Published Date: 3-Nov-2023
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According to a new report, published by KBV research, The Global Smoking Accessories Market size is expected to reach $90.6 billion by 2030, rising at a market growth of 4.2% CAGR during the forecast period.
The Offline segment is leading the Global Smoking Accessories Market by Distribution Channel in 2022 thereby achieving a market value of $66.1 Billion by 2030. When users buy smoking accessories from a physical store, they can take them home immediately. This is especially beneficial if they need a product immediately or prefer not to wait for shipping. When users visit a brick-and-mortar store, they can physically inspect the products, assess their quality, and get a better sense of their size and materials. This can be particularly important for items like glass pipes and bongs. Visiting a physical store can provide a social experience.
The Waterpipes segment is showcasing a CAGR of 4% during (2023 - 2030). Many people worldwide use water pipes, particularly young adults, urban youth, and college students. In addition, the popularity of hookah smoking has considerably accelerated the rise of retail businesses that rent out and sell water pipes as well as hookah-flavored tobacco blends. Additionally, increased use of water pipes in gatherings, clubs, cafés, restaurants, lounges, hotels, and other settings has fueled the segment's expansion.
The Asia Pacific region dominated the Global Smoking Accessories Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $42 Billion by 2030. The North America market is anticipated to grow at a CAGR of 3.1% during (2023 - 2030). Additionally, The Europe market would witness a CAGR of 4% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Bull Brand, Moondust Paper Pvt. Ltd., British American Tobacco PLC, Imperial Brands PLC, The Rolling Paper Company, Univac Furncrafts Pvt. Ltd., Republic Technologies International, Curved Papers, Inc., Jinlin Group Co. Ltd., and Empire Glassworks.
By Distribution Channel
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