The global hookah tobacco market 2018-2022 is expected to post a CAGR of close to 9% during the forecast period, according to the latest market research report by Technavio.
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Technavio predicts the global hookah tobacco market to post a CAGR of close to 9% by 2022. (Graphic: Business Wire)
A key factor driving the growth of the market is increasing launches of new flavors in hookah tobacco. The growth of the global hookah tobacco market is accelerating since the last decade due to the increasing number of launches of innovative products and new flavors. To expand their customer base vendors have launched innovative products and new flavors which are influenced by the growing demand of hookah tobacco products in various countries. Thus, the increasing launches of new flavors are expected to drive the market.
This market research report on the global hookah tobacco market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rising trend of online retailing as one of the key emerging trends in the global hookah tobacco market:
Global hookah tobacco market: The Rising trend of online retailing
To enhance the profitability of the hookah tobacco market, the growth of e-commerce businesses worldwide has offered tremendous potential to the vendors. Nearly 12% of the global retail trade belongs to online retailing and both B2B and B2C operation are supported by online and e-commerce channels. Also, the growing preference of online shopping among consumers is attributable to the convenience of paying for the orders using credit or debit cards, which helps them in avoiding time-consuming journeys and billing queues. Thus, the rising trend of online retailing is encouraging various manufacturers to concentrate on the internet-savvy customer segment and explore the new online retail format.
“In 2017, the internet penetration rate in the UK was around 94.80%, which is indicative of the increasing popularity of online retailing in the country. Thus, the rising number of online retailing across the world will further translate into an increase in the sales of hookah tobacco products,” says a senior analyst at Technavio.
Global hookah tobacco market: Segmentation analysis
This market research report segments the global hookah tobacco market by product (strong hookah tobacco, mild hookah tobacco, and light hookah tobacco) and geographical regions (APAC, EMEA, and the Americas).
EMEA led the market in 2017 with a market share of close to 67%, followed by APAC and the Americas respectively. The dominance of the Americas can be attributed to the increasing launches of new flavors in hookah tobacco and product innovation in the market.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190102005279/en/
