LONDON--(BUSINESS WIRE)--The global roll-your-own-tobacco products market is expected to post a CAGR close to 8% during the period 2019-2023, according to the latest market research report by Technavio.
Owing to the ban on flavored tobacco by regulatory bodies such as the US FDA, the diversity in product offerings and designs of rolling papers and filters has been key to the growing popularity of RYO tobacco products over the last few years. Several vendors are offering rolling papers in fruity flavors as well as alcohol-inspired flavors. These vendors are also increasingly offering sample kits of flavored rolling papers that enable consumers to try different flavors without having to purchase multiple packs. Vendors are also offering innovative designs for rolling papers to enhance the consumer experience. Therefore, innovations in the designs and flavors of rolling papers and filters are expected to boost the growth of the global RYO tobacco products market during the forecast period.
As per Technavio, the rising popularity of eco-friendly cigarette papers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global roll-your-own-tobacco products market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global roll-your-own-tobacco products market: Rising popularity of eco-friendly cigarette papers
Vendors are increasingly offering innovative, eco-friendly products such as treeless cigarette rolling papers and filter tips due to the rising environmental concerns among consumers. Also, manufacturers are increasingly producing rolling cigarette paper from organic sources such as fruit and vegetable pulp and cultivated cotton to reduce their dependence on cutting trees. Manufacturers provide filter roaches manufactured from organic, treeless paper. These rolling cigarette papers contain seed-infused cigarette filters that make smoking relatively safer by removing excess tar and nicotine. Upon disposal, these filters decompose with time and sprout plants. Thus, the growing trend of environmental awareness and responsibility is expected to remain prevalent throughout the forecast period.
“Apart from the rising popularity of eco-friendly cigarette papers, the increase in number of people quitting smoking, the growing popularity of non-combustible smoking products, and the steady consumer base of RYO tobacco products are some other aspects that are expected to boost market growth in the coming years,” says a senior analyst at Technavio.
Global roll-your-own-tobacco products market: Segmentation analysis
This market research report segments the global roll-your-own-tobacco products market by product (RYO tobacco, filters and tips, and rolling products) and geographical regions (Europe, APAC, North America, South America, and MEA).
The European region led the market in 2018, followed by APAC, North America, South America, and MEA respectively. During the forecast period, the European region is expected to continue dominating the global market as well as register the highest incremental growth due to the low cost compared with packaged cigarettes.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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