India Wedding Industry
will continue to grow at a considerable pace in the next few years owing to
rise in internet users, rising annual disposable income and changing mindset of
the unmarried population in the country. The market for wedding planning is
predicted to grow at a CAGR of 10.7% from 2016-2020. This industry is expected
to find a growing demand from the unmarried population in the future on account
of rising demand for online matchmaking services and wedding planners. The
market is expected to be driven by increasing internet penetration, rising
personal disposable income, lower prices relative to brick and mortar matchmaking
service providers and presence of a large number of online matchmaking portals
offering a variety of matchmaking services. The increasing expenditure on R&D by
companies aiming to explore the possibility of innovative promotional methods
which are cost-effective is expected to boost the market growth in the future.
Furthermore, introduction of
new technologies, upcoming of new market players and online dating sites are
expected to further fuel the market growth. Rapid growth in
internet population and rising demand for wedding planners by the elite and
high income group are major growth drivers for the India Wedding Planner Market.
According to an industry veteran, “favourable consumer
dynamics such as changing outlook among the Indian population especially in
urban areas along with increase in personal disposable income would
rise in the market in upcoming future.”
“Increasing
internet penetration due to technological improvement and decline in the pricing
packages of subscriptions, are anticipated to give a boost to India Online
Matchmaking Market. Lack of
awareness, increasing online frauds, orthodox mindset in rural areas and
enhancing competition are few of the major challenges which will affect the
growth of this industry in the future”, according to the Research Analyst, Ken
Research.
The
report titled “India Wedding Market Outlook to 2020” provides
detailed overview on the Wedding Planning and Matchmaking Industry. This report
helps readers to identify the ongoing trends in the industry and anticipated
growth in future depending upon changing industry dynamics in coming years. The
report will be useful for online matchmaking service providers, major wedding
planning companies and other stakeholders to align their market centric
strategies according to ongoing and expected trends in the future.
Contact Us:
Ken Research
Ankur Gupta, Head
Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
