Tiki Torch Market Size Is Projected To Reach USD 839.07 Million By 2030

 San Francisco, 6 May 2024: The Report Tiki Torch Market Size, Share & Trends Analysis Report By Product (Conventional Fuel, Bug Repellant Fuel), By Placement (Hanging, Standing, Tabletop), By Size, By Region, And Segment Forecasts, 2023 - 2030

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. 

Access Research Report of Tiki Torch Market @ https://www.grandviewresearch.com/industry-analysis/tiki-torch-market-report

Tiki Torch Market Report Highlights

• Bug repellant fuel tiki torches captured the largest market share on account of their varied applications in residential and commercial settings. Citronella oil, cedar, eucalyptus, and other popular bug repellent fuels are dominant elements that are growing the market share for bug repellant fuel tiki torches.
• Many players in the market are offering tiki torches made of glass which are sleek and minimal. As they are essentially glass jars, they are ideal as tiki torch canisters and can store a lot of fuel. Also, glass does not rust or warp in the rain. Tiki torches can also be used as a centerpiece for a table as tabletop glass torches. For instance, TIKI Brand offers King Oahu Glass Torch. It can be used with the included pole or can be detached from the pole and used as a tabletop torch.
• Also, entering developing countries where competition has not intensified yet would provide manufacturers an edge. Strong distribution networks and brand familiarity would help companies maintain their consumer base even when the competition increases in these markets. Currently, tiki torches are more commonly purchased in the U.S. and European countries. The purchase of tiki torches is less in the Asia Pacific. However, tiki torch sales are expected to proliferate in the region as both residential and commercial places have started to give more attention to their outdoor space aesthetic since the pandemic. Manufacturers should take advantage of this opportunity.

Tiki Torch Market Report Scope

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

List of Key Players of Tiki Torch Market

• LAMPLIGHT FARMS INC.
• Fire Fly Fuels, Inc.
• Burnaby Manufacturing Ltd
• Blomus
• Desert Steel
• H POTTER
• Mayo Hardware Pty Ltd
• Focus Industries Inc
• BOBÉ WATER & FIRE FEATURES
• DECOWINDOW

Access Press Release of Tiki Torch Market @ https://www.grandviewresearch.com/press-release/global-tiki-torch-market