Wedding Services Market Size, Share, Industry Analysis, Growth, 2032

Wedding Services Industry Prospective:

The global wedding services market size was evaluated at $179.23 billion in 2023 and is slated to hit $647.39 billion by the end of 2032 with a CAGR of nearly 15.34% between 2024 and 2032.  

Request Free Sample

Wedding Services Market: Overview

Wedding services comprise planning of wedding events, jewelry for wedding rings, and event photography. In addition to this, it also includes purchasing wedding cakes from bakeries. It helps in the arrangement of event transport, wedding plans, videography, formal wedding clothes, catering, and banquet & reception settings.

Key Insights

• As per the analysis shared by our research analyst, the global wedding services market is projected to expand annually at the annual growth rate of around 15.34% over the forecast timespan (2024-2032)
• In terms of revenue, the global wedding services market size was evaluated at nearly $179.23 billion in 2023 and is expected to reach $647.39 billion by 2032.
• The global wedding services market is anticipated to grow rapidly over the forecast timeline owing to a surge in the need for cost-effective weddings and the popularity of destination weddings.
• In terms of type, the destination wedding segment is slated to register the highest CAGR over the forecast period.
• Based on booking type, the online booking segment is predicted to dominate the segmental space over the forecast period.
• Region-wise, the North American wedding services industry is projected to register the fastest CAGR during the projected timespan.

Request Free Sample

Wedding Services Market: Growth Factors

A prominent surge in the popularity of inexpensive wedding ceremonies to drive the growth of the global market

The surge in the need for cost-effective weddings and the popularity of destination weddings will expedite the growth of the global wedding services market. Increment in the rate of marriages is likely to prop up the expansion of the market globally.

Additionally, wedding services assist in improving the marriage experience by offering high expertise, reducing stress, and creating memorable wedding activities. A rise in the outsourcing of wedding activities to vendors will boost the global market trends.

Wedding Services Market: Restraints

Rising costs of wedding solutions to hinder the global industry surge over 2024-2032

Huge charges for wedding services can put brakes on the wedding services industry globally.

Wedding Services Market: Opportunities

Launching of new kind of wedding services to open new avenues of growth for the global market

Innovations in wedding services help big players in highlighting on exploring unique solutions, thereby increasing their presence in the global wedding services market. Furthermore, it offers brides as well as bridegrooms a complete tool for wedding planning along with connecting with regional suppliers in countries such as the U.S. All these aforementioned aspects will generate new facets of growth for the global market.

Wedding Services Market: Challenges

Spread of pandemic across the globe can hamper the global industry surge by 2032

The outbreak of a pandemic such as COVID-19 can pose a huge threat to the expansion of the global wedding services industry. Supply chain disruptions can further disrupt the growth of the global industry in the years to come.

Wedding Services Market: Segmentation

The global wedding services market is divided into type, booking type, and region.                                         

In type terms, the wedding services market across the globe is segregated into local wedding and destination wedding segments. Furthermore, the destination wedding segment, which accumulated approximately 57% of the global market revenue in 2023, is expected to record the fastest rate of growth in the forecast timeline. The expansion of the segment in the next eight years can be subject to a rise in the preference for destination weddings among millennial couples in both emerging economies and developed countries.

On the basis of booking type, the global wedding services industry is segmented into offline booking and online booking segments. Additionally, the online booking segment, which acquired the largest share of the global industry in 2023, is set to lead the segmental landscape in the forthcoming years. The segmental expansion from 2024 to 2032 can be a result of a growing trend among people toward online booking of wedding ceremonies and wedding halls across the globe.  

Wedding Services Market: Report Scope

Wedding Services Market: Regional Insights

Asia-Pacific is predicted to maintain the leading position in the global wedding services market in the ensuing years

Asia-Pacific, which accounted for nearly two-thirds of the global wedding services market proceeds in 2023, is expected to dominate the global market in the coming few years. Moreover, the regional market expansion in the next couple of years can be due to a rise in the number of wedding ceremonies in countries such as Indonesia, South Korea, Thailand, Cambodia, China, Malaysia, Taiwan, India, and Japan. Apart from this, the presence of major service providers in the countries will further proliferate the expansion of the market in the region.

North American wedding services industry is expected to register the fastest CAGR in the forecast timeline. The elevation of the industry in North America over the coming eight years can be attributed to the presence of key producers of wedding fabrics in countries such as the U.S. For instance, David’s Bridal, a bridal fabric manufacturer based in the U.S., launched “Pearl” in the first quarter of 2023. Reportedly, Pearl is an all-in-one management tool that will bring a paradigm shift in wedding services.

Key Developments

• In February 2023, Knot Inc., a key U.S.-based wedding coordinator, acquired Zankyou Ventures SL. Such strategic moves will steer the expansion of the wedding services business in the U.S. and across North America. 

Wedding Services Market: Competitive Space

The global wedding services market profiles key players such as:

• Lindsay Landman
• David Stark
• Colin Cowie
• A Charming Fête
• JZ Events
• BAQAA Glamour Weddings and Events
• Nordic Adventure Weddings
• Augusta Cole Events
• Eventures Asia (Bali)
• Fallon Carter.

The global wedding services market is segmented as follows:

By Type

• Local Wedding
• Destination Wedding

By Booking Type

• Offline Booking
• Online Booking

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa