Market Research Report on Global Smokeless Tobacco Market Industry, 2021-2027

 Market Overview

The global smokeless tobacco market has witnessed continued demand during the last few years and is projected to reach USD 23,202.2 million at a CAGR of 4.41% by 2023 in terms of value. Owing to the increasing demand for cigarette alternatives the demand for smokeless tobacco is increasing across the globe. High consumption of smokeless tobacco in the emerging markets is driving the sales of the products.

Competitive Landscape

This report includes a study of strategies used in the market, mergers, and acquisitions and multiple product launch by smokeless tobacco market players. It further includes product portfolios and developments of leading players, which includes

  • Altria Group, Inc. (U.S.)
  • British American Tobacco PLC (U.K)
  • Imperial Brands PLC (U.K)
  • Japan Tobacco, Inc. (Japan)
  • Swedish Match AB (Sweden)
  • Swisher International Group, Inc. (U.S.)
  • MacBaren Tobacco Company A/S (Denmark)
  • Dharampal Satyapal Limited (India)
  • Amano Enzyme Inc. (Japan)

Downstream Analysis-

The global smokeless tobacco market is segmented into type, form, and route.

Among types, chewing tobacco segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register a healthy CAGR of 4.30% during the forecast period owing to the rising cigarette prices and ban of cigarette.

Among forms of smokeless tobacco, dry segment accounts for approximately 52.2% market share, followed by moist segment, accounting for 47.8% of the global smokeless tobacco market.

Among routes of consumption, oral segment is anticipated to retain its dominance throughout the forecast period. The segment is projected to expand at a healthy CAGR of 4.52% during the review period.

Market Forecast

Convenience in consumption tobacco chewing bags is the major driver behind the high growth of this segment. Denmark is one of the major countries with high consumption of smokeless tobacco in chew bag form. Chew bags contain loose tobacco leaf cut to a fine length. These have gained their popularity among the youth in the North America and Europe region. Innovative packaging and convenience are the major drivers behind the high sales of the product globally.

High taxes on tobacco products including cigarettes and smokeless tobacco has raised the concern of illicit trading of tobacco in various countries. This is one of the major challenges faced by the smokeless tobacco companies across the globe as this tends to cut down their profit margin and hamper high revenue generation. The practice of trading illegal tobacco is identified to be common in the Asia Pacific region and is increasing in Europe and North America.

All the factors are anticipated to boost the global smokeless tobacco market to expand at the CAGR of 4.4% during the forecast period of 2018-2023.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Comments

Post a Comment

Popular posts from this blog

Global Organic Fertilizers Market Report 2020 Share, Size, Trend, Market Analysis and Forecast to 2027

  Market Overview: Fertilizers are chemical or natural substance which is added to the soil or land so as to increase fertility. Organic fertilizers are fertilizers extracted from animal manure, plant extracts as well as minerals and vegetable matter. Since organic fertilizers are derived from natural substances, therefore, damage to the environment is less of a concern. Organic fertilizers are rich in growth hormones and micro nutrients as well as help to reduce the risk of diseases in humans, as they find their way to food as well. Due to depletion of soil quality, use of fertilizers is being propelled to help farmers to increase crop production, as well as the surge in crop acreage and requirement to increase crop production is encouraging farmers to use organic fertilizers. Organic fertilizers are selected according to the requirement of the nutrients by the crop. They have gained status globally, as they help in increasing the quantity as well as improve the quality produced. Comp
Read more

North America Cannabis Market - Industry Growth and Forecast – 2024

  Market Overview The cannabis market has shown rapid growth in the past few years owing to rapid demand increase for cannabis and related products. Market Research Future, who specializes in market reports related to the consumer and retail sector among others, recently published a report on this market. Expansion of the  North America cannabis market  is estimated with a  CAGR of 33%  in forecast period from 2016 to 2021. Medical uses of cannabis are one of the major uses that have driven the demand for the market especially in North America. Legalization of cannabis in many of the North American countries has led to creation of further demand and enhanced the growth potential of the market. Furthermore, introduction of different cannabis included products has led to expansion of the market size significantly. Utilization of cannabis to treat various medical ailments has been beneficial to the progress of the sector. Global Competitive Analysis A trend of volume-driven growth has bee
Read more

Healthcare RFID Market Report Predicts Impressive Growth by 2027 Just Published

  Healthcare RFID Market Radiofrequency identification (RFID) is used for patient monitoring, efficiencies in patient care, tracking, and provider satisfaction. RFID is a wireless system that exploits radio waves for collecting data from a tag attached to an object, for several purposes such as automatic identification, and tracking of objects. The rising concerns about inventory management, awareness about patient safety, and increasing acceptance of automation in the healthcare sector are the major factors driving the growth of the global  healthcare RFID market . Additionally, aggressive strategies adopted by the top players and the introduction of new products in the market are fueling the growth of the market during the forecast period. For instance, Alien Technology Corporation, a leader in RFID technology introduced RFID Reader with the ALR-F800-X, the product is known for its use in maintaining the workflow and efficiently handling the data. Also, the company is trying to expan
Read more