PUBLISHER: SkyQuest | PRODUCT CODE: 1321802
PUBLISHER: SkyQuest | PRODUCT CODE: 1321802
Hookah Tobacco Market size was valued at USD 878.41 million in 2021 and is poised to grow from USD 935.51 million in 2022 to USD 1548.26 million by 2030, growing at a CAGR of 6.5% in the forecast period (2023-2030).
More men and women are smoking as a result of our increasingly busy and stressed lifestyles. The greatest group of hookah tobacco users is comprised of those between the ages of 18 and 30. People typically adopt these behaviours due to peer pressure, which will ultimately result in revenue creation potential for this industry in the upcoming years. Due to a rise in the percentage of female smokers, North America has the largest market share. Additionally, it has the most hookah manufacturers worldwide.
Top-down and bottom-up approaches were used to estimate and validate the size of Hookah Tobacco and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The market for hookah tobacco is divided into categories based on flavor, including fruits, mint, chocolate, and others. The hookah tobacco market is divided into four age groups: those under 18, those between 18 and 30, and those between 50 and over. The hookah tobacco market is divided into bars and cafes, specialty shops, online, and other outlets based on the distribution route. The hookah tobacco market is divided into five regions based on geography: Asia Pacific, Europe, North America, Middle East & Africa, and Latin America.
Driver
Growing Hectic and Stress Working Environment
At their jobs nowadays, people are under a lot of pressure. It is anticipated that as time passes, people's stress levels would rise. To fight tension, use hookah tobacco, which has stimulating and calming effects. Nicotine is a substance found in hookah tobacco that instantly relaxes the body. The brain's neurotransmitter dopamine is released when nicotine is consumed. Positive emotions are triggered by dopamine.
Restraints
Increased Awareness for Health Risk Associated with Tobacco
People are becoming more conscious of the harms cigarette use poses to their health. Due to the negative effects of tobacco use, there are also more incidences of illnesses like coronary heart failure and oral and lung cancer. Due to the harmful effects on health, many industrialized countries have strict regulations on tobacco products. The market expansion in China may be hampered by regulations like the ban on smoking in public areas.
Market Trend
Growth of Herbal tobacco
Since the market's growth is being constrained by the detrimental effect, demand for various low-risk cigarette products is rising. To get an advantage in the fierce rivalry on the worldwide market, major manufacturers are heavily investing in the launch of quality products and low risk cigarette tastes. Since herbal tobacco has less adverse effects than ordinary tobacco, it is becoming more and more popular.