Global Party Supply Rental Market Size By Types of Party Supplies, By Events or Occasions, By Customer Segments, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Party Supply Rental Market Size By Types of Party Supplies, By Events or Occasions, By Customer Segments, By Geographic Scope And Forecast
Party Supply Rental Market Size And Forecast
Party Supply Rental Market size is valued at USD 12.38 Billion in 2023 and is projected to reach USD 31.31 Billion by 2030, growing at a CAGR of 14.85% during the forecast period 2024-2030.
Global Party Supply Rental Market Drivers
Many market factors affect the growth and demand of the party supply rental industry. The decision to rent party supplies rather than buy them is influenced by a number of factors, including consumer preferences, economic conditions, and society trends. The Party Supply Rental Market is driven by the following major factors
Customer Preferences for Sustainability Renting party supplies is becoming more and more popular as a more sustainable alternative to single-use throwaway things as people become more conscious of environmental issues and want to minimize waste.
Savings Renting party goods is frequently a more affordable option for consumers on a tight budget than buying products that might only be utilized once.
Variety of Events A wide range of party supplies that are available for rental are in high demand due to a variety of events and occasions, including weddings, corporate meetings, birthday celebrations, and holidays.
Convenience By removing the need for supply storage, upkeep, and cleaning, party supply rental businesses allow customers to choose and rent products online or in-store.
Minimal Storage Space Renting relieves people of the burden of having to store a lot of party materials, which is especially convenient for people who don’t have a lot of storage space.
Popularity of Large-Scale Events As the number of large-scale events—like concerts, festivals, and corporate gatherings—increases, so does the need for large-scale supply rentals.
Decline in Single-Use Plastics As people become more conscious of how single-use plastics affect the environment, they look for alternatives. One such option is to rent reusable party supplies made of sustainable materials.
Decreased Risk of Overcommitment Renting spares customers the expense of buying and storing a large variety of products for special occasions.
Global Party Supply Rental Market Restraints
The market for party supply rentals is expanding, but it also confronts some obstacles that could hinder its growth and profitability. Economic considerations, legal obstacles, and consumer preferences all frequently have an impact on these restrictions. The following are some typical market barriers that affect the Party Supply Rental Market
Economic Uncertainty Consumers may decide to spend less on discretionary items, such as renting party supplies, as a result of economic downturns and financial instability.
High Level of Competition Rental companies may face price wars and lower profit margins as a result of the party supply industry’s often fierce competition.
Logistics and Transportation Costs When renting out party supplies, companies may find that their profits are affected by the costs associated with delivery and pickup of large or heavy products.
Regulatory Compliance Adhering to municipal and state laws, such as those pertaining to insurance requirements, safety requirements, and licences for outdoor events, can make running a rental business more difficult and expensive.
Seasonal Demand There may be seasonal variations in the market for party supply rentals. For example, there may be a spike in demand during the wedding and holiday seasons, but a decrease in demand during off-peak times.
Inventory Control To satisfy changing customer needs and avoid loss or damage, rental companies need to efficiently manage their inventory.
Damage & Loss The rental firm may have to pay for replacement or repair expenses if any of the products are damaged, lost, or stolen.
Depreciation Due to wear and tear, rental objects may lose value over time and require periodic replacements or renovations.
Environmental Issues Transporting huge, bulky things can have an adverse effect on the environment, notably in terms of carbon emissions and sustainability.
Global Party Supply Rental Market Segmentation Analysis
The Global Party Supply Rental Market is segmented on the basis of Types of Party Supplies, Events or Occasions, Customer Segments, and Geography.
Party Supply Rental Market, By Types of Party Supplies
Tableware and LinensThis segment includes items like plates, cutlery, glasses, napkins, tablecloths, and table runners.
Decorations and DecorDecor items consist of balloons, banners, streamers, centerpieces, table decorations, and themed decor.
Furniture and SeatingThis segment encompasses tables, chairs, lounge furniture, bar stools, and other seating options.
Tents and CanopiesRental of tents and canopies for outdoor events and parties, including various sizes and designs.
Audio and Visual EquipmentThis includes sound systems, projectors, screens, and lighting equipment for events with audio-visual needs.
Party Games and EntertainmentThis segment covers inflatable games, carnival games, and entertainment options like photo booths.
Catering EquipmentItems related to catering, such as chafing dishes, serving platters, drink dispensers, and cooking equipment.
Themed Party SuppliesRental of specific themed party supplies for various occasions, including holidays, birthdays, and seasonal events.
Dinnerware and GlasswareHigh-quality dinnerware and glassware rental for upscale events and weddings.
Outdoor Cooking and Grilling EquipmentGrills, smokers, and outdoor cooking equipment for barbecues and outdoor gatherings.
Party Supply Rental Market, By Events or Occasions
WeddingsParty supply rental services for weddings, including wedding decor, linens, furniture, and more.
BirthdaysRentals for birthday parties, including themed decor, balloons, games, and inflatables.
Corporate EventsServices catered to corporate gatherings, meetings, and conferences, often including audio-visual equipment and furniture.
Seasonal EventsRental of party supplies for seasonal events like Halloween, Christmas, New Year’s Eve, and other holidays.
GraduationsSupplies for graduation parties, including tents, seating, and decorations.
Outdoor EventsRental of supplies for outdoor events like picnics, barbecues, and garden parties.
Baby ShowersThemed party supply rentals for baby showers, including baby-related decor.
AnniversariesSupplies for anniversary parties, including tableware and decor.
Festivals and FairsRental of supplies for community festivals and fairs, including carnival games and tents.
Concerts and Music EventsRental services for music events, including sound systems and stage equipment.
Fundraisers and Charity EventsSupplies for charity and fundraising events, such as gala dinners and auctions.
Quinceañeras and Sweet SixteensThemed party supplies for these coming-of-age celebrations.
Party Supply Rental Market, By Customer Segments
Individual ConsumersThe party supply rental services for private individuals hosting personal events and celebrations.
Event PlannersRental services provided to professional event planners and coordinators.
Corporate ClientsRental services for businesses and organizations hosting corporate events and functions.
Nonprofit OrganizationsServices provided to nonprofit organizations hosting fundraising events and charity functions.
Government and MunicipalitiesRental services for government and municipal events and public gatherings.
Caterers and Catering ServicesRental of catering equipment and supplies for catering companies.
Party Supply Rental Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Party Supply Rental Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the global Party Supply Rental Market include
Pleasanton Rentals
Austin Party Central
Party Reflections
Resilient Furniture Co.
Taylor Rental
Ventura Rental Center
Avalon Tent
Party Rentals Plus
All Occasions Party Rentals
The Party People
American Party Equipment Rentals
CORT Party Rental
Report Scope
Report Attributes
Details
Study Period
2020-2030
Base Year
2023
Forecast Period
2024-2030
Historical Period
2020-2022
Unit
Value (USD Billion)
Key Companies Profiled
Pleasanton Rentals, Austin Party Central, Party Reflections, Resilient Furniture Co., Taylor Rental, Ventura Rental Center, Avalon Tent.
Segments Covered
By Types of Party Supplies, By Events or Occasions, By Customer Segments, and By Geography.
Customization scope
Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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