Market Research Future (MRFR) has published a cooked research report on the “Global Smokeless Tobacco Market” that contains information from 2018 to 2030. The Smokeless Tobacco market is estimated to register a CAGR of 4.67% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global Smokeless Tobacco market— Altria Group Inc. (U.S.), British American Tobacco PLC (U.K), Japan Tobacco Inc. (Japan), and Imperial Brands PLC (U.K).
Smokeless Tobacco Market Highlights
The global Smokeless Tobacco market is accounted to register a CAGR of 4.67% during the forecast period and is estimated to reach USD 28.6 billion by 2030.
The smokeless tobacco market encompasses products like chewing tobacco, snuff, and snus, which are consumed without the need for combustion. These products are designed to deliver nicotine and flavor through oral use, offering an alternative to traditional smoking. The market's growth is influenced by factors such as changing attitudes toward smoking, regulatory measures, and consumer preferences for potentially reduced-risk options.
Segment Analysis
The global Smokeless Tobacco market has been segmented based on Type, Form, and Route.
On the basis of Type, the market is segmented into chewing tobacco, dipping tobacco, and dissolvable tobacco. In terms of revenue from the smokeless tobacco market in 2022, the chewing tobacco segment held the overwhelming share. The demand for loose leaves, chew bags, and plugs is primarily to blame for this.
Based on Form, the global Smokeless Tobacco market has been segmented into moist and dry. market expansion The dry sector, which dominated the market in 2022, is predicted to grow at a CAGR of 4.67% throughout the course of the study. Millennials' growing preference for dry tobacco and increased use of it can help the market expand during the study period.
Based on Route, the global Smokeless Tobacco market has been segmented into oral and nasal. The oral held the largest segment share in 2022 and is likely to register a 4.67% CAGR through the forecast period.
Regional Analysis
The global Smokeless Tobacco market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Smokeless Tobacco market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Smokeless Tobacco market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Smokeless Tobacco market comprises of Middle East, Africa, and Latin America.
The Asia-Pacific Smokeless Tobacco Market dominated this market in 2022. During the study period, it is anticipated to increase at a substantial CAGR, reaching USD 19.3 billion in 2022. Asia Pacific is expected to have the greatest CAGR, which is attributed to rising sales of economic chewing tobacco products in countries like India, Bangladesh, and Pakistan. One of the main causes of smokeless tobacco's spectacular rise is the drop in cigarette smokers in the Asia Pacific region.
Due to rising smokeless tobacco consumption and the product's widespread availability, Europe has the second-largest market share for smokeless tobacco. Additionally, the UK smokeless tobacco market had the quickest rate of growth in the European region, while the German smokeless tobacco market had the largest market share.
Moreover, from 2022 to 2030, the North American smokeless tobacco market is anticipated to experience the fastest CAGR growth. Due to a rise in snuff product demand in the United States, For example, the market for moist snuff in the United States increased from 1.37 million cans in 2013 to around 1.5 million cans in 2017. In addition, the Canadian smokeless tobacco market had the quickest rate of growth in the Asia-Pacific area, while the U.S. market had the largest market share.
Key Findings of the Study
- The global Smokeless Tobacco market is expected to reach USD 28.6 billion by 2030, at a CAGR of 4.67% during the forecast period.
- The Asia-Pacific Smokeless Tobacco Market dominated this market in 2022. During the study period, it is anticipated to increase at a substantial CAGR, reaching USD 19.3 billion in 2022.
- Based on Type, In terms of revenue from the smokeless tobacco market in 2022, the chewing tobacco segment held the overwhelming share.
Altria Group Inc. (U.S.), British American Tobacco PLC (U.K), Japan Tobacco Inc. (Japan), and Imperial Brands PLC (U.K).
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Companies Covered | 15 |
Pages | 100 |
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