.

Based on application, the market is bifurcated into commercial use and domestic use. The domestic use segment held the maximum market share in 2019 with nearly three-fourths of the global party supplies market in 2019, and is anticipated to maintain its dominance throughout 2027. Conversely, the commercial use segment is projected to portray the highest CAGR of 9.5% from 2021 to 2027.

Based on region, the market is analyzed across Europe, North America, Asia-Pacific, and LAMEA. The market across North America region accounted for the highest market share, with nearly one-third of the global market in 2019. The region, furthermore, is anticipated to maintain its lead share by 2027. Nevertheless, the Asia-Pacific region is expected to showcase the largest CAGR of 10.2% from 2021 to 2027.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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