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Party Supplies Market Generating Revenue of $28.8 Billion by 2031, At a Booming 9% Growth Rate

Party Supplies Market 2021-2031

As per the party supplies market analysis, The global market is segmented into product type, application, distribution channel, and region.

Millennials have a strong propensity for partying, they use social media sites like Facebook and Instagram, among others, to plan and interact at events, which supports for the growth of the market.”

— Roshan Deshmukh

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, September 22, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Party Supplies Market,” The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. 𝐓𝐡𝐞 𝐩𝐚𝐫𝐭𝐲 𝐬𝐮𝐩𝐩𝐥𝐢𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟏𝟐.𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟐𝟖.𝟖 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟗% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏.

Request for Downloadable Sample Report: https://www.alliedmarketresearch.com/request-sample/6870

The growth of the global party supplies market is driven by the increase in event management and wedding planning business globally, rise in urban population, and product innovations. On the other hand, the impact of non-biodegradable party supplies on the environment limits the expansion of the business. This factor impedes growth to some extent. However, the rise in consumer demand for eco-friendly products and the rapid growth of online retail platforms are expected to create lucrative opportunities in the industry.

In addition, expansion of distribution channels, such as online stores, supermarkets, hypermarkets, specialized store, and others, has made these party supplies become easily available to customers, thereby contributing to the party supplies market growth. Online shopping is more convenient compared to physical shopping as consumers could find anything easily on online stores without being physically present in the store. Therefore, growth in digitalization and increase in percentage of population inclined toward online shopping across various countries are expected to provide lucrative opportunities for the party supplies market.

In addition, this is anticipated to propel the growth of the party supplies market in the future. From the past few years, there has been an exponential growth in urban population. According to the United Nations (UN), urban population, which is 55% of the world’s population presently, is projected to reach 68% by 2050. Increase in urban population is a key factor that propels the party supplies market globally. This is attributed to urban dwellers who prefer ceremonies, parties, & events to connect with their friends and loved ones to create unforgettable moments.

Therefore, social distancing and minimum gathering have led to cancellation of various events and parties, thereby leading to loss in sales of various party supplies in terms of value sales. Thus, restricting the growth of party supplies market. The global party supplies market analysis is segmented into product type, application, distribution channel, and region. By product type, the market is classified into balloons, banners, pinatas, games, tableware/disposables, home decor, take away gifts, and others. By application, the market is divided into commercial use and domestic use. Based on distribution channel, the market is segregated into convenience stores, e-commerce, supermarket/hypermarket, specialized stores, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Increase in awareness among kids has also created demand for cartoon character theme party supplies. Change in fashion & trend, theme parties, increase in awareness, surge in disposable income, innovation & technology, expansive categories of supplies, commercial use of supplies, unique designs, and variants in color & material drive the growth of the global party supplies market. Moreover, theme parties and use of latex & mylar balloons and in events & parties are the leading party supplies market trends now. The lockdown scenario caused due to the COVID-19 pandemic has caused the party supplies market to witness loss in sales and revenue. This is attributed to the fact that customers across the globe are maintaining social distancing and restricting themselves from going out frequently to avoid getting infected with COVID-19.

Furthermore, by sales channel, the e-commerce segment is anticipated to be the fastest-growing segment, in terms of value sales, during the party supplies market forecast period, owing to the rise in use of online platforms or e-commerce for purchase of party supplies among customers. This is attributed to easy availability of different brands, designs, and types of party supplies available through online platforms. Moreover, online store has time-saving features and the facility of home delivery, which made consumers incline toward online stores. In addition, owing to the COVID-19 pandemic, consumers have restrained themselves to go outside their homes and in crowded places such as supermarkets and hypermarket. This has increased the distribution of party supplies through online stores.

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.

Key findings of the study:

○ By product type, the tableware/disposables segment accounted for the highest party supplies market size in 2021, growing at a CAGR of 7.6% from 2022 to 2031.
○ By application, the domestic use segment accounted for the highest market share in 2021, growing at a CAGR of 8.6% from 2022 to 2031.
○ By distribution channel, the supermarket/hypermarket segment accounted for the highest party supplies market share in 2021, growing at a CAGR of 7.3% from 2022 to 2031.
○ By region, North America occupied maximum share in the party supplies market in 2021 and is expected to dominate the market during the forecast period.

Enquire More About this Report: https://www.alliedmarketresearch.com/purchase-enquiry/6870

Reasons to Buy This Party Supplies Market Report:

• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis.

Country Reports We Have in this Industry:

Canada Party Supplies Market Opportunity Analysis and Industry Forecast, 2021-2032
Mexico Party Supplies Market Opportunity Analysis and Industry Forecast, 2021-2032

○ Europe Party Supplies Market Opportunity Analysis and Industry Forecast, 2021-2032
https://www.alliedmarketresearch.com/europe-party-supplies-market-A101537

○ France Party Supplies Market Opportunity Analysis and Industry Forecast, 2021-2032
https://www.alliedmarketresearch.com/france-party-supplies-market-A101538

○ Germany Party Supplies Market Opportunity Analysis and Industry Forecast, 2021-2032
https://www.alliedmarketresearch.com/germany-party-supplies-market-A101539

○ Italy Party Supplies Market Opportunity Analysis and Industry Forecast, 2021-2032
https://www.alliedmarketresearch.com/italy-party-supplies-market-A101540

○ UK Party Supplies Market Opportunity Analysis and Industry Forecast, 2021-2032
https://www.alliedmarketresearch.com/uk-party-supplies-market-A101541

○ Spain Party Supplies Market Opportunity Analysis and Industry Forecast, 2021-2032
https://www.alliedmarketresearch.com/spain-party-supplies-market-A101542

○ Russia Party Supplies Market Opportunity Analysis and Industry Forecast, 2021-2032
https://www.alliedmarketresearch.com/russia-party-supplies-market-A101543

David Correa
Allied Analytics LLP
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Originally published at https://www.einpresswire.com/article/657173633/party-supplies-market-generating-revenue-of-28-8-billion-by-2031-at-a-booming-9-growth-rate

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