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.
Smokeless
Tobacco Market Products
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.
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.
Competitive analysis
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)
Region Analysis
The global smokeless tobacco market is segmented into North
America, Europe, Asia Pacific, and Rest of the World. Among these, Asia Pacific
region is dominating the market over the forecast period. Asia Pacific region
is projected to expand at a CAGR of 4.55% during the review period. This is
attributed to high consumption of smokeless tobacco in this region.
Furthermore, Asia Pacific is projected to witness the highest growth rate
during the forecast period 2018-2023. In Asia Pacific, India is dominating the
market with market share of 71.6% in the year 2017.
Complete Report Details @ https://www.marketresearchfuture.com/reports/smokeless-tobacco-market-5959
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