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Smoking Pipe Market | Global Outlook Analysis Size ($3.1 Billion), Trends, Growth (4.5%) and Industry Forecast

01-25-2023 03:41 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Smoking Pipe Market | Global Outlook Analysis Size ($3.1

The global smoking pipe market size was valued at $2,034.1 million in 2021, and is projected to reach $3,141.3 million by 2031, registering a CAGR of 4.5% from 2022 to 2031.

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According to the insights of CXOs of leading companies, the smoking pipe market will only increase in terms of value sales through innovation. As consumer demand for different smoking pipes increases, manufacturers are able to produce innovative products at competitive rates with eco-friendly packaging. In public spaces like pubs, and coffee shops, there is a growing demand for pipes. In addition, the younger generation is more drawn to parties and uses bongs, water pipes, and other smoking equipment to look cool with their friends. Furthermore, young people frequently choose to smoke due to peer pressure. Some young people view smoking as a sign of independence, which raises the prevalence of smoking at gatherings in cafes

CXOs further added that a significant portion of the population is also drawn to buy smoking pipes online due to the expansion of various online portals globally and the rise in offers and discounts. A major source of income for many firms, the online sales channel has also expanded customer reach. During the forecast period, manufacturers and suppliers of smoking pipes should benefit greatly from an increase in sales of smoking pipes through online distribution channels, particularly on manufacturer-owned websites and on e-commerce websites like Amazon, Walmart, and numerous other local e-commerce portals around the world. To promote the sales of smoking pipes on numerous e-commerce websites, producers and distributors also provide appealing discounts.

The hookah segment dominated the market

By type, the hookah segment held the largest share in 2021, accounting for nearly half of the global smoking pipe market, due to easy availability of hookah items in online and offline sales channels such as specialized stores, bars & cafes, and others. However, the chalice segment is estimated to register the highest CAGR of 5.3% during the forecast period, as chalice deliver a stronger hit compared to pipes with a spoon design.

The below 18 years segment to portray the highest CAGR through 2031

By age group, the below 18 years segment is projected to manifest the highest CAGR of 6.0% from 2022 to 2031, due to their strong preference for cigarettes and hookahamong this demographic. However, the 18 to 30 years segment held the largest share in 2021, contributing to nearly half of the global smoking pipe market, due to increased interest and inclination toward smoking.

The online segment held the largest share

By distribution channel, the online segment dominated the market in terms of revenue in 2021, accounting for more than four-fifths of the global smoking pipe market. In addition, the segment is projected to showcase the highest CAGR of 4.5% during the forecast period, due to possibilities that specialty shops offer such as saving and advantage of instant gratification. The report also includes analysis of the offline segment.

Asia-Pacificheld the lion's share

By region, the market across Asia-Pacific dominated in 2021, accounting for nearly two-fifths of the market, due to huge population, increase in disposable income, greater consumer knowledge. However, the global smoking pipe marketacross LAMEA is expected to register the highest CAGR of 5.4% during the forecast period, due toexploring population, increase in disposable income among middle class population, and rise in urbanization.

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Major market players

Ashley Furniture Industries Ltd.
Forbo International SA
Herman Miller Inc.
Mannington Mills Inc
Inter IKEA Systems BV
Jiangxi Feiyu Bamboo Industry Group Co. Ltd
Manchester Woodcraft
Moso International B.V.
Shenzhen Vincent Handicraft Co.
Limited,La-Z-Boy Inc
Cisco Bros. Corp
Greenington
Vermont Woods Studios
lee industries inc

The report analyzes these key players of the global smoking pipe market. These companies have adopted several strategies such as partnerships, expansion, collaborations, new product launches, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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