Christmas decoration market insight report
There are still many uncertainties in global economic growth in 2021. The IMF predicts that the global GDP growth rate in 2021 will be 6% and will drop to 4.4% in 2022. The government work report for the Chinese market in 2021 set a goal of GDP growth of more than 6%, but the market generally expects that the growth rate of the Chinese market economy this year is expected to reach more than 8%. The IMF raised the forecast for the Chinese market’s economic growth this year to 8.4%. However, the global recovery is incomplete and uneven. Although the recovery in the second half of 2020 is stronger than expected, the GDP of most countries will still be much lower than the level before the epidemic.
The Chinese market has returned to the level of growth before the epidemic, ahead of other economies, and has recovered in many ways. However, the growth is unbalanced and personal consumption is still weak. With the normalization of investment growth, the consumer market is expected to catch up. We don’t know how long this epidemic will last. The uneven access to vaccines in developed and emerging economies, coupled with the possibility of further recurrence of the epidemic, will increase the uncertainty of the global recovery.
The current economic environment has a close influence on the development of the Christmas decoration industry. According to XYZ Research, the global Christmas decoration market will be XX billion yuan in 2020, of which the Chinese market will be XX billion yuan, and it is expected to reach XX billion yuan in 2021. The CAGR is expected to be around XX% from 2021 to 2026. In 2020, the US market accounted for XX% of global Christmas decoration sales, and European Christmas decorations accounted for XX%.