Singapore Christmas Lights and Christmas Decorations Market (2021-2027) | Value, Analysis, Companies, Share, Forecast, Industry, COVID-19 IMPACT, Growth, Trends, Size, Revenue & Outlook

Singapore Christmas Lights and Christmas Decorations Market Synopsis

The Singapore Christmas Lights and Decorations market is projected to grow at a CAGR of 8.3% during the forecast period 2021-2027. The country???s growing disposable income, increasing demand for festive decorations, and presence of large number of organized retail outlets are driving the growth in this segment. However, high prices associated with decorative lights & accessories may restrain the demand over long term. The COVID-19 pandemic has also affected consumer spending on festivals like Christmas thereby affecting overall sales in this category negatively in 2020 but is expected to see a recovery from 2021 onwards as people adapt to the new normal.

Market Drivers

Growing Disposable Income: Increasing disposable incomes among individuals and households will increase their spending power leading to an increase in demand for premium quality products such as Christmas decorations which are generally expensive especially when imported or made of superior materials such as brass or copper instead of plastic or polymers.Rising Demand For Festive Decorations: With rising incomes, more consumers have started celebrating major occasions likeChristmas by decorating their homes with colorful lights and fancy decorations that add to the festive spirit and create a unique atmosphere which encourages them to spend more time at home socializing with family members than going out visiting friends or relatives who live far away due mainly due to travel restrictions associated with Covid 19 pandemic induced lockdowns

Market challenges

High Prices Associated With Decorative Lights & Accessories: The decorative lighting industry is dominated by international players who often charge exorbitant prices for LED lights resulting into higher costs incurred by local distributors making it difficult for them become competitive while meeting consumer expectations regarding product quality without compromising on profit margins drastically reducing potential size of domestic market.

Key players

Some key players operating in Singapore Christams Light And Chrismas Decoration Market include National Tree Company ; AtmosFX LLC ; Philips Lighting Holding BV; Koninklijke Philips N V ; General Foam Plastics Corporation Ltd.; Kurt Adler Inc.; Darice; Target Brands Inc.; LumaBase.

Covid-19 Impact

The Covid 19 pandemic led economic slowdown has had wide ranging impacts across industries including those related ornamental lighting sector resulting into decline in sales volumes throughout year 2020 when compared against prior year 2019 even though prices remained largely stable.This was mainly attributed lower discretionary household expenditure towards non essential items such as festival based decorative lighting owing primarily due increased financial prudence amongst customers coupled reduced availability physical stores leading impact online retailers too.Additionally, current global situation has resulted delays shipments supplies from foreign suppliers further impacting sales prospects short run until conditions stabilize enough permit operation business usual basis again.

Key Highlights of the Report:

• Singapore Christmas Lights and Christmas Decorations Market Outlook
• Market Size of Singapore Christmas Lights and Christmas Decorations Market, 2020
• Forecast of Singapore Christmas Lights and Christmas Decorations Market, 2027
• Historical Data and Forecast of Singapore Christmas Lights and Christmas Decorations Revenues & Volume for the Period 2023 - 2027
• Singapore Christmas Lights and Christmas Decorations Market Trend Evolution
• Singapore Christmas Lights and Christmas Decorations Market Drivers and Challenges
• Singapore Christmas Lights and Christmas Decorations Price Trends
• Singapore Christmas Lights and Christmas Decorations Porter's Five Forces
• Singapore Christmas Lights and Christmas Decorations Industry Life Cycle
• Historical Data and Forecast of Singapore Christmas Lights and Christmas Decorations Market Revenues & Volume By Type for the Period 2023 - 2027
• Historical Data and Forecast of Singapore Christmas Lights and Christmas Decorations Market Revenues & Volume By Artificial Christmas Tree for the Period 2023 - 2027
• Historical Data and Forecast of Singapore Christmas Lights and Christmas Decorations Market Revenues & Volume By Christmas Lighting for the Period 2023 - 2027
• Historical Data and Forecast of Singapore Christmas Lights and Christmas Decorations Market Revenues & Volume By Christmas Decorations for the Period 2023 - 2027
• Historical Data and Forecast of Singapore Christmas Lights and Christmas Decorations Market Revenues & Volume By Applications for the Period 2023 - 2027
• Historical Data and Forecast of Singapore Christmas Lights and Christmas Decorations Market Revenues & Volume By Residential for the Period 2023 - 2027
• Historical Data and Forecast of Singapore Christmas Lights and Christmas Decorations Market Revenues & Volume By Commercial for the Period 2023 - 2027
• Singapore Christmas Lights and Christmas Decorations Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Applications
• Singapore Christmas Lights and Christmas Decorations Top Companies Market Share
• Singapore Christmas Lights and Christmas Decorations Competitive Benchmarking By Technical and Operational Parameters
• Singapore Christmas Lights and Christmas Decorations Company Profiles
• Singapore Christmas Lights and Christmas Decorations Key Strategic Recommendations