JULY 15, 2019: The global smokeless tobacco products market size is expected to reach USD 22.2 billion by 2025, according to a new report by Radiant Insights, Inc., expanding at a CAGR of 7.2% over the forecast period. The market is driven by consumer attraction towards new products and trendy packaging, especially in the chewing tobacco segment. Moreover, drastic changes in promotion and advertising of chewing tobacco in countries such as Algeria and South Africa have increased the demand over the forecast period.
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North America is anticipated to witness significant growth due to presence of a large consumer base, inclination towards use of premium product categories including snuff packaged in ready to use pouches, along with growing product launches in the market. Moreover, rise in sales of chewing product has been observed in Asia Pacific due to its growing adoption among the younger age groups. For instance, in 2017, in India, around 20% of women were addicted to chewing product types and around 19.3% in Pakistan.
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The market is driven by robust growth of the tobacco sector in Asia Pacific and North America, along with rise in the sales of chewing types used in the industry. The growth is also attributed to growing middle class population leading to rise in the disposable income of consumers. These consumers tend to be attracted to lifestyle and cost-effective products in the market. Moreover, growing purchasing power of consumers leading to adoption of premium types in the snuff segment with moist and dry forms is anticipated to drive the demand in market.
Increasing number of product launches in the snuff category such as without use of nicotine and less tobacco content in products will increase the demand for specialty and premium types in market. Moreover, impact of advertising campaigns, presence of a number of shops, cost effectiveness, and trendy lifestyle among consumers provide a lucrative opportunity for the global market.
Further key findings from the study suggest:
• By product, chewing tobacco is projected to ascend at a CAGR of 8.1% over the forecast period. The snuff segment dominated the market with an share of 56.3% in 2018
• North America dominated the global smokeless tobacco products market in 2018, accounting for 37.9% share of the total revenue. This trend is projected to continue over the next few years
• Growing industry on account of rise in trendy lifestyle and variation in flavors mainly in developing countries are further expected to propel the market growth
• The APAC market is anticipated to witness growth due to increasing disposable income in India, South Korea, China, and Japan
• The industry is highly competitive in nature with the main players including Altria Group, British American Tobacco, Imperial Tobacco Group, and Gallaher Group Plc
• Various manufacturers are concentrating on new product launches, capacity expansion, and product innovation to estimate existing and future demand patterns from upcoming product segments.
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Smokeless Tobacco Products Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
Chapter 5. Smokeless Tobacco Products Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2018 & 2025
5.2. Chewing tobacco
Continued…
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About Radiant Insights:Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
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Phone: (415) 349-0054
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For more information, Visit: http://www.radiantinsights.com
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 201 Spear St #1100, Suite #3036
City: San Francisco
State: California
Country: United States
For more information, Visit: http://www.radiantinsights.com
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