Global Tiki Torch Market Size, Share & Industry Trends Analysis Report By Product, By Placement (Standing, Tabletop and Hanging), By Size (Above 60 Inch, 42 Inch, 55 Inch, 40 Inch and 32 Inch), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Tiki Torch Market
Market Report Description
The Global Tiki Torch Market size is expected to reach $702.4 million by 2028, rising at a market growth of 8.0% CAGR during the forecast period.
A tiki torch is a pole-mounted torch that is often constructed of bamboo. It was first popularized in the mid-20th century American tiki culture and has since gained appeal worldwide as a tropical island-inspired party décor. The most popular kind of tiki torch is a bamboo stick with a container of flammable liquid at the top, followed by a lighted wick drawing from that container, although early mass-produced torches were made from aluminum or other metals.
The desire for these items to give a genuine atmosphere around pools and lakes, alongside retaining walls, or next to outdoor entertainment or gathering spaces is the key factor driving the development of the worldwide market. The STIHL British Garden Census also revealed that in 2020, expenditure on garden and backyard renovations, as well as garden-related accessories climbed considerably. Over the course of the projection period, all of these variables are anticipated to have a favorable effect on demand.
Due to the COVID-19 pandemic, more individuals are now spending time in their gardens and backyards. In the last two years, consumers have also invested money in remodeling and adding different accents to outdoor settings, like wind chimes, lighting, lanterns, and fire pits. Sales are anticipated to rise throughout the projected period due to reasons such as greater interest in gardens and backyards and more expenditure on outdoor improvement.
COVID-19 Impact Analysis
The consumer retail and hotel industries, two potential markets for tiki torches, have also been adversely impacted by the worldwide COVID-19 pandemic. Consumers are exercising extreme caution and limiting their travel as much as they can. People are discouraged from participating in or planning public events and meetings due to the idea of social distance. The hotel industry has been badly affected by the continuing COVID-19 pandemic, which has directly led to a decline in demand from this industry.
Market Growth Factors
Increasing Customer Preference for Luxury Lifestyle
The demand for lighting goods has increased dramatically worldwide due to the rising consumer tendency toward affluent lifestyles. Both the business and residential sectors have seen this demand. Additionally, as part of smart city projects, government buildings and monuments are increasingly utilizing luminaires and lamps. Luxury homes offer a wealth of thoughtful luxuries and the perfect setting for raising a family. The majority of these houses have cutting-edge amenities and gorgeous interiors while being constructed.
Improves the Aesthetics of the House
An outdoor light improves a home's appeal to both residents and visitors. Additionally, individuals spend more on beauty due to rising urbanization and the perception of outdoor entertainment areas as soothing spaces. People upgrade their entertainment spaces with music systems, lighting fixtures, lamps, furniture, etc. The installation of outdoor torches may also assist in defining the area and make the garden or entranceway more orderly. Obviously, it is a popular option and a timeless classic to place these big torches on each side of a path.
Market Restraining Factor
Health Dangers Posed By Fuel-Based Lighting
A substantial but specialized body of medical literature lists a number of dangers related to fuel-based lighting, including air pollution, suppressed visual health, air pollution, and degraded health services and results in fuel-based lighting-lit buildings. Every risk factor causes sickness, most of which end in fatalities. The most popular tiki torches for sale are those powered by conventional gasoline. These torches do come with certain hazards, however. The fuels used in tiki torches are unsafe and harmful for children, according to researchers at the Oklahoma Center for Poison and Drug Information.
Based on Product, the Tiki Torch Market is classified into Bug Repellant Fuel and Conventional Fuel. In 2021, the Bug Repellant Fuel segment dominated the market with largest revenue share. The fuel for insect sprays dominated the industry. The bug-repelling capabilities of the insect-repelling torches, which are often blended with essential oils like citronella, cedar, eucalyptus, and among others, have made them highly popular with customers. Additionally, as people are increasingly concerned about their health, the market for insect-repellent torches is predicted to expand.
