What is the global market size of Smokeless Cigarettes Market?

Smokeless Cigarettes Market size was valued at USD 24.5 billion in 2021 and is poised to grow from USD 28.42 billion in 2022 to USD 93.17 billion by 2030, growing at a CAGR of 16% in the forecast period (2023-2030).

Global Smokeless Cigarettes Market Size, Share, Growth Analysis, By Product Type(Non-Electric and Electric), By Distribution Channels(Offline and Online) - Industry Forecast 2024-2031

Report ID: SQMIG30J2008 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 59 | Figures: 75

Global Smokeless Cigarettes Market News

In February 2024, Shenzhen SKE Technology, a trailblazer in the vaping industry for over a decade, proudly introduces its latest innovation, MEMERS VAPE. MEMERS VAPE, positioned as the "advocate and innovator of electronic atomization technology and application," focuses on pioneering new technologies and innovations. It aims to spread the message of smoking cessation through its advanced electronic atomization products, targeting both smokers and e-cigarette enthusiasts.
In February 2024, Ispire Technology Inc. partnered with Touchpoint World Wide Inc. dba Berify, a platform specializing in linking physical products to the digital world, digital engagement and brand protection, and Chemular International Inc., a multidisciplinary regulatory consulting firm, to form a joint venture. The JV will look to expedite innovation in the e-cigarette technology space, including the development of secure, user-friendly solutions for age verification and age-gating nicotine vapor devices.
In June 2023, ITG Brands, a member of the Imperial Brands PLC family, announced the acquisition of a range of nicotine pouches from Canada-based manufacturer TJP Labs to enable future entrance into the modern oral nicotine market. ITG Brands currently manufactures a diverse range of cigarettes, cigars and vapor products.

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Global Smokeless Cigarettes Market size was valued at USD 29.54 Billion in 2022 and is poised to grow from USD 34.63 Billion in 2023 to USD 123.43 Billion by 2031, at a CAGR of 17.22% during the forecast period (2024-2031).

Global Smokeless Cigarettes Market is highly competitive, with several major players operating in the industry. Due to the presence of numerous international and regional firms, the market for smokeless cigarettes is fragmented. To expand their customer base and foster brand loyalty, these competitors are actively pursuing new customers and conducting promotional campaigns. 'Altria Group Inc.', 'British American Tobacco plc', 'Imperial Brands plc', 'Japan Tobacco Inc.', 'Philip Morris International Inc.', 'R.J. Reynolds Vapor Company', 'Fontem Ventures', 'NJOY Holdings Inc.', 'JUUL Labs Inc.', 'VMR Products LLC', 'MCIG Inc.', 'Turning Point Brands Inc.', 'Swedish Match AB', 'V2 Cigs', 'Shenzhen iSmoka Electronics Co. Ltd.', 'PAX Labs Inc.', 'NJOY Inc.', 'Japan Tobacco International SA', 'Shenzhen Kanger Technology Co. Ltd.', 'Gamucci Limited'

Increasing health awareness is one of the key drivers of the global smokeless cigarettes market. As people become more conscious of the health risks associated with smoking traditional cigarettes, they are turning to smokeless cigarettes as a potentially less harmful alternative. This shift in consumer behaviour has helped to drive the growth of the smokeless cigarettes market, and it is expected to continue to do so in the coming years. Smokeless cigarettes have become more advanced and efficient in recent years, making them more appealing to users. The development of more sophisticated devices and the use of higher quality materials have also helped to increase the appeal of smokeless cigarettes. Many countries have implemented regulations that restrict the use of traditional cigarettes in public places, which has led to an increase in demand for smokeless cigarettes as an alternative. In addition, regulatory changes have also helped to improve the safety and quality of smokeless cigarettes, which has further boosted demand.

Smokeless cigarettes are seen as a less harmful alternative to traditional cigarettes, as they do not involve combustion and produce fewer harmful chemicals. This is particularly appealing to smokers who are concerned about their health and are looking for ways to reduce their exposure to tobacco-related health risks. smokeless cigarettes are also becoming more popular among younger consumers, who are looking for alternative ways to use tobacco. This is driving the development of new smokeless cigarette products and technologies that are designed to appeal to this demographic. However, the growth of the smokeless cigarettes market is not without challenges. Increasing regulatory scrutiny and the potential for negative public perception of smokeless cigarettes may pose challenges to the growth of the market. Additionally, the long-term health effects of using smokeless cigarettes are not yet fully understood, and this may affect the market as more research is conducted on the safety and efficacy of these products.

North America is one of the dominating regions in the global Smokeless Cigarettes market. Due to the prominence of significant companies selling e-cigarettes and vaping goods on social media, such JUUL Labs Inc., North America accounted for the largest revenue share in 2022. The item is anticipated to grow in popularity in the region as more young people switch to smokeless cigarettes as a safer alternative to tobacco. The present restriction on several e-cigarette flavours in various U.S. distribution channels, however, is anticipated to partially restrain market growth. For instance, the U.S. Food and Drug Administration declared a ban on the internet selling of flavoured vapes.

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Global Smokeless Cigarettes Market Size, Share, Growth Analysis, By Product Type(Non-Electric and Electric), By Distribution Channels(Offline and Online) - Industry Forecast 2024-2031

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