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Global Smokeless Tobacco Market 2018-2022 | New Product Launches to Boost Growth | Technavio

August 30, 2018

LONDON--(BUSINESS WIRE)--Aug 30, 2018--The global smokeless tobacco market is expected to post a CAGR of close to 3% during the period 2018-2022, according to the latest market research report by .

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Technavio has published a new market research report on the global smokeless tobacco market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the increasing price of cigarettes due to which the average consumer cannot buy cigarettes on regular basis. Consumers, therefore, resort to purchasing other products, which is expected to contribute to the increasing demand for smokeless tobacco products. Over the last two decades, the price of tobacco has risen by over 300% globally. Also, several national governments have increased the excise duty on cigarettes which has further contributed to the increase in the price of cigarettes. Therefore, the increasing price of cigarettes and the rising number of consumers will drive the growth of the global smokeless tobacco market during the forecast period.

This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only:

In this report, Technavio highlights new product launches as one of the key emerging trends in the global smokeless tobacco market:

Global smokeless tobacco market: new product launches

The increasing number of product launches by players in the market is another positive trend that can influence the growth of the global smokeless tobacco market during the forecast period. Successful product launches enable the growth of the market along with the market player that has launched the product. Such developments increase the revenue flow of the company and expand its consumer base. Moreover, new product launches increase the market share of the player and give it a competitive advantage over other players in the market.

“Growing smoking cessation rates worldwide and rise in number of mergers and acquisitions are two other factors that are boosting the growth of the global market. Consumers who are trying to quit smoking are increasingly gravitating toward the use of smokeless tobacco products,” says a senior research analyst at Technavio.

Global smokeless tobacco market: Segmentation analysis

This market research report segments the global smokeless tobacco market by application (dipping tobacco, chewing tobacco, other smokeless tobacco) and geographical regions (APAC, EMEA, and the Americas).

The dipping tobacco segment led the market in 2017 with a market share of over 35%, followed by chewing tobacco and other smokeless tobacco segment respectively. During the forecast period, the other smokeless tobacco segment is expected to show the highest incremental growth followed by the dipping tobacco segment.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20180830005616/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

www.technavio.com

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SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 08/30/2018 11:57 AM/DISC: 08/30/2018 11:57 AM

http://www.businesswire.com/news/home/20180830005616/en

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