Key Trend Reshaping the Party Product Rental Market in 2025: Transforming Party Planning With Customized Kits

What Are the Projections for the Size and Growth Rate of the Party Product Rental Market?
In recent times, the party product rental industry has seen rapid expansion in its market size. The market is projected to expand from $2.5 billion in 2024 to $2.81 billion in 2025, growing at a compound annual growth rate (CAGR) of 12.4%. This acceleration in growth during the past period has been driven by several factors such as the economic environment, consumer expenditure trends, variations in seasonal demand, advancements in rental technologies, and the competitiveness of the market.

The market for party product rentals is anticipated to undergo significant expansion in the upcoming years, with projections of reaching $4.44 billion in 2029 and a compound annual growth rate (CAGR) of 12.1%. This surge during the predicted period can be justified by factors such as the rise in the number of events, cost-benefits, convenience, and variety; the blossoming event planning industry; urbanization resulting in smaller living spaces; and, the trend towards customization and personalization. Key trends occurring during this forecasted period encompass party product rentals, enlargement of the rental market, eco-friendly party supplies, customization choices, online party packages, green rentals, self-made party kits, and themed party packages.

What Key Elements Are Boosting Growth in the Party Product Rental Market?
Anticipated growth in the party product rental market is likely to be driven by an increase in the number of corporate gatherings and events. These organized assemblies are platforms for networking, professional growth, and knowledge dissemination among employees, customers, or industry specialists. Corporate events and conferences are gaining importance because they provide businesses and individuals with opportunities for networking, sharing knowledge, and professional advancement. Party product rental services for these corporate meetings and events supply the necessary tools and facilities, such as audiovisual equipment, furniture, and decor, to ensure smooth running of the events and provide an environment conducive for interaction and engagement. For example, a survey of 500 professionals conducted by American Express Global Business Travel, a US travel management firm, in September 2023, revealed that 67% of businesses foresee an increase in their overall event budget in 2024, up from 65% the previous year. Additionally, at least 10% of these firms expect an increase in expenditure of 11% or more. Moreover, 70% of the participants expect attendee numbers to match the figures of 2019 by 2024, a rise from 67% the year before. Therefore, the predicted increase in corporate conferences and events is expected to boost the growth of the party product rental market.

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Which Businesses Are at the Forefront of Party Product Rental Market Development?
Major companies operating in the party product rental market are CORT Party Rental, Chase Canopy Company Inc., Marquee Event Group, Bright Event Rentals LLC, The Party Rent Group, Broadway Party Rentals Inc, All Occasions Party Rental, Party Reflections Inc, Atlas Event Rental, Stuart Event Rentals, Big D Party Rentals, Event Source JBK Group Inc, Avalon Tent and Party Corp, A Classic Party Rental, Baker Party Rentals, Classic Party Rentals, J & J Tent And Party Rental, Cabaret Tent and Party Rental, AAA Party Rentals, Bethel Party Rentals, Pleasanton Rentals Inc, Ventura Rental Party & Events, Ultimate Events and Party Rentals, Diamond Event & Tent, Signature Party Rentals

What Are the Latest Innovations in the Party Product Rental Market?
Major companies in the party product rental sector are shifting their focus towards personalized and themed event packages to meet changing consumer tastes and gain an edge over competitors. Personalized event packages are collections of themed decor, such as banners, lights, and props, that are pre-packaged to create a harmonious ambience. For example, in September 2023, Wilton Brands LLC, a US-based party and baking product manufacturer, rolled out a new range of Halloween kits designed to inspire party-goers and bakers during the fall season. These kits feature unique elements like personalizable décor, straightforward instructions, and themed motifs that enable consumers to stage unforgettable events with ease. The new products include a vampire decoration set, skull sprinkles, extended Halloween sprinkles, and shimmering pumpkin icing adornments that enhance Wilton's current assortment of seasonal baking equipment, decorating sets, candy melts, icing, sprinkles, and edible decorations. Wilton's offerings are ideal for parties, family meet-ups, or imaginative kitchen activities, guaranteeing to bring the festive spirit to any Halloween festivity.

How Is the Party Product Rental Market Segmented?
The party product rental market covered in this report is segmented -

1) By Type: Audiovisual, Beverage Servers, Cooking Equipment, Flooring And Staging, Lighting, Other Types
2) By Application: Corporate Functions, Family Events, Non Governmental Organization (NGOs)
3) By Customer: Individual Consumers, Event Planners, Corporate Clients, Government And Municipalities, Caterers And Catering Services

Subsegments:
1) By Audiovisual: Sound Systems, Projectors And Screens, Microphones, Speakers, Video Conferencing Equipment
2) By Beverage Servers: Drink Dispensers, Bar Equipment, Coffee And Tea Stations, Water Stations
3) By Cooking Equipment: Grills And BBQs, Ovens And Stoves, Refrigeration Equipment, Food Warmers, Fryers
4) By Flooring And Staging: Dance Floors, Temporary Flooring, Stage Platforms, Modular Staging, Podiums And Risers
5) By Lighting: Ambient Lighting, Stage Lighting, LED Lights, Spotlights, Decorative Lighting
6) By Other Types: Furniture Rentals (Tables, Chairs, Lounge Furniture), Tents And Canopies, Decor Items (Floral Arrangements, Centerpieces), Heaters And Fans, Portable Restrooms

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Where Is the Party Product Rental Market Growth Most Prominent?
North America was the largest region in the party product rental market in 2023. The regions covered in the party product rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Party Product Rental Global Market Report?

- Market Size Analysis: Analyze the Party Product Rental Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Party Product Rental Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Party Product Rental Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Party Product Rental Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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