Party Latex balloons are made up of natural rubbers that extracted from Para rubber trees, these balloons are eco-friendly and non-toxic for environment at it easy get decompose in environment. Party latex balloons are majorly used as decoration material for ceremonies, birthday parties, events and on other occasions. Many different types of party latex balloons are available for different types of decorations such as standard balloons for corporate parties and character balloons for baby showers. Party latex balloons market has shown a significant growth in last few years as there is rapid increase in number of events and events management companies. Surge in innovation of party latex balloons and rise in number of balloons activities is a major factor in growth of global party latex balloons and expected to be more inclining in forecast period.
COVID-19 Impact Analysis-
- During COVID-19, many industries were suffering from economic crises; spread of Wuhan virus has led to damages on global party latex balloons market.
- To control spread of corona virus diseases, Nation-wide lockdown was imposed by government resulted in huge disruption in supply chain of raw material and disordering of production cycle of globalparty latex balloons market.Restraints were imposed by government on several mega stores, hypermarket and other retail store that led to great hampering in demand of global party latex balloons market.
- Restraints were imposed by government on ceremonies, wedding, parties and concerts to avoid gathering and controls spread of Wuhan virus is resulted into great decline in demand of party latex balloons as these balloons are majorly used in parties and events for decoration purposes.
- E-commerce has played vital role in uplifting supply chain of party latex balloons market, as it helps to cover wider range and cater demands of customer, rise in adaption of e-commerce platform by sellers is helping to gain traction again. Customers are also started shifting to online shopping method and hesitating and avoiding to going for instore purchases to control spread of corona virus diseases.
Top Impacting Factors-
- Event industries are growing at significant rate in last few years as event management companies organize events and ceremonies for people and offers professional services to guest. They make sure that event must go without any interruption and complete it successfully; they arrange all the resources from decoration to catering. Event companies and event management organizations are major user of party latex balloons as they require balloons on large scale for decoration of huge and big halls or space. Rapid growth of event companies is a key driver in growth of global party latex balloon market.
- There is rapid increase in number of parties and events on global level, many organizations or groups are organizing huge events, concerts and theme parties for people as they love to enjoy parties and highly paying for fun activities. Especially youngsters are more attracted toward parties and concerts, organizing parties and event have become one of the most profitable businesses now a day, large quantity of latex balloons are used in organizing of parties and events as it helps to offer aesthetic appearance to party decor. Globally increase in number of events, parties and concerts are a key factor in growth of global party latex balloons market.
- Now a day consumer have become more concerned about environmental factors as non-biodegradable balloons are highly polluting land and water bodies. Non-biodegradable balloons are very dangerous to water animals such as fish, turtles and other invertebrates, these balloons are killing countless water and land animals. They are also travelling through water bodies and also polluting other remote and pristine place, rising environmental concern among people and increase in awareness among consumers about biodegradable latex party balloons is a prime factor in growth of global party latex balloons market.
- Key player are highly investing in innovation of products and engaged with research &development process, to offers improvised and innovative products to catering demand of consumers and to compete with competitors and rival products. Key player have introduced party latex balloons in different colors and shapes that is more attractive and stylish as it helps to make tuning with decor and delivers more aesthetic appeal. Latex balloons are made up of natural a rubber that is 100% safe and non-toxic for environment, many key players have also started manufacturing latex balloons in different characters that is used in different occasions such as birthdays and baby showers. Surge in Innovation of party latex balloons is a prominent factor in growth of global party latex balloon market.
Rapid growth and adaption of e-commerce platform
Usage of Internet is rapidly increasing among people as consumers stay more active on social media platforms and become more dependent on e-commerce services. Social media has great impact on consumer choices as it helps to spread awareness among consumers about new and prevailing trend, latex balloons offers enhancive experience to consumers and deliver aesthetic appeal to decoration. People have become more dependent on e-commerce services for purchasing of various products as it helps to make their life effortless and also offers delivery of goods at consumers door step. Increase in usage of internet is utmost factor that is propelling growth of global party latex balloons market.
Rise in number of balloon activities
Balloon activities are gaining prominence among children as these activities are fun activity and promotes growth and development of children's, ballots are very inexpensive and entertain kids, children and toddlers in various ways. Balloon games and activities such as surprise pop, balloon tennis, protect your balloons, Balloon waddle race and pass the Balloon are major games and activities that are organized in schools, play groups and nursery for speedy growth of kids. Balloons are also used in treatment of various color blindness therapies that helps people to differentiate balloons by different colors, stickers and markers. Rise in number of Balloon activities is major factor that is accelerating growth of global party latex Balloons market.
Rise in number of virtual parties
After spread of corona virus diseases people have started using virtual party option, parties such as birthday parties, get together and other occasions were started celebrating on virtual platform to control spread of corona virus diseases. People are decorating their homes and other places with balloons and make video conferencing to celebrate birthdays and fairy-tale themed parties for kids. These virtual parties adds fun and helps to keep kids cheerful, rise in trend of virtual parties to control spread of corona virus diseases is one of main factor that is fueling growth of global party latex balloons market.
Key Benefits of Report-
- This study presents the analytical depiction of the party latex balloons Industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the party latex balloons marketshare.
- The current market is quantitatively analyzed to highlight party latex balloons market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed party latex balloons market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Report –
- Which are the leading players active in the party latex balloons market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is the party latex balloons market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the current trends and predicted trends?
Party Latex Balloon Market Report Highlights
By Products Type
By Price Point
By Distribution Channel
Key Market Players
Pioneer Balloon Company, Qualatex, Conwin Duplex, Mayflower Distributing, Betallic Balloons, Anagram, Bez Worldwide, Unique Industries, Creative Balloons Manufacturing, Tamara Rubber Company