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Smokeless Cigarettes Market Status And Size Business Growth 2022 To 2030

09-22-2022 09:32 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: We Market Research

Smokeless Cigarettes Market

Smokeless Cigarettes Market

The Global smokeless cigarettes market is presently worth USD 28.42 billion and is poised to amplify at a CAGR of 16% over 2022-2030, thereby amassing a valuation of USD 125.4 billion by end of the assessment.

Global Smokeless Cigarettes Market: Overview

The smokeless cigarettes market is projected to grow as more people have become aware that e-cigarettes are healthier than regular cigarettes, mainly among the younger demographic.

Also, the convenient usage of these devices have enhanced customer acceptability that has also helped the smokeless cigarettes market to grow throughout the forecast period.

As a result of the rising indirect taxes over tobacco products in several economies, customers have chosen for substitutes that includes, smokeless tobacco products since they cannot afford to purchase cigarettes on a constant schedule.

Also, one of the other main reasons why people demand for smokeless cigarettes over traditional tobacco cigarettes is the ease with which they may avail other tobacco products from the local markets.

Key Market Trends:

Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the rising consumer awareness about the effects of tobacco consumption. Also, the shifting consumer preference toward nicotine-free cigarettes is because of the risk of cancer of the head, throat, neck, oesophagus, and also oral cavity that has driven the market growth.

Additionally, the increasing awareness among consumers, mainly the millennials and Gen Z in regards to the health hazards associated with smoking has also resulted in high demand for alternatives to traditional cigarettes, such as e-cigarettes, which will adapt well to market growth over the forecast period.

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Segmental analysis of the Market:

Based on Product
• Non-electric
• Electric

The electric segment has dominated the market growth over the forecast period. This is because of rising consumer adoption of convenient smoking with the availability of low-cost products.

Based on Distribution Channel
• Offline
• Online

The offline segment has dominated the market growth over the forecast period. This is because the e-cigarette store allows customers to try out and test these devices before making a purchase decision.

North America is anticipated to amplify at a considerable CAGR

The global smokeless cigarettes market is segmented into 5 main regions namely, North America, Europe, Asia Pacific, South America, and Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of the social media presence of major players that is used for selling e-cigarettes and vaping products over the forecast period in the region.

Competitive Landscape:

Some of the prominent companies operating in the market are
• JUUL Labs Inc.
• British American Tobacco Plc
• RELX Technology Co. Ltd.
• Imperial Brands Plc
• Japan Tobacco Inc.
• Shenzhen Joye Technology Co Ltd.
• Shenzhen IVPS Technology Co Ltd.
• Shenzhen Kanger Technology Co Ltd.
• Shenzhen Eigate Technology Co Ltd.
• Flavourart Srl

Major questions answered in this report:

• What is the growth rate of the global smokeless cigarettes market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?

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Key takeaways from the report:

• The global smokeless cigarettes market is projected to expand at a CAGR of 16% over the forecast period.
• The rising consumer awareness about the effect of tobacco consumption is aiding market progression.
• The offline segment is poised to expand significantly over the forecast period.
• North America has dominated the regional market sphere over the forecast period.

Contact Us:
We Market Research
Phone: +1(929)-450-2887
Email: sales@wemarketresearch.com

About We Market Research

WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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