Smokeless Tobacco Market Overview Analysis, Trends, Recent Developments, and Forecast Till 2027 by Market Research Future (MRFR)
Market Research Future Insights
The
Smokeless Tobacco Market 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 Size 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 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 Smokeless Tobacco Market 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 Smokeless Tobacco
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
According
to the MRFR reports, the global Smokeless Tobacco Market Size is likely to
attain a over USD 28.6 Billion by the end of 2030 while flourishing at a
healthy CAGR of over 4.67% during the forecasted era.
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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Verticals and wherever required we will be considering Covid19 Footprints for
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us:
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