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.
PORTLAND, Ore., Aug. 8, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Smoking Pipe Market by Type (Bong, Hookah, Chalice, Others), by Age Group (Below 18 years, 18 to 30 years, 30 to 50 years, Above 50 years), by Distribution Channel (Offline, Online): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global smoking pipe industry was accounted for $2.0billion in 2021, and is expected to reach $3.1 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.The report provides an in-depth analysis of changing market trends, key investment pockets, top segments, regional landscape, value chain, and competitive scenario.
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.
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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 hookahamong 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-Pacificheld 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 marketacross LAMEA is expected to register the highest CAGR of 5.4% during the forecast period, due toexploring population, increase in disposable income among middle class population, and rise in urbanization.
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Major market players
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.
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