New York, United States, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Growing concerns among various age groups about the detrimental effects of tobacco-based cigarettes have increased the demand for substantially less toxic e-cigarettes and vape goods, which is anticipated to stimulate market growth. According to a 2019 BMJ Journal report, around 20.8 percent of American adolescents and 4.5 percent of American adults are current e-cigarette smokers.
According to Straits Research, “The global smokeless cigarettes market size was valued at USD 24.19 billion in 2021 and is projected to reach USD 93.94 billion by 2030, registering a CAGR of 16.27% from 2022 to 2030.” For market participants in the smokeless cigarette industry, the demand for diversely flavoured products represents a lucrative opportunity. Similarly, technological developments in the primary smokeless cigarette industry are anticipated to contribute to the sector's growth. In addition, the vaping industry has established numerous organisations to oppose anti-vaping legislation and to regulate the sector for monitoring and promoting the development of the e-cigarette and vaping markets, which are anticipated to boost the smokeless cigarettes market's key trends and opportunities during the period 2022-2030. In recent years, regional government bans on the sale of vaping products and e-liquids in countries such as the United States and India have hindered the expansion of the smokeless cigarette sector.
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Growth Opportunities
Post-pandemic marketing and digital sales techniques based on COVID-19 are anticipated to boost market growth. According to a Campaign for Tobacco-Free Kids post, in May 2020, numerous e-cigarette manufacturers and vape shops marketed their goods by giving away protective masks and providing 19 percent off nicotine e-liquids with the code COVID-19. Consequently, the usage of vape devices is anticipated to expand during the projection period, particularly among recreational smokers and smokers attempting to quit.
Regional analysis
The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.
Due to the online presence of large firms selling e-cigarettes and vaping products, such as JUUL Labs Inc., North America placed first in terms of profit share in 2021, according to a survey of the smokeless cigarettes market in the United States and Canada. It is anticipated that the product would gain appeal throughout the region as more young people order smokeless cigarettes as a potential substitute for tobacco.
Asia-Pacific market size for smokeless cigarettes is predicted to expand at a CAGR of 16.2 percent between 2022 and 2030. It is anticipated that the presence of established product manufacturers in China and the rising demographic advantage for retailers would contribute to the expansion of the smokeless cigarette industry in the region.
The majority of e-cigarettes and smokeless cigarettes are currently manufactured and distributed by nations such as China and others in the Asia-Pacific region. The market for smokeless cigarettes in China presents numerous advantageous chances for international competitors.
Aside from this, the European smokeless cigarette industry is anticipated to expand significantly during the forecast period. E-cigarettes and vaping from companies such as British American Tobacco Plc's Vype and Imperial Brands Plc's Blu have been certified by European health regulators as a healthier alternative to tobacco smoking, which is expected to promote the growth of the smokeless cigarettes industry in Europe.
Key Highlights
- The electric segment was the largest revenue-generating segment in 2021 and is expected to maintain dominance in the forecast period.
- The offline distribution channel dominated the market in 2021
Competitive players in the global smokeless cigarettes market
- JUUL Labs Inc.
- British American Tobacco Plc
- RELX Technology Co. Ltd.
- Imperial Brands Plc
- Japan Tobacco Inc.
- Shenzhen Joye Technology Co Ltd.
- Shenzhen IVPS Technology Co Ltd.
- Shenzhen Kanger Technology Co Ltd.
- Shenzhen Eigate Technology Co Ltd.
- Flavourart Srl
Recent Developments by key players
In July 2021, BIDI Stick, a disposable e-cigarette business, released unique flavour names that were exact translations of existing flavours, such as Marigold, formerly known as Icy Mango; the Arctic, formerly known as Mint Freeze; and Solar, formerly known as Berry Blast. The method was developed to bypass any government-imposed restrictions on the sale of smokeless cigarettes by modifying the product's existing attributes.
In January 2019, Juul Labs Inc., a California-based manufacturer of electronic cigarettes, debuted e-cigarettes in India. This decision was made in order to expand the company's commercial presence, notably in Asia.
In February 2021, TAAT(TM) Lifestyle and Wellness Ltd. released TAAT, a nicotine- and tobacco-free cigarette. It is intended to be sold in Ohio via multiple e-commerce retail platforms.
The global smokeless cigarettes market segmentation
By Type:
- Electric
- Non-electric
By Distribution Channel:
- Offline
- Online
- Others
By Region:
- North America
- Asia Pacific
- Latin America
- Europe
- The Middle East and Africa
Get Detailed Market Segmentation @ https://straitsresearch.com/report/smokeless-cigarettes-market/segmentation
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