The global party balloon market size is predicted to reach US$ 2.3 billion by 2030, growth is expanding at a CAGR of 5.2% during the forecast period 2021 to 2030.
Party balloons are decoration materials used at birthday parties, weddings, corporate functions, school events, and for other festive gatherings. Party balloons are mostly made of natural latex, tapped from rubber trees, and can be filled with air, helium, water, or any other suitable liquid or gas. The rubber's elasticity makes the volume adjustable.
The global party balloon market would be largely driven by growth in celebration culture, rise in development of theme-based biodegradable balloons, and increase in demand for cost-effective decorative material, which are expected to boost the market during the forecast period.
Action taken by environmentalists has prompted manufacturers to develop eco-friendly 100% latex balloons, which do not impact marine and wildlife. The trend for party balloons is shifting toward balloons of various shapes and sizes with latex materials instead of foil or plastic.
Moreover, demand for low-cost products has increased in developing countries, which has fueled the demand for latex balloons. Cartoon character-printed balloons and message-printed balloons are gaining popularity. Additionally, a large number of players provide options to customers to order custom-printed balloons as per their requirement.
Drivers, Opportunities, and Restraints
Celebration of festivals is a major aspect of human society and balloons are used in large volumes for decoration. Moreover, balloons have been a major decoration element in Western (Europe and North America) society. Party balloons are cost-effective and can be utilized in creative ways as per the occasion. Birthdays, weddings, and anniversaries are common occasions across the globe that account for a major share of the global party balloon market. The culture of celebration of such occasions in developing and developed nations is driving the market for party balloons.
Demand for environment-friendly balloons has been increasing globally; thus, manufacturers are focusing on the development of clean latex balloons without harmful chemical treatment. A large number of manufacturers has already begun manufacturing 100% latex balloons, which they claim are biodegradable and environment-friendly. This is likely to boost the demand for party balloons and is projected to create significant opportunities for manufacturers and distributors during the forecast period.
The COVID-19 pandemic has led to restrictions on social gatherings in most countries, which is likely to drastically reduce the demand for balloons in the market. Demand is anticipated to remain sluggish for 2020 and during a few months of 2021.
Many environmentalists consider balloons as a source of environment pollution. Additionally, when balloons end up floating in waterways, animals often mistake them for colorful prey, such as jellyfish, and eat them. This factor is also projected to hinder the growth of the party balloon market during the forecast period.
Sustainable and Reusable Party Décor Helps Reduce Environmental Footprint
The growing awareness about balloon littering is anticipated to hurt the sales of party balloons. It has been commonly observed that party balloons are not efficiently recycled and many a times do not reach landfills, thus ending up in rivers and seas causing pollution. Hence, manufacturers are increasing their production capabilities to produce biodegradable party balloons to efficiently decompose and prevent them from adding to the already high environmental footprint.
Sustainable and reusable party décor is the highlight among individuals who are environment conscious. Hence, manufacturers in the party balloon market are focusing on developing materials that help in producing reusable balloons.
Extravagant Wedding Themes Translate into Revenue Opportunities for Party Balloon Manufacturers
In order to capitalize on revenue opportunities, manufacturers in the party balloon market are increasing their focus on wedding balloon décor installations. After zeroing down on important wedding preparations such as F&B services and wedding dresses, individuals move toward finer details such as wedding decorations. Thus, manufacturers are identifying specific needs of individuals for pearl-themed weddings that add glamour and grandeur to events. Other breakout wedding themes include balloon ceilings and textured balloon décor that help to enhance the aesthetic appeal of venues.
Orb balloons and large party balloon décor displays are being tailored according to the preferences of the wedding couple. Manufacturers in the party balloon market are capitalizing on the trend of celebrity-style weddings that individuals are opting for as a result of social media influence.
According to the party balloon market report, the product segment has been divided into latex party balloon and foil party balloon. In terms of type, the party balloon market has been divided into printed and non-printed. Increasing popularity of printed balloons among children and their luring appearance is likely to drive the market for printed balloons during the forecast period.
Based on size, the market has been divided into less than 15”, between 15” to 30”, and more than 30”. As per distribution channel, the global party balloon market has been bifurcated into online and offline. Companies are offering their exclusive range of party balloons on company-owned websites and e-Commerce websites. The boom of the e-Commerce industry has created significant opportunities for manufacturers and distributors to sell their products in various countries across the globe.
The rise of the corporate culture has significantly boosted the demand for party balloons, owing to the use of party balloons for numerous professional as well as cultural events. Moreover, party balloons are a key decorative element in corporate offices during national and international festivals for office decoration. Increasing human resource activities in organizations to maintain team spirit of employees plays a key role in driving the market for party balloons. Manufacturers may consider focusing on the expansion of their distribution and manufacturing units in Asia Pacific, owing to the rise in demand for party balloons, which is projected to generate new opportunities for manufacturers and suppliers in the near future.
Asia Pacific was the dominant and the fastest growing market for party balloons in the 2019. China and India are major markets for party balloons in the Asia Pacific region. China and India are responsible for the growth of the party balloon market, as they have a notably high urban population compared to other countries. The rise in the usage of party balloons in private parties, wedding ceremonies, corporate events, etc., is projected to drive the party balloons market in this region. Chinese imports have been increasing in Asia Pacific countries in recent years.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global party balloon market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
Key players operating in the global party balloon market include Amscan Inc., Balonevi, Belbal, Buttericks Leco AB, CTI Industries, Folat B.V., Galaxy Balloon Inc., Gemar Srl, HI-FLOAT, Lufi Expressz, Maple City Rubber, Melloc Handelsgesellschaft und Agentur GmbH, Passatgummi Schreven GmbH & Co KG, Pioneer Worldwide, Progressive Balloons Inc., Rubek Balloons, Sempertex, TAILLOON Balloons, Wisa Enschede B.V., and Xiong County Hengli Latex Products Co.
By Distribution Channel
This report focuses on party balloon market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall party balloon market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global party balloon market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global party balloon market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the party balloon market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of party balloon are as follows:
The research methodology adopted by analysts for compiling the global party balloon market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global party balloon market.
The study objectives of this report are:
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