Rise in herbal Smoking likely to augment the demand for smoking accessories during forecast period
The report published by WHO states that the demand for tobacco has fallen by 1.3 billion over the last 2 decades. Reduction in demand of the tobacco worldwide has boosted the demand for the herbs that can be used as alternative for tobacco hookah and other smokable products. Rise in consumption of various smokable medicinal herbs like Mullein, White Horehound, Hyssop, Korean Ginseng etc has boosted the demand for smoking accessories market over the forecast period.
Vaporizer and Water Pipes being significantly safe which likely to Boost the Demand of Smoking Accessories Market
Vaporizer and water pipes have captured a significant market share due to their filtration abilities and portability leading to increased demand for smoking accessories market. Vaporizers and water pipes have the ability to separate the tar produced from the burning of herbs due to which cannot enter into the body causing no harm.
Other smoking accessories like grinder and rolling paper are used for grinding and rolling of herbs leading to an increase in the quality of herb mixture for burning. Reduction in demand for tobacco hookah, rising awareness about nicotine-free alternatives is likely to boost the demand of smoking accessories market over the forecast period.
Emerging Economies Helping to Stabilize the Demand for Smoking Accessories Market
Emerging economies like China and India have shown considerable growth in tobacco consumption leading to increase in demand for smoking accessories in recent times. Moreover, shifting trends towards herbal and nicotine free smoking helping to augment the demand for smoking accessories market in developed economies like North America and Europe.
Various government initiatives and restrictions towards tobacco consumption is likely to uptick the demand for smokable herbs which in turn increases the demand for smoking accessories market. Moreover, developing economies showing the decrease in per capita consumption. However, increase in trend of smoking tobacco is likely to boost the demand for smoking accessories market.
Impact of COVID-19 on Smoking Accessories Market
The government-imposed lockdown has shut down all the transport of non-essential goods. Supply chain for all the smoking accessories has disrupted as all the wholesale and retail smoking accessories market has shut down owing to Covid-19 pandemic. Moreover, demand for tobacco and other legal smokable herbs has been decreased which is contributing towards decrease in demand for the smoking accessories market for short period of time.
Product Innovation and Product Launch are Prominent Strategies of Tier Player to Expand its Market Share
The prominent players in the market is likely to boost the technology adoption for their products in order to increase the quality of smoking owing to increased demand. For instance, hubbly bubbly, Inc. one of the prominent player in vaporizer manufacturing has launched E- heads that can adjust the vapour intensity and show the battery level of vaporizer.
Moreover, Dash Vapes, Inc. one of the prominent players has launched wide variety of vaping mods to enhance the quality of smoking. The prominent water pipes and rolling paper manufacturers are Roor, Empire Glassworks, Black Leaf, Elements Rolling Papers and RYO Accessories, OCB Rolling papers, Natural Emphasis Ltd etc. Elements Rolling Papers and RYO Accessories being one of the significant player has launched natural and ash free rolling paper to smoothen the smoking experience.
Smoking accessories market: Segmentation
Based on type, smoking accessories market is classified into the different parts based on types of accessories and application. Among all of the smoking accessories vaporizer and water pipes are one of the prominently used because of their filtration abilities.
Based on type smoking accessories market is segmented into
- Water Pipes
- Dab Rigs
- Rolling paper