The Business Research Company’s Wedding Service Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Wedding Service Global Market Report 2023 evaluates wedding service market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global wedding service market, a substantial sector within the events and hospitality industry, is poised for significant expansion. Projections suggest that the market will experience notable growth, progressing from a valuation of $175.46 billion in 2022 to a substantial $196.58 billion in 2023. This upward trajectory reflects a commendable Compound Annual Growth Rate (CAGR) of 12%, underscoring the enduring importance of wedding-related services on a global scale.
However, the global economic landscape remains beset by the lingering repercussions of the Russia-Ukraine conflict, which have cast a looming shadow over the prospects of a comprehensive recovery from the enduring effects of the COVID-19 pandemic, particularly in the short term. This geopolitical turmoil has set in motion a series of complex reactions, encompassing the imposition of economic sanctions on various nations, a sudden surge in commodity prices, and a network of supply chain disruptions.
The intricate interplay of these factors has engendered inflationary pressures, impacting the pricing dynamics of goods and services across a wide array of industries and markets worldwide. Nevertheless, the wedding service market is poised for sustained growth. Projections suggest that by 2027, it is set to achieve a substantial market size of approximately $295.47 billion, driven by a robust CAGR of 10.7%. These forecasts underscore the enduring significance of the wedding service market, which remains a focal point of interest for investors and industry observers, reflecting its ability to adapt and thrive in response to multifaceted global dynamics.
The escalating incidence of marriages is poised to act as a significant catalyst in propelling the growth of the wedding services market. Marriage, a legally and socially sanctioned union typically between a man and a woman, is a complex institution shaped by a confluence of laws, norms, conventions, beliefs, and societal attitudes. These elements collectively define the rights and obligations of the partners involved and confer legal status to their offspring. Wedding services play a pivotal role in nurturing and enhancing these matrimonial bonds. They do so by offering specialized expertise, alleviating the burden of stress, ensuring seamless coordination, and orchestrating a personalized and memorable wedding experience.
To exemplify this, a recent development in April 2023, as reported by the Centers for Disease Control and Prevention, a respected U.S.-based government agency, revealed a noteworthy increase in the total number of marriages within the United States. This figure rose from 1,676,911 in 2020 to an impressive 1,985,072 in 2021. This substantial upsurge is a testament to the growing significance of weddings in contemporary society.
The burgeoning prevalence of marriages and the evolving landscape of wedding-related preferences augur well for the continued growth of the wedding services market. As couples seek expert guidance and personalized experiences, the industry is poised to play an increasingly vital role in shaping the matrimonial journeys of couples, enriching not only the ceremonies themselves but also the profound commitment that they symbolize.
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The wedding service market segments in the report are:
1) By Type: Destination Wedding, Local Wedding
2) By Service Type: Videography And Photography, Catering Services, Decoration Services, Transport Services, Wedding Planning Services, Other Service Types
3) By Planning Type: Full Planning Services, Partial Planning Services, Day Of Coordination
4) By Booking Type: Online Booking, Offline Booking
Top Major Players
BBJ Linen
Generation Tux,
David Stark Design
Couture Events
Easton Events, Geller Events
The table of contents in TBRC’s wedding service market report includes:
1. Executive Summary
2. Wedding Service Market Characteristics
3. Wedding Service Market Trends And Strategies
4. Wedding Service Market – Macro Economic Scenario
5. Global Wedding Service Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)
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32. Global Wedding Service Market Competitive Benchmarking
33. Global Wedding Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Wedding Service Market
35. Wedding Service Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Wedding Service Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Wedding Service Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Wedding Service Market, Segmentation By Planning Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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Table 75: BBJ Linen Financial Performance
Table 76: Generation Tux Financial Performance
Table 77: David Stark Design Financial Performance
Table 78: Couture Events Financial Performance
Table 79: Easton Events Financial Performance
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