|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 2600 million||USD 3600 million||4.5%||2022|
The global fireworks market size was worth around USD 2600 million in 2022 and is predicted to grow to around USD 3600 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.5% between 2023 and 2030.
A class of low-explosive pyrotechnic devices used for amusement and aesthetics are fireworks. They are most frequently utilized in pyrotechnics, or fireworks shows, which combine several devices in an outside environment. Many religious and cultural festivals center around these displays, however, improper handling might result in fireworks accidents. The four main impacts of fireworks are noise, light, smoke, and floating products. Fireworks can take many different shapes. They might be made to burn with sparks and flames that are colored silver, blue, purple, orange, yellow, green, and red. They are often categorized as "ground" or "aerial" depending on where they act. Aerial pyrotechnics can be launched into the air by a mortar (aerial shell) or can move independently (skyrocket).
Growing consumer desire for quiet fireworks drives market growth
One of the main factors propelling the global fireworks market revenue development is the growing desire for quiet fireworks among c
ireworks display is matched in intensity by a ground-based fire show. Silent fireworks are preferred to traditional noisy ones since they don't frighten pets or make people with PTSD or other mental health conditions feel anxious. Additionally, the market's revenue growth is being driven by an increase in demand for green crackers like Safe Minimal Aluminum (SAFAL), Safe Water Releaser (SWAS), and Safe Thermite Cracker (STAR). With its special capacity to release water vapor and air, Safe Water Releaser may be used as a diluent for gaseous emissions and as a dust suppressor. By eliminating the use of KNO3 potassium nitrate and sulfur, SWAS crackers reduce particulate matter by 30% to 35% in terms of SO2 and NOx. Its low sound level—between 105 and 110 dBA—when compared to commercial crackers is fueling the market's revenue growth.
Harmful effect on the environment and human health impedes market growth
Firecrackers produce more dust and other impurities to be present in the air. When chemicals and toxic gasses in crackers come into contact with air, they react and start to hurt, which in turn limits the increase of the fireworks industry revenue. After a fire, minute dust particles land on adjacent surfaces that are coated in substances including copper, zinc, sodium, lead, magnesium, sulfur, and nitrogen oxides, among other contaminants. The environment is impacted by these hazardous particles, which in turn affects human health. Smoke pollution causes chest and throat congestion, making people already sick from colds or allergies much sicker. Air and noise pollution from firecrackers is particularly harmful to people with heart, lung, and nervous system disorders. When crackers break, radioactive and poisonous materials are used to create colors, and when individuals pollute the air, their risk of contracting cancer increases. Growth in market revenue is severely hampered by all of the aforementioned issues.
Technological advancement and growing tourism offer a lucrative opportunity for market growth
Innovations in fireworks technology, including safer and more visually impressive products, stimulate the fireworks market growth. Advancements in design, color combinations, and sound effects can attract consumers looking for unique and exciting displays. In addition, the market for fireworks is heavily influenced by tourism. Destinations with frequent fireworks displays draw tourists and increase revenue. Fireworks are a common way for iconic places like Disneyland and other city centers throughout the world to improve the visitor experience. Thus, this is expected to offer a lucrative opportunity for market growth over the forecast period.
Availability of substitutes poses a major challenge for the market growth
Safety concerns have led to extensive regulation of the fireworks business. Strict safety regulations must be followed by producers and retailers to avoid injuries and accidents. It might be difficult for small and local merchants to comply with safety rules. Thus, posing a major challenge for the market growth during the forecast period.
The global Fireworks industry is segmented based on the type, application, and region.
Based on the type, the global market is bifurcated into Category A, Category B, Category C, and Category D. The Category C segment is expected to dominate the market over the forecast period. Consumer fireworks, usually known as Category C, are any small fireworks designed to produce visual or auditory effects by burning. Fireworks approved by the US Consumer Product Safety Commission (CPSC) are limited to those that are mechanically incapable of exploding, have a composition of no more than 500 grams, and do not contain aerial bursts containing more than 130 milligrams of flash powder. If a consumer fireworks product is not approved by the CPSC, it cannot be classified. This market category is responsible for the rise in revenue since it includes small devices including whistling devices, ground devices containing 50 mg or less of explosive material, and aerial devices containing 130 mg or less of explosive material.
