(MENAFN- EIN Presswire) Hookah Tobacco Market
The hookah tobacco market size is expected to reach $1,696.4 million by 2030, registering a CAGR of 6.5% from 2021 to 2030.
Hookah Tobacco gaining popularity because of the emerging culture of theme-based café and the growing inclination of consumers toward its flavored consumption.” - Allied Market Research PORTLAND, OREGON, UNITED STATES, August 1, 2023/einpresswire.com / -- According to a new report published by Allied Market Research, titled,“hookah tobacco market by Flavor, Distribution channel and Age Group: Global Opportunity Analysis and Industry Forecast, 2021-2030,”
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The players operating in the hookah tobacco industry have adopted product launch and business expansion as their key developmental strategies to expand their market, increase profitability, and remain competitive in the market. The key players profiled 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 Flavoured Tobacco & Molasses Co. LLC and Social Smoke, Inc.
The crisis of COVID-19 threatens the hookah tobacco industry. Sales in the first quarter were disappointing and some establishments had to shut their businesses. Although many businesses saw a decline in consumer demand as a result of the COVID19 crisis, the tobacco market is likely to emerge undaunted and develop significantly. With the stringent COVID-19 implications by the government, barred the gathering of consumers in public, the consumption of hookah tobacco at bars, restaurants, and cafes had declined due to the temporary closure of operation. The decreased sale has led to a decline in revenue for the industry.
According to the hookah tobacco market analysis, the market segmented into flavor, distribution channel, age group and region. On the basis of flavor, the market is categorized into fruits, mint, chocolate and others. On the basis of distribution channel, the market is segmented into, bars and cafes, specialty stores, online and others. By age group, market is categorized into, below 18 years, 18 to 30 years, 30 to 50 years and above 50 years. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Switzerland and 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).
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According to the hookah tobacco market forecast, on the basis of flavor, chocolate segment accounted for around 15.4% market share in 2020, with and is expected to grow at CAGR of 6.8% during the forecast period. Chocolate has a unique flavor, the taste of chocolate releases dopamine, a feel-good neurotransmitter, into particular regions of the brain: the frontal lobe and hypothalamus. Dopamine is a stress buster with the consumption of chocolate-flavored hookah the consumers feel relaxing and their stress gets lowered.
On the basis of age group, 30 to 50 years segment accounted for around 27.3% market share in 2020, with and is expected to grow at CAGR of 6.3% during the forecast period. Consumers aged between 30-50 find hookah as their stress buster after a long day's work. Hookah provides a sense of calmness along with leisureliness. It provides an opportunity to socialize with their peers and spend quality time. Thus, above mentioned factors contribute toward the growth of the hookah tobacco market during the forecast period.
According to the hookah tobacco market opportunities, region wise, Europe hookah tobacco market is expected to witness significant growth at a CAGR of 5.9% during the forecast period. The growing popularity of smoking alternatives has resulted in the introduction of unique tobacco products with distinct flavor profiles as witnessed throughout 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 consistent demand for hookah tobacco products are the major factors driving the Europe hookah tobacco market growth.
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Key Findings Of The Study
The hookah tobacco market size was valued at $824.8 million in 2020, and is estimated to reach $1,696.4 million by 2030, registering a CAGR of 6.5% from 2021 to 2030.
By flavor, the fruits segment is estimated to witness the significant growth, registering a CAGR of 7.4% during the forecast period.
In 2020, depending on distribution channel, the online segment was valued at $87.8 million, accounting for 10.6% of the global hookah tobacco market share.
By age group, the above 50 year segment is estimated to witness the significant growth, registering a CAGR of 6.7% during the forecast period.
In 2020, the China was the most prominent market in Asia Pacific, and is projected to reach $219.9 million by 2030, growing at a CAGR of 6.0% during the forecast period.
David Correa
Allied Analytics LLP
1 800-792-5285
email us here
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Hookah Tobacco Market is Predicted to Attain $1,696.4 Mn by 2030 | Japan Tobacco, Alzawrae Industrial Comp, Metco, etc News Provided By allied analytics llp August 01, 2023, 13:00 GMT Share This Article Distribution channels: agriculture, farming & forestry industry , culture, society & lifestyle
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