Global Wedding Planning Market Assessment, By Wedding Type [Destination Weddings, Local Weddings], By Budget [Luxury Weddings, Mid-Range Weddings, Budget Weddings], By Region, Opportunities and Forecast, 2017-2031F

Global wedding planning market was valued at USD 190.28 billion in 2023, expected to reach USD 399.94 billion in 2031, with a CAGR of 9.73% for the forecast period between 2024 and 2031. Various economic, social, and technological factors have significantly increased the global market for wedding planning during the last few years. Couples are becoming more demanding when it comes to personalized and memorable weddings, hence increasing the demand for professional wedding planning services. This is particularly true in emerging economies where rising disposable incomes allow couples to spend more money on their weddings, often going for luxurious options and comprehensive planning services. This trend has been further fueled by social networking platforms and the role of celebrity weddings, which has led people to desire similar lavish and distinct ceremonies.

There are different types of services provided by the market players, including local and destination weddings. Every segment addresses the specific requirements of people, thus providing an all-inclusive method of organizing weddings. Furthermore, the increasing tendency towards choosing destination weddings has led to geographical expansion in the industry. For instance, places such as the Caribbean islands, European countries, or the Southeast Asian regions have increased in demand as significant wedding destinations.

Furthermore, the market serves a wide range of customer demographics, including millennials and older generations with unique tastes and expectations. According to Zola, Inc., the average wedding expenditure in the United States in 2024 is more than USD 30,000, with 89% of couples starting the planning for the wedding even before getting engaged.

Additionally, the market is influenced by sustainability trends where environmentally-friendly wedding choices are becoming popular.

Growing Awareness of Professional Services to Propel Market Growth

A significant booster of the global wedding planning market is growing awareness of professional wedding planning services. It includes wedding planning complications and time utilization, hence preferring to plan with experts to ensure a smooth and memorable event. The rising awareness is due to widespread media coverage, social media influence, and word of mouth recommendations.

The advantages of employing expert planners are best exhibited on wedding-themed television programs, blogs, and web-based platforms as they are trained to tackle financial resources, work with multiple vendors, and attend the overall arrangements. As social media platforms showcase and allow couples to share their good experiences with planners through beautiful weddings, it encourage others to seek similar services.

Moreover, many wedding services that can fit into different budgets and tastes are increasingly accessible. Thus, with more couples appreciating the worth of hiring an expert and a continued demand for these services has been witnessed contributing to growth in the wedding planning market. Capitalizing on the trend, in September 2023, Australia-based, Easy Weddings Pty Ltd. introduced the world’s first e-commerce platform and wedding packages for the wedding industry. The launch is a free application designed to help engaged couples easily organize their wedding by streamlining the entire planning process and cutting expenses.

Technological Advancements in the Industry to Fuel Market Growth

The global wedding planning market has undergone major changes in recent years due to technological innovations that improved the experience of both couples and planners alike. Various facets of wedding organization have become much easier with digital tools and platforms, making them effective and reachable. For instance, mobile applications for organizing weddings offer everything under one roof through assistance tools for helping in listing invitees, ordering from various suppliers, sending digital invites, and others.

A couple can take their virtual tours of potential venues and see decorations with layouts before the final decisions are made due to the development of virtual reality (VR) and augmented reality (AR) in this market. This technology saves users from wasting time and other resources, especially when it predominantly comes to destination weddings, where visiting can burn a hole in the pockets of potential customers.

Instagram and Pinterest are among the most popular social media platforms for weddings. There are abundant inspirations that can be shared online by couples, planners, and vendors. Moreover, it is possible to involve other people who are unable to attend the ceremony via streaming, thus making it more inclusive.

In January 2023, David’s Bridal launched the most sophisticated all-in-one planning platform and vendor marketplace in the industry, Pearl by David's. Using the Pearl app, brides can easily plan their wedding and connect with thousands of local suppliers across the United States. It makes the process simpler to plan, coordinate, and enjoy a wedding by capturing all of the essential components at one place. Also, there is no joining fee for the vendors, with paid expanded offerings.

Destination Weddings are Gaining Momentum

Destination weddings around the world are booming and thus have become one of the biggest trends in the field of wedding planning. More couples are opting for scenic and remote places to exchange their wedding vows, looking for distinctive and unforgettable moments far from conventional hometown rituals. Additionally, it costs reasonable to hold a big event, combining both the marriage ceremony with a honeymoon than holding them separately.

