Dublin, Jan. 11, 2021 (GLOBE NEWSWIRE) — The “Party Supplies Market by Product Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
The global party supplies market was valued at $12,657.9 million in 2019, and is projected to reach $20,291.7 million by 2027, registering a CAGR of 8.8% from 2021 to 2027.
Party supplies are the essential items and accessories required to organize a party or event. They are available in different types, designs, and colors. Party supplies include balloons, banners, lights, candles, decorative bags & boxes, and others. In addition, party supplies are easily available in the market through various distribution channels, including online stores, supermarkets/hypermarket, specialized stores, and others. This, in turn, has driven the growth of the party supplies market in terms of value sales.
Growth in the wedding planning & event management industry across the globe fuels the growth of the market. Moreover, the rise in the urban population across the globe further fuels the growth of the party supplies market. However, a rise in consumer awareness regarding the harmful effects of non-biodegradable party supplies is expected to hamper the growth of the market. Furthermore, a rise in number of consumers considering eco-friendly party supplies and rapid growth of online retail platform are anticipated to offer lucrative opportunities for the market