India Event and Exhibition Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Event and Exhibition Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The India event & exhibition market (hereafter referred to as the market studied) was valued at USD 3,674.95 Million in 2022, and it is expected to reach USD 7,550.05 Million by 2027, registering a CAGR of 12.43% during the forecast period of 2022-2027.

• Exhibitions and events are some of the critical enablers and triggers of the economy. With India being one of the fastest-growing economies, the government initiatives to help enterprises in different industries are expected to improve the need for events and exhibitions in the country. According to Make in India, among the chosen 190 countries, India ranked at 63rd position in comfort of doing business rank 2020, which was 142 out of 190 in 2014, a significant improvement of 79 positions.
• India has a vast consumer market, and it offers an unparalleled opportunity for enterprises to invest and expand in the country. According to the India Brand Equity Foundation and Retailers Association of India, the retail market size across India will reach USD 1,750 billion by 2026.
• Exhibitions are among some of the powerful enablers of trade and economic growth globally. Various nations in Europe and Asia used exhibitions as business platforms to propel their regions' economic development and investments. In line with India's economic development, the exhibitions industry has seen rapid growth. Today, India is one of the prime exhibition destinations globally.
• Event planning goes hand in hand with the marketing efforts of the organizers. In order to do so, such event organizers charge a hefty amount from participants. Inefficient marketing may lead to lower footfall which leads to lower sales for vendors that signed up for the exhibition. Such scenarios are why organizers tend to have hefty entry fees to communicate appropriately about the exhibition.
• The COVID-19 pandemic had a harsh negative impact on various industries across the country. The event and exhibition industry was no stranger to this trend. With the lockdown announcement, the sphere of outdoor entertainment came to an absolute standstill. According to the Indian Exhibitions Industry Association (IEIA), India's exhibition sector lost an estimated INR 3,570 crore.

• The Geo-cloning concept is not something new, but it has been tried and tested for decades now. It is gaining traction in recent times due to the increase in connectivity and globalization. The Indian market is not new to the concept as various international events and exhibitions have been expanded to cover India as well in recent times. Geo-cloning is taking an event that works in one city or country and including it in another.
• For instance, Fastener Fair USA, which is from the United States, was replicated in India and took place in Bombay Exhibition Center (NESCO), Mumbai. In 2019, the event had 5,192 visitors and 199 exhibitors, and 58% of the visitors were company owners or directors. Such successful geo-cloning events are taking the country's industry by storm with the growing economic and active government policies.
• Geo-cloning has also become a go-to strategy for various major exhibition organizers looking to expand globally. It involves less of the risk of a brand-new launch and an existing brand reputation to use as a launchpad. Statement of intent geo-cloning has proven to be a valuable tactic.
• With the growing construction, industrial manufacturing, textiles & apparel, and consumer durables market in India, various international events and exhibitions are keen on entering the country to offer their products and services, and such exhibitions are the means of networking and expansion opportunities to tie up with local vendors and distributors.
• In addition to this, the technological advancements in various industries, which different Indian industries lack as they still use conventional processes, are offering a prime opportunity for international vendors, as such events offer significant opportunities to attend and gain knowledge and adopt advanced solutions as part of their operations.
• Further, the government support to Indian event organizers involved in geo-cloning and large international conventions in the country are positively impacting the growth. This involves guaranteed footfall from customers owing to the brand reputation and involvement of international solutions and service providers.

• Horizontal marketplaces are consumer exhibits. They usually feature a variety of products from a variety of industries that are on show for the general public. Consumer exhibitions are an excellent method to bring together like-minded merchants and customers in one place for an extended length of time. Many visitors like to remain and visit as many vendors as possible.
• Therefore, they are generally considered day-long events. Consumer exhibitions provide businesses with a once-in-a-lifetime opportunity to contact directly with buyers who already fall into their target demographics. This sales strategy frequently yields a greater conversion rate than traditional sales methods. India as a country realizes the value and reach of such exhibitions and events and, therefore, has prominent fairs, events, and exhibitions held annually.
• Since the outbreak of the epidemic, Tradeindia, India's premier B2B online marketplace, has successfully hosted a number of virtual expos for various industries. In the month of October 2021, it hosted a Grand Consumer Goods Expo. The country's faltering export business and consumer goods industry will get a new lease on life due to the high-profile digital trade show.
• Agriculture, Apparel & Fashion, Automobiles, Chemicals, Consumer Electronics, Electronics & Electrical Supplies, Food & Beverages, Furniture & Handicrafts, and other Industrial Segments all have intriguing prospects at Consumer Goods Expo 2021. The three-day event took place from 27 October to 29 October 2021. (10 AM to 9 PM). Professionals connected digitally to learn about the most recent industry changes as well as opportunities in all major industries.
• IITF or INDIA INTERNATIONAL TRADE FAIR 2021 is organized by India Trade Promotion Organization (ITPO). India International Trade Fair. IITF displays a wide range of products and services, including automobiles, textiles, garments, household and kitchen appliances, food, beverages, pharmaceuticals, chemicals, cosmetics, body care, and health care products, toys, etc. The fair was held on 17 November 2021 in Pragati Maidan, New Delhi.

The market is riddled with various small and large-scale vendors operating in a highly fragmented market. With the unorganized event and organization sector in the country being of the same size as the organized market studied in this report, the competitive rivalry among the organizers is moderately high. With the growing economic condition of the country and consumer markets, the need for globalization is pushing the demand for a significant number of B2-B and B2C events/exhibitions in the country.

• April 2022 - Percept ICE was credited with the development and management of the IP, Parcos Beauty Influencer Awards. The company conceptualized and executed the debut edition of the Parcos Beauty Influencer Awards in 2022, an annual intellectual property rewarding Influencers pan-India with a coveted place on the Parcos Panel, a shoot with ELLE magazine, among others.
• August 2021 - Percept Live announced the launch of “Freshers Fest,” an exclusively curated back-to-college freshers festival with an aim to welcome students to the new academic year. Over 150,000 fans from 150 colleges across 40 cities were expected to attend the launch event.

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