Nov 30, 2021 (AmericaNewsHour) -- Research Nester published a report titled " Smokeless Tobacco Market : Global Demand Analysis & Opportunity Outlook 2028" which delivers detailed overview of the smokeless tobacco in terms of market segmentation by type, form, route, distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
Smokeless tobaccos are a group of tobacco products which are used by means other than smoking. Their usage involves chewing, sniffing, dipping and placing tobacco in between cheek or lip and gums. The global smokeless tobacco market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028 owing to the increasing demand for new innovative and flavoured tobacco products. These products are very appealing to the youth. Furthermore, these products are often advertised as an alternative to smoking tobacco which attracts people addictive to nicotine to adopt the usage of smokeless tobacco in the regions where smoking is banned.
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The adoption of snuff tobacco products as a premium product, presence of economical and convenient to use dry smokeless tobacco along with a strong offline retail presence of these products is expected to drive the market for smokeless tobacco globally.
Geographically, the global smokeless tobacco market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Currently, North American region holds the maximum market share on the back of increasing demand for snuff products in U.S., along with presence in different type of forms such as moist and dry forms. Asia-Pacific region is expected to record maximum CAGR in the forecast period on account of rising sales of low priced chewing tobacco products in Asian countries such as India, Pakistan and others.
Adoption of Flavoured Smokeless Tobacco by Young and High Income Demographic to Boost Market Growth
The popularity of flavoured tobacco products is on a rise and it has led to an addition of a new group of young and high income people as one of the end users of smokeless tobacco products. With this addition, market is expected to record a significant growth over the forecast period. However, rising health concerns due to the consumption of tobacco is expected to operate as key restraint to the growth of smokeless tobacco market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the smokeless tobacco which includes company profiling of Reynolds American, Inc. /zigman2/quotes/206376661/delayed UK:RAI 0.00% , Altria Group Inc. /zigman2/quotes/208895754/composite MO -1.12% , British American Tobacco PLC (lon:BATS), Imperial Brands PLC (lon:IMB), Japan Tobacco Inc. (tyo:2914), Swedish Match AB (sto:SWMA), Universal Corp /zigman2/quotes/203907099/composite UVV -1.14% , Mac Baren Tobacco Company A/S, Swisher International Group, Inc., and DS Group.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smokeless tobacco market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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