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.
Ankur Gupta, Head Marketing & Communications
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