Global Party Balloon Market is Projected to Reach US$ 2.5 Billion by 2031, Expanding at a CAGR of 4.0%: TMR Report

Wilmington, Delaware, United States, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global party balloon market is projected to flourish at a CAGR of 4.0% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 2.5 billion is anticipated for the market in 2031. As of 2023, the market for party balloons is expected to close at US$ 1.87 billion.

Increasing demand for party balloons at celebrations and events, such as birthdays, weddings, baby showers, anniversaries, corporate events, and holidays, drives the market growth.

Growing popularity for a wide range of celebrations, including birthdays, holidays, weddings, and corporate events. Consumers are increasingly looking for unique and personalized experiences. Customized balloons that feature specific colors, messages, names, and even images allow people to create a more personalized touch to their events, driving demand for these options.

The rapidly growing event planning and entertainment industry, including weddings, parties, and corporate events, drives the demand for balloons as essential decorative elements, this is expected to boost the market demand during the forecast period.

Increasing disposable income and increased consumer spending on the celebration, growing emphasis on theme parties has increased due to the higher influence of social media, are boosting the party balloons market growth.

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Market Snapshot:

Key Takeaways from the Market Study

• As of 2022, the party balloon market was valued at US$ 1.8 billion
• In terms of product type, the latex party balloon segment remains prominent accumulating a high revenue share during the forecast period
• Based on the distribution channel, the offline segment accounts for the prominent market share
• Based on the application, the commercial segment contributes to the larger share of the party balloons market, due to the increased use of party balloons in various events.

Party Balloon Market: Key Trends and Opportunistic Frontiers

• The party balloons market is well-established, with a strong presence of party supply stores and online retailers. Customization remains the key driver for market growth due to the growing trend of customizable balloons that match specific themes, colors, and messages to enhance party celebrations.
  
  
• The increasing demand for party balloons from the event management industry has spurred market growth. Due to busy lifestyles, people are arranging their celebrations through event management firms.
  
  
• Manufacturers are responding with sustainable alternatives as the demand for eco-friendly and biodegradable balloons has grown as consumers become more environmentally conscious.
  

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Party Balloon Market – Regional Analysis

• North America is anticipated to witness steady growth in the party balloon market because of its traditional culture of celebration. An increasing number of people spindling on festive decorations, such as birthdays, baby showers, holidays, and anniversaries, drive the market growth in the region.

• Asia Pacific is expected to remain the dominant region in the party balloons market and is expected to account for a higher share due to a surge in consumer spending, growth in celebration culture, and developing online retail. The increasing number of festival celebrations and growing disposable incomes drive the market demand in the region as balloons are used for traditional ceremonies, weddings, birthdays, and corporate events.

Competitive Landscape

Party balloon market report, the industry is fragmented with the presence of multiple players. The leading players in the party balloon market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global party balloon market report:

• Balloons Inc.
• Balonevi
• Belbal
• CTI Industries
• Galaxy Balloon Inc.
• Gemar Balloons
• Lufi Expressz Ltd.
• Pioneer Worldwide
• Sempertex
• Tailloon Balloons

Key Developments in the Party Balloons Market

• In April 2021 Gemar announced that The Best Balloon Company Sàrl, has joined as a Gemar Partner
• Balonevi, is doing world-class production using full automatic balloon production machines developed by research & development department and by technology development project developed by Tubita
• Lufibrand name premium party balloons are made with high-quality colored printings for European products, 30 cm in width when inflated. They are packed in BOPP bags with 2 sided foiled headings. All packed in 300 gr unique bags.
• In June 2022 – Continental American Corporation, Pioneer Balloon Worldwide (“PBW”), North America’s leading balloon manufacturer headquartered in Wichita, Kansas, is pleased to announce that it has appointed Advanced Sustainable Polymers Pte Ltd (“ASP”) as exclusive Supply Chain Manager for its Natural Rubber Latex (“NRL”) requirements.

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Party Balloon Market- Key Segments

By Product Type

• Latex Party Balloon
  • Solid Balloons
  • Metallic Balloons
  • Chrome Balloons
  • Printed Balloons
  • Confetti Balloons
  • Other (Clear Balloons, Marble Balloons etc.)
• Foil/Mylar Party Balloon
  • Number and Letter Foils
  • Shape Foils
  • Printed Foils
  • Other (Theme Foil, etc.)

By Price

• Low
• Medium
• High
  

By Size

• Less than 15"
• Between 15" and 30"
• More than 30"
  

By Distribution Channel

• Online
  • Company websites
  • E-commerce websites
• Offline
  • Supermarkets
  • Retail Shops
  • Other (specialty store, etc.)
    

By Application

• Commercial
  • HoReCa
  • Event Organizers
  • Other
• Residential
• Other (Government Organizations, Institutions, etc.)

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
  

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