Smoking Pipe Market Expected to Reach $3.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Smoking Pipe Market," The smoking pipe market size was valued at $2.0 billion in 2021, and is estimated to reach $3.1 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.

The market for smoking pipes is mostly driven by online shopping platforms. The majority of companies that manufacture smoking pipes at the moment have their own online shops where customers can obtain information about new debuts, features, demos, prices, and other necessary details. Due to the variety of product alternatives and price comparisons offered by online retailers, there is a growth in the number of people purchasing online. Due of the lack of investment in physical stores, this is advantageous for merchants. Online shopping is becoming more and more popular since it allows customers to read reviews left by other customers, compare different stores and products, and check product prices from other sellers. As a result, the market for smoking pipes is expanding due to an increase in online sales channels.

For market players, the smoking pipe market in Asia-Pacific and LAMEA has significant smoking pipe market growth potential. Market expansion is primarily driven by rising consumer disposable income and an increase in the adoption of western lifestyles. Sales of smoking pipes have also surged as a result of young people's growing desire to smoking in order to look cool in society. The market participants might debut cutting-edge smoking pipes in Asia-Pacific, which offers prospective growth chances. Furthermore, due to the increasing usage of tobacco products, Latin American nations like Brazil are anticipated to present appealing commercial chances.

Instead of using cigarettes, nicotine replacement therapy is a procedure that has been recommended by doctors. It helps people stop smoking cigarettes or chewing tobacco. By drastically reducing cravings, nicotine replacement therapy can end the mental dependence on tobacco-based goods. Growing public awareness about the high rate of success of nicotine replacement therapy, including patches, lozenges, gum, and other items, is limiting market growth for smoking pipes.

According to the global smoking pipe market analysis, the global market is segmented into types, age group, distribution channel, and region. On the basis of types, the market is classified into bong, hookah, chalice, and others. Among these, the hookah segment occupied the major smoking pipe market share in 2021, and is projected to maintain its dominance during the smoking pipe market forecast period. The growth of the hookah segment is attributed to the growing demand for flavored hookah tobacco. However, the bong products segment is anticipated to grow at highest CAGR in the future for smoking pipe market size.

By age group, it is bifurcated into below 18 years, 18 to 30 years, 30 to 50 years, and above 50 years. The 18 to 30 years segment is anticipated to grow at the highest rate during the forecast period, owing to growing youth population in developing or underdeveloped regions.  

As per distribution channel, it is categorized into online and offline. The offline segment is anticipated to grow at highest CAGR during the forecast period, due to the growing sales of smoking pipe through specialty stores and tobacconist shops. The offline segment is creating new smoking pipe market opportunity for sales and distribution of smoking accessories in the global market.

In 2021, Asia-Pacific accounted for 37.2% in the global market, and is expected to maintain its dominance during the forecast period. However, North America and Europe are expected to possess the highest CAGRs, owing to rising population of smokers and growing trend of new flavors in terms of cigarette and hookah. This is one of the smoking pipe market trends in the global market.

Exporters in both developed and developing nations faced a number of difficulties as a result of the COVID-19 epidemic. The implementation of lockdown and curfew procedures on a global scale had an impact on both domestic and foreign manufacture of smoking pipes, which in turn hindered market expansion. As a result, the COVID-19 epidemic had a negative influence on the smoking pipe market in 2020 as a result of decreased company sales and operations being suspended.

The major players analyzed for global smoking pipe industry are Ashton Cigars, BBK Tobacco & Foods, LLP, British American Tobacco PLC, Bull Brand, C.Gars Ltd., Chongz, Imperial Brands, Jinlin (HK) Smoking Accessories Co., Ltd., Kristein Pipe Co. Inc, Missouri Meerschaum Company, Mr. Brog, Nording Pipes, Peterson, The Pipe Outlet, and Univac Furncrafts Pvt. Ltd.

KEY FINDINGS OF STUDY

• By types, the hookah segment was the highest revenue contributor to the smoking pipe industry, with $935.3 million in 2021, and is estimated to reach $1,413.7 million by 2031, with a CAGR of 4.3%.
• Depending on age group, the 18 to 30 years segment was the highest revenue contributor to the market, with $955.1 million in 2021, and is estimated to reach $1,378.0 million by 2031, with a CAGR of 3.8%.
• As per distribution channel, the offline segment was the highest revenue contributor to the market, with $1,748.6 million in 2021, and is estimated to reach $2,711.9 million by 2031, with a CAGR of 4.5%.
• Region wise, Asia-Pacific was the highest revenue contributor, accounting for $759.1 million in 2021, and is estimated to reach $1,206.3 million by 2031, with a CAGR of 4.8%.