NEWARK, Del, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The global smoking accessories market is poised for significant growth, with its size expected to increase from US$ 68,313.4 million in 2023 to US$ 103,334.3 million by 2033. Over the next decade, an average 4.2% CAGR in the demand for smoking accessories is projected to drive this expansion.
The market is expanding due to the rising smoking culture among young people and the rising number of smoking bars and cafés in various towns and cities. The growing accessibility of flavored water pipes has boosted the demand for smoking accessories. The erroneous belief that tobacco through a waterpipe is healthier than smoking cigarettes has also raised demand for smoking accessories.
The creation of a range of tobacco flavors and their expanding popularity among customers of all ages when partying or chilling are driving the market growth and profitability for smoking accessory manufacturers. Demand for flavors like sweet, fruity, chocolatey, and spicy is increasing considerably. Younger people like sweet tastes, which boosts the attractiveness of water pipe smoking. The easy availability of water pipe products through both online and offline sales channels has also contributed to the smoking accessories market growth.
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Online shopping platforms primarily influence the smoking accessories market. Many manufacturers of smoking accessories already have their own online shops where customers can obtain information about new product launches, features, demos, prices, and other necessary product details. Given the prevalence of numerous product alternatives and price comparison tools on online shopping websites, more customers are engaging in online shopping. Due to the lack of investment in physical shops, this is advantageous for merchants.
The market is anticipated to grow as a result of the growing trend of launching innovative products to attract more customers, as well as the expanding popularity of vaping globally. Many of the top manufacturers of smoking accessories in the globe are releasing a variety of items, such as pipes, lighters, ashtrays, cigarette cases, and vaporizers. Vaporizers and smoking water pipes are two types of smoking accessories that provide consumers with an improved smoking experience. These accessories are often used and generate more smoke than other smoking accessories, expanding the market.
Even though the United States and Canada remain powerhouses in the smoking accessories market, the United Kingdom and China are at the forefront of technological innovation in smoking accessories. The demand for smart and customizable devices is likely to present significant opportunities through 2033.
Key Takeaways from the Smoking Accessories Market
- In 2022, the global smoking accessories market size stood at US$ 66,814.5 million.
- Canada's smoking accessories industry is estimated to lead with a projected 8.2% CAGR from 2023 to 2033. This is driven by the growing acceptance and legalization of recreational cannabis use across various provinces.
- The United States smoking accessories industry is projected to follow closely with an estimated 6.9% CAGR through 2033. This can be attributed to the evolving consumer preferences towards more sophisticated and specialized smoking accessories.
- The United Kingdom's smoking accessories industry is likely to show a 6.3% CAGR between 2023 and 2033. This growth is influenced by a burgeoning market for innovative and stylish smoking accessories.
- China's smoking accessories industry is projected to develop at a 4.8% CAGR through 2033. This development is propelled by increasing urbanization and the relaxation of specific regulations surrounding tobacco and smoking-related products.
- In the global smoking accessories industry, Germany's forecasted CAGR is 3.9% between 2023 and 2033. This is driven by evolving consumer preferences and a growing acceptance of alternative smoking products.
- India's smoking accessories industry will likely exhibit a 3.8% CAGR from 2023 to 2033. The industry is affected by a younger population increasingly open to experimenting with different smoking products and accessories.
“The thriving Smoking Accessories market. Our comprehensive analysis delves into the evolving consumer preferences and the innovative product offerings shaping this industry. Focusing on market trends, key players, and emerging opportunities, our research offers valuable insights for industry stakeholders and investors seeking to harness the growth potential in this dynamic sector.” Says Sneha Verghese, Senior Consumer Goods and Products Consultant at Future Market Insights (FMI).
Key Players and Strategies for Success in the Smoking Accessories Market
The following are specific essential strategies for achieving success in the smoking accessories market:
- Offer a variety of smoking accessories to suit different tastes and requirements.
- Ensuring the safety and legality of products by closely adhering to industry norms and regulations.
- Invest in research into cutting-edge materials and technologies to improve the performance and longevity of products.
- Find significant online marketplaces and stores that the target market uses and collaborate with them.
- Form strategic alliances with complementary businesses to expand reach.
Recent Developments in the Smoking Accessories Market
- In November 2022, Imperial Brands, a key player in the tobacco industry, introduced the Blu brand of disposable vapes. The line consists of several small, pocket-sized vapes that can each provide up to 600 puffs and contain 20mg of nicotine in 2 ml of liquid.
- In November 2021, Session Goods, a lifestyle company in San Francisco that designs contemporary cannabis products, introduced its unique, limited-edition Designer Series. The company has produced a special limited edition run of all-black and all-white bongs, pipes, and cleaning caps from its award-winning smoking accessory range.
Key Companies Profiled in the Smoking Accessories Market Report
- Bull Brand
- BBK Tobacco & Foods, LLP
- Chongz
- British American Tobacco PLC
- Curved Papers, Inc.
- Univac Furncrafts Pvt. Ltd.
- Imperial Brands
- Republic Technologies International
- Jinlin (HK) Smoking Accessories Co., Ltd.
- Moondust Paper Pvt. Ltd.
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Smoking Accessories Market Segmentation:
By Type:
- Smoking Waterpipes
- Smoking Vaporizers
- Rolling Paper & Cigarette Tubes
- Lighters
- Smoking Filter & Paper Tips
- Other Smoking Accessories Types
By Distribution Channel:
- Online Sale of Smoking Accessories
- Offline Sale of Smoking Accessories
By Region:
- North America Smoking Accessories Market
- Latin America Smoking Accessories Market
- Europe Smoking Accessories Market
- Asia Pacific Smoking Accessories Market
- Middle East & Africa Smoking Accessories Market
Author By:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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