Pocket Lighters Market to Grow at a Sluggish CAGR of 2.9% through 2026

The pocket lighters market is likely to grow at a CAGR of 2.9% during the assessment period 2017-2026, according to a latest business intelligence study added to the repository of Market Research Reports Search Engine (MRRSE). The report titled “Pocket Lighters Market – Global Industry Analysis, Share, Size, Growth, Trends and Forecast 2017 – 2026” offers in-depth analysis and insights on the pocket lighters market.

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According to the report, efforts to encourage people to quit smoking, combined with safety concerns associated with pocket lighters are the key reasons for the sluggishness in the market. Government and not-for-profit associations around the globe are focusing on getting people to quit smoking. This has worked to the disadvantage of lighter manufacturers, as the consumer base is shrinking rapidly.

In addition to reduction in the number of smoking, demand for pocket lighters has also decreased on account of incidents of fire and explosions. Leading manufacturers in the market have got negative coverage due to concerns about public safety. These factors are further likely to dent the prospects of pocket lighters market during the assessment period.

According to the study, the preference towards electronic lighters is growing steadily, and this is corresponding to the decrease in the sales of flint cigarette lighters. According to the research study, nearly US$ 4 billion worth of flint cigarettes were sold around the world in 2017. However, concerns about the risk of explosion due to the presence of pressurized gas is likely to dent the prospects of flint lighter manufacturers during the assessment period. Although flint lighters are waning in demand, they still account for the leading revenue share of the market.

View Complete TOC with Tables and Figures at: https://www.mrrse.com/pocket-lighters-market

The research study also finds that growing focus on safety and use of lighters as a fashion statement will induce higher sales of metal lighters, vis-à-vis plastic lighters. Manufacturers are aware of the changes in the consumer preference, and it is highly likely that demand for plastic pocket lighters will witness a steady decline during the assessment period. However, plastic pocket lighters will still account for the leading share of the market, on account of affordability.

The business intelligence study also profiles some of the leading players in the pocket lighters market. According to the study, some of the key players operating in the market include Clipper, Cixi Xinyuan Cigarette Lighter, Ningbo Xinhai, Tokai Corporation, Swedishmatch, Baide International, Benxi Fenghe Lighter, Hefeng Industry, Zhuoye Lighter, Wansf, Focus, and Deko Industrial.

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This release was published on openPR.