The global lighter market size is anticipated to showcase significant growth in the forthcoming years due to the rising consumption of tobacco smokers. This information is published by Fortune Business Insights in its report, titled "Lighter Market, 2021-2028". The product has multi-purpose applications such as igniting a flame for cooking, outdoor activities, tobacco smoking, and others. In addition to this innovations in the product such as windproof, rechargeability, portability, and others are augmenting growth for the product. The product is also consumed for commercial purposes and not only personal utility.
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Market Segmentation
By product type, the market is segmented into gas lighter, electric lighter, flameless lighter, and others. Based on application, the market is fragmented into residential, commercial, outdoor activities. By material used, the market is grouped into plastic, metal, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
List of Key Players Profiled in the Market:
Zippo
Swedishmatch
Zhuoye Lighter
Integral-style
Clipper
NingBo XINHAI
What Does the Report Contain?
The report has details on all the latest technology available in the market. The technological advances made in the industry has been highlighted and the potential opportunities associated with that. The report establishes the challenges of the market and advices various solution to them. It also mentions the growth stimulating factors, the restraints, consumption pattern, distribution channels, and all other vital information associated with the market.
Driving Factor
Increasing Consumption of Tobacco Smoking to Aid Market Growth
The increasing consumption of tobacco by smoking is one of the major driving factors of the market. For example, in 2020, the Centre for Disease Control and Prevention released data that there are is an estimate of approximately 1.3 billion tobacco users worldwide. The growing acceptance of tobacco smoking in society and its consumption socially among the millennials are likely to profile the lighter market growth.
In addition to this, the increasing outdoor activities such as camping, tracking, bonfire, and others are encouraging manufacturers to innovate their products for outdoor suitability. For example, Electric Plasma Arc Lighter has an LED battery indicator, USB recharge capability and is windproof.
Regional Insights
Widespread LPG Consumption in Asia Pacific to Surge Demand
Asia-pacific is expected to hold a prominent lighter market share in the foreseeable future. This is due to the increasing utility of LPG gas connections in the region for cooking. For example, in 2020, the ministry of petroleum and gas issued data that around 265.4 million LPG consumers in India were managed by 23,737 distributors. Additionally, this region has a tradition of burning fireworks during various festivals which is further boosting product sales.
North America is projected to you have a vital market share by 2028. This is due to the rising number of restaurants and takeaway places in the region. Also, the region is one of the prominent consumers of tobacco smoking which significantly contributes to the market growth.
Competitive Landscape
Key Players to Concentrate on Product Innovation to Gain Better Market Footage
The eminent companies of the competitive landscape in the industry are concentrating on product innovation. The increasing amount of outdoor activities is demanding products that are suitable for these activities. In addition to this, the manufacturers are trying to introduce an affordable price range and range of products for the consumers. They are also experimenting with materials to introduce sturdy yet lightweight products in the market especially for portability in an outdoor environment. The mentioned factors are constantly contributing to the companies gaining an edge on their competitors.
Industry Development:
June 2020: Deep brand was acquired by BIC to expand its footprint on the global pocket lighter market and establish its dominance.
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