Smokeless Cigarettes Market Growth is attributed to widespread Distribution Through Offline Platforms

According to Precision Business Insights (PBI), the latest report smokeless cigarettes market was valued at USD 65,042.0 million in 2022, growing at an 15% CAGR during the forecast period 2023 to 2029. The imposition of restrictions on traditional cigarettes in public places by several countries has led to an increase in demand for smokeless cigarettes and propels the market. Furthermore, with the increased awareness of the health risks associated, people are turning to smokeless cigarettes as a possible less hazardous alternative. Moreover, peer pressure and social and psychological toll among teenagers and adolescent populations leading to increased stress and reliance on smoking habits prompt the increase of smokeless cigarette consumption. Thus, the market for smokeless cigarettes has grown significantly, and it is anticipated that this trend in consumer behavior will continue in the years to come.

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The smokeless cigarettes market is segmented based on type, distribution channel, and geography.
Based on the type, the market is segmented into the following:
• Electric
• Non-electric

Based on the distribution channel, the market is segmented into the following:
• Offline
• Online

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

The Offline Distribution Segment Dominates the Smokeless Cigarettes Market
Based on distribution channels, Offline distribution is dominated the market owing to the availability of smokeless cigarette products in a variety of hypermarkets, convenience stores, supermarkets, and other retail outlets. These companies provide the most convenient shopping experiences by having a large selection of e-cigarette products, forms, and flavors all in one place. Additionally, e-cigarette stores let customers test out these products before making a purchase decision. Moreover, underdeveloped and developing countries owing to lack of internet facilities prefer offline purchases of these products. For example, Dollar General Store Chains throughout the U.S. sell smokeless cigarettes when provided with valid age identification.

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North America Leads Smokeless Cigarettes Market
The smokeless Cigarettes market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for a significant share of the smokeless cigarettes market. The market is expected to grow at 15.9% CAGR over the forecast years owing to the United States and Canada having a presence of well-established product producers as well as a rising demographic advantage for retailers. Asia Pacific region is also anticipated to grow at 16.4% over the forecast period owing to the presence of a vast market for smokeless cigarettes in China offering many lucrative opportunities for foreign companies to participate in, given that the vast majority of smokeless cigarettes and electronic cigarettes are now manufactured and supplied from countries like China and other Asia Pacific countries.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players
Smokeless Cigarettes market further reveals that the key players increasingly adopting strategies such as the launch of newer products, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In March 2023, Altria Group, Inc. (Altria) acquired NJOY Holdings, Inc., the only pod-based e-vapor product company to receive marketing authorization from the FDA. NJOY e-vapor products will be marketed by NJOY, LLC (NJOY), a wholly-owned subsidiary of Altria. In October 2021, the U.S. Food and Drug Administration authorized the marketing of three new tobacco products - Vuse Solo Power Unit, Vuse Replacement Cartridge Original 4.8% G1, and Vuse Replacement Cartridge Original 4.8% G2, marking the first set of electronic nicotine delivery system (ENDS) products ever to be authorized by the FDA through the Premarket Tobacco Product Application (PMTA) pathway.

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Key player's profiles in the smokeless cigarettes market report are Altria Group Inc., British American Tobacco plc, JUUL Labs Inc., RELX Technology Co. Ltd., Imperial Brands Plc, Japan Tobacco Inc., Philip Morris International Inc., R.J. Reynolds Vapor Company, Fontem Ventures, NJOY Holdings Inc., Shenzhen Joye Technology Co. Ltd., Shenzhen IVPS Technology Co Ltd., Shenzhen Kanger Technology Co Ltd., Shenzhen Eigate Technology Co Ltd. and Flavourart SRL.

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This release was published on openPR.