Party Supply Rental in Australia - Industry Market Research Report

Party Supply Rental in Australia - Industry Market Research Report

Party Supply Rental in Australia

Party supply rental firms rent out a range of party-related goods to households and businesses, often on a short-term basis. That's why trends downstream have a pivotal influence on the industry. The COVID-19 outbreak in mid-March 2020 and resulting lockdowns and restrictions on social gatherings led to the cancellation or delay of many parties, functions, events and weddings over 2019-20 and 2020-21. This trend diminished demand for party supply rental firms, which was detrimental to their cashflows. Volatile consumer sentiment and business confidence have also adversely affected spending on party supplies by households and commercial clients, even when restrictions were lifted. High inflation and rising interest rates in the pandemic's aftermath have contributed to the industry's somewhat sluggish recovery. Industry revenue is expected to fall at an annualised 2.4% the over the five years through 2023-24 to $498.8 million. However, this includes an anticipated jump of 6.4% in 2023-24. Profit margins are expected to dip to 11.0% of revenue, owing to difficult trading circumstances and rising price-based competition.

Industry companies rent out tables, chairs, kitchenware, linen, centrepieces, stages, marquees, canopies, lighting and other items for small functions and events. The industry excludes products and services for major public and commercial events, including temporary fencing, portable toilets, temporary grandstand seating, fresh flowers, catering services and security services.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."