Based on the application, the fireworks industry is bifurcated into Government, Commercial, Individual, and Others. The government segment is expected to grow significantly over the projected period. Regulations governing the manufacture, distribution, and usage of pyrotechnics are usually set by governments. For legal operations, licenses and permissions are frequently needed by producers, importers, and dealers of pyrotechnics. These licenses guarantee that companies follow requirements for quality and safety. Additionally, government organizations that establish safety rules for pyrotechnics include the Consumer Product Safety Commission (CPSC) in the US. They test and check pyrotechnics to make sure they adhere to safety standards, which lowers the possibility of mishaps and injuries. Thus, driving the market growth during the forecast period.
|Report Attributes||Report Details|
|Report Name||Fireworks Market|
|Market Size in 2022||USD 2600 Million|
|Market Forecast in 2030||USD 3600 Million|
|Growth Rate||CAGR of 4.5%|
|Number of Pages||203|
|Key Companies Covered||Brocks Fireworks, Fireworks by Grucci, Fantastic Fireworks, Dominion Fireworks Inc., Star Fireworks, Pyro Spectaculars by Souza, Standard Fireworks (p) Ltd., Dancing Fireworks Group Co., Black Bull Fireworks, Ajanta Fireworks Industries Sivakasi, and others.|
|Segments Covered||By Type, By Application, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Asia Pacific is expected to dominate the market over the forecast period
Asia Pacific is expected to dominate the global fireworks market during the forecast period since China and India generate the most fireworks, and this region's market is growing in terms of income. Fireworks are used to celebrate holidays like Diwali and the New Year since they brighten the night sky and are a must for any celebration, which in turn contributes to the market's revenue development. Growing consumer desire for green firecrackers, which emit less pollutants into the air than traditional firecrackers, is another reason propelling market revenue development. Research indicates that in 2020, China bought fireworks worth USD 28.6 million, while China exported fireworks worth USD 804.6 million worldwide.
Besides, North America is expected to capture a significant market share during the forecast period. One major element contributing to the market revenue growth of this area to some extent is the growing need for fireworks during different holidays, including Christmas, the Fourth of July, and others, as well as the growing desire for green firecrackers among consumers. Developed by the CSIR lab National Environmental and Engineering Research Institute (NEERI), green crackers include flowerpots, pencils, explosives, maroons, and chakkars. Research indicates that the United States ranked as the leading importer of fireworks in 2020, with a value of USD 26.9 million. This is fueling the expansion of the region's market revenue.
The global Fireworks market is dominated by players like;
A class of low-explosive pyrotechnic devices used for amusement and aesthetics are fireworks. They are most frequently utilized in pyrotechnics, or fireworks shows, which combine several devices in an outside environment. Many religious and cultural festivals center around these displays, however, improper handling might result in fireworks accidents. The four main impacts of fireworks are noise, light, smoke, and floating products. Fireworks can take many different shapes. They might be made to burn with sparks and flames that are colored silver, blue, purple, orange, yellow, green, and red.
Growth in fireworks market revenue is being driven by an increasing number of consumers who choose to purchase crackers online since they may choose from a wider variety of pyrotechnics. Additionally, a large variety of fireworks are accessible online that aren't found in stores, along with alluring combo packages and discounts, which propels market revenue development.
According to the report, the global fireworks market size was worth around USD 2600 million in 2022 and is predicted to grow to around USD 3600 million by 2030.
The global Fireworks market is expected to grow at a CAGR of 4.5% during the forecast period.
The global Fireworks market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market due to the growing demand for various occasions and festivals.
The global Fireworks market is dominated by players like Brocks Fireworks, Fireworks by Grucci, Fantastic Fireworks, Dominion Fireworks, Inc., Star Fireworks, Pyro Spectaculars by Souza, Standard Fireworks (p) Ltd., Dancing Fireworks Group Co., Black Bull Fireworks and Ajanta Fireworks Industries Sivakasi among others.
The Fireworks market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.