Dublin, Oct. 16, 2024 (GLOBE NEWSWIRE) -- The "Smokeless Tobacco Products Market Size, Share and Trends Analysis Report by Product (Chewing Tobacco, Snuff) by Distribution Channel (Online, Offline) by Region 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global smokeless tobacco products market size is expected to reach USD 23.29 billion by 2030, expanding at a CAGR of 4.8% from 2024 to 2030. 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. 
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.
An 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.
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.
Growing demand for long lasting products among consumers will increase the growth of the chewing type in market. Moreover, increasing focus of the leading players on chewing product types due to its wide adoption in Asia Pacific countries will fuel its demand in the market. Companies are taking up strategies such as product launches and expanding their capacity so as to increase the market value of their product types in the market.
The market is recognized by a few initiatives such as mergers and acquisitions, online sales, limited extension, and developments endeavored by the key players in the business including Altria Group, British American Tobacco, Imperial Tobacco Group, Gallaher Group Plc, Universal Corporation, and Reynolds Tobacco Company.
Smokeless Tobacco Products Market Report Highlights
- By product, chewing tobacco is projected to grow at a CAGR of 5.6% over the forecast period. The snuff segment dominated the market with an share of 54.9% in 2023
- Asia Pacific dominated the global smokeless tobacco products market in 2023, accounting for 37.52% 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 smokeless tobacco industry is highly competitive in nature with the main players including Altria Group, British American Tobacco, Imperial Tobacco Group, and Gallaher Group
- Various manufacturers are concentrating on new product launches, capacity expansion, and product innovation to estimate existing and future demand patterns from upcoming product segments.
The leading players in the Smokeless Tobacco Products market include:
- Medical Device Business Services
- Altria Group
- British American Tobacco
- Imperial Brands
- Universal Corporation
- Reynolds Tobacco Company
- Swedish Match
- Japan Tobacco International
- Swisher International Group
- MacBaren Tobacco Company
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $16.81 Billion |
| Forecasted Market Value (USD) by 2030 | $23.29 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Smokeless Tobacco Products Market Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million)
3.3. Market Dynamics
3.4. Smokeless Tobacco Products Market Analysis Tools
Chapter 4. Smokeless Tobacco Products Market: Product Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Smokeless Tobacco Products Market: Product Movement Analysis, 2023 & 2030 (USD Million)
4.3. Chewing Tobacco
4.4. Snuff
4.5. Others
Chapter 5. Smokeless Tobacco Products Market: Distribution Channel Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Smokeless Tobacco Products Market: Distribution Channel Movement Analysis, 2023 & 2030 (USD Million)
5.3. Online
5.4. Offline
Chapter 6. Smokeless Tobacco Products Market: Regional Estimates & Trend Analysis
6.1. Smokeless Tobacco Products Market Share, By Region, 2023 & 2030 (USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis by Key Market Participants
7.2. Company Categorization
7.3. Company Heat Map Analysis
7.4. Company Profiles
- Medical Device Business Services
- Altria Group
- British American Tobacco
- Imperial Brands
- Universal Corporation
- Reynolds Tobacco
- Swedish Match
- Japan Tobacco
- Swisher International Group
- MacBaren Tobacco Company
For more information about this report visit https://www.researchandmarkets.com/r/4ckrt0
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