The report presents an in-depth assessment of the Global Smokeless Tobacco including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Smokeless Tobacco investments from 2020 till 2025.
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Top Leading Manufactures-
Altria Group, Inc., British American Tobacco PLC, Imperial Brands PLC, Japan Tobacco, Inc., Swedish Match AB, Swisher International Group, Inc, Harald Halberg Holding A/S, DS Group
Global smokeless tobacco market is forecasted to reach USD XX million by 2024 growing at a CAGR of 4.7% during the forecast period (2019 – 2024).
– The somkeless tobacco market is anticipated to grow due to growing smoking bans and awareness associated with cigarette consumption. The product choices are expected to evolve based on ease of use, cost and regulatory sights. Government authorities in various countries have increased the excise duty on cigarettes due to which consumers are inclined to opt for alternatives such as smokeless tobacco products as they cannot afford to buy cigarettes on a regular basis.
– Convenience in consumption of tobacco chewing bags is one of the major reason consumers are preferring smokeless tobacco products over cigarette. For instance, Denmark is witnessing significant growth in consumption of smokeless tobacco especially in chew bag form due to changing consumer preference.
Key Market Trends
Growing Demand of Flavored and Innovative Smokeless Tobacco Products
The prevalence of smokeless tobacco (ST) was low relative to smoking, the distribution of ST was highly skewed with consumption concentrated among certain segments of the population (rural residents, males, whites, low-educated individuals). But now it is being adapted by new demographics. The growth in ST sales is due to the flavored products: sales of flavored moist snuff products increased around 70% from last few years and contributed to _60% of the growth in the moist snuff category overall. Flavored smokeless tobacco products are particularly popular among youth. For instance, in US, the prevalence of flavored smokeless tobacco use among past 30-day smokeless tobacco users was 64.7% among high school students and 36.1% among middle school students in USA.
Increasing Consumption of Dry Smokeless Tobacco to Drive Market Growth in Asia Pacific
The growth of market in the Asia-Pacific is anticipated to be driven by governments initiatives to reduce the cigarette consumption by increasing prices and imposing additional taxes on cigarette. For instance, impending tax increase in Japan and India affecting on traditional cigarettes sales which is creating big opportunity for the growth of smokeless tobacco products. In Asia-Pacific, India is one of the prominent destinations of the smokeless tobacco market. In India, smokeless tobacco in some forms are illegal but the consumption of smokeless tobacco in the rural area is high. China has been reported to be the highest producer of smokeless tobacco in the world and it will continue to dominate the market growth in the future.
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–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Global Smokeless Tobacco Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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