(MoneyNewsWire.Net, August 23, 2019 ) According to the latest report by IMARC Group, titled “Cigarette Lighter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global cigarette lighter market size reached US$ 6.2 Billion in 2018, growing at a CAGR of 2.7% during 2011-2018. Invented in 1823 by the German chemist, Johann Wolfgang, a lighter is a pocket-sized, flame-producing device, which is generally used for lighting cigarettes, pipes, cigars and other combustible materials. It consists of a plastic or metal container that is filled with pressurized liquid gas or a flammable fluid. Other than fuel, a lighter can also be powered through electricity, with the help of a heating element or electric arc.
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Global Cigarette Lighter Market Trends:
Over the past few years, the overall smoking rates have increased substantially on account of rising stress levels and hectic lifestyles, which has consequently boosted the demand for cigarette lighters. Besides, in numerous countries, cigarette lighters are considered an appropriate option for gifting, which has further presented manufacturers with opportunities to introduce a range of premium category product variants. Apart from this, market players are currently investing in R&D activities for the development of flameless pocket lighters and other advanced technologies that will help in offering more safety to consumers. Moreover, several initiatives are being taken across the globe that focus on spreading awareness regarding the adverse health effects of cigarette smoking and the environmental impacts of manufacturing and disposing of the butane, metal and plastic used in the production of cigarette lighters. Looking forward, the market is expected to reach a value of US$ 7.1 Billion by 2024, registering a CAGR of around 2.3% during 2019-2024.
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Market Breakup by Product Type:
The report has bifurcated the market according to the product type, which includes flint and electronic cigarette lighters. Currently, flint cigarette lighters are the most popular type of product.
Market Breakup by Material Type:
The market has been segmented on the basis of the material type, covering metal, plastic and others. At present, most cigarette lighters are made from plastic.
Market Breakup by Distribution Channel:
Based on distribution channels, the market has been segregated into tobacco shops, supermarkets and hypermarkets, convenience stores, online stores, and others. Amongst these, lighters are primarily distributed through tobacco stores.
Market Breakup by Key Regions:
On the geographical front, the market has been categorized into Asia Pacific, Eastern Europe, Western Europe, Middle East and Africa, North America, and Latin America. Asia Pacific represents the biggest market, accounting for the largest market share.
The competitive landscape of the market has also been examined with some of the key players being BIC Corporation, Cricket Lighters (Swedish Match Lighters BV), and CLIPPER (FLAMAGAS, SA).
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