The global shisha market is on the brink of an exceptional surge, with a projected Compound Annual Growth Rate (CAGR) of approximately 6% during the period from 2023 to 2030. By the end of 2030, the shisha market is poised to exceed the US$2 billion revenue milestone.
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Shisha, often referred to as a hookah or water pipe, is a cherished smoking device renowned for its flavored tobacco. It typically comprises essential components, including 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 crafted using a blend of tobacco leaves, molasses or honey, and an array of flavors, including fruits, mint, or spices. This blend is loaded into the shisha bowl, often covered with a metal screen or perforated foil.
The projected growth of the market can be attributed to several pivotal factors, including population growth, heightened community engagement, and the enduring appeal of shisha's cultural heritage. In an era of increasing globalization and cross-cultural interactions, shisha has gained widespread popularity across various regions. Consumers' perpetual quest for novel and enjoyable experiences continues to drive market growth, bolstered by continuous innovation and the introduction of fresh flavors. The pervasive 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
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.
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.
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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