Demand for Glow Sticks to Rise Rapidly from Sea Divers, Says Fact.MR

“Asia Pacific is the largest consumer of glow sticks with growing demand from various end-use verticals, especially for recreational and entertainment purposes,” says a Fact.MR analyst.

/EIN News/ -- United States, Rockville MD, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Based on Fact.MR’s latest released report on glow sticks, the global market is anticipated to be worth US$ 134.8 million in 2022 and progress at a CAGR of 3.4% through 2032.

Demand for glow sticks is set to reach US$ 189.2 million by the end of 2032.

Glow sticks are witnessing high demand across end-use industries. These glow sticks offer an effective solution for light needs. Glow sticks are widely used for decorative purposes and lighting effects as well. They are used on giant wheels in fairs and attached to bicycles for lighting and safety purposes. Different-sized glow sticks and customized ones have a wide range of end-use applications.

Reusable glowing sticks are seeing demand growth potential in the fragmented and highly competitive glow stick market. Major market players are investing in R&D to develop long-lasting reusable glowing sticks for emergency purposes.

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Key Takeaways from Market Study

• By product, chemiluminescent glow sticks hold the largest market share of 76.6% in 2022.
• By usability, disposable glow sticks are projected to account for 81.2% market share by 2032.
• Among the buyer types, individual/recreational buyers/hobbyists is dominate with a market share of 64.3%.
• North America accounts for 32.3% share of the global glow stick market.
• The markets in East Asia and South Asia & Oceania are expected to rise at 4.5% and 3.9% CAGRS, respectively, during the forecast years of 2022-2032.
  
  

Market Development

The strategy for participants in the glow stick market has been to focus on bulk production to gain optimum profits.

To deliver innovative sticks that are suited to the unique needs of end users and are sustainable, manufacturers should focus on technology. Additionally, manufacturers of glow sticks should continue to prioritize working with end users, as this will help them understand consumer needs and enable them to create solutions that are tailored to specific applications and markets across the world.

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Competition Landscape

LUMICA USA, INC., CG Novelties, LLC, China Bessen Glow Technology Ltd., CYALUME TECHNOLOGIES, Everlit Global Inc., Happyglow Co., Northern Light Sticks, Inc., Nyoka Design Labs, PREMIER GLOW., Shanghai Wellglow Co., Ltd, The Glow Company UK Ltd, The Glow Store, Inc., UV Paqlite, Zhejiang guangyuan toys Co., Ltd, and Zibo Dexing Industries Co., Ltd. are leading manufacturers in the glow stick market.

To enhance their portfolios in the fragmented and highly competitive market, market players are adopting innovative product launches as a key growth strategy. In addition, business expansion is also a preferred strategy for market players to enhance their global market position by increasing distributor networks, adopting online sales channels, and capacity expansion.

Fact.MR has given in-depth information about the various strategies used by players in the glow stick market, along with detailed sales analysis of glow sticks, top glow stick manufacturers, SWOT analysis, and sales generated from target glow stick manufacturers positioned across geographies.

Segmentation of Glow Stick Industry Research

• By Product :
  • Chemiluminescent Glow Sticks
  • Bioluminescent Glow Sticks
• By Size :
  • Less than 2 Inches
  • 2.1 - 5 Inches
  • 5.1 - 12 Inches
  • More than 12 Inches
• By Usability :
  • Disposable Glow Sticks
  • Reusable Glow Sticks
• By Buyer Type :
  • Individual / Recreational Buyers / Hobbyists
    • Campers
    • Sea Divers
    • Other Individual Buyers
  • Commercial & Institutional
    • Industrial
    • Rescue Services
    • Defense
• By Sales Channel :
  • Offline Sales Channels
    • Modern Trade
    • Toy Stores
    • Camping Equipment Stores
    • Party Props Stores
    • Safety Equipment stores
    • Other Offline Stores
  • Online Sales Channels
    • Company Websites
    • E-Commerce Platforms
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South-East Asia & Oceania
  • Middle East & Africa

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More Valuable Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the glow stick market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on the product (chemiluminescent glow sticks, bioluminescent glow sticks), size (less than 2 inches, 2.1 - 5 inches, 5.1 - 12 inches, more than 12 inches), usability (disposable, reusable), buyer type (individual/recreational buyers/hobbyists (campers, sea divers, other individual buyers), commercial & institutional (industrial, rescue services, defense), and sales channel (offline sales channels (modern trade, toy stores, camping equipment stores, party props stores, safety equipment stores, other offline stores) and online sales channels (company websites, e-Commerce platforms), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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