Fireworks Market Trend, Share, Growth, Size and Forecast 2030

Fireworks Industry Prospective:

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.

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Fireworks Market: Overview

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).

Key Insights

• As per the analysis shared by our research analyst, the global Fireworks market is estimated to grow annually at a CAGR of around 4.5% over the forecast period (2023-2030).
• In terms of revenue, the global Fireworks market size was valued at around USD 2600 million in 2022 and is projected to reach USD 3600 million, by 2030.
• The growing demand for fireworks at weddings and festivals is expected to propel the fireworks market growth.
• Based on the type, the Category C segment is expected to dominate the market over the forecast period.
• Based on the application, the government segment is expected to grow significantly over the projected period.
• Based on region, the Asia Pacific is expected to dominate the market over the forecast period.

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Fireworks Market: Growth Drivers

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.

Fireworks Market: Restraints

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.

Fireworks Market: Opportunities

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.

Fireworks Market: Challenges

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.

Fireworks Market: Segmentation

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.

Fireworks Market: Report Scope

Fireworks Market: Regional Analysis

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.

Fireworks Market: Competitive Analysis

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
• Ajanta Fireworks Industries Sivakasi

The global Fireworks market is segmented as follows:

By Type

• Category A
• Category B
• Category C
• Category D

By Application

• Government
• Commercial
• Individual
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa