Global Shisha Market Poised for Exceptional Growth, Anticipates 6% CAGR with Revenue Surpassing US$2 Billion by 2030
The global shisha market is on the brink of a remarkable expansion, forecasted to achieve an impressive Compound Annual Growth Rate (CAGR) of approximately 6% during the assessment period from 2023 to 2030. By the conclusion of 2030, the shisha market is expected to surpass the US$2 billion revenue milestone.
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Shisha, known also as a hookah or water pipe, is a beloved smoking instrument celebrated for its flavored tobacco. This apparatus is composed of essential components, including a tobacco-holding bowl, a vertical shaft, a water-filled base, and a hose or tube for inhaling the smoke. The crafting of shisha or hookah tobacco involves a blend of tobacco leaves, molasses or honey, and an array of flavors such as fruits, mint, or spices. This blend is packed into the shisha bowl, often protected by a metal screen or perforated foil.
The market's anticipated trajectory can be attributed to several pivotal factors, including population growth, increased community engagement, and the enduring allure of shisha's cultural heritage. In an era of growing globalization and cross-cultural interactions, shisha has gained widespread popularity across diverse regions. Consumers' unrelenting desire for novel and exciting experiences continues to drive market growth, spurred by continuous innovation and the introduction of fresh flavors. The ubiquitous influence of social media platforms has further accelerated the dissemination of shisha culture. However, the industry faces challenges stemming from the growing awareness of health risks associated with smoking.
Key Report Highlights
The shisha market is poised for substantial revenue growth between 2023 and 2030.
The proliferation of shisha in theme-based restaurants, lounges, and cafes, along with the introduction of new shisha flavors, is a significant catalyst for market expansion.
Strong-type shisha maintains its robust demand within the market.
As of 2022, fruit flavors dominate the shisha market revenue share.
Asia Pacific leads the market, while North America is projected to experience the most rapid growth until 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 driven by continuous product innovation and the diversification of flavors. 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 are opting for online purchases due to the 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 Leads: Strong shisha is expected to retain 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, thanks to the wide array of fruit flavors that resonate with consumers.
Regional Growth Opportunities
Asia Pacific at the Forefront: The Asia Pacific region is poised to contribute the most significant 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, while 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 Shows 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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