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Lighter has witnessed an upsurging development as there is a growing need of the product among people for personal as well as commercial use. The product is offering portability which makes it suitable for use in different places, it is assisting to ignite flame for several purposes, and is convenient for quick use are some of the attributes of lighter. The necessity of the product for cooking and bonfire among people involved in outdoor activities such as camping, picnic, tracking, and others is helping to accelerate the need and demand. Furthermore, the rising manufacturing of innovative lighter that is windproof and is rechargeability is acting as an opportunity for market growth. For instance, Electric Plasma Arc Lighter comes with windproof, UBS recharge capability, and LED battery indicator.
The rising consumption of the lighter among tobacco smokers around the world is acting as a driving factor for the market growth. For instance, according to the data issued by the Center for Disease Control and Prevention, May 2020, is stating there is an estimation of around 1.3 billion tobacco users around across the globe.,The flourishing growth of the hotel industry in various countries of the world has a significant contribution to the growing demand for the product. For instance, according to the European Chains & Hotels Report, 2019 is declaring the number of chain hotels in various countries of Europe include Germany 2,217, United Kingdom 3,610, France 3,885and Italy1584.
Nevertheless, the non-existence of safety features to help safeguard from burn-in most of the light available in the market is hampering the market growth.
Key Market Driver -
Tobacco smokers around the world intensifying the used of the product have a significant contribution in driving the market growth
Key Market Restraint -
The non existence of safety features in many lighter act as a restraining factor for the market growth.
Zippo, Swedishmatch, Zhuoye Lighter, Integral-style, Clipper, NingBo XINHAI, and others are the key companies operating in the Lighter market.
The lighter market is segmented into by product type, application, material type, and geography.
On the basis of product type, the market is divided into gas lighter, electric lighter, flameless, others(catalytic lighter, jet lighter). Gas lighter is estimated to be the largest segment owing to the product being present in an affordable price range and the wide availability of the product in the market place.
Based on application, the market is fragmented into residential, commercial, outdoor activities. Residential is estimated to the leading segment on an account of the necessity of the product for the use for cooking purposes is projected to have a vital influence.
By material used, the market is grouped into plastic, metal, and others(wood, bamboo). Plastic is projected to be the prominent market due to plastic possessing lighter weight than other products and being less prone to get electrocuted in case of an electric lighter is helping to boost the consumption for this segment.
On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Asia Pacific is assessed to be the prominent market shareholder and is projected to continue throughout the forecast period of 2020-2027. The increasing usage of LPG gas connections in this region for cooking purposes has a positive impact for the market growth. For instance, according to the data issued by the Ministry of Petroleum and Gas, April 2020, is declaring that there are around 265.4 million LPG consumers in India which are served by 23,737 distributors. Additionally, the popularity of the burning of fireworks in various festivals of the region such as Chinese New Year, Diwali, Yamagata prefecture - Akagawa Japan, and others is boosting the demand for the product.
North America is assessed to exhibit a vital presence in the lighter market owing to the escalating growth of the region food outlet such as restaurants, bars, café, and others has a significant contribution. For instance, according to the data released by the National Restaurant Association, September 2020, is stating that eating and drinking places have shown a sales revenue of USD 54.6 billion on a seasonally-adjusted basis in August 2020. Furthermore, the booming growth of the recreational vehicle industry in this region results in increasing demand for lighter for cooking purposes among RV owners is likely to fuel the consumption rate. For instance, according to the data issued by RV Industry Association 2019, is stating that the overall impact recreational vehicle industry on the United States economy is estimated to be USB112 billion.
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