Japan Tobacco Inc. Company Introduced a New Line of Chewing Tobacco Products as an Alternative to Cigarettes
In February 2018, with an investment of over USD 917.43 million, Japan Tobacco Corp. introduced a new category of chewing tobacco products as an alternative to cigarettes. The market's expansion is also credited to an increase in products with premium and alluring packaging.
Increasing Consumer Demand for Flavored Chewing Tobacco Products will Fuel Market Expansion
The market for chewing tobacco, which includes snus, dissolving tobacco, and snuff, is predicted to expand significantly over the coming years because of its many advantages, including flavors like peach, apple, honeydew, strawberry, pineapple, honeysuckle, champagne, and prune. There was a significant skew in the distribution of chewing tobacco, with some population segments consuming the majority of it (rural residents, males, whites, and low-educated individuals). It has recently gained popularity among new demographics, especially young and wealthy people.
Availability of Alternative Products to Limit Market Growth
Alternative products considered safer or more practical than traditional chewing tobacco are increasing the rivalry in the chewing tobacco market. As an alternative to conventional tobacco products, e-cigarettes and other vaping gear have become popular recently. These products provide nicotine by using an electronic device that warms a liquid containing nicotine and other substances. The popularity of nicotine pouches, a relatively new smokeless tobacco product, has recently increased. Placed under the top lip are tiny pouches holding nicotine and additional flavorings. As a result, the market expansion will be constrained by the availability of tobacco substitutes.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the chewing tobacco market plan acquisitions to improve their brand recognition globally. For instance, in 2021, a chewing tobacco corporation, Phillip Morris International Inc., purchased the Danish snus producer AG Snus Aktieselskab and its portfolio of snus brands.
List of Key Players Profiled in the Report
- British American Tobacco PLC (BAT)
- Swedish Match
- Altria Group Inc
- Dharampal Satyapal Group
- Reynolds American Inc.
- Swisher International, Inc.
- Japan Tobacco, Inc.
- Imperial Tobacco Group PLC
- Reynolds American Inc.
- Manikchand Group
- J.D's Blend
- Tough Guy
- Stoker's Chew
- Levi Garrett
- The market in North America is expected to gain a huge portion of the global chewing tobacco market share in the coming years because more kids are developing the habit of chewing tobacco items use.
- The region's market is also expanding due to growing import operations for chewing tobacco products in nations like Mexico and Canada.
- In Asia Pacific, the growth in this region is primarily driven by substantial chewing tobacco product use in nations like China, India, and Japan.
|Market Size in 2022||USD 21.3 Billion|
|Market Forecast in 2030||USD 28.4 Billion|
|Compound Annual Growth Rate||4.90 %|
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Types, By Product and By Geography|