Market Snapshot:
Fireworks will include all type of firecrackers which is specially designed to produce a large amount of noise and visual effect. Firecrackers are made from the explosive material like flash powder, cordite, smokeless powder and black powder hence are wrapped in a heavy paper casing. They are used while celebrating different occasions around the globe. All types of fireworks are subject to various laws in many countries even though considered as a traditional part of the celebration. Moreover, fireworks are banned in few countries due to numerous side effects like air pollution, soil pollution, and noise pollution which ultimately leads to many injuries and deaths. The global fireworks market was estimated to be around USD 3,371.8 million in 2019, according to the AMA study.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | North America |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Dragon Fireworks Incorporated (Philippines), Kaliswari Fireworks Private Limited (India), Zambelli Fireworks (United States), Ajanta Fireworks (India), Coronation Fireworks Factory (India), WECO Feuerwerk GmbH (Germany), Fireworks by Grucci (United States), Forward Fireworks Company Ltd (China), Illumination Fireworks, LLC (United States) and Jiangxi lidu Fireworks Group Co., Ltd. (China) |
CAGR | 2.23% |
Segment Analysis
AMA Research have segmented the market of Global Fireworks market by Type, Application and Region. On the basis of Type, Barrages are dominating the market in the year 2022 where as Rockets stood as second largest market share.
On the basis of geography, the market of Fireworks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Trend
Innovations such as More Creative and Colorful Fireworks
Market Drivers
Increasing Use of Fireworks for Almost Every Occasion Across the Globe and Growing Adoption of Fireworks from Sports Stadium
Opportunities
The Rising Adoption of Eco-Friendly Crackers in Developing Countries
Restraints
- Strict government regulations and policies against fireworks
- Reluctant nature of customers due to increasing awareness regarding pollution
In addition to the aforementioned factor, Increasing Use of Fireworks for Almost Every Occasion Across the Globe
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The market players are adopting many strategies so as to attract the audience and to gain highest market share, these strategies can be listed as product uniqueness, standout product line, offering attractive discounts, mergers with big organizations, alliances with different companies to increase sales area globally and others.
The key Vendors profiled in the study are Dragon Fireworks Incorporated (Philippines), Kaliswari Fireworks Private Limited (India), Zambelli Fireworks (United States), Ajanta Fireworks (India), Coronation Fireworks Factory (India), WECO Feuerwerk GmbH (Germany), Fireworks by Grucci (United States), Forward Fireworks Company Ltd (China), Illumination Fireworks, LLC (United States) and Jiangxi lidu Fireworks Group Co., Ltd. (China). A lot of United states and Chinese players are profiled in the research study indicating a strong market dependence.