Global Party Balloon Market Size, Trends & Analysis with COVID-19 Impact - Forecasts to 2026 By Type of Product (Latex Party Balloons and Foil Party Balloons), By Type of Application (Commercial, Residential, and Others), By Type of Filling (Inert Gases, Non-Inert Gases, and Liquids), By Type (Printed and Non-Printed), By Type of Distribution Channel (Online and Offline [Supermarket/ Hypermarket, Specialty Store, and Retail Shops]), By Region (NA [North America], Europe, APAC [Asia Pacific], MEA [the Middle East & Africa], and CSA [Central & South America]), End-User Landscape, Vendor Landscape, Company Market Share Analysis & Competitor Analysis
Global Party Balloon Market Insights
The global party balloon market is considered to constitute a notable expansion in CAGR by 5.25% during the prediction period (2020-2026). A balloon has a flexible bag-like structure that can be inflated with gases such as nitrogen, helium, oxygen, and air or with liquids such as water. Due to the adverse effects of COVID-19, organizations and institutions had to conform to a global lockdown for safety purposes. Hence, the market saw a constant deterioration in the production and manufacturing of party balloons. But, after many corporations have resumed operations and everyday life has started progressing towards a new normal, we can expect to see a tremendous magnification in the global market. An increase in the organization of occasions like marriages, birthday parties, & anniversary parties, a sharp increase in the retail sector, and a potential accession in the party decor management in various nations add to the exponential progress of the global market.
Global Party Balloon Market: By Type of Product
The market classification is based on products into latex party balloons and foil party balloons. Foil party balloons segment is witnessed to have a steady escalation. An increase in demand for artistic balloons, cost-effective charges, and an extensive range of applications in various industries are the accelerators of the global party balloon market.
Global Party Balloon Market: By Type of Application
Based on the type of application, the market can be bifurcated as Commercial, Residential, and Others. The application in the commercial sector is set to contribute the largest share in the projection period. An increase in urbanization, booming sector of event management, and radical transformation in lifestyle are drivers navigating the extension in the market.
Global Party Balloon Market: By Type of Filling
Various types of party balloons fillings are inert gases, non-inert gases, and liquids. Inert gases such as helium are gases that are resistant to chemical reactions under any given conditions. Non-inert gases are prone to chemical variations. The inert gas segment is the fastest-growing in terms of the party balloon market. The factors such as the upsurge in population and the rise in employment in various verticals boost the growth of the market.
Global Party Balloon Market: By Type
Based on type, the market segmentation can be analyzed as printed and nonprinted party balloons. These types of balloons can also be observed in distinct shapes such as the oval, cylindrical, heart, and many more. Printed balloons will overhaul non-printed balloons in the subsequent period. The pillars leading towards the accentuation of the market are an increment in the number of formal & informal parties and accretion in demand for party balloons.
Global Party Balloon Market: By Type of Distribution Channel
Party balloons can be distributed through online mode as well as offline mode. Supermarket/ Hypermarket, Specialty Store, and Retail Shops are types of offline mode of distribution channel. Online mode is set to dominate the market in the forecast period with the help of propellors such as a rise in internet usage, increased dependency on digital payments, and the growing repute of e-commerce platforms peddling forward the growth of the market.
Global Party Balloon Market: By Region
North America has been the leading region for the precedent years as many companies are based in the U.S., Canada, and Mexico, yet APAC will dominate the market with the aid of drivers such as an increase in e-commerce platforms, large adult population in developing countries like India, China, and Singapore and increase in event management industries that will steer the market to exceptional augmentation.
Global Party Balloon Market Share and Competitor Analysis
The key players operating in the market are Progressive Balloons Inc, Balonevi, Xiong County Hengli Latex Products Co, Amscan Inc., Belbal, Buttericks Leco AB, Galaxy Balloon Inc., Pioneer Worldwide, Gemar Srl, CTI Industries, Passatgummi Schreven GmbH & Co KG, Lufi Expressz, and Folat B.V., among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Party Balloon Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Party Balloon Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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