India Event And Exhibition Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

India Event And Exhibition Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The India Event and Exhibition Market size is expected to grow from USD 4.75 billion in 2023 to USD 8.71 billion by 2028, at a CAGR of 12.90% during the forecast period (2023-2028).

Key Highlights

• 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 1.75 trillion 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.

India Event And Exhibition Market Trends

Growing Adoption of Geo-cloning for Exhibition Organizers is Expected to Drive the Market

• The geo-cloning concept is not new and has been tried and tested for decades now. It has gained traction recently due to increased connectivity and globalization. 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 the 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 and 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, technological advancements in various industries 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.
• The government support for Indian event organizers involved in geo-cloning and large international conventions in the country is positively impacting growth. This involves guaranteed footfall from customers due to the brand reputation and involvement of international solutions and service providers.

Consumer Goods and Retail Segment is Expected to Hold a Major Market Share

• Horizontal marketplaces are consumer exhibits. They usually feature various products from 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 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 directly contact 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.
• The market for retail and consumer goods is undergoing dynamic change. Challenges for retail and consumer product (R&C) companies are many in today's business environment, as a confluence of market forces have created an extremely challenging climate.
• Indian retail has become one of the most dynamic and fast-moving industries with the entry of several new players. This accounts for more than 10% of the country's GDP. India's sizable middle class and largely untapped retail market have been major motivators for international retail giants looking to enter newer markets, accelerating the growth of Indian retail and creating new growth opportunities for India's event and exhibition market.
• According to IBEF, online shoppers in India are expected to reach 500 million by 2030. The event and exhibition market in India is experiencing exponential growth, with retail development in small towns, big cities, and metropolises. Healthy economic growth, changing demographics, increasing disposable income, urbanization and changing consumer tastes and preferences are some of the factors driving the growth of India's organized retail market.
• IFJAS, Indian Fashion Jewellery & Accessories Show 2023, will be held on June 26-28, 2023, at India Expo Centre, Greater Noida, India. The show is an internationally acknowledged annual sourcing platform showcasing traditional and contemporary fashion jewelry and accessories-to-apparel from different manufacturing hubs and regions of India. IFJAS stands true to its reputation as an exemplary international exhibition with a focus on product lines that many buyers would find only in India.

India Event And Exhibition Industry Overview

The market has a presence of various small and large-scale vendors, making it a highly fragmented market. With the country's unorganized event and organization sector being the same size as the market studied, 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 B2B and B2C events/exhibitions in the country.

• May 2023 - Indore Infoline announced the organization of Maharashtra Industrial Xpo (MahaindX) 2023 at CIDCO Exhibition Center, Navi Mumbai, Maharashtra, India. MahaindX is an initiative by the Chamber of Small Industries Association (COSIA) for MSMEs in Maharashtra. It is a B2B matchmaking event where MSMEs can showcase their products and services.
• February 2023 - The Ministry of Communications, GoI, announced to organize National Philatelic Exhibition 'Amritpex-2023'. The 5-day national exhibition 'Amritpex-2023' will be held at Hall No. 5 of Pragati Maidan Complex, New Delhi. The themes of the exhibition will be centered on Azadi Ka Amrit Mahotsav and New India, Nari Shakti, Yuva Shakti, Nature and Wildlife, and India's Culture and History. It will mark the celebrations of the diversity of the country and its growing Atma-Nirbharta in all sectors and rising statutes in the world.

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• The market estimate (ME) sheet in Excel format
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