LATAM Party Supplies Market Size Worth USD $2,910.7 million by 2032 | Growth Rate (CAGR) of 8.8%

LATAM Party Supplies Market by Product type, Application, Distribution Channel, and Country: Opportunity Analysis and Industry Forecast, 2022-2032

DELAWARE, WILMINGTON, UNITED STATES, April 17, 2024 /EINPresswire.com/ -- The LATAM party supplies market size was valued at $1,258.7 million in 2022 and is projected to reach $2,910.7 million by 2032, registering a CAGR of 8.8% from 2023 to 2032.

📚 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗦𝗮𝗺𝗽𝗹𝗲 𝐏𝐃𝐅 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/287984

According to a new report published by Allied Market Research, titled, "LATAM Party Supplies Market by Product type, Application, Distribution Channel, and Country: Opportunity Analysis and Industry Forecast, 2023-2032,"

Party supplies are materials that are required for a party or event. They include various decorative materials such as balloons, games, pinatas, tableware, banners, and others.

The party supplies market is experiencing exponential growth due to emerging fashion and trends. There has been a lot of innovation and utilization of party supplies as accessories, wherein the items are designed according to the occasion.

The leading brands produce supplies for occasions such as birthdays, graduations, anniversaries, Christmas, Halloween, and others. In addition, expansion of distribution channels, such as online stores, supermarkets, hypermarkets, specialized store, and others, has made these party supplies become easily available to customers, thereby contributing to the LATAM party supplies market demand.

Increase in awareness among kids has also created demand for cartoon character theme party supplies. Change in fashion & trend, theme parties, increase in awareness, surge in disposable income, innovation & technology, expansive categories of supplies, commercial use of supplies, unique designs, and variants in color & material drive the growth of the LATAM party supplies market.

Moreover, theme parties and use of latex & mylar balloons and in events & parties are the leading LATAM party supplies market trends now.

The lockdown scenario caused due to the COVID-19 pandemic has caused the party supplies market to witness a loss in sales and revenue.

This is attributed to the fact that customers across the globe are maintaining social distancing and restricting themselves from going out frequently to avoid getting infected with COVID-19.
Therefore, social distancing and minimum gathering have led to cancellation of various events and parties, thereby leading to loss in sales of various party supplies in terms of value sales. Thus, restricting the LATAM party supplies market growth.

The LATAM party supplies market is segmented into product type, application, distribution channel, and region. By product type, the market is classified into balloons, banners, pinatas, games, tableware/disposables, home decor, take away gifts, candles, gift wrap and others.

Based on application, the market is divided into commercial use and domestic use. Based on distribution channel, the market is divided into supermarket/hypermarket, convenience stores, specialized stores, e-commerce, others.

Country wise, the market is analyzed across Mexico, Chile, Brazil, Colombia, Peru, and Rest of LATAM.

By product type, the home decor segment accounted for more than 14.0% of the market share in 2022, in terms of revenue. Home decor is one of the key decorative elements in parties and events.

It is used for decoration purposes to make the space aesthetically pleasing. In addition, it has become the highlight of events and parties.

Moreover, commercial end-users look for innovative lights and decorative items to make their parties & events more attractive & pleasing. This, in turn, fuels the growth of the LATAM party supplies industry.

Based on application, the domestic use segment led the market and accounted for more than 70% of the LATAM party supplies market share in 2022 and is expected to maintain its dominance during the forecast period. The household sector is the main sector of consumption in an economy.

This sector includes the final consumers or end users of goods & services manufactured by different firms. They create demand in the market according to their needs & preferences.

Based on distribution channel, the e-commerce segment is anticipated to be the fastest-growing segment, in terms of value sales, during the party supplies market forecast period, owing to the rise in use of online platforms or e-commerce for purchase of party supplies among customers. This is attributed to the easy availability of different brands, designs, and types of party supplies available through online platforms.

Moreover, online stores have time-saving features and the facility of home delivery, which made consumers incline toward online stores. In addition, owing to the COVID-19 pandemic, consumers have restrained themselves to go outside their homes and in crowded places such as supermarkets and hypermarkets.

This has increased the distribution of party supplies through online stores and is expected to propel the demand for the party supplies during the LATAM party supplies market forecast.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-for-customization/287984

Some of the key players profiled in the LATAM party supplies market analysis include
• Balões São Roque,
• Festas e Fantasias,
• Sempertex De Colombia SAS,
• Grupo Junco,
• Regina Indústria e Comércio SA,
• Big Surprise,
• Globos Payaso,
•Tilly of Guatemala S.A.,
• Festcolor,
• Argos Limited, and
• Cotillón Otero.

Key findings of the study
• By product type, the candles segment is projected to witness the highest CAGR of 9.8%, in revenue terms, during the forecast period.
• By application, the commercial use segment is projected to witness the highest CAGR of 8.8%, in revenue terms, during the forecast period.
• By distribution channel, the e-commerce segment is anticipated to witness the highest growth rate, registering a CAGR of 9.5% from 2023 to 2032.
• By country, Peru is projected to witness the highest CAGR of 9.5%, in revenue terms, during the forecast period.

LATAM Party Supplies Market Report Highlights

By Product type
• Balloons
Latex Balloons
Foil Balloons
Printed Balloons
Others
• Banners
• Pinatas
• Games
• Home Decor
• Tableware/Disposables
• Take Away Gifts
• Candles
• Gift Wrap
• Others

By Application
• Commercial Use
• Domestic Use

By Distribution channel
• Supermarket/Hypermarket
• Convenience Stores
• Specialized Stores
• E-commerce
• Others

By Country
• Mexico
• Chile
• Brazil
• Colombia
•Peru
• Rest of LATAM

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/f58746e30158ae8d5a6aa1eff0f3f8cc

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David Correa
Allied Market Research
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