Smokeless Tobacco Market Size Outlook, Key Trends, Demand and Forecast to 2028
Market Overview
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.
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.
All the factors are anticipated to
boost the global smokeless
tobacco market size to expand at the CAGR of 4.4% during
the forecast period of 2018-2023.
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.
Among routes of consumption, oral
segment is anticipated to retain its dominance throughout the forecast period.
The segment is projected to expand at a healthy CAGR of 4.52% during the review
period.
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Competitive analysis
This report includes a study of
strategies used in the market, mergers, and acquisitions and multiple product
launch by smokeless
tobacco companies. 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.
Market Segmentation
The global smokeless tobacco market
is segmented by type, form, route, and region.
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