According to a recent report by Future Market Insights (FMI), the Shisha tobacco market is expected to surpass a valuation of US$ ~19 Bn in 2022 and at a CAGR of approximately 3% through 2032.
Shisha tobacco smoking is generally practiced in the company of peers, and it is a key component in social meetings and functions in some cultures. Nowadays, this culture has extended to college and university life. Moreover, water pipe smoking is often shared between friends and family, which is attributed to two factors – it reduces the costs involved in shisha tobacco smoking, and a more emotional one – it promotes a sense of brotherhood, especially amongst the male demography, and makes them feel more socially accepted. This culture has led to the emergence of an increase in the number of cafes, restaurants, and lounges that cater to various services such as shisha tobacco services.
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The expansion has resulted in the local availability of water pipe smoking and has encouraged the youth in many countries to go for novel neuro-stimulating experiences. This aspect of shisha tobacco complements the burgeoning growth in the number of cafes, restaurants, and lounges across the globe. The flourishing HoReCa segment (hotels, restaurants, and cafes), especially in developing regions, has coincided with the resurgence of the water pipe smoking culture in countries like India, where shisha tobacco smoking is no longer restricted to the rural areas and has spread amongst the youth in the urban regions too. In developed countries like the U.S., hookah cafes have mushroomed in urban areas, especially around college university campuses. As such, this easy availability has boosted the market growth in many regions.
Consumer delusion that shisha tobacco is less harmful than other forms of tobacco consumption currently guides the market growth. However, as consumers get familiar with the complete truth about the harmful effects of shisha tobacco, the market growth is likely to be affected.
The above-mentioned factors are helping the shisha tobacco market to grow rapidly and with the rising awareness regarding health concerns, manufacturers are innovating and supplying herbal shisha tobacco that is likely to be less harmful compared to the original shisha tobacco.
Key Takeaways from the Shisha tobacco Market Study
- Strong shisha tobacco to capture approximately a prominent share in 2021. However, through 2032, demand for the light variant of shisha tobacco is expected to gain traction due to the rising awareness regarding various health concerns.
- Direct distribution of shisha tobacco is likely to generate a significant revenue during the forecast period. However, with the changing purchasing preferences of individuals, online retailers are likely to hold the maximum market share by 2032.
Information Source: https://www.futuremarketinsights.com/reports/shisha-tobacco-market
Impact of COVID-19 on the Market
The COVID-19 pandemic had prompted a growing list of event cancellations and closures, as health officials urge the public to avoid large crowds. Moreover, the shutdown of industries, manufacturing plants, and rise in unemployment leads to the growth of shortage of material thus, rise in dependency of developing countries on developed countries.
Additionally, the ban on trading and changing preferences of individuals, and rising health concerns lead individuals to adopt healthy habits. Moreover, the closed café, bars, and restaurants gave no option to individuals especially millennials, thus, dropping the sales and demand in the shisha tobacco market.
Who is Winning?
Leading manufacturers of shisha tobacco are focused on introducing flavors, based upon, regional interest and further advertising them globally to drive sales of shisha tobacco globally.
Major players present in the shisha tobacco market are Fumari Hookah, Haze Tobacco, LLC, Tangiers Inc., Al Fakher Tobacco Trading, Japan Tobacco Inc., Alchemist Tobacco Co., Soex India Pvt. Ltd, Middle East for Tobacco, Al-Tawareg Tobacco Molasses Company, Arabic Factory of Smoking, Al Zawrae Industrial Company, Romman Tobakko, Ugly Tobacco Hookah Inc., Adalya Hookah, Cloud Tobacco Inc., Flavors of Americas, Capital Tobacco, Eastern Tombac & Tobacco Establishment, and Al-Amir Tobacco among others.
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