USD 69.52 billion
Report ID:
SQMIG30J2022 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
92
|Figures:
77
Smoking Accessories Market size was valued at USD 72.35 Billion in 2023 and is poised to grow from USD 75.29 Billion in 2024 to USD 103.6 Billion by 2032, growing at a CAGR of 4.07% during the forecast period (2025-2032).
The market is anticipated to grow due to the rising trend of developing new and innovative products to draw in additional consumers and the rising number of smokers globally. A major factor that is anticipated to propel the market over the coming years is the rising preference of customers for home-made tobacco over products that are factory-made because they can be customized to their demands while also saving money.
The market for smoking accessories has been fueled by the growth of various flavors of tobacco for use in accessories and their rising appeal among smokers of all ages. Another element influencing the market is the availability of several tastes, including chocolate, fruit, menthol, and others, for use in vaporizers and water pipes, as well as their widespread use, strong demand, and popularity among young people. A major factor driving the demand for smoking accessories and promoting market growth is the rising use of smoking accessories like water pipes due to the belief that they are a healthier alternative to smoking cigarettes since they filter the smoke before absorption.
Due to their portability and ability for filtration, which allows devices to separate tar from herbs while being smoked, water pipes and vaporizers are highly used and in great demand, which is fostering market expansion. The market for smoking accessories will be further driven in the years to come by the rising usage of smoking accessories, which enhance the quality of herbs after burning and give the consumer a better smoking experience. In addition, rising demand for alternative medicinal herbs that are inhaled as a healthy practice is driving demand for the use of smoking accessories.
The demand for smoking accessories is increasing as a result of effective marketing initiatives run by different players. Over the projected period, market growth is anticipated to be constrained by the government's increasing number of efforts and strict laws regarding the use of tobacco and nicotine. Moreover, it is expected that rising consumer awareness of the availability of therapies for nicotine replacement and rising public awareness of the damaging effects of nicotine and tobacco on the body will restrain market growth. Yet, it is anticipated that the introduction and launch of numerous new and floor items in response to customer demand would offer substantial opportunities for market expansion.
US Smoking Accessories Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 69.52 billion
Largest Segment
Water Pipes
Fastest Growth
Vaporizers
Growth Rate
4.07% CAGR
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Smoking Accessories Market is segmented based on type, distribution channel, age group and region. Based on type the Smoking Accessories Market is segmented water pipes, vaporizers, rolling paper & cigarette tubes, lighters, filter & paper tip, others. Based on age group the Smoking Accessories Market is segmented into below 18 years, 18 To 30 years, 30 To 50 years, above 50 years. Based on distribution channels the market is segmented into offline and online. Based on region the Smoking Accessories Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Smoking Accessories Market Analysis by Type
The vaporizer category dominated the market for smoking accessories in 2021 with a market share of about 33.0%. Throughout the projection period, this market segment is expected to have the highest CAGR of 4.5%. The segment's dominance and expansion are due to the growing acceptance and usage of vaporizers as an enhanced alternative to products that produce smoke. They are versatile since they don't emit tar or dangerous compounds like carbon monoxide. Vaporizers have a wide range of settings and flavors to pick from, which are both increasing their use and assisting the segment's growth. Vaporizers are also cost-effective because they only require a one-time investment and may be used for a longer amount of time. As a result, their usage is growing, which helps to generate more money.
The market for filters and paper tips is expected to grow at the second-highest CAGR of 4.3% over the anticipated time frame. The expansion of this market is attributed to smokers' increased use of these filters to filter the smoke before inhalation and lessen consumption of hazardous elements like tar. Also, the availability of these filters in a range of flavors to appeal to a wider consumer base, together with the increasing launch of new, ecologically friendly filters by a number of producers, is expected to speed up the market's growth in the years to come. The increasing use of filters and paper tips, both of which improve the smoking experience, is also anticipated to support market rise.
