Overview and Scope
Party supply rental refers to the business of renting out various items and equipment needed for parties, events, celebrations, or gatherings. These rental businesses typically offer a wide range of products and party essentials for a specific duration to use at events and provide convenience to customers.
Sizing and Forecast
The party supply rental market size has grown rapidly in recent years. It will grow from $11.23 billion in 2023 to $12.84 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to increased social events, economic growth, rising disposable income, urbanization, and growing population.
The party supply rental market size is expected to see rapid growth in the next few years. It will grow to $21.99 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to increasing advancements in online booking platforms, growing preferences for themed parties, increasing corporate events, and rising demand for premium services. Major trends in the forecast period include sustainability focus, customization demand, integration of augmented reality, enhanced customer experience, and expansion of rental inventory.
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Segmentation & Regional Insights
The party supply rental market covered in this report is segmented –
1) By Types: Tableware And Linens, Decorations And Decor, Furniture And Seating, Tents And Canopies, Audio And Visual Equipment, Party Games And Entertainment, Catering Equipment, Themed Party Supplies, Dinnerware And Glassware, Outdoor Cooking And Grilling Equipment
2) By Events Or Occasions: Weddings, Birthdays, Corporate Events, Seasonal Events, Graduations, Outdoor Events, Baby Showers, Anniversaries, Festivals And Fairs, Other Events Or Ocassions
3) By Customer: Individual Consumers, Event Planners, Corporate Clients, Nonprofit Organizations, Government And Municipalities, Caterers And Catering Services
North America was the largest region in the party supply rental market in 2023. The regions covered in the party supply rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising budgets for event expenses are expected to propel the growth of the party supply rental market. Rising budgets for event expenses are driven by the growing demand for immersive experiences, increased competition, and the need to meet higher attendee expectations. The event spending funds are utilized for party supplies to enhance attendee experiences with diverse and engaging decorations and accessories. For instance, in September 2023, according to a survey of 500 professionals published by American Express Global Business Travel, a US-based travel management company, 67% of companies predict an increase in overall event spending in 2024, up from 65% in 2023. Additionally, 10% of these companies anticipate an increase in expenditure of 11% or more. Furthermore, 70% of respondents expect attendee numbers to return to 2019 levels by 2024, compared to 67% in 2023. Therefore, rising budgets for event expenses will drive growth in the party supply rental market.
Key Industry Players
Major companies operating in the party supply rental market are CORT Party Rental Corporation, Chase Canopy Company Inc., Marquee Event Group LLC, Bright Event Rentals LLC, Quest Events LLC, Hartmann Studios Inc, Stamford Tent & Event Services Inc, Hall’s Rental Service Inc, All Occasions Party Rental Inc, Party Reflections Inc, Stuart Event Rentals Inc, Event Source Inc, Avalon Event Rentals Inc, Baker Party Rentals, Classic Party Rentals LLC, Elite Party Rentals Inc, Abbey Tent & Party Rentals Inc, Diamond Event and Tent LLC, Gervais Party and Tent Rentals Inc, Prime Event Group Inc, Signature Party Rentals LLC, The Fun Ones Inc, Total Events LLC, US Event Structures Inc, Xtreme Fun Rentals Inc, Platinum Event Rentals LLC, Ventura Rental Center Inc.
The party supply rental market report table of contents includes:
1. Executive Summary
2. Party Supply Rental Market Characteristics
3. Party Supply Rental Market Trends And Strategies
4. Party Supply Rental Market – Macro Economic Scenario
5. Global Party Supply Rental Market Size and Growth
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32. Global Party Supply Rental Market Competitive Benchmarking
33. Global Party Supply Rental Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Party Supply Rental Market
35. Party Supply Rental Market Future Outlook and Potential Analysis
36. Appendix
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