Global Shisha Market Predicted to Surge with Impressive 6% CAGR, Expected to Exceed US$2 Billion in Revenue by 2030

submitted 9 months ago by swatitiwari to business

The global shisha market is on the brink of a significant upswing, with a projected Compound Annual Growth Rate (CAGR) of approximately 6% during the period of analysis from 2023 to 2030. By the culmination of 2030, the shisha market is anticipated to surpass the US$2 billion milestone in terms of revenue.

Read Full Insights: https://www.fairfieldmarketresearch.com/report/shisha-market

Shisha, often referred to as a hookah or water pipe, is a beloved smoking apparatus renowned for its flavored tobacco. This apparatus comprises fundamental 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 encompasses a blend of tobacco leaves, molasses or honey, and a plethora of flavors spanning fruits, mint, or spices. This amalgamation is loaded into the shisha bowl, often covered with a metal screen or perforated foil.

The market's notable trajectory can be attributed to several key factors such as population growth, heightened community engagement, and the allure of shisha's cultural heritage. In the backdrop of increasing globalization and cross-cultural interactions, shisha has gained widespread popularity across various corners of the globe. Consumers' unending quest for novel and exhilarating experiences continues to propel market growth, bolstered by a continuous stream of innovation and the introduction of fresh flavors. The widespread reach of social media platforms has further accelerated the dissemination of the shisha culture. However, the industry confronts challenges stemming from the rising awareness of health risks linked 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. Fruit flavors currently dominate the shisha market revenue share as of 2022. 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.

Our Trending Reports:

Milk Calcium Market

https://www.fairfieldmarketresearch.com/report/milk-calcium-market

Star Anise Market

https://www.fairfieldmarketresearch.com/report/star-anise-market

Fairfield Market Research

London, UK

UK +44 (0)20 30025888

USA (Toll-free) +1 (844) 3829746