Unified Market Research distributed a report, named, “Smoking Accessories Market by Product Type (Grinder, Water Pipes, Rolling Paper, Vaporizer, Others), by Age Group (Below 18 Years, 18 To 30 Years, 30 To 50 Years, Above 50 Years), by Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2020-2030”. According to the report, the global smoking accessories industry generated $3.1 billion in 2020 and is anticipated to generate $6.3 billion by 2030, witnessing a CAGR of 6.5% from 2021 to 2030.
Prime determinants of growth
The market for smoking accessories worldwide is expanding as a result of the simple availability of water pipe items in both offline and online sales channels and their wide range of flavors. The market is expanding, though, as more people are becoming aware of the high success rate of nicotine replacement therapies such as patches, lozenges, gum, and other items. However, consumers’ assumption that waterpipe smoking is healthier than cigarette smoking since the smoke is filtered before inhalation creates new business potential in the years to come.
The water pipes portion to keep up with its administration status all through the conjecture period.
In 2020, the water pipes market segment, which accounted for more than two-fifths of the worldwide smoking accessories market, had the highest market share by product type. It is anticipated that it will continue to hold the top spot throughout the predicted period. The use of water pipes has grown in popularity in various settings, including parties, clubs, cafes, restaurants, hotels, lounges, and others. Additionally, the category for grinders is anticipated to exhibit the greatest CAGR of 9.0% between 2021 and 2030. The category is driven by the use of a smoking grinder to finely ground herbs, cannabis, and tobacco for a better smoke.
The disconnected portion to keep up with its lead position during the figure time frame
In terms of distribution channels, the offline sector accounted for the greatest share in 2020, making up 85% of the global market for smoking accessories. It is anticipated that this segment will continue to hold the top spot during the forecast period. Additionally, from 2021 to 2030, the same segment is anticipated to exhibit the highest CAGR of 6.5%. Specialty shops, convenience stores, and other establishments fall under offline. Small retail establishments known as specialty stores specialize in the sale of a certain product line and related goods. In addition to offering customers superior service quality and professional advice, the majority of specialty store business operators maintain considerable depth in the type of goods that they specialize in selling, typically at premium pricing. This element encourages segment expansion.
Asia-Pacific, followed by North America, to maintain its dominance by 2030
By region, North America and Asia-Pacific together accounted for about two-fifths of the world market for smoking accessories in 2020, with Asia-Pacific holding the biggest market share in terms of revenue. The market for smoking accessories in the Asia-Pacific region is expanding as a result of a rise in the use of these goods among young people. In addition, the LAMEA region is anticipated to experience the quickest CAGR of 7.6% throughout the projected period because of its rapidly rising middle class, exploding population, improved business laws, and increased urbanization.
When it comes to portability, the majority of bongs and pipes are quite accommodating. For the stoner who prefers taking potent hits while on the go, they are practical, simple to assemble, and ideal. To light up, all you need is some ground-up flower, a glass of your choosing, a lighter, and, if you’re using a bong, some water. A vaporizer, on the other hand, is your greatest friend when it comes to covertly smoking your preferred cannabis concentrates or dry herb if you’re the type of connoisseur who is concerned about your health and is seeking an alternative to carrying around an expensive glass pipe or bong.
We advise beginning with a portable vaporizer device for a cleaner smoke session wherever you go for beginners and the time-constrained stoner. Set aside carrying your marijuana collection. From this point on, all you’ll need is your vaporizer. Before leaving the house, simply top off your portable vaporizer with oil, concentrates, wax, CO2 oil, dried herb, or whatever your portable device accepts, and you’ll be good to go.