According to a new report published by Allied Market Research, titled, “Smoking Pipe Market,” The smoking pipe market size was valued at $2.0 billion in 2021, and is estimated to reach $3.1 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.
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KEY FINDINGS OF STUDY
- By types, the hookah segment was the highest revenue contributor to the smoking pipe industry, with $935.3 million in 2021, and is estimated to reach $1,413.7 million by 2031, with a CAGR of 4.3%.
- Depending on age group, the 18 to 30 years segment was the highest revenue contributor to the market, with $955.1 million in 2021, and is estimated to reach $1,378.0 million by 2031, with a CAGR of 3.8%.
- As per distribution channel, the offline segment was the highest revenue contributor to the market, with $1,748.6 million in 2021, and is estimated to reach $2,711.9 million by 2031, with a CAGR of 4.5%.
- Region wise, Asia-Pacific was the highest revenue contributor, accounting for $759.1 million in 2021, and is estimated to reach $1,206.3 million by 2031, with a CAGR of 4.8%.
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Major determinants of the market growth
Rapid adoption of online sales channels and use of novel product marketing and promotion strategies online have boosted the growth of the global smoking pipe market. However, nicotine replacement therapies as alternative to tobacco usage and growth in public awareness about high success rate of nicotine replacement therapies such as patches, gum, lozenges, and other products hinder the market growth. On the contrary, increase in trend of shopping from online channels would open new opportunities in the future.
According to the insights of CXOs of leading companies, the smoking pipe market will only increase in terms of value sales through innovation. As consumer demand for different smoking pipes increases, manufacturers are able to produce innovative products at competitive rates with eco-friendly packaging. In public spaces like pubs, restaurants, and coffee shops, there is a growing demand for pipes. In addition, the younger generation is more drawn to parties and uses bongs, water pipes, and other smoking equipment to look cool with their friends. Furthermore, young people frequently choose to smoke due to peer pressure. Some young people view smoking as a sign of independence, which raises the prevalence of smoking at gatherings in cafes and restaurants.
CXOs further added that a significant portion of the population is also drawn to buy smoking pipes online due to the expansion of various online portals globally and the rise in offers and discounts. A major source of income for many firms, the online sales channel has also expanded customer reach. During the forecast period, manufacturers and suppliers of smoking pipes should benefit greatly from an increase in sales of smoking pipes through online distribution channels, particularly on manufacturer-owned websites and on e-commerce websites like Amazon, Walmart, and numerous other local e-commerce portals around the world.
The hookah segment dominated the market
By type, the hookah segment held the largest share in 2021, accounting for nearly half of the global smoking pipe market, due to easy availability of hookah items in online and offline sales channels such as specialized stores, bars & cafes, and others. However, the chalice segment is estimated to register the highest CAGR of 5.3% during the forecast period, as chalice deliver a stronger hit compared to pipes with a spoon design.
The below 18 years segment to portray the highest CAGR through 2031
By age group, the below 18 years segment is projected to manifest the highest CAGR of 6.0% from 2022 to 2031, due to their strong preference for cigarettes and hookah among this demographic. However, the 18 to 30 years segment held the largest share in 2021, contributing to nearly half of the global smoking pipe market, due to increased interest and inclination toward smoking.
The online segment held the largest share
By distribution channel, the online segment dominated the market in terms of revenue in 2021, accounting for more than four-fifths of the global smoking pipe market. In addition, the segment is projected to showcase the highest CAGR of 4.5% during the forecast period, due to possibilities that specialty shops offer such as saving and advantage of instant gratification. The report also includes analysis of the offline segment.
Asia-Pacific held the lion’s share
By region, the market across Asia-Pacific dominated in 2021, accounting for nearly two-fifths of the market, due to huge population, increase in disposable income, greater consumer knowledge. However, the global smoking pipe market across LAMEA is expected to register the highest CAGR of 5.4% during the forecast period, due to exploring population, increase in disposable income among middle class population, and rise in urbanization.
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Major Market Players
- Ashley Furniture Industries Ltd.
- Forbo International SA
- Herman Miller Inc.
- Mannington Mills Inc
- Inter IKEA Systems BV
- Jiangxi Feiyu Bamboo Industry Group Co. Ltd
- Manchester Woodcraft
- Moso International B.V.
- Shenzhen Vincent Handicraft Co.
- Limited,La-Z-Boy Inc
- Cisco Bros. Corp
- Duresta Upholstery Ltd.
- Greenington
- Vermont Woods Studios
The report analyzes these key players of the global smoking pipe market. These companies have adopted several strategies such as partnerships, expansion, collaborations, new product launches, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.