Newark, June 20, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global hookah tobacco market is expected to grow from USD 912.71 Million in 2023 to USD 1513.97 Million by 2033, at a CAGR of 5.19% during the forecast period 2023-2033.
This growth is broadly attributed to the launching of innovative products and their growing demand among various age groups and income levels. Several supermarkets and convenience stores are witnessing a surge in the popularity of hookah tobacco, and brands such as Fumari and Al Fakher are offering a broad range of flavours to cater to consumer preferences.
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Competitive Strategy
To enhance their market position in the global Hookah Tobacco market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In October 2022: Mazaya showcased its shisha (Hookah Tobacco) category at the TFWA World Exhibition & Conference in Cannes. The organization exhibited its potential by offering unforgettable and exceptional experiences for visitors, which is helping it gain a share in the Hookah Tobacco market.
Market Growth & Trends
Hookah tobacco is a form of tobacco product that produces smoke after the hookah device is heated and the people inhale it. Hookah is also known as shisha, waterpipe tobacco, narghile, etc. It generally consists of sweeteners, tobacco and flavouring. The hook device has its application for smoking hookah tobacco; in this, the charcoal or electric heated air is passed through the tobacco mixture and eventually into the water-filled chamber. One of the factors propelling the market's growth is the surge in the launch of many new flavours in hookah tobacco. This market has been growing fast over the last decade broadly because of growth in the launch of innovative products and new flavours. Also, to expand the customer base, vendors are broadly focusing on coming up with innovative products and new flavours as there is a growing demand for hookah tobacco products in many countries. The hookah tobacco sector is growing because of growing innovative products, the surge in consumer demand and increasing hookah smoking activities. The market offers consumers a wide range of flavours and experiences. The most important advantage of the hookah tobacco market is its social aspect, as it is commonly enjoyed in groups and social settings. A broad range of flavours is present for hookah tobacco, which offers consumers many options and caters to different tastes and preferences. Hookah is broadly practised in social settings. Also, based on one of the surveys in 2013-14, around 79.6% of the youth agreed to use hookah because they prefer using hookah when they socialize. Also, hookah bars and cafes' popularity is significantly growing, especially in urban areas and college campuses. These places offer fun, socializing and relaxing environments among young adults. It also has extra appeal, offering musical performances, alcohol, and food. This market is also growing as places like hookah bars, and cafes are generally exempted from state and local smoke-free laws.
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Key Findings
• In 2023, the mint segment dominated the market with the largest market share of 33.33% and market revenue of USD 304.21 Million.
The flavor segment is divided into fruits, mint, chocolate and others. In 2023, the mint segment dominated the market with the largest market share of 33.33% and market revenue of USD 304.21 Million. This significant market share is attributed to its refreshing taste and cooling effect while consuming that flavoured hookah.
• In 2023, the 18 to 30 years segment dominated the market with the largest market share of 51.34% and market revenue of USD 468.59 Million.
The age group segment is divided into below 18 years, 18 to 30 years, 35 to 50 years and above 50 years. In 2023, the 18 to 30 years segment dominated the market with the largest market share of 51.34% and market revenue of USD 468.59 Million. This market share is attributed to the fact that young adults broadly use hookah tobacco for networking.
Regional Segment Analysis of the Hookah Tobacco Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The APAC region occurred as the largest market for the global Hookah Tobacco industry, with a market share of 38.66% and a market value of around USD 352.86 Million in 2023. This market share is attributed to the growth in the number of hookah users in the region due to a surge in disposable income and the desire to experience a luxurious lifestyle. Also, it is very common among the millennial population in the region. North America has the highest CAGR in the forecasting period. This trend is largely attributed to the growing Middle Eastern culture in the US, which is connected to hookah.
Key players operating in the global Hookah Tobacco market are:
• Mazaya
• Al Fakher Tobacco Factory
• Flavors of Americas S.A.
• FUMARI
• Haze Tobacco
• Cloud Tobacco
• Prince Molasses
• Romman Shisha
• SOCIALSMOKE
• Japan Tobacco Inc
• SOEX
• Ugly Hookah
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Hookah Tobacco market based on below mentioned segments:
Global Hookah Tobacco Market by Flavour:
• Fruits
• Mint
• Chocolate
• Others
Global Hookah Tobacco Market by Age Group:
• Below 18 Years
• 18 to 30 Years
• 35 to 50 Years
• Above 50 Years
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About the report:
The global Hookah Tobacco market is analysed based on value (USD Million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
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