Party Supplies Market Size Predicted to Garner a Revenue of $20,291.7 Million and Rise at a CAGR of 8.8% during the Forecast Timeframe 2021-2027

The global party supplies market was valued at $12,657.9 million in 2019, and is projected to reach $20,291.7 million by 2027, registering a CAGR of 8.8% from 2021 to 2027.

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Rise in awareness and connectivity through the internet have made party supplies to become an essential requirement while organizing any kind of party. These supplies generally include party invitations, balloons, banners, pinat as, games, cards, home decor, tableware, candles, tents, umbrellas, and others. Party supplies are manufactured in mass scale in the market.

Moreover, leading manufacturers, such as Party City, have introduced innovative party supplies for various occasions such as birthday, graduation, anniversary, Christmas, Halloween, and others. In addition, theme party is one of the leading trends in the market, where customization of party supplies is done accordingly. There are wide varieties of types, designs, colors,and styles of party supplies available in the market through various distribution channels, including online stores, supermarkets, convenience stores, and others.The party supplies market analysis is done based onregion, key players, and segments.

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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.

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.

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