Tiki Torch Market to Grow with a CAGR of 7.6% through 2029
Rising demand for these products to add an authentic ambiance
to pools and lakes are factors driving the global tiki torch market in the
forecast period 2025-2029.
According to TechSci Research report, “Tiki
Torch Market - Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029F”, the Global Tiki Torch Market stood at USD 469.6 Million
in 2023 and is anticipated to grow with a CAGR of 7.6% ithrough 2029. The Tiki torch market, an integral segment of the outdoor decor
industry, has witnessed dynamic growth in recent years, driven by a combination
of factors ranging from changing consumer preferences to technological
innovations.
The Tiki torch market has experienced notable growth
in recent years, propelled by a surge in outdoor activities, an increased focus
on aesthetic outdoor decor, and the introduction of innovative product
offerings. While specific market size figures may vary, the industry has seen a
steady rise in revenue and market share. The growing popularity of outdoor
entertaining, the desire for sustainable and eco-friendly solutions, and the
integration of smart technologies have contributed to the market's expansion.
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The consumer base for Tiki torches is diverse,
encompassing a wide range of demographics. From homeowners looking to enhance
their backyard spaces to event planners seeking decorative elements for outdoor
gatherings, the appeal of Tiki torches transcends age, income, and lifestyle
categories. The market caters to both residential and commercial segments, with
consumers seeking versatile, stylish, and functional outdoor lighting
solutions. The Tiki torch market has experienced notable growth in recent years,
propelled by a surge in outdoor activities, an increased focus on aesthetic
outdoor decor, and the introduction of innovative product offerings. While
specific market size figures may vary, the industry has seen a steady rise in
revenue and market share. The growing popularity of outdoor entertaining, the
desire for sustainable and eco-friendly solutions, and the integration of smart
technologies have contributed to the market's expansion.
A primary driver of the Tiki torch market is the
increasing demand for outdoor living spaces. As consumers seek to extend their
indoor living experience to the outdoors, the market has responded with
products that enhance the ambiance of patios, gardens, and backyard spaces.
Tiki torches, with their ability to create a warm and inviting atmosphere, have
become integral to the transformation of outdoor areas into personalized
retreats. The surge in the trend of outdoor entertaining has significantly
contributed to the growth of the Tiki torch market. Consumers, increasingly
opting for al fresco dining, barbecues, and social gatherings, are seeking
decorative elements that elevate the overall experience. Tiki torches, with
their flickering flames and tropical aesthetics, have become synonymous with
outdoor entertaining, providing not only illumination but also a festive and
inviting atmosphere.
In conclusion, the Tiki torch market is a dynamic and
evolving sector within the outdoor decor industry. The market's growth is
propelled by factors such as the rising demand for outdoor living spaces, the
trend of outdoor entertaining, a focus on aesthetic and functional design,
innovation in fuel and material technology, and the influence of cultural and
seasonal trends. However, the industry faces challenges, including
environmental concerns and regulatory pressures, seasonality, intense
competition, changing consumer preferences, and supply chain disruptions.
Stakeholders in the Tiki torch market must navigate
these challenges while capitalizing on emerging trends to sustain growth and
relevance in a competitive landscape. By embracing sustainability,
incorporating smart technologies, offering versatile designs, and staying
attuned to consumer preferences, businesses can position themselves for
long-term success in this vibrant and evolving market.
The global Tiki Torch market is segmented into type, placement,
size, and region.
Based on type, the Conventional Fuel Tiki Torch type emerges as the fastest-growing segment due to several key factors. Firstly, traditional tiki torches fueled by conventional sources like oil or propane offer a timeless charm and ambiance, appealing to consumers seeking an authentic outdoor experience. Secondly, the convenience and ease of use of conventional fuel options make them popular among consumers who prioritize simplicity and reliability in their outdoor lighting solutions. Additionally, the versatility of conventional fuel tiki torches allows for easy integration into various outdoor settings, driving their rapid adoption and contributing to the segment's growth in the market.
Major companies operating in global Tiki Torch market
are:
- Lamplight Farms Inc.
- Fire Fly Fuels, Inc.
- Burnaby Manufacturing Ltd
- Blombus GmbH
- H Potter Marketplace, Inc.
- Mayo Hardware Pty Ltd
- Focus Industries Inc
- Custom Molded Products, LLC
- Jayanita Exports Pvt Ltd. (Deco Window)
- W.C. Bradley Co.
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“The Tiki torch market, a dynamic segment of the
outdoor decor industry, is experiencing robust growth driven by a surge in
demand for outdoor living spaces and the popularity of outdoor entertaining.
Consumers seek versatile designs, incorporating eco-friendly materials and
smart technologies. However, challenges include environmental concerns,
seasonal dependencies, intense competition, and changing consumer preferences.
Navigating these challenges requires sustainable practices, innovation, and
strategic adaptation to emerging trends. The market's future success hinges on
stakeholders' ability to balance aesthetic appeal, functionality, and
environmental responsibility, offering consumers a diverse range of Tiki torch
options”, said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Tiki Torch Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Conventional Fuel Tiki Torch, Bug Repellant Fuel Tiki torch), By Placement (Hanging, Standing, Tabletop), By Size (32 Inch, 40 Inch, 42 Inch, 55 Inch, Above 60 Inch), By Region, By Competition, 2019-2029F", has evaluated the future growth potential of global Tiki
Torch market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global Tiki Torch market.
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