Portland, OR, Nov. 01, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hookah tobacco market generated $824.8 million in 2020, and is projected to reach $1.69 billion by 2030, witnessing a CAGR of 6.5% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in consumption of hookah, adoption of innovative product marketing and promotion techniques, and availability of wide range of products drive the growth of the global hookah tobacco market. However, emergence of nicotine replacement products and negative impact of tobacco on health hinder the market growth. On the other hand, rise in demand for flavored and novel hookah tobacco products and usage of nicotine-free hookah tobacco create new opportunities in the coming years.
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Covid-19 Scenario:
- Owing to closure of bars, cafes, and specialty stores during the lockdown, the demand for hookah tobacco lowered down considerably. As these establishments begin their operations post-lockdown, the demand would grow steadily.
- The disruptions in manufacturing activities and the supply chain created impacted the overall revenue of the global market. However, the market is estimated to recover soon.
The report offers detailed segmentation of the global hookah tobacco market based on flavor, distribution channel, age group, and region.
Based on flavor, the mint segment held the highest market share in 2020, contributing to nearly one-third of the total market share, and is estimated to continue its lead in terms of revenue throughout the forecast period. However, the fruits segment is projected to witness the highest CAGR of 7.4% from 2021 to 2030.
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Based on age group, the 18 to 30 years segment contributed to the highest share in 2020, accounting for nearly half of the total share of the global hookah tobacco market, and is expected to maintain its lead position during the forecast period. However, the below 18 years segment is projected to manifest the largest CAGR of 9.4% from 2021 to 2030.
Based on region, Asia-Pacific accounted for the largest share in 2020, holding nearly two-fifths of the total share, and is expected to maintain its dominance by 2030. However, LAMEA is projected to register the fastest CAGR of 7.6% during the forecast period.
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Leading players of the global hookah tobacco market analyzed in the research include Japan Tobacco, Inc., Metco Ltd., Alzawrae Industrial Company, Cloud Tobacco, Inc., Al Fakher Tobacco Trading LLC, Fumari, Inc., Mujeebsons, Al Andalus Flavoured Tobacco & Molasses Co. LLC, Haze Tobacco, LLC, and Social Smoke, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
