Roll your own Tobacco Product Market was worth USD 29.5 billion in 2021 and is projected to reach USD 40.1 billion in 2029 | Size, Share, Forecast Report

Roll your own Tobacco Product Market

Roll-Your-Own Tobacco Product Market size was valued USD 29.5 billion in 2021 and is projected to reach USD 40.1 billion in 2029 and the market will grow at a CAGR of 3.9%.

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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. As per the Global Adult Tobacco Survey (GATS), prevalence of smoking tobacco use in India was estimated around 10.38% and at the present, 28.6% population consume tobacco either in smoke or smokeless form, which is expected to push the demand for Roll your own Tobacco Products in the approaching years. 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.

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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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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This release was published on openPR.