Based on placement, the Tiki Torch Market is classified into Hanging, Standing, and Tabletop. The tabletop segment showcased the substantial revenue share in the market in 2021. The tabletop torches offer a simple but elegant appearance that complements any interior design scheme on outdoor furniture, like dining tables and coffee tables. It is a great replacement for candlesticks and tapers candles. The major market participants also provide deck goods, which are a component of tabletop torches.
Based on size, the Tiki Torch Market is classified into 32 Inches, 40 Inches, 42 Inches, 55 Inches, and Above 60 Inches. In 2021, Above 60 inch segment garnered the highest revenue share in the market. These goods are easily accessible in a huge selection of designs and forms. The goods that are 60 inches and larger may be used alone or combined into a number of complementary fixtures to provide additional lighting and home döcor. The market for tiki torches 60 inches and larger have increased in recent years due to changes in customer tastes and an increase in disposable cash since bigger torches provide compatibility, brightness, and superior light quality.
|Market size value in 2021||USD 414.9 Million|
|Market size forecast in 2028||USD 702.4 Million|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 8% from 2022 to 2028|
|Number of Pages||177|
|Number of Tables||358|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, Placement, Size, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on region, the tiki torch market is categorized into North America, Europe, Asia Pacific, and LAMEA. In 2021, North America had the highest market share. These goods have become quite popular in the area and are now very common in beach-themed restaurants, poolside cabanas, and family barbecues all across the Pacific island. The product that repels insects is anticipated to expand its market share the quickest in North America. For indoor and outdoor use, a number of firms provide items that kill mosquitoes and other insects by using natural repellants.
Free Valuable Insights: Global Tiki Torch Market size to reach USD 702.4 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fire Fly Fuels, Inc., Burnaby Manufacturing Ltd., blomus GmbH, Desert Steel, Inc., H Potter Marketplace, Inc., Focus Industries, Inc., Bobé Water & Fire LLC (Custom Molded Products, Inc.), Jayanita Exports Pvt Ltd. (Deco Window)
Scope of the Study
Market Segments Covered in the Report:
- Bug Repellant Fuel
- Conventional Fuel
- Above 60 Inch
- 42 Inch
- 55 Inch
- 40 Inch
- 32 Inch
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Fire Fly Fuels, Inc.
- Burnaby Manufacturing Ltd.
- blomus GmbH
- Desert Steel, Inc.
- H Potter Marketplace, Inc.
- Focus Industries, Inc.
- Bobé Water & Fire LLC (Custom Molded Products, Inc.)
- Jayanita Exports Pvt Ltd. (Deco Window)
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What would be the size of the Tiki Torch Market by 2028?
The global Tiki Torch Market size is expected to reach $702.4 million by 2028.
What are the key driving factors and challenges in the Tiki Torch Market?
Increasing Customer Preference for Luxury Lifestyle are driving the market in coming years, however, Health Dangers Posed By Fuel-Based Lighting restraints the growth of the market.
What are the major top companies in the competitive landscape?
Fire Fly Fuels, Inc., Burnaby Manufacturing Ltd., blomus GmbH, Desert Steel, Inc., H Potter Marketplace, Inc., Focus Industries, Inc., Bobé Water & Fire LLC (Custom Molded Products, Inc.), Jayanita Exports Pvt Ltd. (Deco Window)
At what CAGR is the Tiki Torch Market estimate to grow in the forecast period?
The expected CAGR of the Tiki Torch Market is 8.0% from 2022 to 2028.
Which segment is leading the market in 2021?
The Standing market is leading the Global Tiki Torch Market by Placement in 2021; thereby, achieving a market value of $319.7 million by 2028.
Which region dominated the Tiki Torch Market in 2021?
The North America market dominated the Global Tiki Torch Market by Region in 2021; thereby, achieving a market value of $265.5 million by 2028.