USD 395.51 million
Report ID:
SQMIG30J2019 |
Region:
Global |
Published Date: July, 2024
Pages:
198
|Tables:
122
|Figures:
79
Global Hookah Tobacco Market size was valued at USD 395.51 million in 2022 and is poised to grow from USD 421.22 million in 2023 to USD 697.11 million by 2031, growing at a CAGR of 6.50% during the forecast period (2024-2031).
Growing hectic and stressful lifestyles have resulted in an increase in the number of both male and female smokers. People between the age of 18 and 30 fall under the category of the largest number of hookah tobacco users. Most of the time it is peer pressure that people adopt such habits, ultimately creating revenue generation opportunities for this market in the coming years.
North America holds the maximum share in the market due to an increase in percentage of female smokers. It also has the largest number of hookah manufacturers in the world.
Major players are investing heavily on R&D to introduce new products such as herbal tobacco into the market. Herbal tobacco is gaining popularity as the traditional tobacco causes lots of health issues. However, it can also be a restraining factor challenging growth of the hookah tobacco market.
US Hookah Tobacco Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 395.51 million
Largest Segment
Mint
Fastest Growth
Growth Rate
6.50% CAGR
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On the basis of flavor, the global hookah tobacco market is segmented into fruits, mint, chocolate, and others. On the basis of age group, Hookah Tobacco Market is segmented into Below 18 Years, 18 to 30 Years, 30 to 50 years, and Above 50 years. On the basis of distribution channel, Hookah Tobacco Market is segmented into bars and cafes, specialty stores, online, and others. On the basis of region, the Hookah Tobacco Market for hookah tobacco is segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America
Hookah Tobacco Market Analysis by Flavor
Based on classification by flavor, the mint segment holds the largest market share and is also expected to continue so in the forecast period. Most consumers prefer mint flavor in their tobacco due to its refreshing taste and cooling effect after consumption. Mint flavor contains methanol which interacts with receptors inside the mouth to produce a cold sensation. Growing stress due to hectic work has also been attributed to the usage of mint flavored hookah, thereby supporting its growth.
Hookah Tobacco Market Analysis by Age group
By age group, customers between the age group 18 and 30 have the largest market share due to the large number of smoking population. It is also due to social acceptability of hookah tobacco usage among college and university students which has escalated the incidents of peer influence on hookah initiation and use. According to a survey it is found that hookah tobacco is as addictive as cigarettes among youths. The curiosity among the younger generation to try new things is driving the market growth.
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North America holds the largest share across the globe and is expected to increase sales rate in coming years. Most of the products in this region are sold in bars and cafes. The USA holds the highest share in the region due to the existence of numerous hookah tobacco producers in the country. According to a report there is an increase of 20% of female smokers in the region.
The Asia-Pacific region is expected to increase in the coming years at a healthy rate. It is due to the increase in disposable income and higher involvement in leisure activities due to rapid urbanization and increase in workloads among individuals.
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Hookah Tobacco Market Driver
Growing Hectic and Stress Working Environment
Hookah Tobacco Market Restraint
Increased Awareness for Health Risk Associated with Tobacco
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Global hookah tobacco market is highly competitive due to the presence of a large number of local manufacturers across the globe. Large manufacturers are focusing on new product launches and partnerships with restaurants to secure their market share in this highly competitive market..
Hookah Tobacco Market Top Company Profiles
Hookah Tobacco Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global hookah tobacco market analysis, flavor-infused hookah tobacco is gaining popularity among the millennial population. The circulation of hookah tobacco through restaurants and cafes is developing a new culture among the younger generation. Leading manufacturers are focusing on launching new flavors to secure their market share. Rising cases of different types of diseases like cancer, heart diseases and lung cancer due to smoking tobacco will hamper the growth of the market.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 395.51 million |
Market size value in 2031 | USD 697.11 million |
Growth Rate | 6.50% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
Hookah Tobacco Market Recent Developments
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Hookah Tobacco Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hookah Tobacco Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hookah Tobacco Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hookah Tobacco Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG30J2019
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