SAN FRANCISCO, Feb. 23, 2021 /PRNewswire/ -- The global roll-your-own tobacco product market size is expected to reach USD 10.42 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.2% from 2021 to 2028. The rising consumption of products among females and students is fueling market growth over the world. The adoption rate of the product is increasing among the youth in major economies, including the U.S. Moreover, the financial stress caused by the COVID-19 pandemic has encouraged numerous smokers to shift from factory-made cigarettes to hand-rolled cigarettes due to the cost advantage of roll-your-own (RYO) tobacco products.
Key suggestions from the report:
North America is expected to register the fastest CAGR of 4.7% from 2021 to 2028 owing to the increasing adoption of the product among the young consumers
By product, the filter and paper tip segment is expected to register the fastest CAGR of 4.7% from 2021 to 2028
Europe dominated the market by accounting for over 55.0% in 2020. The rate of smoking in the European countries has contributed to the growth of the market in the region
Offline distribution channel held the largest share of more than 85.0% in 2020
Read 80 page research report with ToC on "Roll-Your-Own Tobacco Product Market Size, Share & Trends Analysis Report By Products (RYO Tobacco, Filter & Paper Tip), By Distribution Channel (Offline, Online), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/roll-your-own-tobacco-products-market
The filter and paper tip segment is expected to register the fastest CAGR of 4.7% from 2021 to 2028. Rapid research and product development of new kinds of filters focusing on removing maximum tar, nicotine, and certain gases are estimated to fuel the segment growth. Furthermore, the introduction of biodegradable or environment-friendly filters is expected to boost the demand for filter and paper tips in the upcoming years.
Europe dominated the market with a revenue share of more than 55.0% in 2020. According to the World Health Organization (WHO), Europe reported the highest prevalence of smoking among adults (28%), with a percentage of the consumption trend observed among adolescents. Cigarettes witnessed the highest consumption among Europeans. The popularity of RYO cigarettes is on the rise among consumers due to the cost-effectiveness of the products and the availability of varied flavors. The consumption of RYO cigarettes in the region is mainly concentrated among men who smoke regularly.
Companies are looking to maintain their brand image and gain customer loyalty by upgrading their offerings according to customer specifications and studying consumer behavior patterns. Key players in the market are offering tobacco products in different sizes, flavors, and attractive packaging. These initiatives by manufacturers are propelling the global demand for premium roll-your-own tobacco products.
Grand View Research has segmented the global roll-your-own tobacco product market on the basis of product, distribution channel, and region:
RYO Tobacco Products Outlook (Revenue, USD Million, 2016 - 2028)
RYO Tobacco Product Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
RYO Tobacco Product Regional Outlook (Revenue, USD Million, 2016 - 2028)
List of Key Players of Roll-Your-Own Tobacco Product Market
British American Tobacco
Japan Tobacco International
Scandinavian Tobacco Group A/S
Altria Group, Inc.
Philip Morris International
Curved Papers, Inc.
Karma Filter Tips
Find more research reports on Alcohol & Tobacco industry, by Grand View Research:
Tobacco Market – The global tobacco market size was valued at USD 932.11 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 1.8% from 2021 to 2028.
U.S. Tobacco Market – The U.S. tobacco market size was USD 100.3 billion in 2016 and is expected to grow further over the forecast period.
Clove Cigarettes Market – The global clove cigarettes market size was valued at USD 99.45 billion in 2018 and is expected to expand at a CAGR of 4.5% from 2019 to 2025.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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