Market Research Future (MRFR) studied the Global Smokeless Tobacco Market 2020 across the analysis period till 2023. The expansion of the smokeless tobacco market can expand at 4.41% CAGR between 2017 and 2023. By 2023, the smokeless tobacco market can earn USD 23,202.2 Mn. A type of Tobacco that is not burned or smoked and is used as moist snuff or chewing tobacco or inhaled as dry snuff through smoke is termed as smokeless tobacco or cigarette.
COVID 19 virus is observed to have a detrimental impact on the respiratory system. Smokers are likely to be at a high risk to be afflicted by SARS-COV-2. The impact study of the pandemic on the smokeless tobacco market is studied in detail and insights are recorded in the report.
Banning Smoking Cigarettes to Pave Way for Market Expansion
The growing awareness about less harmful effects of smokeless tobaccos can support expansion of the market. The easy availability of these type of cigarettes is likely to add to the market upsurge. Escalation in banning of smoking cigarette and strict enforcement of no smoking norms by governments can contribute to the rise of the smokeless tobacco market.
Growing Demand for Nicotine Free Cigarettes to Increase Growth Opportunities
The surge in preference of nicotine free smokeless tobaccos products and increase in consumption of chew bags filled with smokeless tobacco can generate multiple scope of expansion for the market.
Stringent Regulatory Framework to Hinder Market Growth
Issues with the approval of innovation by regulatory bodies and strict regulatory framework can hinder the market growth. In addition, increase in measures taken to prevent illegal trading of tobacco can pose challenge to the market expansion. The implementation in restriction of marketing of new products is expected to impede the market rise.
The chewing tobacco segment can generate revenue of about USD 9.96 Bn by 2023. The segment can thrive at a 4.30% CAGR through the study tenure. The increase in demand for loose leaf, chew bags, and plug, twist can add to the expansion of the segment. The high convenience of consumption offered by chewing bags can gain high taction for different solutions that are available in the market, which can cause the smokeless tobacco market to expand. The increase in consumption of snus, moist snuff, and dry snuff can also favor market of the dipping tobacco segment.
The dry segment is likely to stay ahead of the growth curve along the analysis period 2017-2023. The segment is expected to thrive at 4.46% CAGR during the analysis period. The rise in consumption of dry tobacco and their growing preference among millennials can support the market growth in the analysis period.
The oral segment can acquire considerable revenue by 2023. The segment can likely to register a 4.52% CAGR through the review period. Oral is the usually preferred route of consumption of smokeless tobacco, thus increase in sales of oral tobacco consumption is expected to cause the market expansion at high excellent growth pace.
APAC Smokeless Tobacco Market Revenue to Increase
Asia Pacific smokeless tobacco market can retain its forefront position in global market through the review period. In Asia Pacific, the smokeless tobacco market size can touch 4.55% CAGR. The increase in consumption of smokeless tobacco can cause the regional market to thrive along the study period 2018-2023. India is likely to hold about 71.6% share of the regional market by 2023 and can rise at 4.75% CAGR.
US Smokeless Tobacco Market Size to Surge
Initiatives launched by government to curb the consumption of cigarette by hiking prices and imposing extra taxes on cigarette can impact the sales of traditional cigarette. This is expected to creating excellent opportunity for the smokeless tobacco products market in North America, thus, the regional market size can surge. The region is known to host different well-established tobacco companies that are responsible to earn decent revenue for the market in North America.
MRFR listed some of the well-established companies that are operating in the smokeless tobacco market. The competitive intelligence of the smokeless tobacco market discusses product benchmarking, financial analysis, and market share analysis. In addition, strategic and critical developments of the market are detailed, along with mergers & acquisitions, product launches, and joint ventures among others. Growth opportunities and contribution of key players to the regional rise of the market are elaborated in the report.
List of Key Companies Covered in this Report
Market estimates, sizing, and analysis for the smokeless tobacco market is covered in detail using market segment. The regional trends of the market and technological development of several companies in the region is studied in the report. Detailed tobacco industry analysis and activities of several chewing tobacco companies in the market are studied by MRFR to understand brand performance and market statistics are also offered in the report. Smokeless tobacco market report fully-cooked report published by MRFR on dynamics intelligence that details opportunities, trends, market drivers, restraints, supply chain, value chain analysis, and Porter’s five forces. Technology trends, regulatory landscape, and patent analysis outlook are other topics that are discussed in the report. MRFR plans and conducts several meeting with different industry experts, along with industrial visits to garner requisite information to offer in-depth knowledge to investors.
Frequently Asked Questions (FAQ) :
smokeless tobacco market size can touch USD 23.20 billion by 2023.
smokeless tobacco market can progress at 4.41% CAGR from 2018 to 2023.
The ban on cigarettes can drive the global smokeless tobacco market.
APAC will exhibit an eye-popping growth rate of 4.55% in the global smokeless tobacco market.
MacBaren Tobacco Company A/S, Altria Group, Inc., Swisher International Group, Inc., Japan Tobacco, Inc., Swedish Match AB, Dharampal Satyapal Limited, Imperial Brands PLC, and British American Tobacco PLC are major players of the global smokeless tobacco market.