Global Roll-Your-Own (RYO) Tobacco Product Market to reach USD 9.99 billion by 2027.Global Roll-Your-Own (RYO) Tobacco Product Market is valued approximately at USD 7.49 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.20% over the forecast period 2021-2027.
The U.S. current-account deficit increased and reached US$ 234.8 billion in Q4 2021. However, the Canadian Dollar exchange (CAD) increased by 29.9% in Q1 22 to reach US$ 294.4 billion, widening the imbalance by US$ 68.6 billion. In the first quarter of 2022, exports of goods and services rose by US$ 27.7 billion, totaling US$ 1.07 trillion. However, the nation’s goods and services deficit decreased to US$ 79.9 billion in June from US$ 87.9 billion in May, which was corrected, a US$ 5.7 billion decrease that indicated some relief. On the other hand, the annual inflation rate in the country hit 8.7%.
RYO tobacco products are usually made by using cigarette papers and loose tobacco. Trend of adopting less expensive substitute of cigarette to maintain addiction of nicotine is benefitting RYO tobacco products market. Easy availability over internet and local retail shops, less expensive than factory made tobacco and new product launches by market players with different flavors are boosting the market demand.
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For instance, in November 2019, Imperial Tobacco launched a combi-pouch for roll-your-own-tobacco brand Riverstone which includes 30g of easy-to-roll tobacco, 60 filters, and 60 papers. Furthermore, introduction of environment friendly paper tips and filters and rising consumption among students and females are expected to impact the market positively in coming years. However, risk of occurring health problems such as cardiovascular disease, lung cancer and others and stringent government regulations on tobacco products are anticipated to hamper the market growth during forecast period. For instance, according to May 2020 report of World Health Organization, tobacco is one of the biggest health threats that kills over 8 million people in a year globally.
Among Asia Pacific, North America, Europe, Latin America, and Rest of the World, Europe is the significant region across the world in terms of market share due to growing demand of product because of high smoking rate. Whereas North America is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to growing popularity of roll-your-own tobacco products among students, young adults and female population especially in United States. Major market player included in this report are:
Shine Brands Imperial Brands British American Tobacco Japan Tobacco International Scandinavian Tobacco Group A/S Altria Group, Inc. Philip Morris International HBI International Curved Papers, Inc. Karma Filter Tips
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product: RYO Tobacco Rolling Paper & Cigarette Tubes Injector Filter & Paper Tip By Distribution Channel: Offline Online
By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
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Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
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