Top Emerging Trends Of Pocket Lighter Market Progress Forecast 2028 |Grand View Research, Inc.

Posted by Mrudula Karmarkar on December 15th, 2022

The global pocket lighter market size is expected to reach USD 7.43 billion by 2028, registering a CAGR of 2.9% over the forecast period, according to a new report by Grand View Research, Inc. The rising smoking population and increasing disposable income is anticipated to drive the global market growth. The variety of products available, along with customers' inclination towards buying attractive lighters will help to grow the market globally. Some of the vendors offer lighters in various categories such as waterproof, windproof, floating, cigar lighters, and digital light capsule lighters.

Technological innovations in pockets lighter attract a large segment of consumers, which helps in market growth. Manufacturing companies are continuously launching new products with a variety of design patterns in different price ranges, giving an edge to the consumer while buying them. Manufacturing companies are also coming up with new products with technological advancements and added features such as a digital display, and adjustable flame power by taking all the safety precautions.

The availability of lighters in various design forms and a wide price range will boost the industry demand. A number of cigarette smoking people buy premium lighter to fulfill their smoking needs as well as to get a premium touch to their fashion accessories. In many countries, premium lighters are sold majorly in the festive season as these lighters are largely considered a gifting accessory.

The COVID-19 pandemic had a huge impact on major economies around the globe. Many industries are trying to survive by adjusting to new cultures and consumers' buying behaviors. The pocket lighter industry also had an adverse effect on their economic movement. The reduction in consumers' footprint in retail stores coupled with a temporary halt in the production of lighters due to lockdown restrictions in several countries negatively affected the market.

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The increasing number of cigarette smokers and their need for lighters, is boosting the sale of pocket lighters. Smoking habit is increasing in the newer generation and people who already have smoking habits are the prime consumers of pocket lighters. Most smokers carry their lighters, which results in the growing demand for pocket lighters all across the tobacco-consuming nations. People residing in developing nations and Europe have a high tobacco consumption rate. Europe and the Asia Pacific are the major producers and users of pocket lighters, as these regions hold a large smoking population.

Pocket Lighter Market Report Highlights

• The Asia Pacific accounted for the largest market share of over 50% in global revenue in 2021. The presence of a number of regional players, a rising number of smokers, and easy availability of the product will drive the regional market growth
• Flint lighters are the largest contributor to the market with a share of over 60% in global revenue in 2021. As the majority of pocket lighters come under the flint category and the easy availability of products attracts large consumers’
• Europe is estimated to be the fastest-growing region, witnessing growth at a CAGR of 3.4% from 2022 to 2028. Europe has a high rate of the smoking population, the presence of global players, and an increase in a disposable income boost the market
• Plastic-made lighters accounted for the highest revenue share of over 65% of the global revenue in 2021. As they are lighter in weight, come at a low price range, efficient, durable, and reusable
• Online channel is forecasted to be the fastest-growing channel at a CAGR of 3.2% from 2022 to 2028. Wide range of products available in different shapes and sizes than offline mediums

The availability of lighters in various design forms and a wide price range helps the industry to grow globally. Pocket lighters are also considered a fashion trendy product which in turn enhances the demand for premium lighters. In many countries, premium lighters are sold majorly in the festive season as these lighters are largely considered a gifting accessory.

Technological innovations in pockets lighter attract a large segment of consumers, which helps to grow the market. Manufacturing companies continuously launch new products with a variety of design patterns in different price ranges, which gives an edge to the consumer while buying them. Manufacturing companies are coming with new product developments and technological advancements with added features like providing a digital display, and adjustable flame power by taking all the safety precautions.

The COVID-19 pandemic had a negative impact on major economies around the globe due to which these nations faced an economic slowdown. Many industries are now trying to survive in one way or the other by adjusting to new cultures and consumers' buying behaviors. Like other industries, pocket lighter industry also had an adverse effect on their economic movement due to the pandemic. Pandemic brought a lot of changes in consumers' shopping behavior and consumption patterns. Reduced consumers' footprint in retail stores due to a number of countries under strict lockdown situations and having restrictions on stepping outside of their homes along with the halt in the production of pocket lighters during lockdown restrictions and disturbance in the supply chain affected the industry during the period.

List of Key Players of Pocket Lighter Market

• BIC Corporation
• Cricket Lighters (Swedish Match)
• CLIPPER (FLAMAGAS, SA)
• Tokai Corporation
• Zippo Manufacturing Company
• Colibri
• S.T. Dupont
• Zhuoye Lighters Manufacturing Co., Ltd.
• BAIDE International Enterprise
• Ningbo Xinhai Electric Co.
• Benxi Fenghe Lighter Co., Ltd.