Wedding Services Market - Overview

The global wedding services market is expected to grow at a favorable rate from 2021 to 2031 (forecast period). In the American region, one out of every four couples chooses a destination wedding, which is projected to fuel the expansion of the worldwide wedding services market. The proportion of couples choosing a destination wedding is increasing year after year, presenting fresh opportunities in the years ahead.

The COVID-19 outbreak had a significant impact on the global wedding services market. However, the global wedding services market is expected to expand during the forecast period as operators accommodate both new and postponed weddings.

Expanding operations in future? To get the perfect launch ask for a custom report

Wedding Services Market - Competitive Landscape

Major players active in the global wedding services market are Augusta Cole Events, Fallon Carter, Colin Cowie, David Stark, Eventures Asia (Bali), Adventure Weddings, A Charming Fête, Nordic, Lindsay, JZ Events, Landman, and BAQAA Glamour Weddings & Events.

To raise their market share, achieve profitability, and stay competitive in the global wedding services market, businesses have employed a variety of development tactics.

Wedding Services Market - Trends and Opportunities

Destination weddings are becoming increasingly popular among millennials, with one out of every four couples choosing a destination wedding in the American region. Moreover, weddings in New York City are by far the most lavish destination weddings. Moreover, the top destinations for destination weddings in the United States are Nevada, Florida, and California. In contrast, the top destinations for destination weddings outside the United States are Hawaii, the Caribbean, and Mexico. Furthermore, 350,000 destination weddings occur each year, with Las Vegas leading the way with roughly 1 lakh or more weddings every year. Additionally, destination weddings are a popular choice for second marriages, accounting for one-third of all destination weddings. As a result, the number of couples choosing a destination wedding is increasing year after year, which is expected to propel the wedding services market growth.

The COVID-19 outbreak had a massive impact on the global wedding services market. After the disease was designated a pandemic, afflicted countries imposed a total lockdown, causing weddings to be postponed. Many couples opted for a virtual wedding, which reduced sales of catering clothing, decoration, footwear, and other wedding expenses. Wedding planning revenue was dropped since many couples postponed their weddings or married among close friends and family members.

Moreover, several wedding services were shut for months before reopening for a few weeks or months, based on the varying pandemic conditions in the region. As a result, COVID-19 had a significant impact during the lockdown period, which hampered market expansion. Moreover, 2.5 million weddings are planned in the United States; however, this figure has reduced to 1.2 million due to the pandemic, indicating a significant impact on the wedding sector. As a result, the post-COVID-19 scenario is expected to foresee expanding demand for wedding services, propelling the global market during the forecast period.

The local wedding segment is anticipated to witness growth in the worldwide wedding services market during the forecast period. The significance and emphasis placed on experiences first drive couples to choose a local wedding. Moreover, the destination wedding segment is expected to grow at a rapid pace owing to an increase in the trend toward destination weddings among young couples.

Request a sample to get extensive insights into the Wedding Services Market

Wedding Services Market - Regional Landscape

The wedding services market in Asia Pacific is anticipated to expand during the forecast period. The regional market is projected to experience significant growth since wedding services marketplaces in Asia Pacific, particularly in Southeast Asia, are synonymous with extravagant, exorbitant multiple-day gatherings that attract a large crowd.

The wedding services market in North America is projected to grow during the projection period. The United States is expected to contribute significantly to the regional market due to the increasing demand for destination weddings.

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Wedding Services Market