Will Price Hikes on Cigarettes Push More Consumers Toward Smokeless Options?
The Smokeless Tobacco Market Size is projected to hit USD 28.6 Billion by the end of 2030 at a CAGR of 4.67% during the forecast period of 2023- 2030.
The smokeless tobacco market is anticipated to grow due to growing smoking bans and mindfulness associated with cigarette consumption. The product choices are expected to evolve based on ease of use, cost, and regulatory sights. Government authorities in various countries have increased the excise duty on cigarettes. Consumers are inclined to conclude for alternatives analogous as smokeless tobacco products as they can't afford to buy cigarettes on a regular basis.
Convenience in consuming tobacco chewing bags is one of the major reasons consumers prefer smokeless tobacco products over cigarettes. Although the frequency of smokeless tobacco, analogous as chewing tobacco, snuff, snus and dissolved tobacco, is low relative to regular smoking, the market is expected to witness considerable growth over the times due to the benefits it possesses, analogous as added flavor like peach, apple, honeydew, strawberry, pineapple, honeysuckle, champagne, and prune.