Hookah Tobacco Market Expected to Grow Despite Regulatory Challenges
NEW YORK, July 1, 2024 /PRNewswire/ -- The global hookah tobacco market size is estimated to grow by USD 705.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.57% during the forecast period.
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This growth is driven by several factors, including:
- Increasing Popularity of Online Retailing: E-commerce is a significant growth channel for the hookah tobacco market, accounting for roughly 12% of global retail sales. This trend is driven by factors such as the expanding internet user base and consumers' preference for online shopping due to its convenience and security.
- Diverse Flavor Offerings: The market offers a wide variety of flavors to cater to consumer preferences. Popular options include fruits, mint, and chocolate, with some brands offering unique blends and aromas. Additionally, there's a growing demand for organic and natural hookah tobacco.
However, the market also faces challenges:
- Stringent Regulations: Stringent regulations on hookah tobacco consumption in various countries, such as bans on public consumption or product sales, could significantly hinder market growth.
- Health Concerns: Hookah tobacco contains nicotine and dopamine, which are addictive and can lead to health problems like cancer.
Key Market Players:
The hookah tobacco market consists of various players, including:
- Al Fakher Tobacco Trading
- Amazing Tobacco
- ASA Produktions GmbH
- British American Tobacco Plc
- Chan Ning Dekang Biotechnology Co. Ltd.
- Cloud Tobacco
- Eastern Tombac and Tobacco Est.
- FLAVORS OF Americas Co.
- Fumari
- Haze Tobacco LLC
- Hertz Flavors GmbH and Co. KG
- Japan Tobacco Inc.
- La Montagne Verte Sarl
- MUJEEB WAJID GROUP
- Philip Morris International Inc.
- Romman Tobakko
- Shisha Tobacco Factory
- SOEX India Pvt. Ltd.
- Starbuzz Tobacco Inc.
- Ugly Hookah
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Market Segmentation:
The hookah tobacco market is segmented by product, application, and geography.
- Product: Strong Hookah Tobacco (SHT), Medium Hookah Tobacco (MHT), and Light Hookah Tobacco (LHT)
- Application: Fruit-flavored Hookah Tobacco (FrHT), Beverage-flavored Hookah Tobacco (BevHT), Coffee-flavored Hookah Tobacco (CfHT), and Other Flavored Hookah Tobacco (ScHT)
- Geography: Middle East and Africa, Europe, Asia Pacific (APAC), North America, and South America
Overall, the hookah tobacco market is expected to experience moderate growth despite facing challenges from regulations and health concerns. The increasing popularity of online retailing and the introduction of new and innovative products are likely to support market growth in the coming years.
SOURCE Technavio
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