Recent research has revealed that the party balloon market is predicted to reach a value of $2.4 billion by 2030 and is estimated to grow by about 5% each year over the next decade.
The report, which was undertaken by Transparency Market Research, investigated the increase in interest in the balloon market during the pandemic as consumers continue to look to create a party atmosphere at home.
The report said that ‘birthday parties are getting a makeover amid the coronavirus pandemic‘, pointing out that consumers are transforming their homes and gardens using party props such as latex and foil balloons and paper garlands to make the most of their smaller, home-based celebrations.
It went on to state that this boost in business has resulted in ‘a number of companies in the party balloon market increasing their production capacities to meet customer demands‘, with some increasing production by up to 14% in order to to meet the growing market demand and to serve existing customers.
The research also covered geographical trends, the importance of sustainability and the prevalence of social media influences.
