Smokeless Tobacco Products Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report Till 2025
“The global smokeless tobacco products market size was accounted for USD 13.6 billion, in 2018 and is anticipated to grow at 7.2% CAGR over the forecast period, 2019 to 2025.”
The global Smokeless Tobacco Products Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The global smokeless tobacco products market size is projected to touch USD 22.2 billion by the year 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 7.2% through the forecast period of 2019-2025. The consumer’s attraction for new products and modish packaging, particularly in the segment of chewing tobacco is driving the growth of the market. Furthermore, extreme changes in advertising and promoting chewing tobacco in countries like South Africa and Algeria will increase the product demand during 2019-2025. Key Players:
Altria Group British American Tobacco Imperial Tobacco Group Gallaher Group Plc Universal Corporation Reynolds Tobacco Company Swedish Match AB Japan Tobacco, Inc. Swisher International Group, Inc. MacBaren Tobacco Company A/S
Request free sample to get complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-smokeless-tobacco-products-market/requestsample Growth Drivers: Growing inclination towards several flavored smokeless tobacco products like vanilla, saffron, berry, apple, and cinnamon help in providing a profitable opportunity for the smokeless tobacco market. Consumption of various flavors is increasing due to inclination of customers towards new product variants available in the market. Growing middle class population is also driving the demand of the costeffective variants like roll, plug type and twist leaf in the industry. Further, rising disposable income, is projected to drive the growth of the market over the forecast period. The adoption of a vogue lifestyle amongst consumers has influenced the growth of products and forms of tobacco available in the market. The low price of the smokeless product category when compared to the products of smoked tobacco is also contributing in driving the market growth. Furthermore, increasing number of vetoes on cigarettes in several countries as well as awareness regarding its consumption, is projected to propel the growth in the forecast period. Product Outlook:
Chewing Tobacco Snuff
Distribution Channel Outlook:
Online Offline
The online distribution channel is the fastest developing channel, growing at 8.6% CAGR in the forecast period. The online sector has witnessed an increase in sales owing to the manufacturers selling a variety of products to the consumers through their own online channels of distribution. The online channel of distribution is majorly accessed by the younger age groups who prefer changes in their lifestyle. However, offers, deals and discounts on various items available online as well as rising number of onl ine distributors specifically in countries like Canada and U.S., are driving the market growth of the channel in the forecast period. Regional Outlook: North America ruled the market with 37.9% share, in 2018. Increasing demand of snuff products along with its various types like moist and dry, is driving the market growth. In U.S., the moist snuff market went from 1.37 million cans in 2013 to 1.5 million, in 2017 and is projected to grow at 6.1% CAGR in the forecast period. Furthermore, the increase in spending on dissolvable product categories, in U.S., in form of strips and sticks is projected to boost the market growth regionally in the forecast period. Asia Pacific is anticipated to be the fastest developing regional market, expanding at 8.7% CAGR in t he forecast period owing to increasing sales of moderately priced chewing category of smokeless tobacco in countries like India, Pakistan and Bangladesh. The chewing tobacco market in India is projected to expand at a healthy CAGR over the forecast period. There is high demand of chewing tobacco products amongst old age population and women in Pakistan and India. About 19.3% women in Pakistan and 20% women in India consume chewing tobacco variants like pan masala and tobacco leaf. Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
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