Transparency Market Research delivers key insights on the global party balloon market. In terms of value, the global party balloon market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global party balloon market report.
In the report, TMR predicts that 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.
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.
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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.
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Party Balloon Market: Prominent Regions
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.
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Party Balloon Market: Key Players
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.