Global Market Study on Tiki Torches: Increasing Popularity of Tropical Island Aesthetics Driving Market Growth


Tiki Torches  Market
  • Published On : Jul-2020 |
  • Pages : 300 Pages |
  • Format : Tiki Torches  Market Tiki Torches  Market Tiki Torches  Market Tiki Torches  Market

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 Market Trends

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.

Regional Overview of Tiki Torches Market

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.

Tiki Torches Market: Competition Landscape

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.

COVID-19 Pandemic Impact on Tiki Torches Market

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.

Analysts’ Viewpoint

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.

Tiki Torches Market - Scope of the Report

Persistence Market Research (PMR) recently published a new report on the tiki torches market for the assessment period of 2020-2030. The report offers a close look at the evolving aspects of the tiki torches market, and insights into the dynamics impacting market growth. It also focuses on key developments in the tiki torches market. The report includes various macro- and micro-economic factors responsible for a significant impact on the tiki torches market.

The report on the tiki torches market extensively focuses on the key trends shaping its growth. Additionally, the included opportunity analysis on the tiki torches market underlines the untapped corners for aspiring players. The report on the tiki torches market also offers a holistic view of the incremental opportunity, which can further help readers make effective decisions for the growth of their businesses.

All stakeholders in the tiki torches market can rely on the data offered in this report to make critical decisions. Moreover, the information offered in this report also can help new market entrants expand their bases in the tiki torches market.

The report elaborates on both, the historical and current trends shaping the market. The performance journey of the tiki torches market been drawn and analyzed to make the lucrative opportunities in the market evident to readers. The competitive landscape presented in the tiki torches market report gives a detailed outlook of the profiles of key companies operating in the market, along with their differential strategies and key focus areas.

Tiki Torches Market: Segmentation

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.

Product

  • Gas/Oil Tiki Torches
  • Electric Tiki Torches
  • Solar-powered Tiki Torches


Material

  • Glass
  • Metal
  • Plastic
  • Aluminum
  • Stainless Steel
  • Wood/Bamboo
  • Ceramic
  • Others

Size

  • Under 30 Inches
  • 31-50 Inches
  • 51-70 Inches
  • 71-90 Inches

Price Range

  • Economy
  • Mid-range
  • Premium

Sales Channel

  • Specialty Stores
  • Home Centers
  • Multi-brand Stores
  • Furniture Stores
  • Mass Merchandise
  • e-Commerce

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa (MEA)

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.

Tiki Torches Market: Key Questions Answered in the Report

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.

  • How is the outbreak of the coronavirus pandemic impacting the growth of the tiki torches market?
  • What are the key trends that are constantly shaping the growth of the tiki torches market?
  • Which are the prominent regions that offer plentiful opportunities for players in the tiki torches market?
  • What are the differential strategies adopted by key players to hold a significant share in the global tiki torches market?

Tiki Torches Market: Research Methodology

A unique and promising research methodology forms the base of the tiki torches market report for the forecast period. This report has been prepared after comprehensive analysis of market events, and riveting insights have been compiled meticulously. The research methodology for the tiki torches market is a two-step process comprising primary and secondary research. Key stakeholders such as suppliers, service providers, and experts of several designations, including executive vice presidents, directors, technical advisors, GM marketing professionals, and sales professionals have been interviewed. Secondary sources referred to obtain information include investor presentations of manufacturers, World Bank, IMF, and other credible sources.

Companies covered in Tiki Torches Market Report

  • Lamplight Farms Inc.
  • Fire Fly Fuels, Inc.
  • Worthington Industries
  • Bobe Water & Fire
  • Matney
  • Aityvert
  • H Potter
  • Legends International LLC
  • Burnaby Manufacturing Ltd
  • Devco LLC
  • Mayo Hardware Pty Ltd
  • Starlite Garden & Patio Torch Co.
  • Blombus GmbH
  • Desert Steel Co.
  • FOCUS Industries, Inc.
  • Other Players (As Requested)
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