Several factors are driving the Hookah Tobacco market growth such as: B. the rapid rise in health awareness, tobacco product manufacturers have invested in research and development.
PORTLAND, OR, UNITED STATES, Sept. 17, 2022 /EINPresswire.com/ — Hookah Tobacco Market by Flavor, Distribution Channel and Age Group: Global Opportunity Analysis and Industry Forecast, 2021-2030,”
Hookah tobacco market size is projected to reach US$1,696.4 million by 2030, growing at a CAGR of 6.5% from 2021-2030.
Hookah tobacco is tobacco smoked with a hookah or hookah. It is also known as Maassel, hookah tobacco, Argileh or Nargileh. They come in different flavors like mint, apple, cherry, coconut, chocolate, cappuccino, liquorice and watermelon. Hookah tobacco is a syrupy type of tobacco in molasses used by a pipe or hookah and is available in numerous ways. Hookah tobacco is commonly consumed for its relaxing and energizing effects. It is gaining popularity due to the emerging culture of themed cafes and the growing consumer inclination towards its flavored consumption.
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The crisis of COVID-19 threatens the hookah tobacco industry. First quarter sales were disappointing and some businesses had to close their stores. Although many companies have seen a drop in consumer demand as a result of the COVID19 crisis, the tobacco market is expected to emerge unfazed and develop significantly. With the government’s strict COVID-19 restrictions banning consumer gatherings in public, consumption of hookah tobacco in bars, restaurants and cafes had declined due to the temporary closure of operations. The lower sale has resulted in a drop in revenue for the industry.
According to the Hookah Tobacco market analysis, the market is segmented into Flavor, Distribution Channel, Age Group, and Region. On the basis of taste, the market is categorized into Fruit, Mint, Chocolate and Other. On the basis of distribution channel, the market is segmented into Bars & Cafes, Specialty Stores, Online, and Others. According to age groups, the market is divided into under 18 years old, 18 to 30 years old, 30 to 50 years old and over 50 years old. In terms of regions, it is distributed in North America (US, Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Switzerland, and the rest of Europe), Asia Pacific (China, Japan, India, Australia, and Rest of Asia Pacific) and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa and Rest of LAMEA).
According to the Hookah Tobacco Market Forecast, based on flavor, the chocolate segment accounted for a market share of around 15.4% in 2020 with a CAGR of 6.8% and is expected to grow during the forecast period. Chocolate has a unique taste, the taste of chocolate releases dopamine, a feel-good neurotransmitter, in certain regions of the brain: the frontal lobe and the hypothalamus. Dopamine is a stress killer. When consuming chocolate flavored hookahs, consumers feel relaxed and their stress is reduced.
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According to Hookah Tobacco market trends, on the basis of distribution channel, Bars and Cafes segment accounted for around 25.6% market share in 2020, with a CAGR of 6.0% and expected growth over the forecast period. Café has become an integral part of a consumer’s life. It is a place where consumers gather for social and business occasions. The main reason for this popularity is the relaxed and open atmosphere and casual feel. The availability of hookahs in bars and cafes has opened a new door of opportunity for consumers, especially the youth who find it appealing. Other additional services like availability to make it a hotspot for consumers to socialize and work while enjoying their hookahs.
On the basis of age group, the 30-50 year olds segment accounted for around 27.3% market share in 2020 with a CAGR of 6.3% and is expected to grow during the forecast period. Consumers between the ages of 30 and 50 see shisha as their stress killer after a long day at work. Hookah conveys a sense of calm along with leisure. It offers the opportunity to exchange ideas with peers and to spend valuable time. Thus, the above factors contribute to the growth of the hookah tobacco market during the forecast period.
According to regional hookah market opportunities, the European hookah tobacco market is expected to grow significantly at a CAGR of 5.9% during the forecast period. The growing popularity of smoking alternatives has led to the introduction of unique tobacco products with different flavor profiles, as seen across Europe. As a result, manufacturers intend to launch premium hookah tobacco products containing flue-cured tobacco and fine whole leaf. The growing prevalence of smoking and the steady demand for hookah tobacco products are the main factors driving the growth of the European hookah tobacco market.
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The players engaged in the hookah tobacco industry have adopted product launch and business expansion as their key development strategies to expand their market, increase profitability and stay competitive in the market. Major players featured in this report include Japan Tobacco, Inc., Alzawrae Industrial Company, Metco Ltd, Al Fakher Tobacco Trading LLC, Cloud Tobacco, Inc., Mujeebsons, Fumari, Inc., Haze Tobacco, LLC, Al Andalus Flavored Tobacco & Molasses Co. LLC and Social Smoke, Inc.
Key Findings of the Study
The market size for hookah tobacco was estimated at US$824.8 million in 2020 and is projected to reach US$1,696.4 million by 2030, growing at a CAGR of 6.5% from 2021-2030.
After flavor, it is estimated that the fruit segment will witness the significant growth, registering a CAGR of 7.4% over the forecast period.
In 2020, the online segment was valued at US$87.8 million by distribution channel, accounting for 10.6% of the global hookah tobacco market share.
By age group, it is estimated that the 50+ segment will witness the significant growth, registering a CAGR of 6.7% over the forecast period.
In 2020, China was the top market in Asia Pacific and is expected to reach US$219.9 million by 2030, growing at a CAGR of 6.0% during the forecast period.
The global alcoholic beverages market is expected to reach US$1,684 billion by 2025
The global craft beer market is expected to reach US$186,590 million by 2025
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