Matches are a fire lighting tool. These are made from wooden material or stiff paper. On one end of the match stick, ignition material, which when struck against a suitable surface (normally present on a matchbox) ignites the fire. Matchsticks have a long history, which dates back to 1883 in Sweden. Match sticks were a sensation when they first entered the market, but the glorious time for match stick is slowly fading away. Matchsticks are packed in a matchbox and then sent to the market for distribution. Matches are used in households, commercial, and religious places. They can be used for lighting stove or to light a campfire, candles, incense sticks, camphor, and cigarettes.
Matchstick is not only used for the primary purpose that is lighting a fire but has also found alternative uses. For instance, it is widely used for various art and craft purposes or for making games such as puzzles. The matches market is expected to grow negatively during the forecast period owing to introduction of new alternatives.
COVID-19 Scenario Analysis:
COVID-19 has put a deep impact on the sales of matchsticks.
China has been the major producer of phosphate, which is used in manufacturing the matches, but due to the COVID-19 Pandemic, the supply chain has been disrupted and many countries have stopped importing from China.
Due to the lockdown situation prevailing in most countries of the world several religious places are also closed. These were the places where the demand for matchsticks was very high. But their closure means no sales.
Factories have started to lay off the workers, who worked in the manufacturing of matches.
Many countries do not count cigarettes as an essential item to be sold during the lockdown. This gives a hit to the matches market, as matches were a complementary good that people bought while purchasing cigarettes.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Matches are a convenient way to light a fire, they are feasible and very easy to handle. These are some factors that drive the growth of the matches market. Especially, smokers, who need to light their cigarette, again and again, found this product very handy and useful. Even in rural areas where technology has not reached, matchsticks are used for various purposes that need lighting up of fire. In Religious places, where people go to worship, like temples, mosques, churches, matches are used on a large scale to light up candles, and incense sticks. Therefore, religious places have always been one of the leading markets for the matches industry.
However, innovation and the introduction of more fire-lighting tools have restrained the growth of the matches market. Many alternatives have started to come up in the market like lighter and people have started giving preferences to these alternatives. As the consumer of today's world has become more tech-friendly they prefer using the latest products prevailing in the market. An increase in disposable income, high living standards, and urbanization are a few other reasons that slow down the demand for matches. For the consumers who smoke, matches were a complementary product while purchasing cigarettes. But now they have adapted to lighter as lighting it is more convenient than lighting a matchstick. Gas lighter is another product that is used to light stoves in place of matches now. All these reasons have accounted for an enormous decline in the matches market.
While on the other hand, the demand for innovative items such as lighters experience an increase because of various factors like technological advancement, high standard of living, and many others.
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Key Benefits of the Report:
This study presents the analytical depiction of the global matches industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global matches market share.
The current market is quantitatively analyzed to highlight the global matches market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global matches market analysis based on competitive intensity and how the competition will take shape in the coming years.
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Questions Answered in the Matches Market Research Report:
What are the leading market players active in the matches market?
What the current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What future projections would help in taking further strategic steps?
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