Smokeless Tobacco Market Will Expand at a Rate of 4.67% Between 2022 and 2030 and Reach USD 28.98 Billion by 2030 – Report by Market Research Future (MRFR)
Smokeless Tobacco Market size and trends Research Report: Information By Type (Chewing Tobacco, Dipping Tobacco and Dissolvable Tobacco), By Form (Moist and Dry), By Route (Oral and Nasal) -Competitive Market Growth, Size, Share and Forecast to 2030
New York, US, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Smokeless Tobacco Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Smokeless Tobacco Market Information by Type, Form, Route, and Region - Forecast till 2030”, the Smokeless Tobacco Market will be surging at a rate of 4.67% from 2022 to 2030, gaining a strong valuation of USD 28.98 Billion by 2030.
Market Synopsis
A tobacco type that is not burned or smoked is called smokeless tobacco. Various products in the market are dipping tobacco, chewing tobacco, snuff, dissolvable tobacco, and more. The smokeless tobacco industry can anticipate substantial growth in the following years, thanks to the surge in smoking bans and the rise in awareness of the toxicity of cigarette consumption.
The product demand will be burgeoning in the coming years, considering the ease of use, regulatory sights, and cost. Government authorities in several nations are increasing the excise duty on cigarettes. Consumers are, therefore; compelled to go for alternatives like smokeless tobacco products, given the rising cost of cigarettes. The convenience associated with tobacco chewing bags remains one of the top reasons for consumers to opt for smokeless tobacco products instead of cigarettes.
Smokeless tobacco comes in various added flavors such as apple, peach, strawberry, honeydew, honeysuckle, pineapple, prune, and champagne.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 28.98 Billion |
| CAGR | 4.67% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Type, Form, Route, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Easy Availability |
| Considered Less Harmful Than Cigarettes |
Market Competitive Landscape:
The important companies in the smokeless tobacco industry include
- 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)
Market USP Covered:
Market Drivers:
Convenient use, pleasant taste, lower health risk, and lower cost in comparison to smoking tobacco are the top factors fostering the sales of smokeless tobacco. Various flavors are added to smokeless tobacco, which attracts a large number of customers depending on their preferences. Also, the nicotine content present in the product is a lot more than in an average cigarette, which in turn attracts the attention of nicotine users, thereby bolstering the market share.
The demand for smokeless tobacco is especially high among the youth worldwide, given their willingness to explore new flavors. Dry leaf products are experiencing strong sales in developed nations, which is encouraging regional manufacturers to spend on different products like gutka, snuffs, and various smokeless types.
The mounting popularity of flavored products like berry, cinnamon, saffron, apple and vanilla, will offer attractive opportunities to smokeless tobacco developers. The soaring middle-class population worldwide further raises the preference for cost-effective products like roll, plug and twist leaf. In addition, the rise in people’s disposable income, particularly in emerging regions will be favorable for the worldwide market.
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Market Restraints:
The considerable production costs owing to the use of costly manufacturing technologies and the fluctuations in raw materials’ prices will be a major growth-hampering factor in the following years, for the market.
COVID 19 Analysis
Many industries have been considerably affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under lockdown, to control the rising cases. Owing to this, the demand and supply chain have been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials coupled with the COVID-19 pandemic have restricted the growth rate of the global market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth. Also, the emergence of vaccines for the novel coronavirus and the reopening of several production units worldwide would result in the re-initiation of the market soon.
Market Segmentation
By Type
Dipping Tobacco, Dissolvable Tobacco and Chewing Tobacco are the major types of smokeless tobacco in the market.
The chewing tobacco segment will be touching USD 28.98 Billion by 2030 and thriving at a rate of 4.67% over the review timeline.
By Form
Moist as well as dry are the key forms in which smokeless tobacco is available in the market.
The dry segment will most likely be leading the market between 2022 and 2030, capturing a healthy growth rate of 4.67% over the analysis period.
By Route
Nasal and oral are the types of routes in the market.
The oral segment will be generating substantial revenue by the end of the review period and also attain a 4.67% CAGR. Oral is the most preferred consumption route of smokeless tobacco among consumers, thereby elevating the oral tobacco route of consumption segment’s growth.
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Regional Insights
The Asia Pacific market for smokeless tobacco is at the forefront and will remain in the lead all through the assessment period. The Asia Pacific market will be clinching a CAGR of 4.55% in the coming years, thanks to the rise in government initiatives encouraging the use of smokeless tobacco in place of cigarettes. India is bound to capture a share of a whopping 71.6% in the regional market by 2030, surging at a rate of 4.75% between 2022 and 2030.
Initiatives taken by the government in the US to discourage consumers from consuming cigarettes by increasing their prices while imposing taxes on them will be favorable for the smokeless tobacco market. Also, the strong efforts given by the several renowned tobacco companies present in the region and their focus on including new flavors will burgeon the customer base, while fostering the market size.
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