- A printed balloon is a flexible or stretchable bag which can be filled with gas such as hydrogen, helium, oxygen, air, and nitrous gas (laughing gas). The balloons are made with materials such as latex, rubber, or a nylon fabric, and come in several colors. Balloons can be printed or non-printed and are used for decoration, entertainment, balloon modelling, and for publicity at events.
Key Drivers of the Global Printed Balloon Market
- Printed balloons are an important element for any kind of celebration such as birthday parties, corporate events, weddings, and other festive gatherings, which propels the growth of the printed balloon market. Printed balloons are popular among children which has encouraged manufacturers to produce printed balloons which are innovatively conceptualized, unique, and interesting too. The ecofriendly aspect is also considered majorly which compel manufacturers to produce latex balloons which are environment friendly and biodegradable.
- Printed balloons are a highly cost effective decorative item; hence, small and medium-sized businesses (SMEs) have been focusing on production of printed balloons due to increasing demand for these balloons at major events.
- In this period of coronavirus outbreak, people are restricted from celebrating events socially and thus they are organizing in-house parties and festive celebrations. Printed balloons are a mandatory decorative item, which ultimately drives the demand for printed balloons across the world.
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Factor Restraining the Global Printed Balloon Market
- The whole world is affected by the coronavirus disease (COVID-19), and people are restricted from going out and organizing or attending any party/function. This can be a hindrance for the growth of the printed balloon market across the globe.
Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global printed balloon market can be divided into five regions North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the printed balloon market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the printed balloon market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America printed balloon market is segmented into Brazil, and Rest of South America.
- North America accounted for largest share of the global printed balloon market due to a rising culture of celebrating occasions such as weddings, anniversaries, and birthdays in developed countries, which boosts the printed balloon market in the North America region.
- The printed balloon market in Asia Pacific region is projected to expand rapidly during the forecast period due to an increasing corporate culture which propels the demand for printed balloons that have become a mandate in parties and functions. In developing countries, small and medium scale industries (SMEs) are active in the production and retailing of printed balloons as it entails low operational cost with maintenance-free machines. Balloons are an important tool for publicity at major events wherein the design and company logo are printed onto the balloons. Hence, small scale manufacturing companies have wide scope to generate profit, and the manufacturing process is also rather simple.
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Key Players Operating in the Global Market
Manufacturers in the printed balloon market are focusing and introducing eco-friendly printed balloons with the vision of future sustainability. Manufacturers are now adopting latex compound for the production of balloons as it is cost effective, and the product is biodegradable. Hence, companies are focusing on environment friendly balloons, producing printed balloons without harmful chemical treatment.
