Tobacco Market Size & Share Report, 2020-2027

4.4
Tobacco Market Size & Share Report, 2020-2027

The Tobacco Market was valued at USD 913 billion in 2019, growing at a CAGR of 2.1% over the forecast period (2020-2027).

Tobacco Market

The Tobacco Market was valued at USD 913 billion in 2019, growing at a CAGR of 2.1% over the forecast period (2020-2027).

The factors driving the growth of Tobacco Market includes increasing number of smokers around the world, rising consumption of cigarettes amongst the young population and growing investments on the marketing strategies by the large corporations to make tobacco products more attractive. According to the Annual Cigarette Report published by the Federal Trade Commission, the number of cigarettes sold by the Companies in the United States to wholesalers and retailers has significantly increased from USD 202.9 billion in 2019 to around USD 203.7 billion in 2020, which is expected to boost the Tobacco Market size in the approaching years. Moreover, the continuous innovation in the tobacco products, increasing nicotine addiction and the rising trend of machine-made clove cigarettes, are some of the additional factors supplementing the Global Tobacco market share. In addition, increasing working population, growing popularity of e-cigarettes, hectic lifestyles and growing adoption of western cultures are further propelling the Global Tobacco Market size.

However, the increase in the cases of lung cancer due to smoking tobacco products is hampering the growth of Tobacco Market.

The major players operating in the market are Philip Morris International Inc., Japan Tobacco Inc., Scandinavian Tobacco Group, British American Tobacco p.l.c. (BAT), Altria Group, Inc., Altadis SA, ITC Limited, Hongyunhonghe Tobacco (Group) Co., Ltd and Imperial Brands PLC among others.

Type: Segment Analysis

Based on Type, the Cigarettes segment is anticipated to capture the largest market share during the forecast period. The increasing attraction towards cigarettes products amongst the young population and the influence of western culture on the Asian and African Countries, are some of the factors responsible for the growth if the segment.

Distribution Channel

Based on Distribution Channel, the Convenience stores segment emerged as the fastest growing segment over the forecast period because it offers wide variety of products with convenient packaging along with lucrative discount offers.

Regional: Segment Analysis

According to the Tobacco Market Analysis, the Asia-Pacific region is expected to hold the highest market share during the forecast period due to increasing consumption of tobacco products, rising disposable incomes, rapid urbanization, hectic lifestyles, and innovation in the cigarette products, are some of the important factors influencing the market growth in Asia-Pacific region.

Market Segmentation:

Global Tobacco Market by Type

Cigarettes

Smoking Tobacco

Smokeless Tobacco

Cigars

Cigarillos

Others

Global Tobacco Market by Distribution Channel

Hypermarket/Supermarket

Convenience Stores

Specialty Stores

Online Stores

Others

Global Tobacco Market by Region

Asia Pacific

China

Japan

India

Rest of APAC

North America

United States of America

Canada

Europe

United Kingdom

Germany

France

Spain

Rest of Europe

RoW

Brazil

South Africa

Saudi Arabia

UAE

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