Roll-Your-Own Tobacco Product Market Major Companies, Forecast To 2028
Posted by Supriya Kokate on October 17th, 2021
The global roll-your-own tobacco product market size was valued at USD 7.51 Billion in 2020 and is estimated to reach USD 10.46 Billion in terms of revenue, at a CAGR of 4.60% through 2028. Lower costs of RYO tobacco products, taste preferences, and perceived lower health risks associated with the product are the key factors stimulating industry growth.
Handmade cigarettes or loose tobacco are subject to fewer regulations and less taxation. This has led to increased popularity of RYO tobacco products among lower annual income groups and financially weak consumers. The prevalent notion that RYO tobacco is natural and less harmful than factory manufactured cigarettes is fuelling product adoption.
The progressive tax increases on retail cigarette prices, primarily in the developed countries is offering lucrative opportunities for the RYO tobacco products market growth. In addition, surging consumer demand for less expensive tobacco products to maintain their nicotine addiction will boost product proliferation in the coming years. However, growing awareness of the misconception RYO tobacco products being less harmful nature may restraint market growth to some extent.
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Prominent players in the global roll-your own tobacco product market include Imperial Brands, Shine Brands, HBI International, Japan Tobacco International, British American Tobacco, Philip Morris International, Scandinavian Tobacco Group A/S, Altria Group, Inc., Karma Filter Tips, and Curved Papers, Inc., among others.
For the purpose of this study, Reports and Data, has segmented the global roll-your-own tobacco product market on the basis of product, distribution channel, and region:
Products Outlook (Revenue, USD Million, 2018- 2028)
- RYO Tobacco
- Rolling Paper & Cigarette Tubes
- Filter & Paper Tip
Distribution Channel Outlook (Revenue, USD Million, 2018 - 2028)
Regional Outlook (Revenue, USD Million, 2018 - 2028)
- North America
- Asia Pacific
- Latin America
Key findings in the Report:
- On the basis of product type, the filter and paper tip segment is estimated to showcase relatively faster-growth as compared to other products over the analysis period. The robust growth can be attributed to the rise in number of R&D activities focusing on removing a certain amount of tar, nicotine, and other harmful constituents from the RYO tobacco product. Moreover, the availability of various flavors options and introduction of biodegradable filters to attract consumers will further supplement segmental growth through 2028.
- Based on distribution channel, the offline distribution segment accounted for a major chunk of the global market share in 2020 and is expected to make significant revenue contributions over the projected timeframe. The offline segment is bifurcated among supermarkets, convenience stores, newsstands, pharmacies, liquor stores, and others. Growing utilization of retail environment by tobacco manufacturing companies to reach their customers with the help of advertising and promotional strategies may bolster segmental growth in the upcoming years.
- In the regional landscape, North America accounts for a major chunk of the global roll-your-own tobacco products market share and is estimated to observe a CAGR of 4.7% over the analysis period. The growing product demand from students, adults and the female population in the region is fostering market size.
- Europe held more than 55% of the roll-your-own tobacco product market in 2020 and is forecast to observe major growth through 2028. The robust growth can be attributed to the increasing tax on tobacco for retail cigarette and associated consumer shift towards RYO tobacco products.
Key Features of the Roll-Your-Own Tobacco Product Analysis Market Report:
- The report offers a comprehensive analysis of the changing competitive dynamics.
- Provides a futuristic outlook on the key market drivers and restraining factors.
- A comprehensive 8-year forecast of the market and its expected growth rate and pattern.
- In-depth analysis of the key product segments and application spectrum
- Provides strategic recommendations to the established companies and new entrants to provide a competitive advantage over the other companies.
- Comprehensive analysis of the key regions of the industry and provides a SWOT analysis and Porter’s Five Forces analysis to impart a deeper understanding of the market.
- Helps in formulating strategic business decisions and investments plans.
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