Pocket Lighter Market Growth & Trends
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.
Pocket Lighter Market Segmentation
Grand View Research has segmented the pocket lighter market based on product type, material type, distribution channels, and region:
Based on the Product Type Insights, the market is segmented into Flint Lighter, Electronic Lighter, Other.
- Flint is the largest contributor to the market with a share of over 60% in global revenue in 2021. The majority of brands manufacture and sell their lighter in the flint category, due to its popularity, ease of operation, ability to ignite in wind, and security, which in turn will drive the industry demand over the forecast timeline.
- The electronic segment is forecast to be the fastest-growing category at a CAGR of 3.3% from 2022 to 2028. Technological advancement would drive the electronic lighters market growth. Manufacturers are providing a digital display to attract consumers. Furthermore, these lighters have a rising demand as they are chargeable through USB, do not require fuel to fill it as well as, are much safer than others, and are re-usable.
Based on the Material Type Insights, the market is segmented into Plastic, Metal, Other.
- The plasticsegment accounted for the highest revenue share of over 65% in 2021. Plastic-made lighters have large demand in the global market, as they are lightweight, economical, efficient, durable, and reusable too. Companies produce disposable lighters as it does not harm the environment, by taking all the safety precautions. Easy availability of lighter at tobacco shops, and attractive designs drives the segment growth.
- Lighters made of metal are forecasted to be the fastest-growing in global revenue at a CAGR of 3.2% from 2022 to 2028. Metal-made lighters come in a premium price range, as they are highly durable, provides higher safety, and come in different design patterns and shapes.
Based on the Distribution Channel Insights, the market is segmented into Offline Stores, and Online Stores.
- Offline channels contributed over 70% to the global market in 2021. Offline channels like supermarkets, convenience stores, specialty stores, retail stores, and tobacco shops are the major places where lighters are mostly sold. A large number of the population still prefer to buy from these channels. The dominance of offline channels is expected to continue during the forecast period.
- Online channels is expected to witness the fastest growth at a CAGR of 3.2% from 2022 to 2028. A number of people prefer to buy branded lighters through the online medium and have a variety of choice options. Sometimes online retailers offer a discount on branded lighters. Shopping for lighter online is most popular among millennials. Increasing demand from consumers through the online medium will boost the market growth.
Pocket Lighter Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East and Africa (MEA)
Market Share Insights
- June 2020: BIC corporations announced that they are in agreement with the acquisition of Djeep for 40 million euros and enhancing their leadership in the market.
Key Companies Profile & Market Share Insights
The pocket lighters market is fragmented in nature, due to the presence of global as well as a large number of local players. Manufacturing companies strengthen their presence through various strategies such as mergers and acquisitions, expansion of distribution channels, building a better supply chain, or reaching the consumer by doing advertising through a number of mediums or by providing offers on products in festive seasons.
Some of the prominent players operating in the global pocket lighter market include,
- Archer Daniels Midland Co.
- Associated British Foods PLC
- Cargill, Inc
- Corbion N.V.
- Kerry Group PLC
- Novozymes A/S
- Puratos Group NV
- Koninklijke DSM N.V.
- Stern-Wywiol Gruppe GMBH Co. KG
Order a free sample PDF of the Pocket Lighter Market Intelligence Study, published by Grand View Research.
