Global Wedding Services Market Size To Worth USD 565 Million By 2033 | CAGR of 12.32%
Category: Consumer GoodsGlobal Wedding Services Market Size To Worth USD 565 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Wedding Services Market Size is to Grow from USD 176.8 Million in 2023 to USD 565 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 12.32% during the projected period.
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Browse key industry insights spread across 229 pages with 120 Market data tables and figures & charts from the report on the "Global Wedding Services Market Size, Share, and COVID-19 Impact Analysis, By Location (Local Wedding and Destination Wedding), By Service Type (Catering Services, Decoration Services, Transport Services), By Booking Type (Offline Booking and Online Booking), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/wedding-services-market
Wedding services are wedding-related services that are outsourced to a wedding planner instead of planning and managing it all individually. The wedding is planned according to the customer’s requirements, and the customer is charged based on the number of services. Wedding services include understanding the couple and their family’s needs, creating a budget, and scouting locations. It also includes designing the event's style and theme, selecting a venue, and hiring and managing vendors such as caterers, photographers, videographers, florists, etc. It often involves providing hairdressing. makeup, and transportation services on-demand. The growing population paired with a trend of personalized and fancy celebrations due to social media platforms, pushing couples and families to invest in professional wedding services providers. The market-driving factors include rising disposable incomes and urbanization, the trend of destination weddings, social media, online wedding planning platforms, etc. However, the major challenges that could hinder the growth of the global wedding services market include the high cost of wedding services, economic uncertainties, and inflation.
The local wedding segment is anticipated to hold the greatest share of the global wedding services market during the projected timeframe.
Based on location, the global wedding services market is divided into local weddings and destination weddings. Among these, the local wedding segment is anticipated to hold the greatest share of the global wedding services market during the projected timeframe. The growth of this segment is because local weddings are more affordable, accessible, and convenient for couples and families.
The catering services segment is anticipated to hold the greatest share of the global wedding services market during the projected timeframe.
Based on service type, the global wedding services market is divided into catering services, decoration services, and transport services. Among these, the local wedding segment is anticipated to hold the greatest share of the global wedding services market during the projected timeframe. The major share of this segment is because food and beverages play one of the most important roles, and are allotted a major part of the wedding budget.
The offline booking segment is anticipated to hold the greatest share of the global wedding services market during the projected timeframe.
Based on booking type, the global wedding services market is divided into offline booking and online booking. Among these, the offline booking segment is anticipated to hold the greatest share of the global wedding services market during the projected timeframe. This is because it is more convenient and reduces the risk of miscommunication, the intricate details involved in weddings require long discussions that are more effective in person. Offline booking also offers immediate and tangible details of venues, catering, and other services.
North America is expected to hold the largest share of the global wedding services market over the forecast period.
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North America is expected to hold the largest share of the global wedding services market over the predicted timeframe. The region’s market is driven by the growing disposable income, and strong economic conditions allowing for substantial spending on wedding services and extravagant events and parties. The region also boasts numerous popular wedding destinations including urban settings, countryside, and beachfront venues.
Asia Pacific is expected to grow at the fastest rate in the global wedding services market during the forecast period. The region’s market is driven by the region’s large and young population entering marriageable age, leading to a high demand for wedding services. The rising income levels easy credit options, and economic development in countries like India and China are leading to more lavish and grand wedding celebrations.
Major vendors in the Global Wedding Services Market include Augusta Cole Events, Event Essentials, Colin Cowie, Birds of a Feather Events, Adventure Weddings, JZ Events, Matrimony.com, Easton Events, Dallas Oasis, Shaadi.com, Bridal Bliss Inc, Rocky Mountain Bride, Bharat Matrimony, Fallon Carter Events, Aisle & Co., Revel Wedding Co., Lindsay Landman Events Nordic, Eventures Asia, and Others.
Recent Developments
- In February 2023, The Knot Worldwide group, a global leader in the wedding planning industry, announced the acquisition of Zankyou, a global wedding marketplace company based in Madrid, Spain.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Wedding Services Market based on the below-mentioned segments:
Global Wedding Services Market, By Location
- Local Wedding
- Destination Wedding
Global Wedding Services Market, By Service Type
- Catering Services
- Decoration Services
- Transport Services
Global Wedding Services Market, By Booking Type
- Offline Booking
- Online Booking
Global Wedding Services Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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