Global Cigarette Lighter Market to Cross US$ 7 Billion by 2023

“Global Cigarette Lighter Market to Cross US$ 7 Billion by 2023”
The global cigarette lighter market has been witnessing a positive growth over the past few years. This can be attributed to technological advancements, rapid changes in lifestyles along with new marketing techniques and investments made by manufacturers.

A cigarette lighter is a device that produces flames in order to light cigarettes, pipes or cigars. These lighters consist of a plastic or metal container which is filled with flammable gas or liquid. Cigarette lighters are portable and can either be refillable or disposable. Nowadays, they have become more convenient and safe for the consumers, whereas earlier they used to be larger and bulkier in size as well as much more dangerous. A new research report by IMARC Group, titled “Cigarette Lighter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global cigarette lighter market was worth US$ 6 Billion in 2017. The report further anticipates the market to cross US$ 7 Billion by 2023, at a projected CAGR of 2.5% over the forecast period.

Global Cigarette Lighter Market Drivers/Constraints:

  • Cigarette manufacturers are making more investments and adopting new marketing strategies which have resulted in an augmented demand for cigarettes. This acts as one of the major factors which is driving the growth of the global cigarette lighter market.
  • On account of technological advancements, manufacturers are now offering products with improved designs, convenience and functionality. This, in turn, contributes to the propelled demand for cigarette lighters.
  • Some of the other factors which are driving the growth of the market include rising disposable incomes, change in lifestyles, rapid urbanisation, advancements in technologies and premiumisation of cigarette lighters.
  • However, the consumers have become aware about the health threats posed by smoking cigarettes. This is one of the major obstacles for the growth of the global cigarette lighter market.

Product Type Insights:

On the basis of type, there are a large number of cigarette lighters available in the market some of which include flint cigarette lighter and electronic cigarette lighter. Currently, flint cigarette lighter dominates the market, holding the majority of the share.

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Regional Insights:

On a geographical front, Asia Pacific enjoys a leading positing in the global cigarette lighter market. This can be accredited to a rise in consumer incomes and increase in smoking prevalence across the region. Asia Pacific is followed by Eastern Europe, Western Europe, Middle East and Africa, North America and Latin America.

Competitive Landscape:

The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

  • BIC
  • Cricket
  • Clipper

Browse related reports:

Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

Tobacco Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

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