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The global Sky Lanterns market size was valued at US$ 234.5 million in 2024 and is projected to reach US$ 312.4 million by 2030, at a CAGR of 4.9% during the forecast period 2024-2030.
The United States Sky Lanterns market size was valued at US$ 67.8 million in 2024 and is projected to US$ 87.9 million by 2030, at a CAGR of 4.4% during the forecast period 2024-2030.
Sky Lanterns are airborne paper lanterns powered by a small fuel cell, traditionally used in celebrations.
The global Sky Lanterns market is growing moderately, influenced by cultural celebrations and events. In 2023, total unit sales reached 120 million, with festival use accounting for 60% of demand. The wedding segment is growing at 5.5% annually. The market saw a 15% increase in demand for eco-friendly versions in 2023. Traditional designs dominate with an 80% market share, while biodegradable options are growing at 7% annually. Asia Pacific leads with a 55% market share, while Europe is the fastest-growing region at 5.2% CAGR. The industry is focusing on developing safety features, with a 18% growth in R&D investments.
Report Overview
Sky lanterns started in China, therefore, are sometimes called Chinese lanterns. They have been traditionally made of paper and candle on the interior. The newspaper casing is kept away in the candle flame and the warm air created by the fire causes the lantern to grow in the atmosphere.
This report provides a deep insight into the global Sky Lanterns market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Sky Lanterns Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Sky Lanterns market in any manner.
Global Sky Lanterns Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Market Segmentation (by Type)
Market Segmentation (by Application)
Geographic Segmentation