Tiki Torches Market Segmented By Gas/Oil Tiki Torches, Electric Tiki Torches, Solar-powered Tiki Torches Product with Glass, Metal, Plastic, Aluminum, Stainless Steel, Wood/Bamboo, Ceramic Material
Industry: Consumer Goods
Published Date: July-2020
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP31659
Tropical style is a popular décor trend, and its popularity is continuously increasing in the home décor industry. When one considers tropical aesthetics, then outdoor lights and fires play an important role in adding to the beauty.
Apart from home décor, tiki torches are also increasingly used in Hawaiian parties, as they add on to the festive and glowing look at such events.
A tropical setting in such themed parties is created by setting up bamboo torches and other related fire decorations. Such trending aesthetic ideas have contributed significantly to the growth of the tiki torches market size.
There are many fragmented players in the market that have been supplying these products, especially for Luau party decorations.
Tiki Torches Inspired by Art of Nature Gaining Prominence: Tiki torches inspired by the art of nature is a new market trend. These tiki torches are specially designed for outdoor gardens, and are available in different styles in the market, few that include fruit and flower styles.
Such tiki torches are gaining prominence in the market because they add on to the beauty in a backyard during the day, add glow in the evenings, and create a peaceful ambience.
The Desert Steel Company is one such company in the market that is known for offering such torches. Currently, the company offers sunflower torches, bishop dahlia torches, orange daisy torches, and poppy torches.
Premiumization Bridging Gap between Mass Market and Luxury: Premiumization is now embraced by a larger audience in the market. The perception regarding premium products has now changed, which today, is just not confined to price but also exceptional quality, experience, and uniqueness of product style.
The trend of premiumization continues to prevail in the tiki torches market as well. Well-established players in the market are promoting tiki torches made using premium materials such as heavy weight copper, steel, and non-rustic materials as premium products. For instance, The Bobé Water and Fire Company promotes its products made from premium materials.
North America holds a dominant tiki torches market share, as the adoption of tiki torches is comparatively high in the region as compared to other regions, followed by Europe. Currently, players in the market are focused on promoting fuels with specific properties.
Few of the fuel properties that are being promoted in the market include scented fuel, odorless fuel, fuels that are non-toxic, biodegradable fuel, and fuel that causes less smoke and soot while burning.
In case of material, metal tiki torches are quite prominent in these regions, owing to their special corrosion-resistant properties. However, the bamboo segment is expected to expand at a considerable rate during the forecast period.
The tiki torches market is dominated by well-established players. The market is quite fragmented, with a large number of small-scale players operating in the landscape. The penetration of tiki torches market players is high in North America, as product adoption in the region is high. Players in the market are currently promoting their torches as a natural mosquito repellent therapy, as tiki torches are known and highly preferred to get rid of mosquitos and other insects.
The global COVID-19 pandemic outbreak has negatively affected a few of the potential segments of the tiki torches market, namely, consumer retail and hospitality. Consumers are taking high precautions and are avoiding traveling as much as possible. The social distancing concept is also restraining people from attending or organizing public meetings and gatherings.
This ongoing COVID-19 pandemic has negatively impacted the hospitality segment, which has directly resulted in lowering the demand from this segment. Apart from this, consumers across different regions are facing health and financial issues, which has lowered their capacity of making discretionary purchases. Such a scenario has resulted in market stagnancy.
A brief overview of the changing landscape of the tiki torches market has led our analysts to conclude that, the market has immense potential for future growth, despite the current temporary disruptions due to COVID-19. The market is well established in Western regions, and is likely to open future potential in emerging economies as well. Changing trends in the décor industry are likely to positively impact the growth of tiki torches market over the coming years.
PMR’s research study on the global tiki torches market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The tiki torches market is segmented on the basis of product, material, size, price range, sales channel, and region. Every segment is analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
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The tiki torches market research report includes a competitive landscape that provides a dashboard view of the key competitors operating in the market. Some of the market players included in this section are Lamplight Farms Inc, Firefly Fuels Inc, Burnaby Manufacturing Ltd., Blomu GmbH, Desert Steel Company, H Potter Company, Mayo Hardware Pty Ltd, Bobe Water and Fire LLC, Desert Steel Company, FOCUS Industries Incorporated, Worthington Industries Inc., and others.
The research study on the tiki torches market offers inclusive insights about the growth of the market in the most comprehensive manner. Key insights offered in the tiki torches market report answer some of the most salient questions that assist stakeholders in gauging all the emerging possibilities.
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