Allied Market Research

PORTLAND, OREGON, UNITED STATES, June 22, 2023/EINPresswire.com/ -- The wedding services market was valued at $160.5 billion in 2020 and is estimated to reach $414.2 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030. The wedding services industry is composed of a numerous sub-group service institutions that work collectively to turn a wedding event planning in action. These wedding industry sub-groups comprise bakeries for the wedding cake, wedding invitations, jewelers for wedding , event photography and/or videography, event transportation, wedding planning services, wedding locations, formal wedding attire, banquet/reception locations, and catering.

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The wedding market is diverse worldwide, and there are numerous traditions and types that are involved in ceremonies between countries, ethnic groups, and cultures. These traditions are grounded on both the personal preferences of the parties involved and region. In addition, majority of wedding formalities involve the couple exchanging and reciting vows. In addition, the demand for wedding services depends upon the personal income of the couples and their families as well as customer preferences for their wedding celebration.

Online sales channel is now emerging as the one of the prominent sales channels in the retail sector. Many brands have now transitioned toward omni channel market approach. The online sales of wedding supplies has increased amidst the COVID-19 pandemic. The shift of consumer behavior toward buying their requirement online is expected to continue in future, owing to ease of selecting, purchasing, and getting doorstep delivery, which attracts consumers toward online channels. Another advantage of online channels is the near elimination of geographic boundaries. This convenience and increase in available options to choose from are attracting customers toward online channels, which is expected to serve as a lucrative opportunity for market expansion.

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The report is analyzed by booking type, which includes online booking and offline booking. The report further segments the market on the basis of planning type such as full planning service, partial planning services and day of coordination. Based on service type, the market is further classified into videography/photography services, catering services, decoration services, transport services, wedding planning services and others and On the basis of wedding type the market is bifurcated into destination wedding and local wedding. Furthermore, it includes revenue generated from the wedding services across North America, Europe, Asia-Pacific and LAMEA.

Some of the major players profiled for in the wedding services market analysis include Augusta Cole Events, Colin Cowie, David Stark, Fallon Carter, A Charming Fête, Nordic, Adventure Weddings, JZ Events, Lindsay, Landman, Eventures Asia (Bali), and BAQAA Glamour Weddings & Events.

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Key Benefits For Stakeholders

This report provides an in-depth analysis of the global wedding services market to identify the potential investment pockets.

It outlines the current trends and future scenarios to determine the overall market potential and gain a stronger market foothold.

It discusses the key drivers, restraints, and opportunities and their detailed impact analysis.

Quantitative analysis of the market from 2020 to 2030 is highlighted to recognize the financial competency of the market.

The Porter’s five forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

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