The latest research study “Party Supplies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global party supplies market size reached US$ 13.2 Billion in 2022.
Party supplies refer to a broad category of different accessories and items used to organize an event or a party. They are employed to create the right ambiance for special occasions such as anniversaries, birthdays, bachelorettes, farewells, and baby showers. Some commonly known party supplies are balloons, banners, invitations, cards, candles, home decor, tents, tableware, pinatas, and games which add a flair to the party arrangements making the event memorable. They are convenient and cost-effective, create a festive atmosphere, and establish a suitable theme for the party. Presently, party supplies are widely available in supermarkets, online and convenience stores, and hypermarkets.
Party Supplies Market Trends and Drivers:
The market is primarily driven by the growing popularity of theme parties. These theme parties are typically decorated with party supplies in accordance with the theme to make the party more memorable and eventful. In addition, the rising demand for wedding planning, engagement parties, and event management services is contributing to the market growth.
Moreover, the increasing penetration of the internet and social media is accelerating the demand for these supplies to offer a long-lasting impression by carrying the party in an organized way and adding a personal touch which represents another major growth-inducing factor.
Besides this, the expanding e-commerce industry and the easy availability of party supplies through online stores are providing a positive thrust to the market growth. Furthermore, rapid urbanization, rising disposable income, and the growing trend of corporate parties and events are also propelling the market growth.
The market is primarily driven by the growing popularity of theme parties. These theme parties are typically decorated with party supplies in accordance with the theme to make the party more memorable and eventful. In addition, the rising demand for wedding planning, engagement parties, and event management services is contributing to the market growth.
Moreover, the increasing penetration of the internet and social media is accelerating the demand for these supplies to offer a long-lasting impression by carrying the party in an organized way and adding a personal touch which represents another major growth-inducing factor.
Besides this, the expanding e-commerce industry and the easy availability of party supplies through online stores are providing a positive thrust to the market growth. Furthermore, rapid urbanization, rising disposable income, and the growing trend of corporate parties and events are also propelling the market growth.
Source: IMARC Services Private Limited
