Report ID: SQMIG30L2138
Report ID:
SQMIG30L2138 |
Region:
Global |
Published Date: February, 2024
Pages:
265
|
Tables:
60 |
Figures:
75
North America generated the largest share in 2022, accounting for 65.7% of global sales. This region has the highest penetration rate for the product in comparison to all other regions due to the fact that the bulk of the product's key players—including J R Liggett Ltd. Inc., Plaine Products, and Osmia Organics, LLC—have bases in the U.S. Manufacturers are using marketing strategies such as expanding their retail network, merging with other companies, and launching new items. In western Canada, the company decided to grow by adding 10 new retail sites. These actions will ensure a sizable demand for the product for the foreseeable time.
Asia Pacific is the region's market with the fastest growth rate, by rising a CAGR of 8.2%. Manufacturers are releasing new items with a variety of themes, such as organic, herbal, and chemical-free, to entice consumers to buy their goods. The past several years has seen an increase in product introductions in Australia, New Zealand, and China.
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Report ID: SQMIG30L2138