The Global Party Balloon Market size was worth US$ 1.54 Billion in 2021, and it is estimated to reach a valuation of US$ 2.52 Billion by the end of 2031, expanding at an annual rate of about 5.0% between 2021 and 2031.
The balloon is nothing but a flexible bag. This flexible bag can be inflated with air or gas. That gas can be anything such as oxygen, hydrogen, helium, nitrous oxide and air. In the market, various types are balloons are available. They can be the most effective giveaways you can get. Balloons are loved by kids and adults as well. They are eye-catching, and you can imprint your logo on it since they have a large imprint area, which is visible from a long distance.
Balloons can be used for various events such as parties, advertising and promotions etc.
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There are mainly three types of the balloon:
Latex Balloon
It is the most common type of balloon. They are made from recyclable latex. You can easily customize it by printing your logo and artwork design on it. Latex balloons inflate to an oval shape. Most commonly, the available size range from 9 inches to 13 inches.
Basically, they take helium well. They can last anywhere from 10 hours to 14 hours.
Mylar/Foil Balloons
Mylar balloons are more costly than latex balloons. Being expensive, they have the reason why. The reason being expensive is they have a higher quality, metallic look and feel and broader imprint area and much longer float times. A Floating Mylar balloon grabs attention since they are bright and shiny.
They can be personalized in four different shapes and sizes. Such as Star, round, heart and square. Most commonly, the available size range from 18 inches to 22 inches. They come in every colour you can imagine. These balloons are bets for promotions, party and theme party etc.
Cloudbuster Balloons
These balloons are also called as chloroprene balloons. High-quality latex is used to make them which protect them from harmful ultraviolet rays. These balloons are up to 10 times stronger than latex balloons. Their floating time depend upon the size, and sometimes their floating time can last almost 3 weeks. Most commonly, the available size range from 4 feet to 8 feet.
These balloons inflate to the perfect sphere, and they are used only outdoors. They cannot be customized. Since they are high flying and bright in colour, so they become the perfect marker for your business location and event from a long distance.
The Global Party Balloon Market Overview: Drivers, Opportunity and Restraints
Festivals are an important aspect of our society, and balloons are utilized extensively for decoration. In addition, balloons are an essential element of decoration within Western (Europe and North America) society. Balloons for parties are inexpensive and can be used to decorate your events in ways that are unique to the celebration. Weddings, birthdays, and anniversaries are all common events around the world, which are the main drivers of the global market for party balloons. The tradition of celebrating events like these in both advanced nations is driving the demand for party balloons.
Demand for eco-friendly balloons is growing worldwide. Consequently, manufacturers are working on the development of safe latex balloons that do not have toxic chemical treatment. Since 100% latex balloons are considered environment friendly and bio-degradable, many manufacturers have already started manufacturing 100% latex balloons. This is expected to increase the demand for balloons for parties and is expected to provide huge opportunities for manufacturers and distributors in the coming time.
The COVID-19 epidemic has resulted in the restriction of social gatherings in a majority of countries and is likely to significantly reduce the need for balloons in the market. The market is expected to slow down in 2020 and for a few months in 2021. Many environmentalists view balloons to be a cause of pollution to the environment. Furthermore, the balloons that are floating in the water, animals tend to mistake them for prey like jellyfish and consume them. This could also be a factor to limit the development of the market for party balloons over the forecast time.
The Key Market Segmentation of the Global Balloon Market:
This Research Report Categorized The Global Balloon Market Based on Product, Types, Application, Size, Distribution Channel and Geographical Landscape.
Balloon Market Segmentation By Product:
Latex Balloon
Foil Balloon
Balloon Market Segmentation By Size:
Less than 15”
Between 15” and 30”
More than 30”
Balloon Market Segmentation By Types:
Printed
Non-printed
Balloon Market Segmentation By Application:
Commercial
Residential
Others
Balloon Market Segmentation By Distribution Channels:
Online
Offline
Supermarkets
Hypermarkets
Retail Shops
Balloon Market Segmentation By Geographical Landscape:
North America
Europe
Asia Pacific
South America
Middle East and Africa
Major Key Players in the Global Balloon Market Are:
- Latex Occidental
- Xingcheng
- Rubek Balloons
- BELBAL
- Maple City Rubber
- Amscan
- BELBAL
- Sempertex
- CTI Industries
- Colour Way
- Amscan
- Pioneer Balloon
- Pioneer Balloon
- CTI Industries
- Gemar Balloons
- Xingcheng
- Gemar Balloons
The Covid-19 Impact Analysis:
Many industries across the globe have suffered a negative impact in the past few months. It is possible to attribute this to the significant disruptions that have occurred in their supply chain and manufacturing operations due to various lockdowns, along with other restrictions enforced by the governing authorities around the world.
This is also true for the world Balloon market. In addition, demand from consumers has also declined since people are more focused on eliminating unnecessary costs from their budgets, as the overall social and economic conditions of the vast majority of people have been greatly affected by this epidemic. The above-mentioned elements are anticipated to impact the revenue growth of the global Balloon market in the anticipated time frame.
But, once the various governing authorities get ready to lift the lockdowns they enforced and open the market to new opportunities, the global Balloon market is likely to rebound accordingly.
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