Region : Global | Format: PDF | Report ID: BRI102978 | SKU ID: 21830629
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The global tobacco and hookah market size was USD 2680.68 million in 2021 and is expected to reach USD 8574.04 million in 2031, exhibiting a CAGR of 12.33% during the forecast period.
Shisha tobacco is a concoction of tobacco, water, glycerin, flavorings, and aromatics that is smoked using a hookah device. The majority of people smoke this flavorful and aromatic tobacco because it has calming properties. Due to the product's widespread usage and variety of flavor options, the market is anticipated to experience tobacco and hookah market growth during the forecast period. In many parts of the world, shisha is also known as water pipe tobacco, argileh, maassel, hookah, or narghile. It is enjoyed for its calming and stimulating effects. The molasses-syrupy shisha tobacco, which comes in a variety of flavors, is smoked using a hookah or water pipe.
The global COVID-19 pandemic has been unprecedented and staggering, with tobacco and hookah experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The tobacco and hookah market are in danger due to the COVID-19 situation. The first quarter's sales were underwhelming, and some businesses were forced to close. The COVID19 issue caused consumer demand for many firms to fall, but the tobacco market is anticipated to rebound unfazed and grow greatly. The pandemic outbreak has had a negative impact on the world hookah tobacco market. One of the major threats to the general public's health is using tobacco and hookah. Corona is a virus that primarily affects the lungs. Therefore, smoking is more dangerous than ever during this pandemic. Smoking is linked to worse outcomes and a worsening of COVID-19.
"Online Retail to Advance Market Share"
The rise of the tobacco and hookah market is being fueled by the expanding trend of online shopping. Global e-commerce expansion has created a huge opportunity for sellers to increase their profitability. Globally, both the average amount of money spent online each transaction and the volume of online transactions are increasing. This retail channel is expanding due to factors including the growing number of Internet users and their propensity to make immediate purchases.
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Based on type, the market is subdivided into Fruit Flavor, Mixed Flavor, and Herbal Flavor.
Based on the applications, the market is subdivided into Offline Sales and Online Sales.
"R&D Activities to Amplify Market Share"
The tobacco and hookah market are expanding due to a number of causes, including the quick increase in health consciousness and investments made by tobacco product producers in the R&D of numerous low-risk tobacco products. These companies have thus been able to keep their revenues while also growing their current consumer base. Additionally, as per capita income has increased, market players have had more options to increase product prices and switch to premium goods. It is ingested because it has mental calming and energizing properties. In addition, more men and women are smoking as a result of our increasingly hurried and stressful lifestyles. To attract more female customers, smoke product producers have also been releasing goods with feminine labels. Tobacco and hookah with added flavors have been increasingly popular among the millennial population.
"New Product Development to Foster Market Share"
The growth of the hookah tobacco market is particularly being driven by the increased introduction of new products. Since the last ten years, the market's growth has been accelerated by the introduction of novel and creative items. Vendors have been prompted to introduce novel goods to broaden their consumer base by the rising demand for hookah tobacco products in a number of nations. Next-generation heated tobacco device Ploom X was introduced by Japan Tobacco Inc. in August 2021. Similar to this, Fumari introduced a contemporary line of hookahs made of premium stainless steel in 2021.
"Health Risk to Restrain Market Growth"
The market for shisha tobacco will face challenges as a result of growing public knowledge of the health risks associated with cigarette use. Rising rates of various cancers and heart failure may further slow the market's expansion for tobacco and hookah. Rigid laws in developing nations will also slow the expansion of the market as a whole.
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"Expansion of Premium Car Categories to Foster Growth in North America"
North America is anticipated to have the largest tobacco and hookah market share. The distribution channel for bars and cafes gained a significant position in the global industry and is anticipated to maintain its share during the projection period, making North America an important market. The U.S. has the bulk of the industry share in North America. Growing consumer participation in leisure activities, increased entertainment spending, and rising disposable income are key drivers of the hookah tobacco market's revenue growth through the bar and café segment.
East Asia is predicted to have the greatest CAGR for tobacco sales, with China accounting for the majority of the region's sales because of its well-developed tourism industry, which attracts many visitors each year. The market is anticipated to be heavily impacted by cafes and restaurants. Furthermore, strict regulations in China forbid smoking in public places, which would boost sales of shisha equipment for both home and commercial purposes and cafe, bar, and restaurant shisha tobacco industries.
"Prominent Players Contributing in the Market Growth"
The report covers the information on the advancement outlooks with new inventions and SWOT analysis. The competitive landscape including market share of major players, along with the new research methodologies and strategies adopted by players for the forecasted period is listed in the report.
The report examines elements affecting the demand and supply sides and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, and future trends. After evaluating governmental, financial, and technical market factors, the report provides exhaustive PEST and SWOT analysis for regions. The research is subject to alteration if the key players and probable analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.
The global tobacco and hookah market is expected to touch USD 8574.04 million by 2031.
The tobacco and hookah market is expected to exhibit a CAGR of 12.33% by 2031.
R&D activities and new product development are the driving factors of the tobacco and hookah market.
R.J. Reynolds Tobacco Company, Japan Tobacco, British American Tobacco, Imperial Tobacco, AL Fakher, Fumari, Altria are the companies operating in the tobacco and hookah market.
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