Global Tobacco Market Size, Share & Trends Analysis Report 2020—2027 (PDF)
The Global tobacco market is expected to attain growth at a cagr of 2.9 % between 2020 to 2027, the market was valued at USD 855.25 billion in 2019. Growing demand for tobacco and tobacco-related products from developing countries such as India is anticipated to keep the market growth buoyant. Moreover increasing disposable income, growing demand for cigarettes & cigar, and availability of numerous tobacco-related products in the market is expected to further boost the market growth.
The tobacco companies are investing high in marketing and promotion of their products; for instance, tobacco companies in the United States spent over USD 9.06 billion for marketing and professional of tobacco and tobacco-related products. Out of these, nearly USD 8.4 billion was spent on promoting cigarettes and USD 650 8.5 million for the marketing of smokeless cigarettes. Companies have launched numerous technological products such as e-cigarettes, e-cigar, and e-pipes. However, the ban on e-cigarettes in countries such as India has slightly affected the overall market growth.
Although, the production of tobacco is decreased substantially in the United States; it is still the fourth-largest tobacco-producing country in the world after China, India, and Brazil. The cigarette sales in the United States is decreasing year on year since the last decade, for instance, nearly 258 billion cigarettes were sold in 2016 in the United States which decreased by 3.5% to 249 billion in 2017. The demand for cigar and smokeless tobacco is growing steadily in the United States.
Growing awareness towards the health impacts of tobacco such as cancer and pulmonary diseases is hindering the Global tobacco market growth. Additionally, e increasing government taxes on tobacco and tobacco-related products has significantly increased the price of these products which is is expected to impact market growth.
The Global tobacco market has been segmented based on product ID into smokeless tobacco, cigar & cigarillos, cigarettes, next-generation products, water pipes, and others. The cigarette segment dominated the Global tobacco market with a greater than 72 % market share in 2019. The demand for cigarettes is growing in developing countries especially in non-metropolitan cities as the number of smokers in the world is increasing at a moderate pace. Nearly 13.7 % or 34.2 million adults in the United States are cigarette smokers. The availability of a variety of cigarette products such as e-cigarettes and flavored cigarettes is expected to increased demand for these products in the upcoming few years. The commonly available cigarette flavors include Apple, coconut, orange, licorice, coffee, Cherry, and others.
The next-generation product segment is expected to attain the highest growth rate at a cagr of 11.1% in upcoming years. This segment includes various types of e-cigarettes and e-cigar. These products are preferably purchased from online platforms, China is the leading exporter of all types of e-cigarette and e-cigar products.
The Asia Pacific tobacco market is the largest market for all types of tobacco products in the world. Asian countries such as China, India, Vietnam, Philippines, Bangladesh, Malaysia, Thailand, and Indonesia have a high demand for tobacco products. This country is also producing a large quantity of tobacco each year which is exported throughout the world.
The Middle East and Africa region are expected to emerge as the fastest-growing region over the forecast period; middle Eastern countries such as Egypt, Nigeria, South Africa, Morocco are attracting high demand for tobacco-related products. Moreover the medicinal uses of tobacco-related products he is also increasing in the rural areas significantly.
Following is the list of top tobacco companies in the world that are profiled in this particular report:
Get a tailor-made report suitable to your budget. Connect with us to buy specific chapter, a country level report or just the datasheet of this report.