Shisha Tobacco Market to Grow with a CAGR of 6.6% Globally through 2028
Innovations in product offerings and changing consumer
preferences are driving the Global Shisha Tobacco Market in the forecast period
2024-2028.
According to TechSci Research report, “Global Shisha
Tobacco Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Shisha Tobacco Market stood at USD 942.18 Million
in 2022 and is anticipated to grow with a CAGR of 6.6% in the forecast period,
2024-2028. The global shisha tobacco market has witnessed significant growth in
recent years, driven by a combination of cultural traditions, changing consumer
preferences, and evolving market dynamics. Shisha, also known as hookah or
waterpipe tobacco, has a long history and cultural significance in many parts
of the world, particularly in the Middle East and South Asia. However, its
popularity has spread globally, leading to a vibrant and expanding market.
One of the key drivers of the global shisha tobacco
market is the changing consumer preferences and lifestyle trends. Shisha
smoking has transitioned from a cultural practice to a recreational activity
enjoyed by people of diverse backgrounds. This shift is attributed to the
appealing flavors, social nature, and relaxation associated with shisha
smoking. Young adults and millennials, in particular, are drawn to shisha
lounges and cafes, creating a steady demand for shisha products.
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Tobacco Market”
Rising disposable income levels have also played a
crucial role in the market's growth. As individuals and households experience
increased income, they have more discretionary spending power. This has led to
higher spending on leisure activities, including shisha smoking. In many
regions, shisha is seen as a luxury or status symbol, further boosting its
appeal among consumers with greater financial resources.
Emerging markets and globalization have contributed
significantly to the expansion of the shisha tobacco market. Shisha culture has
transcended its traditional boundaries, finding new enthusiasts in emerging
economies across Asia, Africa, and Latin America. Urbanization, Western
influence, and a desire for unique social experiences have fueled the rise of
shisha smoking in these regions. Multinational tobacco companies have
recognized the potential of these markets and are actively expanding their
presence, intensifying competition and market growth.
Innovations in product offerings are another notable
trend in the global shisha tobacco market. Manufacturers continually introduce
new and exotic flavors to cater to evolving consumer tastes. The vast variety
of available flavors, including fruit, mint, and dessert-inspired options,
allows consumers to customize their shisha experience. Moreover, there is a
growing trend toward healthier and tobacco-free alternatives, such as herbal
shisha, which addresses health concerns associated with traditional tobacco.
However, the shisha tobacco market also faces
significant challenges. Stringent regulatory measures are being implemented in
many countries to address health risks associated with tobacco use. These
measures include higher taxes on tobacco products, restrictions on smoking in
public places, and warning labels on shisha packaging. Negotiating this complex
regulatory landscape is a considerable challenge for manufacturers and
distributors.
Health concerns and anti-tobacco sentiment are also
impacting the shisha tobacco market. Increased awareness of the health risks
associated with shisha smoking has led to negative perceptions among some
consumers. Health organizations, governments, and advocacy groups actively
campaign against tobacco products, including shisha, which can deter potential
consumers and influence policymakers to implement stricter regulations.
Lastly, increased taxes and price sensitivity pose
challenges to the shisha tobacco market. As governments seek to discourage
tobacco consumption and generate revenue, they often impose higher taxes on
tobacco products, including shisha. Price increases can lead to reduced sales,
particularly among price-sensitive consumers. Additionally, price hikes can
encourage illicit trade and the sale of counterfeit shisha products, impacting
market integrity and profitability.
In conclusion, the global shisha tobacco market has
experienced significant growth driven by changing consumer preferences, rising
disposable incomes, emerging markets, product innovations, and cultural
significance. However, it faces challenges in the form of stringent
regulations, health concerns, evolving consumer preferences, increased taxes,
and intense competition. Navigating these challenges while staying attuned to
emerging trends is essential for sustained growth in this dynamic industry.
The Global Shisha Tobacco Market is segmented into
product type, flavor, distribution channel, regional distribution, and company.
Based on product type the market is segmented into strong
shisha tobacco, mild shisha tobacco, and light shisha tobacco.
Based on flavor the market is segmented into fruit,
mint, chocolate, and others.
Based on distribution channel the market is segmented
into direct sales and indirect sales.
Based on region the market is segmented into five
regions, North America, Europe, Asia Pacific, Middle East & Africa, and
South America.
Major companies operating in Global Shisha
Tobacco Market are:
- Fumari
- Haze Tobacco
- Al Fakher Tobacco Factory
- Socialsmoke
- Japan Tobacco Inc.
- Soex
- Prince Molasses
- Romman Shisha
- Mazaya
- Cloud Tobacco
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“Innovation and product offerings is a significant
trend that is expected to have an impact on growth over the forecasted period. Rising
disposable income, changing consumer preferences, and flavor innovation and personalization
will positively impact the Global Shisha Tobacco Market. Due to the wide range
of products available to meet specific needs of, as well as the growing
popularity of the online distribution channel, the market is growing at
impressive rate through projected period,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Shisha
Tobacco Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Product Type (Strong Shisha Tobacco, Mild Shisha
Tobacco, Light Shisha Tobacco), By Flavor (Fruit, Mint, Chocolate, Others), By
Distribution Channel (Direct Sales, Indirect Sales), By Region, By Competition,
2018-2028”, has evaluated the future growth potential of Global Shisha
Tobacco Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Shisha Tobacco
Market.
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