Global Roll-Your-Own Tobacco Product Market to reach US$ 44.6 Billion by 2032- FMI
The global roll-your-own tobacco products market is estimated to garner US$ 44.6 Billion while exhibiting a 3.8% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 30.8 Billion in 2022.
The roll-your-own tobacco product’s consumption has been increasing in the developed economies. The main factor boosting the growth of the roll-your-own tobacco product market is the low health risk associated with RTO tobacco and the less price associated with them.
The rising urbanization and the expanded prominence of cigarettes among the youth are the key elements driving the development of the market. The increasing health consciousness among the population changes the prevalence of smoke globally, leading to a decrease in sales of tobacco this may hinder the growth of the market. The RYO tobacco segment is likely to offer remunerative opportunities for the global roll-your-own tobacco product market. Several emerging economies are making significant developments in their technological sector, thereby, providing lucrative opportunities to players in the market.
Key Takeaways from the Market Study:
By product, the RYO Tobacco segment accounts for a share of 39.5% in 2022-2032 By distribution channel, the offline segment accounts for a market share of 84.5% during the forecasting period. Market in UK to procure a market share of 64.5% during the assessment period Market in china accounts for 4.3% CAGR during the forecasting period.
“The rising disposable income and growing consumption of tobacco in women, as well as teenagers are expected to fuel the demand for roll-your-own tobacco product market over the forecast period,” says an FMI analyst.
Key players in the global roll-your-own tobacco product market are Imperial Brands; British American Tobacco; Scandinavian Tobacco Group A/S; Altria Group, Inc.; Philip Morris International; HBI International; Curved Papers, Inc.; Karma Filter Tips; Shine Brands; and Japan Tobacco International
Recent updates from the industry are:
In September 2020 – JTI (Japan Tobacco International) has extended its technology partnership agreement with Sauber Engineering AG (SEN), a leading player in technology and prototype development and part of the Sauber Group of Companies. Through this partnership, both companies will continue to collaborate on the development of precision engineering projects aimed at increasing the performance of the next generation of JT Group products. In March 2021- BAT Group (BAT) announces a strategic collaboration agreement with Organigram Inc., to focus on research and product development activities next-generation adult cannabis products, with an initial focus on cannabidiol (CBD). In July 2021-- Philip Morris International Inc. (PMI) announced an agreement to acquire Fertin Pharma A/S. This acquisition is a significant step forward on our journey toward delivering a smoke-free future—enhancing smoke-free portfolio, notably in modern oral, and accelerating progress beyond nicotine
Key Segments Covered in the Roll-Your-Own Tobacco Products Industry Analysis
Roll-Your-Own Tobacco Products Market by Product: RYO Tobacco Products Roll-Your-Own Tobacco Papers & Cigarette Tubes Roll-Your-Own Tobacco Injector Roll-Your-Own Tobacco Filter & Paper Tip
Roll-Your-Own Tobacco Products Market by Distribution Channel:
Offline Distribution of Roll-Your-Own Tobacco Products Online Distribution of Roll-Your-Own Tobacco Products
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global roll-your-own tobacco products market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product (RYO tobacco, rolling paper & cigarette tubes and injector and filter & paper tip) and by distribution channel (offline and online) across five major regions (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)