The global roll-your-own tobacco products market is anticipated to bring in US$ 44.6 billion, growing at a 3.8% CAGR during the projection period. In the upcoming years, the market expansion is probably going to be fueled by the increasing backing from several governments. In 2022, it’s anticipated that the sector will generate $30.8 billion.
The popularity of roll-your-own tobacco products has grown in industrialized economies. The market for roll-your-own tobacco products is expanding mostly as a result of the lower health risks and lower cost of RTO tobacco.
The main factors influencing the market’s growth are expanding urbanization and cigarettes’ increased popularity among young people. Smoking is becoming less prevalent worldwide as a result of rising health consciousness, which lowers sales.
The worldwide market for roll-your-own tobacco products is projected to have lucrative potential in the RYO tobacco category. Numerous developing nations are making important technical advancements, opening up attractive chances for industry participants.
Key Takeaways from the Market Study:
- In terms of product, the RYO Tobacco category has a 39.5% market share from 2022 to 2032.
- During the forecasted period, the offline sector has an 84.5% market share by distribution channel.
- Market in the UK to gain a share of 64.5% throughout the evaluation period
- China’s market is expected to grow at a 4.3% CAGR throughout the forecasted period.
An FMI analyst predicts that throughout the projection period, “increasing disposable income and expanding tobacco usage among women and teens would boost the demand for roll-your-own tobacco product market.”
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 are major companies in the global market for roll-your-own tobacco products.