Roll-Your-Own Tobacco Products Market Growth & Trends
The global roll-your-own tobacco products market size is expected to reach USD 43.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030. The rising consumption of products among females and students is fueling the 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. The filter and paper tip segment is expected to register the fastest CAGR of 4.7% from 2021 to 2030. 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.
Europe dominated the market with a revenue share of 68.0% in 2021. According to a study, it is the artisanal appeal of RYO cigarettes that is driving sales amongst the young European population. 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 like berry, mint, licorice, and spearmint being few of them. The consumption of RYO cigarettes in the region is mainly concentrated among men who smoke regularly.
Mergers and acquisitions, and innovative product launches are some strategies used by companies to attract a wider audience base. To combat increasing tax rates on tobacco, key players are producing small packages of roll-your-own tobacco pouches, which makes it affordable for the majority of the population. Media, the internet, televisions, and social media are some tools used by companies to penetrate the audience and create brand awareness.
The market is highly competitive and dominated by large multinational manufacturing companies. Imperial Brands; British American Tobacco; Scandinavian Tobacco Group A/S; Altria Group, Inc.; Phillip Morris International; HBI International; Shine Brands are among the top prominent brands. The players face intense competition, especially from the top players in the roll your tobacco market, as they have a large consumer base, strong brand recognition, and vast distribution networks.
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Roll-Your-Own Tobacco Products Market Report Highlights
In Europe, the market is expected to witness a CAGR of 4.1% over the forecast period due to the presence of a large number of players and the high prevalence of smoking in the region
The rolling paper and cigarette tubes segment is expected to witness a higher CAGR over the forecast period owing to its availability in different flavors, and its appeal to price-conscious consumers
The offline segment held a majority of revenue share in 2021 due to players heavily relying on smoke shops and retailers for sales by normalizing tobacco use in daily life
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