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Posted by lucky on May 31, 2024 at 11:24pm 0 Comments 0 Likes
The global Tiki Torch Market is expected to reach USD 839.07 million by 2030, according to a new report by Grand View Research, Inc. These torches have gained immense popularity in the recent years since they enhance the appearance of a garden and backyard during the day, offer a light at night, and contribute to the creation of a serene environment.
The demand for tiki torches is expected to witness significant growth in the years to come due to the increasing consumer demand for outdoor decoration products in the residential sector coupled with the rising disposable income. Also, over the past few years, there has been a rise in the commercial utility of tiki torches, with numerous commercial offices/ spaces, restaurants, hotels, public gardens, and public centers using tiki torches in their outdoor spaces as a means of enhancing the aesthetics and ambiance of outdoor spaces.
Relative to every other region over the forecast period, North America and Europe are projected to have the highest demand for tiki torches. A record USD 47.8 billion was spent by American gardeners on lawn and gardening equipment, according to the 2021 Garden Media Garden Trends Report. The average household spent a record amount on gardening tools and accessories, including decorative products, at 503 USD (up over 100 USD from the prior year).
In recent years, wine bottle lights have gained traction among people, particularly among Gen Z and millennials. Gen Z and millennials show an inclination toward decorative lighting with innovation in terms of design and material. Furthermore, manufacturers are investing in product development to cater to this demand.
Conventional fuel-based tiki torches are most commonly purchased. However, these torches have some associated risks. According to the experts at Oklahoma Center for Poison and Drug Information, fuels used in tiki torches are not safe and dangerous for kids. Even the smoke generated from the fuel isn’t considered good for overall health. The adoption of tiki torches will be negatively impacted over the forecast period due to these danger.
A recent market trend involves tiki torches that are inspired by natural art. There are a few tiki torches in the market that are specifically made for outdoor gardens and come in fruit and floral designs. For instance, Desert Steel offers torches and solar lamps in designs of cactus, flowers, and palm trees. These tiki torches are becoming more popular as they enhance the appearance of a backyard during the day, add shine at night, and provide a pleasant atmosphere.
Related Press Release@ Tiki Torch Market Report
List of Key Players of Tiki Torch Market
Tiki Torch Market Report Highlights
Related Reports@
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Report Attribute |
Details |
Market size value in 2023 |
USD 495.39 million |
Revenue forecast in 2030 |
USD 839.07 million |
Growth rate |
CAGR of 7.7% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2017 - 2020 |
Forecast period |
2023 - 2030 |
Tiki Torch Market Segmentation
Grand View Research has segmented the global tiki torch market on the basis of product, placement, size, and region:
Tiki Torch Product Outlook (Revenue, USD Million, 2017 - 2030)
Tiki Torch Placement Outlook (Revenue, USD Million, 2017 - 2030)
Tiki Torch Size Outlook (Revenue, USD Million, 2017 - 2030)
Tiki Torch Regional Outlook (Revenue, USD Million, 2017 - 2030)
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