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PORTLAND, OREGON, UNITED STATES, September 15, 2022 /EINPresswire.com/ -- Party supplies market provides an overview of the industry based on key parameters such as market size, sales and key drivers. The market report is conducted covering the operations of various organizations in the industry across the country. The analysis is a perfect amalgamation of qualitative and quantitative information underlining key market developments and challenges that the industry is facing along with new opportunities available in the Party supplies market. The report cites the factual data during the estimated period. The overall challenges and opportunities of the market are also depicted in the report.

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The report further manifests a viable market scenario based on key product offerings. Porter’s five forces analysis, on the other hand, exemplifies the potency of buyers & suppliers in the sector. The report provides the detailed party supplies market analysis and illustrates how the competition will take shape in the coming years. Portraying the top 10 major players operating in the market, the study highlights the strategies incorporated by them to brace their stand in the industry.

Key takeaways of the report • An interpretative depiction of the party supplies market along with the current trends and future valuations to support the investment pockets. • Leading revenue generating segment along with provincial trends and opportunities • Qualitative assessment of market drivers, challenges, opportunities, and trends • Regulatory procedures and development trends • Company profiles along with their financial details and investment plans • Assessment of recent developments and strategies and their impact on the market

The market for party supplies worldwide was estimated to be worth $12,657.9 million in 2019 and is anticipated to grow to $20,291.7 million by 2027, with a predicted CAGR of 8.8% between 2021 and 2027. Due to the expansion of the wedding planning and event management industries globally, it is anticipated that the demand for party supplies would rise throughout the forecast period. The market for party supplies is also seeing a lot more eco-friendly products introduced, which is anticipated to help it grow in terms of value sales during the projected period.

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Kids' growing knowledge has also increased the demand for party items with cartoon character themes. The global market for party supplies is expanding as a result of changes in fashion and trends, theme parties, rising awareness, a rise in disposable income, innovation and technology, broad categories of supplies, commercial use of supplies, distinctive designs, and variations in colour and material. The use of latex and mylar balloons in events and parties, as well as theme parties, are now the top party supply market trends.

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. 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 décor, 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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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.

Key findings of the study •By product type, the tableware/disposables segment accounted for the highest party supplies market share in 2019, growing at a CAGR of 6.4% from 2021 to 2027. •By application, the domestic use segment accounted for the highest market share in 2019, growing at a CAGR of 8.5% from 2021 to 2027. •By distribution channel, the supermarket/hypermarket segment accounted for the highest market share in 2019, growing at a CAGR of 7.6% from 2021 to 2027. •By region, North America occupied maximum share in the party supplies market in 2019 and is expected to dominate the market during the forecast period.

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.

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David Correa Allied Analytics LLP 800-792-5285 email us here Visit us on social media: Facebook Twitter LinkedIn

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