Electronic Hookah Market to grow at a CAGR of 13.4% during 2024-2028
The Electronic Hookah Market is expected to grow at a CAGR of 13.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1108.8 million. The electronic hookah market is experiencing a notable surge in adoption among millennial and Generation Z demographics, driven by cultural and demographic shifts. By July 1, 2023, millennials and Generation Z collectively represent a substantial consumer base, with Generation Z becoming the third-largest generation in Canada and projected to surpass millennials in numbers between 2038 and 2053. In China, the millennial population reached 320 million in 2023, accounting for 22% of the country's total population and contributing 28% of the total income among active consumers. These demographics hold significant spending power, making them a lucrative market segment for the electronic hookah industry.
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Technavio analysts predict that the Disposable subsegment will lead the Type segment during 2024 and 2028 The disposable segment is experiencing notable growth within the global electronic hookah market, catering to consumers desiring a hassle-free and user-friendly vaping experience. Disposable electronic hookahs offer convenience, eliminating the complexities associated with traditional hookahs or reusable devices. These devices are pre-filled with e-liquids and require no refilling or charging, making them an attractive option for both novice and experienced users. The plug-and-play nature of disposable electronic hookahs appeals to individuals seeking a convenient, portable vaping solution, particularly those who value ease of use and a lack of maintenance requirements.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish growing disposable income among consumers
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The Electronic Hookah Market is experiencing significant growth due to the increasing popularity of e-hookahs as modern smoking alternatives. These battery-powered devices heat e-liquids infused with dessert flavors, offering a more convenient and healthier lifestyle option compared to traditional hookahs. Flavor innovation is a key driver in the market, with an expanding range of dessert flavors and non-traditional tobacco product offerings. E-commerce and online channels have made e-hookahs easily accessible, with disposable and rechargeable options available from brands like Timesvape and RNV Designs. However, public health considerations and health hazards associated with nicotine concentrations and vaping culture remain concerns. E-hookahs use e-liquids instead of tobacco, but flavor selections can still include traditional hookah favorites like mint, apple, and watermelon. Mechanical ecigarettes (mods) and e-hookahs offer customizable temperature controls and battery life, adding to their appeal. As the market continues to evolve, it's essential to consider both the benefits and potential risks of this modern smoking alternative.
The global leisure products market, a segment of the larger household durables market, encompasses categories such as sports equipment, musical instruments, camping gear, recreational vehicles, bicycles, toys, and consumer-oriented games. According to Technavio's market analysis, the household durables market size is determined by the collective revenue generated by manufacturers of household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. Factors driving the growth of this market include the increasing trend of health and fitness, with memberships in health and fitness clubs experiencing steady growth over the past decade and a rapid expansion of these clubs due to the industry's promising prospects.
The Electronic Hookah Market is experiencing significant growth, fueled by the growing disposable income among consumers. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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