Smokeless Tobacco Market Overview Of The Key Driving Forces To Create Positive Impact On The Industry Growth By 2030
Smokeless Tobacco Market Insights
The Smokeless Tobacco Market Size is projected to hit USD 28.6 Billion by the end of 2030 at a CAGR of 4.67% during the forecast period of 2023- 2030.
The smokeless tobacco market is anticipated to grow due to growing smoking bans and mindfulness associated with cigarette consumption. The product choices are expected to evolve based on ease of use, cost, and regulatory sights. Government authorities in various countries have increased the excise duty on cigarettes. Consumers are inclined to conclude for alternatives analogous as smokeless tobacco products as they can't afford to buy cigarettes on a regular basis.
Convenience in consuming tobacco chewing bags is one of the major reasons consumers prefer smokeless tobacco products over cigarettes. Although the frequency of smokeless tobacco, analogous as chewing tobacco, snuff, snus and dissolved tobacco, is low relative to regular smoking, the market is expected to witness considerable growth over the times due to the benefits it possesses, analogous as added flavor like peach, apple, honeydew, strawberry, pineapple, honeysuckle, champagne, and prune.
Regional Analysis
The growth of the smokeless tobacco market in the Asia- Pacific is anticipated to be driven by the government’s enterprise to reduce cigarette consumption by adding prices and imposing additional levies on cigarettes. For instance, the impending duty increase in Japan and India affects traditional cigarette deals, creating a big opportunity for the growth of smokeless tobacco products. In Asia- Pacific, India is one of the prominent destinations of the smokeless tobacco request. In India, smokeless tobacco in some forms is illegal, but the consumption of smokeless tobacco in rural areas is high. China has been reported to be the highest producer of smokeless tobacco globally and will continue to dominate the market growth in the future.
North America accounted for the maximum profit share of 47.9% in 2021 owing to the social media presence of major players used for selling- cigarettes and vaping products analogous as JUUL Labs Inc. With youthful people increasingly turning to smokeless cigarettes as a safer alternative to tobacco, the product is expected to gain popularity in the region. Still, the current ban on some e- cigarette flavors via various distribution channels, in the U.S. is anticipated to stifle market growth to some extent. For case, in September 2020, U.S. Food and Drug Administration announced a ban on the trade of flavored vapes on online platforms.
Japan Tobacco Inc. Announced its cooperation with Sauber Engineering AG, a prototype and technology innovator. Through this cooperation, the companies would continue to unite on enhancing the user experience of JTI's vaping products.
Market segmentation –
Product Outlook
· Non-electric
· Electric
Distribution channel Outlook
· Offline
· Online
Regional Outlook
· North America
· Canada
· Europe
· Germany
· France
· Asia Pacific
· China
· New Zealand
· Philippines
· Central & South America
· Middle East & Africa
· UAE
· South Africa
Key Players
JUUL Labs Inc; British American Tobacco Plc; RELX Technology Co Ltd; Imperial Brands Plc; Japan Tobacco Inc; Shenzhen Joye, Technology Co Ltd; Shenzhen IVPS, Technology Co Ltd; Shenzhen Kanger, Technology Co Ltd; Shenzhen Eigate, Technology Co Ltd; Flavourart Srl, RELX, a premium vape brand was launched in Saudi Arabia.
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