The global decorative foil balloon market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The increase in the population coupled with the growing disposable income of consumers is anticipated to drive the growth of the global decorative foil balloon market. According to the data published by United Nations –Organization, the global population is projected to increase by 2 billion persons in the next 30 years from 7.7 billion in 2020 to 9.7 billion in 2050 and could peak at nearly 11 billion around 2100. The growth has been driven by increasing urbanization and accelerating migration. 61.0% of the global population lives in Asia, 17.0% in Africa, 10.0% in Europe, 8.0% in Latin America, and the remaining 5.0% in Northern America. Moreover, as per the data published by Statistics Canada, the share of disposable income for the household in the lowest quintile increased from 6.1% in the first quarter to a high of 7.2% in the second quarter of 2020.
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The increase in the number of occasions such as weddings, birthday parties, and others for which people purchase decorative foil balloons is anticipated to drive the growth of the market. For instance, as per the Center for Disease Control and Prevention, approximately 2.1 million weddings took place annually between 2009 and 2019. Also, as per the Central Statistics Office, the number of marriages in 2019 accounted for 20,313, which equates to the marriage rate of 4.1 per 1000 population. According to WeddingWire India, approximately 2.5 million weddings took place in November and December 2021. Thus, the rise in the number of weddings is anticipated to fuel the demand for the global decorative foil balloons market during the forecast period.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- CTI Industries, Gemar Srl, Pioneer Balloons, and Maple City Rubber among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Decorative Foil Balloon Market Report by Segment
By Type
- Plain
- Numbers & Letters
- Others
By Application
- Commercial
- Residential
- Others
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