PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1441955
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1441955
The global smoking accessories market is predicted to witness more than 7.1% CAGR from 2024 to 2032, owing to the increasing legalization and acceptance of cannabis in various regions worldwide. As regulatory barriers continue to ease, the stigma surrounding cannabis consumption diminishes, fostering a more mainstream acceptance of smoking as a recreational activity. Additionally, shifting societal attitudes towards smoking, coupled with an expanding consumer base seeking alternative leisure options, further propel market growth.
For instance, in October 2023, Custom Cones USA officially launched its inaugural direct-to-consumer brands, Smoke Temple, DaySavers, and Fill-a-Blunts. These newly introduced consumer brands are positioned as the epitome of compliance and reliability within the cannabis market, boasting rigorous testing processes to ensure product quality and safety.
Moreover, the growing trend of personalization and customization in smoking accessories, driven by evolving consumer preferences and lifestyle choices, is driving innovation within the industry.
The overall smoking accessories industry is classified based on product type, price, end-user, distribution channel, and region.
The lighters segment is anticipated to record strong demand through 2032. Consumers are increasingly gravitating towards innovative and stylish lighters that offer convenience and functionality. Technological advancements have led to the development of electric lighters, rechargeable lighters, and even smart lighters, catering to diverse consumer preferences. This segment is projected to experience substantial growth as manufacturers focus on product innovation and design to capture a larger market share.
The online distribution channel segment is anticipated to generate massive revenue by 2032 owing to its convenience. The wider range of products and competitive pricing has fueled the shift towards online channels among consumers. Additionally, the COVID-19 pandemic accelerated this transition, with more people opting for online purchases over offline channels. As a result, online retailers and marketplaces are witnessing increased traffic and sales in smoking accessories, further driving market growth.
Europe smoking accessories market size will expand significantly through 2032 attributed to the region' progressive stance on cannabis legalization, coupled with changing societal attitudes towards smoking. Countries such as Germany, the Netherlands, and Spain have emerged as prominent markets for smoking accessories, with a thriving culture of cannabis consumption and a growing demand for high-quality accessories. Moreover, stringent regulations regarding tobacco consumption have prompted consumers to explore alternative smoking methods, further boosting the market outlook.