Global Party Supplies Market to Generate $38,908.2 Million in the 2022-2032 Timeframe Due to Ease of Availability of Different Products

Party supplies essentially include all the accessories required for a celebratory events like birthdays, wedding receptions, family get-togethers, college reunions, housewarming parties, office parties, etc. Party supplies such as balloons, banners, wall decorations, fairy lights, confetti, party hats, yard signs, centerpieces, etc., add glamor and charm to such celebratory events and enhance the “feel good” quotient and mood of the guests.

Forecast Analysis of the Party Supplies Market

Growing demand for party supplies and the ease of availability of different products is predicted to push the party supplies market to register a huge growth in the forecast years. Along with this, growing popularity of party supplies across event management sector is expected to boost the market further. Furthermore, growing popularity of online party supplies retail platforms is predicted to offer numerous growth opportunities to the market in the analysis timeframe. However, harmful effects of non-biodegradable products on environment and ecology may hamper the growth of the party supplies market in the forecast period.

Regionally, the party supplies market in the Asia-Pacific region is expected to have the fastest growth rate in the forecast period. The different kinds of festivals and cultural events celebrated in countries like India, China, Japan, etc., is expected to be the primary growth driver of the market in this region.

As per a report by Research Dive, the global party supplies market is expected to reach a revenue of $38,908.2 million in the 2022-2032 timeframe, thereby growing at a stunning CAGR of 8.9% by 2032. Some prominent market players include American Greetings Corporation, Martha Stewart Living Omnimedia, Inc., Shutterfly, Inc., Chinet, Party City Holdco Inc., Pioneer Worldwide, Hallmark Licensing, LLC., Oriental Trading Company (OTC), Unique Industries, Inc., Artisano Designs, and many others.

Covid-19 Impact on the Market

The Covid-19 pandemic and the subsequent lockdowns have had a catastrophic impact on various businesses and markets worldwide. The party supplies market, too, faced a similar fate. The social distancing norms, travel restrictions, and lockdowns put in place to curb the spread of the virus led to an overall decline in the number of events being held. This caused a reduction in the demand for party supplies which brought down the growth rate of the market in the forecast period.

Party Supplies Market Trends and Developments

The key players of the market are adopting various business strategies such as partnerships, mergers & acquisitions, and launches to gain a leading position in the market, thus helping the party supplies market to flourish. For instance:

• In October 2021, Amscan, a major manufacturer and distributor of party products, announced the acquisition of Ginger Ray, a global celebrations brand. The acquisition is expected to help the acquiring company, i.e., Amscan to increase its footprint in the party supplies market substantially.
   
• In September 2022, Amscan, a leading party supplies provider, announced that it was acquiring Partykungen, an e-commerce company that supplies party costumes, gifts, and similar items. This acquisition is predicted to boost the market share of Amscan significantly in the next few years.
   
• In November 2022, Pukka Pads, a leading high quality paper pads and notebooks supplier, announced the acquisition of Party Centric, a Yorkshire-based party supplies provider. This acquisition is predicted to help Pukka Pads to expand its footprint in the market and cater to the demands of its customers in a better way.