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Market Size – USD 7.51 Billion in 2020, Market Growth - CAGR of 4.60%, Market Trends- Heavy taxes levied on tobacco products.
NEW YORK CITY, NEW YORK, USA, July 27, 2022 /EINPresswire.com/ -- The global roll-your-own tobacco product market size was valued at USD 7.51 Billion in 2020 and is estimated to reach USD 10.46 Billion in terms of revenue, at a CAGR of 4.60% through 2028. Lower costs of RYO tobacco products, taste preferences, and perceived lower health risks associated with the product are the key factors stimulating industry growth.
Handmade cigarettes or loose tobacco are subject to fewer regulations and less taxation. This has led to increased popularity of RYO tobacco products among lower annual income groups and financially weak consumers. The prevalent notion that RYO tobacco is natural and less harmful than factory manufactured cigarettes is fuelling product adoption.
The progressive tax increases on retail cigarette prices, primarily in the developed countries is offering lucrative opportunities for the RYO tobacco products market growth. In addition, surging consumer demand for less expensive tobacco products to maintain their nicotine addiction will boost product proliferation in the coming years. However, growing awareness of the misconception RYO tobacco products being less harmful nature may restraint market growth to some extent.
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Top Profiled in Roll-Your-Own Tobacco Product Market Report: • Imperial Brands • Japan Tobacco International • HBI International • British American Tobacco • Scandinavian Tobacco Group A/S • Philip Morris International • Altria Group • Curved Papers • Karma Filter
Market Segmentation: By Products Outlook • RYO Tobacco • Rolling Paper & Cigarette Tubes • Injector • Filter & Paper Tip
By Distribution Channel Outlook • Offline • Online
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Key Takeaways of Roll-Your-Own Tobacco Product Market Report: • A comprehensive overview of the global Roll-Your-Own Tobacco Product industry. • Accurate market projections in terms of market size, share, and volume. • Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues. • Deep-dive analysis of the upcoming market trends. • Qualitative and quantitative analyses of Roll-Your-Own Tobacco Product Market. • Elaborate study of the leading regional markets in Roll-Your-Own Tobacco Product Market. • Complete overview of the market’s competitive landscape. • Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report: • North America o U.S. o Canada o Mexico
• Europe o Russia o U.K. o Germany o France o BENELUX o Rest of Europe
• Asia Pacific o China o Japan o India o South Korea o Rest of Asia Pacific
• Latin America o Brazil o Rest of Latin America
• Middle East & Africa o Saudi Arabia o U.A.E. o Israel o Rest of Middle East & Africa
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