The Europe Party Supplies Market would witness market growth of 8.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 295.4 million units, showcasing a growth of 8.4% (2019-2022).
People are inclined to spend on events & supplies, such as balloons, games, tableware, and others, to make their party attractive & pleasing and enhance their party themes. This, in turn, has driven the growth of the market in terms of value sales. Furthermore, innovations and development in product and event planning services have been supporting the sales of these supplies.
In the market, manufacturers are focused on continuous innovations in their products to provide a wide range of innovative & attractive products to their customers. For instance, Party City manufactures and offers these supplies that consumers can match with the theme of their party or occasion. In addition, it offers personalized supplies, such as banners, personalized favors, & tableware, and offers eco-friendly supplies and others. Therefore, the demand for these supplies is increasing exponentially, which has driven the growth of the market in terms of value sales.
Germany has become a sought-after destination for weddings, attracting couples worldwide. The country's picturesque settings and efficient wedding planning services and infrastructure contribute to the growth of wedding tourism. Additionally, according to the UK government's Office for National Statistics, people's median disposable income reached £32,300. In contrast to a longer-term gain of 1.7% per year over the ten years preceding 2022 (FYE 2013 to FYE 2022), the median household disposable income climbed by an average of 0.7% per year between FYE 2020 and FYE 2022. The growth in disposable income supports the success of specialized party supply retailers and boutiques. Consumers with higher spending capacity may seek unique and niche products that cater to specific themes or occasions. Therefore, the factors mentioned above will propel the market growth in this region.
The Germany market dominated the Europe Party Supplies Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,503.9 million by 2030. The UK market is exhibiting aCAGR of 7.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 9.1% during (2023 - 2030).
Free Valuable Insights: The Global Party Supplies Market will Hit $23.5 Billion by 2030, at a CAGR of 8.7%
Based on Application, the market is segmented into Domestic Use, and Commercial Use. Based on Distribution Channel, the market is segmented into Supermarket & Hypermarket, Specialized Stores, Convenience Stores, E-commerce, and Others. Based on Product Type, the market is segmented into Tableware & Disposables, Home Décor, Balloons, Banners, Take Away Gifts, Pinatas, Games, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Application (Volume, Million Units, USD Billion, 2019-2030)
By Distribution Channel (Volume, Million Units, USD Billion, 2019-2030)
By Product Type (Volume, Million Units, USD Billion, 2019-2030)
By Country (Volume, Million Units, USD Billion, 2019-2030)
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