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,”
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 is tobacco smoked with a hookah or waterpipe. It is also known as maassel, waterpipe tobacco, argileh, or nargileh. It comes in different flavors such as mint, apple, cherry, coconut, chocolate, cappuccino, licorice, and watermelon. Hookah tobacco is a syrupy kind of tobacco in molasses used by a pipe or a hookah and is available in numerous ways. Hookah tobacco is generally consumed for its relaxing and energizing effect. It is gaining popularity because of the emerging culture of theme based café and the growing inclination of consumers toward its flavored consumption.
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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.
According to the hookah tobacco market trends, on the basis of distribution channel, bars and cafes segment accounted for around 25.6% market share in 2020, with and is expected to grow at CAGR of 6.0% during the forecast period. Café has become an intrinsic part of a consumer’s life. It’s a place where the consumers gather for both social and working occasions. The primary reason behind this popularity is its relaxed and open atmosphere and casual feeling. The availability of hookahs in bars and cafes has opened a new door of opportunity for consumers especially the youth who finds it attractive. Other added services such as availability to make it a hotspot for consumers to socialize as well as work while enjoying their hookahs.
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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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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.
Key Findings Of The Study
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.
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