Global Shisha Market Ignites Growth
Prospects: Anticipates 6% CAGR, Surpassing US$2 Billion in Revenue by 2030
The global shisha market is poised for a spectacular ascent, with an expected Compound Annual Growth Rate (CAGR) of approximately 6% from 2023 to 2030. By the end of 2030, the shisha market is set to blaze past the US$2 billion revenue mark.
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Shisha, also recognized as a hookah or water pipe, stands as a cherished smoking apparatus celebrated for its flavored tobacco. Its core components typically encompass a tobacco-holding bowl, a vertical shaft, a water-filled base, and a hose or tube for inhaling the smoke. Shisha or hookah tobacco is skillfully crafted using a blend of tobacco leaves, molasses or honey, and an array of flavors, spanning from fruits, mint, or spices. This enticing blend is loaded into the shisha bowl, often covered with a metal screen or perforated foil.
The anticipated market growth is attributed to a host of pivotal factors, including population expansion, increased community engagement, and the enduring allure of shisha's cultural heritage. In an era marked by globalization and cross-cultural interactions, shisha has garnered widespread popularity across various regions. Consumers' relentless pursuit of novel and pleasurable experiences continues to fuel market growth, spurred by constant innovation and the introduction of fresh flavors. The ubiquitous influence of social media platforms has further accelerated the diffusion of shisha culture. Nonetheless, the industry grapples with challenges stemming from growing health awareness regarding the associated risks of smoking.
Key Report Highlights
• The shisha market is poised for significant revenue growth between 2023 and 2030.
• The proliferation of shisha in theme-based restaurants, lounges, and cafes, coupled with the introduction of new shisha flavors, drives market expansion.
• Strong-type shisha maintains its robust demand within the market.
• Fruit flavors currently dominate the shisha market revenue share as of 2022.
• Asia Pacific leads the market, while North America is projected to witness the swiftest growth up to 2030.
Drivers of Growth
Consumer Misconceptions About Water Pipe Smoking: Despite shisha carrying greater health risks compared to cigarettes, a common misconception among consumers is that it is a safer alternative due to water filtration.
Proliferation of Innovative Products: Market growth is spurred by continuous product innovation and flavor diversification. Leading industry players consistently introduce fresh and innovative shisha products to cater to diverse consumer preferences.
Rising Online Retail Trend: The global expansion of e-commerce provides substantial opportunities for shisha vendors to enhance profitability. An increasing number of consumers opt for online purchases due to convenience and enhanced security features.
Challenges to Growth
Health Concerns: Growing public awareness of health risks associated with shisha use, including coronary heart disease and the threat of oral or lung cancer, presents a challenge to market expansion.
Segment Overview
Strong Shisha Dominance: Strong shisha is expected to maintain its dominance in the market, primarily owing to its popularity in regions such as Egypt, Saudi Arabia, Jordan, Turkey, and Australia.
Fruit Flavors Reign Supreme: Fruit-flavored shisha is anticipated to maintain consistent revenue growth globally, owing to the wide array of fruit flavors that resonate with consumers.
Regional Growth Opportunities
Asia Pacific Leads the Charge: The Asia Pacific region is poised to contribute the most substantial revenue share to the shisha market. The rapid growth of the hospitality sector has created a thriving market for shisha in cafes, lounges, and bars. The region's youthful population's inclination for socializing and exploration of new experiences will continue to drive market revenue growth throughout the forecast period.
North America Displays Strong Potential: North America is expected to witness the most rapid revenue growth during the forecast period, driven by evolving consumer preferences, cultural influences, and societal trends, including the increasing popularity of shisha among young adults.
Competitive Landscape
Key players in the global shisha market include Caravan Hookah/Hookah Caravan, Caravan Cigar Company, Fumari, Haze Tobacco, Al Fakher Tobacco Factory, Social Smoke, The Japan Tobacco, Inc., Soex, Prince Molasses, Romman Shisha, Mazaya (Kuwait), Ugly Hookah, Cloud Tobacco, Flavours of Americas, Starbuzz Tobacco, Nakhla, MujeebSons, Godfrey Phillips India Ltd., and Alwaha Tobacco.
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