Press release
Wedding Services Market to Reach USD 505.57 Billion by 2030, Growing at a 12.6% CAGR
Wedding Services Market
The global wedding services market is experiencing significant expansion, with projections indicating substantial growth in the coming years. In 2023, the market was valued at approximately USD 220.30 billion and is expected to reach nearly USD 505.57 billion by 2030, registering a compound annual growth rate (CAGR) of 12.6% from 2024 to 2030.
This growth is driven by increasing disposable incomes, evolving consumer preferences, and a rising trend toward personalized and extravagant wedding celebrations.
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United States: Opportunities in a Dynamic Market
The United States wedding services industry is witnessing robust growth, propelled by a strong economy and a penchant for lavish weddings. The market is projected to expand at a CAGR of 13.8% from 2024 to 2030.
Recent developments include the acquisition of the iconic wedding dress brand Vera Wang by WHP Global, a brand management firm backed by private equity investors such as Oaktree Capital Management and Ares Management. This acquisition underscores the market's dynamism and the strategic interest of investors in established wedding service brands.
Asia-Pacific: Growth Fueled by Tradition and Modernity
The Asia-Pacific region is poised for significant growth in the wedding services market, with an anticipated CAGR of 12.5% from 2024 to 2030.
Countries such as India, China, and Japan are witnessing a surge in both traditional and destination weddings, blending cultural heritage with contemporary trends. The Indian wedding market, for instance, is valued at approximately $75 billion, making it the second-largest globally after China. This growth is attracting global luxury brands to invest heavily in the region, with companies like Louis Vuitton, Chanel, and Aquazzura expanding their presence to cater to the burgeoning demand for luxury wedding services.
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Segmentation Analysis
by Type
Destination Wedding
Local Wedding
the local wedding segment dominates the market, with market share around 81% in 2023, Local weddings usually feature couples and guests who know the area well, making venue and vendor access and coordination easier. Within the local wedding market, couples' unique requirements and preferences are catered to through services including venue selection, catering, photography, flower design, entertainment, and wedding planning and coordination.
by Booking Type
Online Booking
Offline Booking
by Service Type
Catering Services
Decoration Services
Transport Services
Videography & Photography
Wedding Planning Services
Want a comprehensive Market analysis? Check out the summary of the research report :
https://www.maximizemarketresearch.com/market-report/wedding-services-market/229647/
Key Market Participants:
1. Augusta Cole Events
2. Shaadi.com
3. Bharat Matrimony
4. Colin Cowie
5. Laurie Arons
6. David Stark Design
7. A Charming Fête
8. Aisle & Co.
9. Birds of a Feather Events
10. Breezit Inc.
11. Bridal Bliss Inc
12. Dallas Oasis
13. Easton Events
14. Event Essentials
15. Eventures Asia
16. Fallon Carter Events
17. JZ Events
18. Kate & Company
19. Laurie Arons
20. Lindsay Landman Events Nordic
21. Adventure Weddings
22. Revel Wedding Co.
23. Rocky Mountain Bride
24. Matrimony.coms
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