Smoking Accessories Market Analysis by Distribution Channel
The offline segment led the market for smoking accessories in 2021, accounting for a revenue share of almost 75%. It's expected that the category will continue to rule in the years to come. The channel's wide consumer base helps to explain this. Furthermore, because these channels are available in busy regions, the intended audience can quickly reach them. Also, because offline stores can quickly supply the demand for these products and do so, a significant portion of customers choose to buy them from them. Some merchants also provide a substantial number of discounts, which adds to their popularity. As a result of the aforementioned factors, the segment accounts for a sizable portion.
In the market for smoking accessories from 2022 to 2030, the online sector is anticipated to grow at the fastest CAGR of 4.4%. The increased use of online shopping portals by consumers, particularly among the youthful population, and their rising popularity are credited with driving the segment's rise. Another reason propelling the segment's growth is the rise in the proportion of app-based merchants. Also, a variety of products are available through internet platforms. Also, these online channels offer a variety of discounts, promotions, and other features that make them very attractive and help drive the segment's growth.
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Asia Pacific, which had the highest revenue share of over 46.0% in 2021 and is predicted to grow at the fastest rate of 4.4% over the course of the forecast period, dominated the smoking accessory market. The rise of the regional market is influenced by the rising percentage of young smokers in the population as well as the increased use and adoption of smoking accessories as they pick up the habit to appear trendy. The incidence of smoking in the area is rising along with the population growth, which has prompted a rise in the usage of smoking accessories. Consumers in the area are embracing western lifestyles more frequently along with their rising disposable money, which is aiding in the market's growth.
The market for smoking accessories in North America is anticipated to expand significantly between 2022 and 2030. The market expansion in the region is attributed to the increased demand for make-your-own-tobacco cigarettes and joints, as well as the rising popularity of vaping and the declining demand for traditional tobacco products and cigarettes. Due to the rising popularity and use of nicotine products among women, students, and young people who require smoking accessories, the market in the region is growing. Also, the availability of cannabis that has been synthesized and reproduced increases demand for smoking equipment.
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Smoking Accessories Market Drivers
Increasing Cannabis Legalization to Bolster Market Growth
Smoking Accessories Market Restraints
Health Concerns to Hinder Market Growth
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The global players implementing product innovation strategies have established an extremely fragmented and competitive market for smoking accessories. To strengthen their position in the market, major companies are engaging in a variety of actions. These actions include strategies including strategic partnerships, acquisitions and mergers, the creation and introduction of new products, global expansion, and others.
Smoking Accessories Market Top Player’s Company Profiles
Smoking Accessories Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Smoking Accessories market is the market for smoking accessories that has been fueled by the growth of various flavors of tobacco for use in accessories and their rising appeal among smokers of all ages. Another element influencing the market is the availability of several tastes, including chocolate, fruit, menthol, and others, for use in vaporizers and water pipes, as well as their widespread use, strong demand, and popularity among young people. A major factor driving the demand for smoking accessories and promoting market growth is the rising use of smoking accessories like water pipes due to the belief that they are a healthier alternative to smoking cigarettes since they filter the smoke before absorption. The demand for smoking accessories is increasing as a result of effective marketing initiatives run by different players. Over the projected period, market growth is anticipated to be constrained by the government's increasing number of efforts and strict laws regarding the use of tobacco and nicotine. Moreover, it is expected that rising consumer awareness of the availability of therapies for nicotine replacement and rising public awareness of the damaging effects of nicotine and tobacco on the body will restrain market growth. Yet, it is anticipated that the introduction and launch of numerous new and floor items in response to customer demand would offer substantial opportunities for market expansion.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 72.35 Billion |
Market size value in 2032 | USD 103.6 Billion |
Growth Rate | 4.07% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
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 |
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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 Smoking Accessories 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 Smoking Accessories 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 Smoking Accessories Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smoking Accessories 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: SQMIG30J2022
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