The pocket lighter market will register a CAGR of almost 3% by 2023

NEW YORK, March 20, 2019 /PRNewswire/ — About this market

Manufacturers are offering a wide variety of pocket lighters to address the requirements of end-users. A few of the popular products include reusable lighters, stormproof torch lighters, floating lighters, and waterproof lighters. Specialty lighters such as light capsule lighters, waterproof lighters, and refillable lighters are also available in the market. Capsule lighters are small in size and easy to carry, whereas waterproof lighters are ideal for wet and moist conditions. Pocket lighters are also being widely used in day-to-day applications such as lighting stoves. Hence, the demand for pocket lighters is expected to be high during the forecast period. Technavio’s analysts have predicted that the pocket lighter market will register a CAGR of almost 3% by 2023.

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Market Overview

Growing demand from emerging countries

The demand for pocket lighters is growing continuously in emerging countries due to the rise in the number of smokers. Therefore, the demand for pocket lighters in emerging countries will grow with the increase in the number of smokers.

Competition from substitute products of cigarettes

The decline in sales of cigarettes due to the advent of new tobacco products such as dissolvable tobacco. e-cigarettes. e-hookah. chewing tobacco. and snuff will also affect the growth of the global pocket lighter market. The adoption of other tobacco products such as e-cigarettes is one of the main reasons for the decline in the number of smokers in these countries. Therefore. the increasing adoption of other tobacco products will be a major challenge for the global pocket lighter market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the pocket lighter market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be fairly fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

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