Hookah Mixes Market Share is anticipated to Grow at a 4.25% CAGR During Forecast Period 2021 to 2028
Research Reports
Dec 16, 2022
Market Overview
Hookah Mixes Market is expected to Grow USD 964.45 million at a CAGR 4.25% during the forecast period 2021-2028.
Market Dynamics
The primary driver of market expansion is the rising demand for tobacco substitute goods. The Hookah Mixes Market is further boosted by the growing number of hookah bars, lounges, and pubs. Novel chances for active vendors in the global market are anticipated to be created by the ongoing demand for new tastes and the expansion of the organized retail industry in Asia-Pacific. Alternative cigarette products, such as e-cigarettes, smokeless tobacco, and hookah, are becoming more and more well-liked worldwide. The rise of substitute goods is being fueled by the rising number of people choosing to stop smoking cigarettes due to the health risks they pose. Hookah Mixes Market competitors are beginning to develop variants in their product portfolios in response to the rising demand for novel and fruit-based flavors.
It has been determined that the growing number of initiatives and commercials on cutting back on cigarette use will increase sales of cigarette substitutes. Governments all over the world are implementing programs to discourage cigarette smoking in order to promote good health and lower the risk of cancer globally. Long-term market players can capitalize on the rising demand for novel flavors by concentrating their R&D efforts on innovation. Consumer preferences are always changing as a result of customers’ changing eating and lifestyle patterns as well as their demand for diversity.
The primary obstacle to the market’s expansion is the regulatory environment. A specific set of regulations that must be scrupulously obeyed in order to sell their product have been implemented by the governments of various nations in response to growing concerns about the health risks linked with tobacco use.
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Market Segmentation
The Hookah Mixes Market has been divided into tobacco-based and non-tobacco-based categories based on the type of product. The non-tobacco-based sector is anticipated to grow at the highest CAGR of 4.62% over the course of the projection period, while the tobacco-based segment is anticipated to maintain its dominance with a share of 83.40% through 2020.
The market for hookah mixtures has been divided into categories based on taste type, including fruit, cotton candy, mint, chocolate, blends, and others. While the fruit category is anticipated to experience the greatest CAGR of 4.54% during the forecast period, the mixes segment held a bigger market share of 40.82% in 2020.
The global market for hookah mixtures has been divided into two categories based on end use: bars & pubs and homes. The household category is anticipated to experience the highest CAGR of 4.40% over the course of the forecast period, while the bars & pubs segment held the largest market share of 76.26% in 2020.
The Hookah Mixes Market has been segmented into store-based and non-store-based distribution channels. The non-store-based category is anticipated to increase at the greatest rate of 4.90% during the projection period, while the store-based segment is anticipated to maintain its leadership with a share of 82.42% through 2020.
Regional Analysis
A lucrative market for hookah mix producers is Asia-Pacific. In the market for hookah mixtures worldwide, it held a 16.14% market share. During the forecast period, the market in the region is anticipated to grow at a CAGR of 4.54%. One of the first countries where hookah was allegedly utilized was India. In recent years, hookah has experienced tremendous growth in popularity in India. Without any restrictions, more bars, pubs, and eateries are now providing tobacco-free or flavored hookah to young people. Moreover, nearly all of the region’s major cities now have a much higher number of hookah lounges, pubs, or cafés that specialize in hookah.
Which region can dominate the Hookah Mixes Market?
North America will dominate the hookah mixes market.
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Competitive Analysis
Prominent players in the global hookah mixes market include Mazaya, Hydro Herbal, Haze Tobacco, Hookafina, Inc., Social Smoke, Nakhla Tobacco Company S.A.E, Forever Gold, Al-Fakher, Fumari, and Starbuzz Tobacco, Inc.
Read Our Related Report –
E-Cigarettes & Vaporizer Market Research Report Forecast Till 2030
Smokeless Tobacco Market Research Report Forecast to 2030
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