WORLD
Smoking accessories market to reach USD 101 bln

The global smoking accessories market is anticipated to garner USD 101 billion while expanding at a CAGR of 4.2 per cent during the forecast period, according to a report by Future Market Insights.
The market is estimated at USD 64.3 billion in 2021 and USD 67 billion in 2022. Increasing adoption of organic makeup by consumers is expected to play a salient role in driving the market during the forecast period.
According to the report on Smoking Accessories Market by Future Market Insights, the demand for smoking accessories products is increasing, owing to the increasing disposable income of the consumers. The Smoking accessories market is dominated by the lighter segment, accounting for nearly 42 per cent share, owing to augmenting usage among the young population.
The growing culture of smoking among the young population along with an increasing number of smoking cafes and bars across various regions is propelling the market growth. The growing demand for smoking accessories in developing countries is further expected to fuel the market growth during the forecast period. Moreover, the easy availability of smoking accessories in diverse places is also contributing to market growth.
Key takeaways from the market study:
• Vaporizers to account for over 30 per cent market revenue in the smoking accessories domain
• Sales of smoking filter and paper tips to rise at a value CAGR of 4.3 per cent from 2022 to 2032
• Based on distribution channel, online sales of smoking accessories are estimated to record a 4 per cent CAGR
• Asia Pacific is likely to account for the majority share of nearly 43 per cent as of 2022
• North America is estimated to gain significant traction in the market, accumulating 38 per cent revenue
“An exponential growth in the number of smokers and the upward trend of smoking as a style statement especially among the young population has bolstered the demand for smoking accessories,” says an FMI analyst.

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