The Growing Party Supplies Market
As the world gradually reopens and social events continue to increase, consumer demand for party supplies has increased significantly.
More and more people are hiring event planners and wedding coordinators because they want to throw awesome parties and celebrate special occasions in style. This trend is being fueled by the popularity of social media and the internet. Plus, it’s easier than ever to buy party supplies online and get great deals. As COVID-19 cases decrease and more people get vaccinated, lockdown restrictions are being lifted. This means that parents are now buying party supplies to celebrate their children’s birthdays and make them feel special, even if it’s just a small gathering. All of these factors are helping the party supplies market grow.
According to the United Nations (UN), urban population, which is 55% of the world’s population presently, is projected to reach 68% by 2050. The increase in urban population is driving the global party supplies market, as urban dwellers prefer events and parties to connect with loved ones and are willing to spend on supplies to enhance their gatherings.
The global party supplies market size reached US$ 13.2 Billion in 2022. Looking forward, The market is expected to reach US$ 21.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.
Party Supplies Industry Booming
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Party supplies are special items that help party planners decorate and set the perfect mood for party locations.
Party supplies including balloons, hats, napkins, decorations, candles, signs, guest books, souvenirs, invitations, banners, and tableware are used to make events memorable and can be stored for future use. Paper party supplies are becoming more popular due to environmental concerns.
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