Party supplies market seen reaching $28.8 billion by 2031

Allied Market Research says the global party supplies market was worth $12.3 billion in 2021 and could more than double to $28.8 billion by 2031. Growth is being driven by online shopping, event spending, urbanization and demand for themed and eco-friendly products. Why it matters: - The party supplies market is projected to nearly triple over the next decade, signaling stronger spending on events, celebrations and related retail categories. - Growth in e-commerce and urban lifestyles is broadening access to balloons, tableware, banners, pinatas and other event items. - The forecast suggests opportunity for brands, retailers and manufacturers that can serve both domestic and commercial buyers. What happened: - Allied Market Research valued the global party supplies market at $12.3 billion in 2021. - The market is estimated to reach $28.8 billion by 2031. - The report forecasts a 9% compound annual growth rate from 2022 to 2031. - The report covers product type, application, distribution channel and region. - The source report can be requested through Sample PDF . The details: - Party supplies include decorative and event items such as balloons, games, pinatas, tableware and banners. - The report says changing fashion and trends are fueling demand for more customized party accessories. - The leading brands supply products for birthdays, graduations, anniversaries, Christmas, Halloween and other occasions. - Distribution has expanded through online stores, supermarkets, hypermarkets and specialized stores. - The report says online shopping is helping customers find more options without visiting physical stores. - Urban population growth is a key market driver, with the United Nations projecting the share of the world’s population living in cities to rise from 55% now to 68% by 2050. - The report links that shift to higher spending on ceremonies, parties and events among urban consumers. - Demand from children has increased interest in cartoon-character themed party supplies. - Other growth drivers listed in the report include disposable income, innovation, wider product assortments, commercial use, unique designs and more color and material variants. - The report says latex and mylar balloons, along with theme parties, are among the strongest current trends. - COVID-19 reduced sales and revenue as social distancing and restrictions on gatherings cut events and parties. - The market is segmented into balloons, banners, pinatas, games, tableware/disposables, home decor, take away gifts and others. - The market is split by application into commercial use and domestic use. - The market is divided by channel into convenience stores, e-commerce, supermarket/hypermarket, specialized stores and others. - The report analyzes North America, Europe, Asia-Pacific and LAMEA. - The report also provides a purchase page through Buy Now and an Inquiry Before Buying link. Between the lines: - Domestic use led the market in 2021, which suggests household celebrations remain the core demand base even as commercial event spending grows. - Supermarket and hypermarket sales also led in 2021, but e-commerce is positioned as the fastest-growing channel because of convenience, selection and home delivery. - The report’s emphasis on eco-friendly party supplies points to a shift in buyer expectations beyond price and design. - North America held the largest share in 2021 and is expected to keep that lead through the forecast period. What’s next: - E-commerce is expected to keep gaining share as more consumers buy party supplies online. - The wedding planning and event management industries are expected to add demand over the forecast period. - Manufacturers introducing eco-friendly products may capture more value sales as sustainability becomes more important. - Key players in the market include Party City, Unique Industries, Martha Stewart, American Greetings, Pioneer Worldwide, Hallmark, Shutterfly, Artisano Designs, Chinet and Oriental Trading Company. - Similar reports listed by Allied Market Research include Music Event Market, U.S. Corporate Event Market, Corporate Luxury Events Market , Europe Events Market and Event Pro-Av Services Market . The bottom line: - The party supplies market is growing fast, and the biggest gains appear to be coming from online sales, themed products and event-driven spending.