The North America smoking accessories market is expected to accumulate 38% in revenue in 2022. By type, vaporizers are expected to remain the top-selling category, generating over 30% in revenue.
NEWARK, Del, Aug. 03, 2022 (GLOBE NEWSWIRE) — The global smoking accessories market is expected to generate US$101 billion while growing at a CAGR of 4.2% during the forecast period. The market is estimated to be worth US$64.3 billion in 2021 and US$67 billion in 2022. Rising adoption of organic makeup by consumers is expected to play a prominent role in driving the market during the period of forecast.
The demand for smoking accessories is increasing due to the increase in consumer disposable income. The smoking accessories market is dominated by the lighter segment, accounting for almost 42% market share, owing to the increase in usage among the young population.
Rising culture of smoking among the young population along with increasing number of smoking cafes and bars in various regions is propelling the growth of the market. Rising demand for smoking accessories in developing countries is further expected to fuel the market growth over the forecast period. Moreover, the easy availability of smoking accessories in various places is also helping the growth of the market.
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Key points to remember market research:
Vaporizers will account for over 30% of market revenue in smoking accessories
Sales of smoking filters and paper mouthpieces will grow at a CAGR of 4.3% from 2022 to 2032
Based on distribution channel, online sales of smoking accessories are expected to register a CAGR of 4%.
Asia-Pacific is expected to account for the majority share of nearly 43% from 2022
North America is estimated to gain traction in the market, accumulating 38% revenue
“An exponential growth in the number of smokers and the rising trend of smoking as a style statement, especially among the younger population has boosted demand for smoking accessories“, said one MFI analyst.
The major players in the global smoking accessories market are Bull Brand, BBK Tobacco & Foods, LLP, Chongz, British American Tobacco PLC, Curved Papers, Inc., Univac Furncrafts Pvt. Ltd., Imperial Brands, Republic Technologies International, Jinlin (HK) Smoking Accessories Co., Ltd, Moondust Paper Pvt. Ltd., among others. The main recent developments among the players are:
In August 2021, Philip Morris, a US-based company, acquired inhaled pharmaceutical company OtiTopic as part of its Beyond Nicotine initiative. Phillip Morris International is known worldwide primarily for its cigarette products, with brands such as the global bestseller Marlboro under its umbrella.
In June 2022, hemp (HPCO), a maker of hemp-based cigarettes, has disclosed terms for a proposed $14 million initial public offering. The company announced the plans on offering 3 million shares at a price between $4 and $6 per share, which would yield $14 million if the price was midpoint.
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More valuable information
Future Market Insights, in its new offering, presents an unbiased analysis of the global Smoking Accessories market featuring historical analysis from 2017 to 2021 and forecast statistics for the period 2022-2032.
The study reveals essential information based on type (water pipe smoking accessories, vaporizer smoking accessories, rolling papers and cigarette tubes, lighters, smoking accessories with filters and paper tips, others) by channel distribution (online sales, offline sales) and region (North America, Europe, Asia-Pacific, Middle East and Africa and Latin America)
Key segments covered in the Smoking Accessories industry analysis
Smoking Accessories Market By Type:
Smoking water pipes
Vaporizers for smoking
Rolling papers and cigarette tubes
Smoking filter and paper tips
Other Types of Smoking Accessories
Smoking Accessories Market by Distribution Channel:
Smoking Accessories Market by Region:
North America Smoking Accessories Market
Smoking accessories market in Latin America
Smoking accessories market in Europe
Asia Pacific Smoking Accessories Market
Middle East & Africa Smoking Accessories Market
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1. Global Smoking Accessories Market – Executive Summary
1.1. Global market overview
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. MFI analysis and recommendations
2. Global Smoking Accessories Market Overview
2.1. Market Coverage / Taxonomy
2.2. Introduction and market definition
3. Market Context and Basic Data Points
3.1. Need of the hour for industries
3.2. Smoking Accessories – Strategic Priorities
3.3. Life cycle stage
3.4. Importance of technology
3.5. Smoking Accessories Use Cases
3.6. Prediction factors: relevance and impact
3.7. Investment Feasibility Matrix
3.8. PESTLE analysis
3.9. Porter’s Five Forces Analysis
3.10. Market dynamics
3.10.3. Opportunity analysis
4. Global Smoking Accessories Market Demand (US$) min) Analysis 2017-2021 and forecast, 2022-2032
4.1. Historical Market Value Analysis (USD Million), 2017-2021
4.2. Current and Future Market Value Projections (USD Million), 2022-2032
4.2.1. Analysis of annual growth trends
4.2.2. Analysis of opportunities in absolute dollars
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