The smoking accessories market is expected to witness significant growth, owing to increase in attraction of youth toward smoking. Moreover, water pipes have become centerpieces of cafés and restaurants, especially in countries such as South Africa, China, India, and the U.S. Rise in income levels and urbanization is also a key driver for growth of the smoking accessories market. Furthermore, increase in aggressive advertisements and promotions through social media platforms by manufacturers plays a crucial role in growth of the smoking accessories market.
According to a new report published by Allied Market Research, titled, “Smoking Accessories Market,” The smoking accessories market was valued at $3.1 billion in 2020, and is estimated to reach $6.3 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030. Online retail platform is the major driver of the smoking accessories market. Presently, most smoking accessories manufacturing companies have their own web-based retail stores where users have access to information about product launches, product features, demo, price, and other required information about products.
There is an increase in number of consumers shopping online, owing to availability of different product options and price comparison on online shopping sites. This is useful for retailers, owing to zero expenditure on physical outlets. Furthermore, there is a rise in preference for online shopping as consumers can read reviews provided by other consumers, compare various stores & products, and verify product price by different sellers. Thus, rise in adoption of online sales channels drives growth of the smoking accessories market.
Request For Sample :- https://www.alliedmarketresearch.com/request-sample/16382
The market in Asia-Pacific and LAMEA offers lucrative growth opportunities for operating players. Increase in adoption of western lifestyle and rise in disposable income of consumers majorly drive growth of the market. Moreover, increase in attraction of young people toward smoking to look cool in the society has further increased sales of smoking accessories which is becoming the latest smoking accessories market trends in developing region. Asia-Pacific offers potential growth opportunities to the market players for launching innovative smoking accessories. Moreover, countries in Latin America, such as Brazil, are expected to unfold attractive business opportunities
Owing to high consumption of tobacco products. However, nicotine replacement therapy is a medically approved method of obtaining nicotine, except through tobacco use. It is used to aid in quitting cigarette smoking or chewing tobacco. Nicotine replacement therapies can significantly reduce cravings, thereby breaking the mental addiction to tobacco-based products. Growing public awareness regarding high success rate of nicotine replacement therapies, such as patches, lozenges, gums, and other products restrict the smoking accessories market growth.
The smoking accessories market is segmented on the basis of product type, age group, distribution channel, and region. Based on product type, the smoking accessories market is bifurcated into grinder, water pipes, rolling paper, vaporizers, and others. On the basis of age group, it is divided into below 18 years, 18 to 30 years, 30 to 50 years, and above 50 years. On the basis of distribution channel, it is categorized into online and offline. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Get detailed COVID-19 impact analysis on the Smoking Accessories Market :- https://www.alliedmarketresearch.com/request-for-customization/16382?reqfor=covid
KEY FINDINGS OF THE STUDY
- By product type, the water pipes segment constituted a major smoking accessories market share in 2020; however, the grinder segment is projected to experience growth at the highest CAGR during the smoking accessories market forecast period.
- On the basis of age group, the 18 to 30 years segment led, in terms of the market share, and is expected to continue to grow with robust CAGR during the forecast period.
- On the basis of distribution channel, offline segment held the major share in the market in 2020, and is projected to remain dominant during the forecast period.
- By region, Asia-Pacific accounted for the highest market share in 2020, and is expected to grow at a significant CAGR during the forecast period. Increase in use of smoking accessories among young population has driven growth of the smoking accessories market in the region.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition.
The key players profiled in the smoking accessories industry includes :-
- BBK Tobacco & Foods, LLP
- British American Tobacco PLC
- Bull Brand
- Curved Papers, Inc.
- Imperial Brands
- Jinlin (HK) Smoking Accessories Co., Ltd.
- Moondust Paper Pvt. Ltd.
- Republic Technologies International
- Univac Furncrafts Pvt. Ltd.
Flash Sale Upto 25% Discount (From 25th April to 10th May) – Buy The Report And Grab This Opportunity :- https://www.alliedmarketresearch.com/checkout-final/78f838894658f145e3a090802f70df47
FREQUENTLY ASKED QUESTIONS?
Q1. What are the upcoming trends of Smoking Accessories Market in the world?
Q2. Which is the largest regional market for Smoking Accessories?
Q3. What is the estimated industry size of Smoking Accessories?
Q4. Which are the top companies to hold the market share in Smoking Accessories?
Reasons to buy:-
• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis
Trending Reports :-
Home Decor Market https://www.alliedmarketresearch.com/home-decor-furnishing-market
Furniture Market https://www.alliedmarketresearch.com/furniture-market
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free):
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |