Festive Articles Market

The global festive articles market is expected to show growth in both volume and value terms over the next eight years. The article provides insights into consumption trends, production statistics, and import and export data for festive articles worldwide. The United States, China, and India are identified as key players in the market, with significant growth rates in consumption, production, and exports. Price trends for imports and exports are also discussed, highlighting fluctuations and growth patterns in the market.

Market Forecast

Driven by increasing demand for festive or carnival articles worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 832K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market value to $7.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Festive Or Carnival Articles

For the sixth consecutive year, the global market recorded growth in consumption of festive or carnival articles, which increased by 8% to 712K tons in 2022. Over the period under review, consumption enjoyed a prominent expansion. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

The global festive articles market size was estimated at $5.6B in 2022, surging by 4.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +70.0% against 2016 indices. Over the period under review, the global market hit record highs in 2022 and is likely to continue growth in the near future.

Consumption By Country

The United States (341K tons) remains the largest festive articles consuming country worldwide, accounting for 48% of total volume. Moreover, festive articles consumption in the United States exceeded the figures recorded by the second-largest consumer, India (44K tons), eightfold. The third position in this ranking was held by Belgium (22K tons), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume in the United States stood at +17.0%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+8.5% per year) and Belgium (+30.8% per year).

In value terms, the United States ($2.4B) led the market, alone. The second position in the ranking was taken by India ($366M). It was followed by Pakistan.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +12.9%. The remaining consuming countries recorded the following average annual rates of market growth: India (+10.4% per year) and Pakistan (+8.3% per year).

The countries with the highest levels of festive articles per capita consumption in 2022 were Belgium (1,914 kg per 1000 persons), the United States (1,017 kg per 1000 persons) and Canada (282 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +30.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Festive Or Carnival Articles

Global festive articles production reduced to 507K tons in 2022, dropping by -3.6% against 2021. Over the period under review, production, however, posted strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 34%. Over the period under review, global production reached the maximum volume at 525K tons in 2021, and then declined in the following year.

In value terms, festive articles production dropped to $4.9B in 2022 estimated in export price. In general, production, however, saw a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 25%. Over the period under review, global production reached the peak level at $5.3B in 2021, and then contracted in the following year.

Production By Country

China (327K tons) constituted the country with the largest volume of festive articles production, comprising approx. 65% of total volume. Moreover, festive articles production in China exceeded the figures recorded by the second-largest producer, India (27K tons), more than tenfold. Pakistan (21K tons) ranked third in terms of total production with a 4.1% share.

In China, festive articles production expanded at an average annual rate of +11.8% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+4.5% per year) and Pakistan (+7.1% per year).

Imports

World Imports of Festive Or Carnival Articles

Global festive articles imports surged to 602K tons in 2022, growing by 27% compared with the year before. Overall, imports recorded a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 29%. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, festive articles imports skyrocketed to $3.6B in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 28% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports By Country

The United States dominates imports structure, recording 343K tons, which was near 57% of total imports in 2022. Belgium (25K tons), India (20K tons), the UK (19K tons), the Netherlands (15K tons), Canada (12K tons), Germany (12K tons), France (11K tons) and Mexico (9.6K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to festive articles imports into the United States stood at +15.4%. At the same time, Belgium (+21.1%), India (+19.9%), Mexico (+8.4%), the Netherlands (+8.1%), Germany (+4.5%) and France (+4.4%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the world, with a CAGR of +21.1% from 2012-2022. The UK and Canada experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United States, Belgium and India increased by +22, +2.6 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.9B) constitutes the largest market for imported festive or carnival articles worldwide, comprising 51% of global imports. The second position in the ranking was taken by the UK ($188M), with a 5.2% share of global imports. It was followed by Canada, with a 4.2% share.

In the United States, festive articles imports expanded at an average annual rate of +7.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the UK (+3.4% per year) and Canada (+1.0% per year).

Import Prices By Country

In 2022, the average festive articles import price amounted to $6,056 per ton, declining by -2.1% against the previous year. In general, the import price showed a noticeable curtailment. The pace of growth appeared the most rapid in 2018 an increase of 4%. Global import price peaked at $8,516 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($12,480 per ton), while India ($878 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+3.3%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Festive Or Carnival Articles

Global festive articles exports surged to 397K tons in 2022, jumping by 16% against the previous year. Overall, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, festive articles exports soared to $5B in 2022. Over the period under review, exports posted buoyant growth. The growth pace was the most rapid in 2021 with an increase of 54%. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports By Country

China dominates exports structure, reaching 326K tons, which was approx. 82% of total exports in 2022. The Netherlands (16K tons) and Mexico (6.2K tons) held a little share of total exports.

China was also the fastest-growing in terms of the festive or carnival articles exports, with a CAGR of +18.3% from 2012 to 2022. At the same time, the Netherlands (+17.4%) displayed positive paces of growth. By contrast, Mexico (-6.2%) illustrated a downward trend over the same period. China (+40 p.p.) and the Netherlands (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while Mexico saw its share reduced by -6.6% from 2012 to 2022, respectively.

In value terms, China ($4.1B) remains the largest festive articles supplier worldwide, comprising 83% of global exports. The second position in the ranking was taken by the Netherlands ($106M), with a 2.1% share of global exports.

In China, festive articles exports expanded at an average annual rate of +29.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+8.8% per year) and Mexico (-2.8% per year).

Export Prices By Country

In 2022, the average festive articles export price amounted to $12,496 per ton, surging by 2.8% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, festive articles export price increased by +38.3% against 2016 indices. The pace of growth appeared the most rapid in 2020 an increase of 20% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($12,683 per ton), while Mexico ($4,656 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.5%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform