What term refers to joyful and loud celebrations or parties?

The term "revelry" specifically refers to lively and noisy festivities or celebrations. It encompasses the essence of joyful gatherings, often characterized by exuberance, dancing, and an atmosphere of cheerful celebration. This word captures not only the idea of fun and enjoyment but also the communal aspect of such festivities, where people come together to indulge in merriment.

The other terms do not convey the same meaning. "Rapture" implies an intense state of joy or ecstasy but lacks the connotation of public celebration. "Acrid" refers to a sharp or bitter taste or smell, which is unrelated to the context of celebrations. "Capacious" describes something that is roomy or able to hold much but does not pertain to the concept of festivities or parties. Thus, "revelry" stands out as the most fitting choice to describe joyful and loud celebrations.