The global smoking accessories market is expected to witness strong growth during the forecast period between 2021 and 2031.
Smoking accessories is a collective term that comprises of products that are used to hold cigarettes, cigars and, other tobacco-based products.
The outbreak of the COVID-19 pandemic adversely affected the growth in the global smoking accessories market. With rising cases globally, manufacturing units were forced to shut down temporarily or permanently.
This led to reduced production of smoking accessories and in turn led to decreased sales of smoking accessories, resulting in reduced product demand and market growth.
However, with vaccine availability and approval given to use booster doses for different population sections, the production of smoke accessories could rise in future leading to improved sales and increasing product demand, thereby positively impacting market growth.
Rising consumer preference for herbal smoking is the key growth driver for the global smoking accessories market.
Also, increasing number of consumers opting for water pipe smoking because of smoke filtration before inhalation is expected to fuel the growth in the overall smoking accessories market, in the coming years.
In addition to this, availability of water pipe smoking products in different flavors such as sweet, spicy, and fruit could propel the global smoking accessories market, in the years ahead.
Ease of availability of water pipe smoking products in both offline and online distribution channels could contribute to the growth of the smoking accessories market, in future.
Other factors such as rising disposable income among population sections could propel the global smoking accessories market, in the coming years.
The 18-30 age group segment are expected to make the largest contribution to the overall market owing to increasing demand for different smoking accessories such as water pipes and rolling pipe vaporizers.
Offline distribution segment is anticipated to contribute the most to the overall smoking accessories market because of increasing need for consumers to physically test the product before arriving at a decision.
The global smoking accessories market is highly competitive, with the presence of several leading players, many of whom have become successful owing to years of delivering consistent results and are expected to account for a large share in the overall market, in future.
Growth strategies such as novel product launches could help well-established smoking accessories market players gain a competitive edge over other players.
Collaboration with smaller players could help prominent smoking accessories market players expand their market presence and increase their revenue shares.
R&D undertakings could be a key growth strategy for leading smoking accessories market players, in the years ahead.
Some of the leading players in the global smoking accessories market include Bull Brand, Chongz, Curved Papers Inc., Moondust Paper Pvt. Ltd, and British American Tobacco LLC.
The global smoking accessories market is divided into four regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Asia Pacific is expected to be the dominant region in the global smoking accessories market because of rising smoking accessories demand with the young population in countries such as India, contributing hugely to market growth in the region.
North America is anticipated to offer lucrative growth opportunities for the global smoking accessories market because of the presence of large number of market players in countries such as US and Canada.
Europe is expected to witness strong growth in the overall smoking accessories market, in the years ahead.
Other regions of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the global smoking accessories market, in the coming years.