Roll-Your-Own Tobacco Product Market Is Likely to Experience a...

Roll-Your-Own Tobacco Product Market Is Likely to Experience a Tremendous Growth by 2031

Posted 2024-06-19 12:54:59

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Global roll-your-own tobacco product market is anticipated to grow at a moderate CAGR of 4.6% during the forecast period (2024-2031). High tobacco usage necessitates regulatory interventions and public health initiatives to address tobacco-related harm. Governments implement taxation policies, advertising restrictions, health warnings, and access controls to influence market dynamics. According to the World Health Organization, in July 2023, tobacco use is prevalent in low- and middle-income countries, with approximately 80.0% of the global tobacco users residing in these regions. As of 2020, the overall tobacco usage rate stood at 22.3% of the world's population, with 36.7% of men and 7.8% of women using tobacco products

The US's high healthcare costs owing to smoking-related diseases highlight the need for regulatory interventions to reduce tobacco use. Tobacco use has been identified as a significant contributor to various health issues in the US. According to the Centers for Disease Control and Prevention (.gov), In November 2023, approximately 28.3 million adults in the US are cigarette smokers, while around 2.8 million middle and high school students use tobacco products, including e-cigarettes. Tragically, smoking or exposure to secondhand smoke leads to the premature death of nearly half a million Americans annually, with an additional 16.0 million individuals living with serious smoking-related illnesses. Furthermore, the US invests over $225.0 billion each year in medical care for the treatment of smoking-related diseases in adults.

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Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

Segment Covered-

• By Product

• By Distribution Channel

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

Competitive Landscape- Altria Group, Inc., Imperial Brands PLC, Philip Morris International, Japan Tobacco Inc., and Scandinavian Tobacco Group A/S, among others.

Roll-Your-Own Tobacco Product Market Report Segment

By Product

• RYO-Tobacco

• Rolling Paper and Cigarette Tubes

• Injector

• Filter and Paper Tip

By Distribution Channel

• Offline

• Online

A full Report of Roll-Your-Own Tobacco Product Market is Available @ https://www.omrglobal.com/industry-reports/roll-your-own-tobacco-product-market

Roll-Your-Own Tobacco Product Market Report Segment by Region

North America