Smokeless Tobacco Treatment Market Share, Trends, Opportunities, Projection, Revenue, Analysis Forecast Outlook 2024

Smokeless Tobacco Treatment market - 2019-2024

Smokeless Tobacco Treatment market – 2019-2024

Smokeless Tobacco Market is segmented by Type (Chewing Tobacco, Dipping Tobacco, Dissolvable Tobacco,Snuff), Form (Dry, Moist), Route (Oral, Nasal) & Geography

PUNE, MAHARASHTRA, INDIA, November 21, 2019 /EINPresswire.com/ —

Smokeless Tobacco Treatment market – 2019-2024

Market Overview
Global smokeless tobacco market is forecasted with growing at a CAGR of 6.8% during the forecast period (2019 – 2024).

The somkeless tobacco market is anticipated to grow due to growing smoking bans and awareness 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 due to which consumers are inclined to opt for alternatives such as smokeless tobacco products as they cannot afford to buy cigarettes on a regular basis.
Convenience in consumption of tobacco chewing bags is one of the major reason consumers are preferring smokeless tobacco products over cigarette. For instance, Denmark is witnessing significant growth in consumption of smokeless tobacco especially in chew bag form due to changing consumer preference.

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The following manufacturers are covered:
Pfizer Inc.
Perrigo Co. Plc.
Novartis
GlaxoSmithKline plc.
Habitrol
Johnson & Johnson Services Inc.
Fertin Pharma
Yesmoke
Cigna
Cambrex Corporation
Veracyte, Inc.

Scope of the Report

The smokeless tobacco market majorly covers the products such as chewing tobacco, dipping tobacco, dissolvable tobacco, and snuff. By form, the market is segmented in to dry and moist. By route, the market is segmented in to oral and nasal. The study also offers market analysis at a global level.

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Global Smokeless Tobacco Treatment Market is expected to grow at an approximate CAGR of 6.8% during forecast period, 2018–2024. Smokeless tobacco is a type of tobacco that is not smoked or burned. Like the tobacco that is smoked, smokeless tobacco is reported to cause cancer and develops addiction in the users.

This tobacco is generally chewed and can be available as moist snuff, and dissolvable tobacco. Factors such as increasing adoption of nicotine patch, growing FDA drug approvals against smokeless tobacco, strong clinical pipeline, and rising consumption of smokeless tobacco drives the market growth. However, limited availability of the products, changing regulatory framework and lack of awareness for smokeless tobacco treatments restraints the market growth during the forecast period.

The Global Smokeless Tobacco Treatment Market, by type is segmented into chewing tobacco, snuff/dipping tobacco, dissolvable tobacco. The market by treatment segment is divided into nicotine replacement therapy, medication, and psychological and behavioral treatments. Based on end-user, the market is segmented into hospitals & clinics, academic & research organizations, and pharmacies

Regional Analysis:

The Americas dominated the global market for smokeless tobacco treatment. This can be attributed due to increasing therapeutics demands for smokeless tobacco related diseases and presence of major market players within the region. Europe stood second in 2017 owing to high consumption of smokeless tobacco within the region and changing lifestyle changes. Moreover, the presence of developed economies like UK, Germany, France, and others within the region provides a driving force for the market to grow. Asia Pacific was projected to be the fastest growing region in 2017. Factors such as growing healthcare sector, increasing penetration of the market players within the region, and increasing government’s support for foreign investments drives the regional markets of the Asia Pacific region. On the other hand, the Middle East and Africa held least share in the global smokeless tobacco treatment market due to the presence of poor economies and low per capita income, especially within the African region. The Middle Eastern region is estimated to be a major market for the Middle East and African region.

Key Market Trends
Growing Demand of Flavored and Innovative Smokeless Tobacco Products

The prevalence of smokeless tobacco (ST) was low relative to smoking, the distribution of ST was highly skewed with consumption concentrated among certain segments of the population (rural residents, males, whites, low-educated individuals). But now it is being adapted by new demographics. The growth in ST sales is due to the flavored products: sales of flavored moist snuff products increased around 70% from last few years and contributed to ∼60% of the growth in the moist snuff category overall. Flavored smokeless tobacco products are particularly popular among youth. For instance, in US, the prevalence of flavored smokeless tobacco use among past 30-day smokeless tobacco users was 64.7% among high school students and 36.1% among middle school students in USA.

Increasing Consumption of Dry Smokeless Tobacco to Drive Market Growth in Asia Pacific

The growth of market in the Asia-Pacific is anticipated to be driven by government’s initiatives to reduce the cigarette consumption by increasing prices and imposing additional taxes on cigarette. For instance, impending tax increase in Japan and India affecting on traditional cigarettes sales which is creating big opportunity for the growth of smokeless tobacco products. In Asia-Pacific, India is one of the prominent destinations of the smokeless tobacco market. In India, smokeless tobacco in some forms are illegal but the consumption of smokeless tobacco in the rural area is high. China has been reported to be the highest producer of smokeless tobacco in the world and it will continue to dominate the market growth in the future.

Competitive Landscape

The smokeless tobacco market is fragmented. Leading key players in the smokeless tobacco products market focusing on increasing thier consumer base by leveraging opportunities posed by emerging markets of South East Asia to expand their revenue base. New product offerings both in moist and dry smokeless tobacco and acquisition of small players is expected to change the market dynamics during forecast period.

Table of Content: Smokeless Tobacco Treatment

1 Study Coverage

2 Executive Summary

3 Breakdown Data by Manufacturers

4 Breakdown Data by Type

5 Breakdown Data by Application

11 Company Profiles

12 Future Forecast

13 Market Opportunities, Challenges, Risks and Influences Factors Analysis

14 Value Chain and Sales Channels Analysis

15 Research Findings and Conclusion

16 Appendix

Continued …

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Source: EIN Presswire