Roll-Your-Own-Tobacco Products Market Worth $9.95 Billion By 2027


Posted July 2, 2020 by sitakant

The global roll-your-own-tobacco products market size is expected to reach USD 9.95 billion by 2027, according to a new report by Grand View Research, Inc.,

 
The global roll-your-own-tobacco products market size is expected to reach USD 9.95 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.2% from 2020 to 2027. The relatively low price associated with roll-your-own (RYO) tobacco products as compared to factory-made (FM) or packaged cigarettes is expected to be a primary factor driving the market across the globe. RYO tobacco is subject to lower taxes in a large number of nations, resulting in easy access to the product.
These products have gained significant popularity among the financially stressed smokers across the world owing to their low price. In addition, several consumers opt for the product as they believe that RYO cigarettes are less harmful than factory-made (FM) cigarettes. This assumption has been encouraging smokers to shift to RYO from packaged cigarettes.
In terms of product, the filter and paper tip segment is expected to expand at the fastest CAGR of 4.7% from 2020 to 2027. These items are gaining traction among the consumers owing to their capability of reducing the intake of tur and other harmful elements while smoking. Furthermore, introduction of flavored and eco-friendly filters and paper tips has been enhancing the consumer experience and fueling the growth of the segment.

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Europe led the market in 2019 with over 55.0% share of the global revenue. Key markets of the region include U.K., Germany, France, Belgium, Netherlands, and Luxembourg. Over the past few years, the number of RYO cigarettes smokers has increased significantly in U.K. due to lower tax, lack of restrictions, and easy accessibility of the product.
Considering the rising concern about the environment among the consumers, competitors of the industry are introducing innovative and natural products and adopting eco-friendly packaging solutions to appeal to the consumers.
Roll-Your-Own-Tobacco Products Market Report Highlights
• In terms of product, the RYO tobacco segment dominated the market with over 40.0% share of the global revenue in 2019. New product launches in the flavored categories at the global level are expected to boost the segment growth in the near future
• North America is expected to expand at the fastest CAGR of 4.8% from 2020 to 2027 owing to increasing number of RYO smokers in U.S.
• By distribution channel, the offline segment dominated the market in 2019 with more than 85.0% share of the global revenue as consumers prefer to purchase from physical stores as they can test the quality of the product before buying
• The online distribution channel segment is expected to expand at the fastest CAGR of 5.8% from 2020 to 2027. This is attributed to growing popularity of online channels among consumers as convenient shopping platforms, which offer add-on benefits including cashback offers and coupons.

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Roll-Your-Own-Tobacco Products Market Segmentation
Grand View Research has segmented the global roll-your-own-tobacco products market on the basis of product, distribution channel, and region:
Roll-Your-Own-Tobacco Products Outlook (Revenue, USD Million, 2016 - 2027)
• RYO Tobacco
• Rolling Paper & Cigarette Tubes
• Injector
• Filter & Paper Tip
Roll-Your-Own-Tobacco Products Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
• Offline
• Online
Roll-Your-Own-Tobacco Products Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
• Europe
o Germany
o U.K.
o France
• Asia Pacific
o China
o Australia
• Central & South America
o Brazil
• Middle East & Africa
List of Key Players of Roll-Your-Own-Tobacco Products Market
• Imperial Brands
• British American Tobacco
• Scandinavian Tobacco Group A/S
• Altria Group, Inc.
• HBI International
• Curved Papers, Inc.
• Japan Tobacco Inc.
• Karma Filter Tips
• Philip Morris Products S.A.
• Shine Papers

For Inquire before buying please visit @: https://www.grandviewresearch.com/inquiry/450447/ibb

About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Issued By sitakant
Country United States
Categories Business , Industry , Manufacturing
Tags rollyourowntobacco products , rollyourowntobacco products forecast , rollyourowntobacco products outlook
Last Updated July 2, 2020