LONDON--(BUSINESS WIRE)--The global hookah charcoal market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The expansion of the middle-class population along with the increase in disposable income have led to higher demand for luxurious smoked tobacco products including hookah charcoal. Changing lifestyles and rapid urbanization have prompted bar chains and nightclubs to provide hookah as a key offering along with drinks and food items. Therefore, the increasing demand for smoked tobacco products such as hookah is expected to drive the demand for hookah charcoal in the forthcoming years.
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As per Technavio, the rising popularity of flavored hookah, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect the market growth over 2019-2023.
Global Hookah Charcoal Market: Rising Popularity of Flavored Hookah
Flavored hookah is gaining popularity among millennials and young smokers as it releases aromatic smoke which is more pleasant to inhale compared to non-flavored hookahs. Furthermore, there has been an increase in the popularity of hookah bars and cafes, especially in areas frequented by students and young adults. In addition, the growing number of food establishments offering varieties of hookah flavors along with premium alcohol and multicuisine food will further drive the hookah charcoal market growth during the forecast period.
“Apart from the rising popularity of flavored hookah, other factors such as the expansion of online distribution network and growing demand for natural charcoal are expected to drive the market growth during the forecast period,” says a senior analyst at Technavio.
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Global Hookah Charcoal Market: Segmentation Analysis
This market research report segments the global hookah charcoal market by distribution channel (offline and online), and geographical regions (APAC, Europe, North America, MEA, and South America).
APAC led the market in 2018, followed by Europe, North America, MEA, and South America respectively. During the forecast period, factors such as high disposable income, urbanization, and market expansion of leading global brands in the emerging economies including India and China will contribute to the growth of the hookah charcoal market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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