The trend for original Instagram-worthy background further fuels the popularity of destination weddings. This is why many couples choose the Caribbean, Europe, and Southeast Asia as their preferred destinations for weddings. These places are characterized by beautiful landscapes, good weather, and luxurious hotels making them suitable for weddings and extended celebrations. In fact, in January 2024, together with renowned Japanese wedding expert, Four Seasons Resort Maldives at Landaagiraavaru launched a new wedding salon.

Destination wedding plan services are booming nowadays, as they provide well-organized packages comprising of venue search, travel planning, accommodation, and local vendor management. They relieve the couple and their visitors from various issues of organizing weddings from afar while ensuring that everything runs smoothly.

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North America to Dominate Market Share

North America is a leading market when it comes to global wedding planning market, which is largely attributed to higher levels of disposable income, strong cultural focus on extravagant nuptials and well-established practices regarding hiring professional organizers. In America and Canada, marriages are important social occasions that are often associated with huge sums spent on opulent and customized services. A Canadian wedding generally involves a budget of around USD 30,000.

Furthermore, advanced technology is a key player in North America’s supremacy. Couples and coordinators rely on digital resources for budgeting, guest list management, and vendor organization that improves the appropriateness and effectiveness of planning. An increasing number of couples seeking picture-perfect venues for weddings has propelled the region’s market growth.

Moreover, the region enjoys an established economy that offers a plethora of amenities and a variety of budgetary options. North America wedding planning market is dominating globally as it has diverse players, offering varied price ranges from extravagant planners to low-budget service providers.

Considering the growing demand for wedding planners, in September 2023, US-based Together & Company declared the reopening of reservations for the New Urban Garden Patio Space and The High Line Car House venue. The company renovated the venue on its 10^th anniversary and started taking bookings for dates starting from 2023 till June 2024.

Future Market Scenario (2024 – 2031F)

1. There will be more advanced digital planning tools with AI-powered personalization, VR site visits, and AR-based decorations previewing in them. It will enable couples to have a hands-on and engaging way of planning events.

2. Unique themes and unconventional venues will become popular among couples for planning their events to make them memorable and distinctive.

3. Affordable luxury services will witness notable growth and will be characterized by high-quality experiences at lower price points.

Report Scope

“Wedding Planning Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global wedding planning market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2023
Historical Period	2017-2022
Forecast Period	2024-2031
Projected Growth Rate	CAGR of 9.73% between 2024 and 2031
Revenue Forecast in 2031	USD 399.94 billion
Segments Covered	Wedding Type, Budget
Regions Covered	North America, Europe, South America, Asia-Pacific, Middle East and Africa
Key Companies Profile	Alison Events, KT Merry, Inc., LISA VORCE CO, Easton Events, Zola, Inc., Grit and Grace Inc, The Knot Worldwide, Chic Weddings and Events, Classy Kay Events, Genius Eventi S.r.l.
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, global wedding planning market has been segmented into the following categories:

• By Wedding Type
• Destination Weddings
• Local Weddings
• By Budget
• Luxury Weddings
• Mid-Range Weddings
• Budget Weddings
• By Region
• North America
• Europe
• South America
• Asia-Pacific
• Middle East and Africa

Key Players Landscape and Outlook

Global wedding planning market is packed with key players involving full-service agencies, specialized vendors, and digital platforms. There are prominent names who dominate the market with comprehensive planning tools, vendor directories, and online resources to satisfy all wedding needs. Also, digital platforms provide innovative planning and guest management solutions through technological services in response to increasing customer demand.

The key players have a favorable forecast, as rising consumer desires for uniqueness, technological inclusion, and ecological responsibility fuel expansion. Players are expected to enhance their digital competencies, provide environmentally friendly alternatives, and diversify offerings to all clients. Influential partnerships and growing services in untapped regions will further help in creating a strategy.

In July 2024, The Knot Worldwide, one of the key players in the global wedding planning market, introduced new advanced product enhancements for its two brands, WeddingWire and The Knot, aimed at improving the wedding professionals' experience. To further optimize lead quality, enhance storefront listings, and offer deeper insights to book more engaged couples, The Knot Worldwide introduced these enhancements to its platform's vendors in the United States.

Key Players Operating in the Global Wedding Planning Market are:

• Alison Events
• KT Merry, Inc.
• LISA VORCE CO
• Easton Events
• Zola, Inc.
• Grit and Grace Inc
• The Knot Worldwide
• Chic Weddings and Events
• Classy Kay Events
• Genius Eventi S.r.l.

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• How are the markets divided into different product/service segments and the market size and growth of each segment?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?

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