Market Research Report
Smokeless Tobacco Market Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||704782|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Smokeless Tobacco Market Growth, Trends and Forecasts (2020 - 2025)|
|Published: April 1, 2020||Content info: 100 Pages||
Global smokeless tobacco market is forecasted to reach USD XX million by 2024 growing at a CAGR of 4.7% during the forecast period (2019 - 2024).
The smokeless tobacco market majorly covers the products such as chewing tobacco, dipping tobacco, dissolvable tobacco, and snuff. By form, the market is segmented in to dry and moist. By route, the market is segmented in to oral and nasal. The study also offers market analysis at a global level.
Growing Demand of Flavored and Innovative Smokeless Tobacco Products
The prevalence of smokeless tobacco (ST) was low relative to smoking, the distribution of ST was highly skewed with consumption concentrated among certain segments of the population (rural residents, males, whites, low-educated individuals). But now it is being adapted by new demographics. The growth in ST sales is due to the flavored products: sales of flavored moist snuff products increased around 70% from last few years and contributed to ?60% of the growth in the moist snuff category overall. Flavored smokeless tobacco products are particularly popular among youth. For instance, in US, the prevalence of flavored smokeless tobacco use among past 30-day smokeless tobacco users was 64.7% among high school students and 36.1% among middle school students in USA.
Increasing Consumption of Dry Smokeless Tobacco to Drive Market Growth in Asia Pacific
The growth of market in the Asia-Pacific is anticipated to be driven by government's initiatives to reduce the cigarette consumption by increasing prices and imposing additional taxes on cigarette. For instance, impending tax increase in Japan and India affecting on traditional cigarettes sales which is creating big opportunity for the growth of smokeless tobacco products. In Asia-Pacific, India is one of the prominent destinations of the smokeless tobacco market. In India, smokeless tobacco in some forms are illegal but the consumption of smokeless tobacco in the rural area is high. China has been reported to be the highest producer of smokeless tobacco in the world and it will continue to dominate the market growth in the future.
The smokeless tobacco market is fragmented. Leading key players in the smokeless tobacco products market focusing on increasing thier consumer base by leveraging opportunities posed by emerging markets of South East Asia to expand their revenue base. New product offerings both in moist and dry smokeless tobacco and acquisition of small players is expected to change the market dynamics during forecast period.