New York, NY, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Tiki Torch Market Share, Size, Trends, Industry Analysis Report, By Product (Conventional Fuel Tiki Torch, Bug Repellant Fuel Tiki); By Placement; By Size; By Region; Segment Forecast, 2023 - 2032” in its research database.
According to the research report, the global tiki torch market size & share was valued at USD 461.05 Million in 2022 and is expected to reach USD 941.86 Million By 2032, growing at a CAGR of 7.4% during the forecast period.
What is Tiki Torch? How Big is Tiki Torch Market Size & Share?
- Overview
A tiki torch is a torch mounted on a pole about 5 feet (1.5 meters) tall, with a wick and fuel reservoir on top. Tiki torches were first used in the American tiki culture around the middle of the 20th century. There are many different designs of tiki torches, but the most popular one is made of cane or bamboo. They can be used to turn walkways, patios, pools, or gardens into a tropical paradise. Also, they keep punching insects away, allowing you to have a mosquito-free evening.
These torches are a reasonably cheap way to brighten up the night. Tiki torches are utilized to foster an atmosphere and give the perfect setting for the most memorable outdoor gathering. The increasing popularity of tiki torches in the home décor industry is driving the market growth. When utilized at events like parties, these torches give a fun and festive look. While creating such tropical settings, bamboo torches are deployed. Such aesthetic ideas are boosting the tiki torch market size.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key Takeaways from This Report
- The report presents an in-depth overview of the current structure and forecasts to help identify emerging business opportunities on which to capitalize.
- The report elaborates on the SWOT analysis and Porter's Five Forces model.
- The market-study value chain review gives a good view of the positions of the stakeholders.
- The report highlights key business strategies by major market players and their key methods.
- The report evaluates region-specific growth and development in the market.
Some of the Top Market Players Are:
- Lamplight Farms
- Fire Fly Fuels
- Burnaby Manufacturing
- Blomus
- Desert Steel
- H Potter
- Mayo Hardware
- Focus Industries
- Bobé Water & Fire Features
- Deco Window
- Desert Steel Company
- Worthington Industries
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Market dynamics
Key Growth Driving Factors
- A surge in investment in outdoor improvements to push the market growth
The growing demand for tiki torches to create a unique atmosphere surrounding outdoor entertaining or gathering places, retaining walls, pools, and lakes is fueling the growth of the market. The rising tendency of people to spend money on remolding and adding different decorations like fire pits, lighting, and wind chimes in outdoor areas is supporting the industry's growth. Also, a rise in focus on gardens/backyards and increased investment in outdoor improvements are the crucial factors expected to propel the tiki torch market sales over the forecast period.
Recent Trends Influencing the Market
Manufacturers' efforts to improve their online presence are expected to bolster the industry's expansion
- Businesses are putting more effort into enhancing their online presence and offering beneficial after-sales services as a result of enhancing the consumer's online shopping experience. The prominent industry players are taking major initiatives to introduce various essential oil-infused products to serve to the increasing demand from consumers. These tiki torch market trends are positively influencing overall growth.
- Tiki torches are one product that The Desert Steel Company is known for selling in the market. Bishop dahlia torches, orange daisy torches, sunflower torches, and poppy torches are currently available from the company.
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Segmental Analysis
- The bug Repellant Fuel Tiki Torch is expected to account for the largest market share
Based on product tiki torch market segmentation, the bug repellant fuel Tiki Torch is estimated to acquire the highest revenue share owing to the growing use of oil-based insect repellant Tiki torches as effective insect repellents. Among all the methods of pest management, tiki torches are a favorite for repelling mosquitoes. Due to their bug-repelling properties, bug-repellant fuels have gained a lot of traction among consumers due to their bug-repelling properties. These days, consumers are now very concerned about their health due to the rising spread of diseases like dengue, malaria, yellow fever, zika, and west Nile.
- Standing placement segment dominated the market
On the basis of placement, the standing placement category held the major market share in the tiki torch market due to the ability of these torches to enhance neighborhood gatherings by creating the perfect ambiance and a friendly environment. Customers like using standing lamps in outside areas like gardens and walkways. For instance, the Lytworx Solar Tiki Torch has created to replace a burning candle without actually starting a fire or emitting smoke.
- The above 60-inch segment dominated the market
By size, the above 60-inch category witnessed the largest tiki torch market share in the market because a grass fire pit is a common purchase. These items come in a variety of different forms and shapes. To improve the lighting and attractiveness of the area, the goods that are available in sizes 60 inches and above can be used alone or integrated into a range of complementary fixtures.
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Tiki Torch Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 941.86 Million |
| Market size value in 2023 | USD 494.15 Million |
| Expected CAGR Growth | 7.4% from 2023 - 2032 |
| Base Year | 2021 |
| Forecast Year | 2023 - 2032 |
| Top Market Players | Lamplight Farms, Fire Fly Fuels, Burnaby Manufacturing, Blomus, Desert Steel, H Potter, Mayo Hardware, Focus Industries, Bobé Water & Fire Features, Deco window, Desert Steel Company, Worthington Industries |
| Segments Covered | By Product, By Placement, By Size, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
- North America is anticipated to grow significantly
The tiki torch market demand in North America is likely to register significant growth because tiki torches have gained popularity in the region. These are available in US restaurants by the sea, swimming cabanas, and backyard barbecues. For instance, In the US population in 2021, millennials made up about 21.75 percent of the total. This new generation of parents will continue to be very beneficial to the market for home furniture.
Further, the demand for tiki torches is increasing as a result of this heightened brand recognition across e-commerce platforms. In addition, the rising popularity of entertaining outdoor activities among Americans is anticipated to boost the adoption of these products across the United States and Canada, thereby accelerating regional market growth.
Browse the Detail Report “Tiki Torch Market Share, Size, Trends, Industry Analysis Report, By Product (Conventional Fuel Tiki Torch, Bug Repellant Fuel Tiki); By Placement; By Size; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/tiki-torch-market
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Recent Developments
- On August 2022, The TIKI Brand offered hassle-free entertainment options, including string lights and low-smoke fire pits that have been scientifically shown to have mosquito-repelling properties. It is making leisure more accessible than ever thanks to the wide range of products made to improve the outdoors.
The Report Answers Questions Such as
- What is the market size and forecast of the industry?
- What are the inhibiting factors and impact of key factors shaping the market during the forecast period?
- Who are the key players operating in this market?
- Which application/end-user or product type may seek incremental growth prospects?
- What are the most significant challenges the market could face in the future?
- What growth strategies are the players considering to stay in the market?
Polaris Market Research has segmented the Tiki Torch market report based on product, placement, size, and region:
By Product Outlook
- Conventional Fuel Tiki Torch
- Bug Repellant Fuel Tiki Torch
By Placement Outlook
- Hanging
- Standing
- Tabletop
By Size Outlook
- 32 Inch
- 40 Inch
- 42 Inch
- 55 Inch
- Above 60 Inch
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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