Number of marriages in the UK continues to fall
Changes in British attitudes and perceptions about marriage have
altered the way individuals conduct their relationships. The number
of cohabiting couples over 16 has trebled between 1979 and 2001
whilst the number of marriages dipped by 19% during the same period.
This drop can be attributed to the decrease in the number of individuals
within the 25-34 age group (the key segment for first marriages),
as well as the rise in the number of individuals remaining single.
It is estimated that the number of marriages will fall by a further
4% between 2003 and 2006.
Divorce and marriage rates
The total number of marriages taking place in the UK has fallen
by 17% in the last ten years, from 356,000 in 1992 to 294,000 in
2002. The number of marriages in the UK declined steadily year on
year until 2000 when figures rose by 2%. This momentary increase
appears to have been an anomaly as by 2001 marriage rates slipped
by 3%. It is estimated that in 2003, the number of marriages taking
place in the UK will fall to just under 290,000 before declining
to reach 277,000 marriages by 2006.
The wedding market
Despite the decrease in the number of marriages taking place in
the UK, the market value of the wedding market has grown steadily
with each passing year, and is currently estimated at GBP 4.4 billion,
representing an increase of 33% since 1998. Between 1998 and 2002,
with the exception of 2001, the expansion rate of the wedding market
surpassed annual inflation rates by as much as five times, highlighting
the phenomenal headway made in this market. This growth rate is
forecasted tol level with inflation by 2006, as the number of marriages
taking place declines by 4% over 2003 figures. Nonetheless, the
value of the market is still forecast to reach a hefty GBP 4.8 billion
by 2006, a significant 9% increase over 2003.
