November 1, 2021 09:42 ET | Source: Joint Market Research Joint Market Research

Portland, Oregon, November 1, 2021 (GLOBE NEWSWIRE) - According to a report released by Allied Market Research, the global waterpipe tobacco market generated US$824.8 million in 2020 and is expected to reach US$1.69 billion by 2030. The compound annual growth rate is 6.5% from 2021 to 2030. The report analyzes in detail changing market trends, top market segments, key investment areas, value chains, regional patterns and competitive scenarios.

The increase in waterpipe consumption, the adoption of innovative product marketing and promotion technologies, and the availability of a wide range of products have promoted the growth of the global waterpipe tobacco market. However, the emergence of alternative nicotine products and the negative health effects of tobacco have hindered market growth. On the other hand, the increasing demand for flavoring and new types of waterpipe tobacco products and the use of nicotine-free waterpipe tobacco will create new opportunities in the coming years.

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The report provides a detailed breakdown of the global waterpipe tobacco market based on flavor, distribution channel, age group, and region.

According to flavor, the mint segment has the highest market share in 2020, accounting for nearly one-third of the total market share, and is expected to continue to maintain its leading position in revenue throughout the forecast period. However, from 2021 to 2030, the compound annual growth rate of the fruit sector is expected to be the highest at 7.4%.

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Divided by age group, the 18-30 age group will contribute the most in 2020, accounting for nearly half of the total global waterpipe tobacco market share, and is expected to maintain its leading position during the forecast period. However, the under-18s segment is expected to have the highest compound annual growth rate between 2021 and 2030, at 9.4%.

From a regional perspective, the Asia-Pacific region has the largest share in 2020, accounting for nearly two-fifths of the total share, and is expected to maintain its dominant position by 2030. However, LAMEA is expected to achieve the fastest compound annual growth rate of 7.6% in 2020. Forecast period.

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The major players in the global waterpipe tobacco market analyzed in the study include Japan Tobacco, Inc., Metco Ltd., Alzawrae Industrial Company, Cloud Tobacco, Inc., Al Fakher Tobacco Trading LLC, Fumari, Inc., Mujeebsons, Al Andalus Flavored Tobacco & Molasses Co. LLC, Haze Tobacco, LLC and Social Smoke, Inc.

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Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides unparalleled quality "market research reports" and "business intelligence solutions" for global enterprises and small and medium enterprises. AMR provides targeted business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.

We have established professional business relationships with many companies, which helps us to mine market data, thereby helping us generate accurate research data sheets and confirm the highest accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research, has played an important role in motivating and encouraging everyone related to the company to maintain high-quality data and help customers succeed in every possible way. Every piece of data presented in our published report is extracted through preliminary interviews with senior officials of leading companies in related fields. Our secondary data procurement method includes in-depth online and offline research and discussions with knowledgeable professionals and analysts in the industry.