Roll-Your-Own Tobacco Product Market touched USD 29.5 billion in 2021 and is projected to reach USD 40.1 billion in 2029 growing at a CAGR of 3.9%.
The factors driving the growth of Roll your own Tobacco Product Market includes rise in the smoking population around the world, increasing consumption of tobacco products amongst millennials and availability of cigarette products at online platforms and retail stores. Moreover, introduction of innovative flavors such as mint, eucalyptus and berries, rapid urbanization and rise in the number of supermarkets, pharmacies, and liquor stores across the globe, are some of the additional factors supplementing the Roll-Your-Own Tobacco Products Market size. In addition, the increasing investments by major corporations on promotion and advertisements related activities, growing influence of social media platforms, rising disposable incomes and growing population growth rates, are further contributing to the market growth.
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However, growth of the Roll your own Tobacco Product Market is hindered due to growing popularity of e-cigarettes.
The prominent players operating in the Roll your own Tobacco Product Market are Japan Tobacco International, HBI International, Curved Papers, Inc., Karma Filter Tips, Shine Brands, Philip Morris International, Imperial Brands, Scandinavian Tobacco Group A/S, Altria Group, Inc., and British American Tobacco, among others.
Based on Product, the RYO Tobacco segment is predicted to capture the largest market share during the forecast period
Roll your own tobacco products are considered less harmful as compared to filtered cigarette and rise in the launch of chemical- and additive-free tobacco products, are some of the factors pushing the growth of the segment.
Based on Distribution Channel, the Offline segment is projected to hold the highest market share over the forecast period
Offline retail outlets such as liquor stores, supermarkets and local newsstands offer wide range of tobacco products at a competitive rate, is propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Rise in the smoking population, easy availability of tobacco products at the online portals, increase in the launch of innovative flavors, rapid urbanization, and growing population growth rates, are some of the additional factors supplementing the market growth.
Key Development
- In 2021, Philip Morris International (PMI) planned to invest in tobacco and nicotine products, which will help the company to meet the demand of potential customers in the developed markets. These products are known as Next Generation Products (NGPs) will include e-cigarettes, snus, and heated tobacco products (HTPs).
Market Segmentation
Segmentation Market by Product
- Injector
- Rolling Paper & Cigarette Tubes
- Filter & Paper Tip
- RYO Tobacco
Segmentation by Distribution Channel
- Offline
- Online
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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The global roll-your-own tobacco product market size is expected to reach USD 10.38 billion by 2028 according to a new study by Polaris Market Research.
The report “Roll-Your-Own Tobacco Product Market Share, Size, Trends, Industry Analysis Report, By Product (RYO Tobacco, Rolling Paper & Cigarette Tubes, Injector, Filter & Paper Tip); By Distribution Channel (Offline, Online); By Regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa); Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Manufacturers in the market for roll-your-own tobacco product are offering a broad range of flavored cigarettes to engage with the younger generation.
Get Sample copy: https://www.polarismarketresearch.com/industry-analysis/roll-your-own-tobacco-products-market/request-for-sample Moreover, the ongoing financial crisis caused by the global pandemic COVID-19 has shaken the economy as well as individuals, particularly in middle and low-income groups.
Price-sensitive consumers in the developing economies, due to lack of job and income have shifted towards low-cost alternatives, as their preferred choice.
According to the study done by the University College London (UCL) in 2018, roll your smokers are less likely to quit smoking as compared to factory-based cigarettes.
The Business Research Company published its Tobacco Products Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global tobacco products market.
The report covers the tobacco products market’s segments- cigarettes, cigars and cigarillos manufacturing, smoking and other tobacco products manufacturing cigarettes, cigars and cigarillos, chewing tobacco, dipping tobacco, dissolvable tobacco, and loose tobacco.View Complete Report: https://www.thebusinessresearchcompany.com/report/tobacco-products-global-market-reportTobacco Products Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It also compares the market’s historic and forecast growth.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Rise in cigarette alternatives, use of advanced cigarette filter technologies, and innovative product designs are the major trends witnessed in the global tobacco products market.
