Tobacco Market to Surpass USD908.29 billion by 2026
An
increase in purchasing power of customers and wide availability and visibility
of tobacco products at the point of sale are driving factors for the growth of
tobacco market globally.
According to TechSci Research report, Global Tobacco
Market By
Product
Type
(Cigarettes,
Cigars, Smoking Tobacco,
Smokeless Tobacco (Oral Tobacco)), By Distribution Channel (Specialty Stores,
Convenience Stores, Supermarkets/Hypermarkets, and Others (Online, Counter Shops,
etc.)), By Region, Competition, Forecast & Opportunities, 2026F, the
global tobacco market is forecast to grow at a rate of 3.78% to reach USD908.29
billion by 2026F. Tobacco contains the extremely addictive stimulant alkaloid
nicotine as well as harmala alkaloids. The availability of high-quality tobacco
products, rising average disposable income among the general population, and
essential marketing methods adopted by prominent market players have all
contributed to the tobacco market's recent expansion. It is the tobacco giants like
PHILIP MORRIS INTERNATIONAL INC. and Altria Group, Inc. that merged
again in the year 2019 after spin-off in the year 2008 with the purpose of
capturing the large market share.
The
market growth is stimulated by various factors such as a rise in demand for
tobacco products, as it is observed that young adults or teenagers are
consuming tobacco products at an increasing rate. According to the World Health Organization (WHO),
approximately 43 million children (aged 13-15) consumed tobacco in 2018 (14
million girls and 29 million boys). The number of women using tobacco in 2018
was 244 million. By 2025, there would be 32 million fewer women tobacco buyers.
Most of the tobacco ingredients are made or produced by the low and
middle-income countries. Tobacco, on the other hand, is also responsible for a
vast number of diseases and fatalities every year. As a response,
governments across the globe have taken initiatives to curb cigarette sales and
have imposed a variety of tobacco-related tariffs. Tobacco taxes not only help in
reducing tobacco consumption and health-care costs, but also represent a
revenue stream for financing for development in many countries. As a result,
market growth is likely to be hampered in the forecast period.
Browse 83 Figures spread through 110 Pages and an in-depth TOC
on "Global Tobacco Market"
https://www.techsciresearch.com/report/tobacco-market/7943.html
Aside from supply chain
disruption, analysts believe that COVID-19 will have a low impact on the
tobacco business in the foreseeable future. In several markets throughout the
world, significant cigarette volumes are likely to be slightly lower than
predicted in 2020. This impact on volumes is projected to be unevenly felt
across geographies, with more established markets showing stability while
developing nations may see a higher proportion of customers shifting to the
illicit market.
The global tobacco market is segmented into by product type,
distribution channel, region, and company. In terms of product type, the global
tobacco market is segmented into cigarettes, cigars, smoking tobacco, and
smokeless tobacco. In terms of distribution channel, the global tobacco market
is divided into convenience stores, specialty stores,
supermarkets/hypermarkets, and others (online, counter shops, etc.) where the convenience stores are the
fastest-growing distribution channel in the global tobacco market. As these convenience
stores, offers a wide range of tobacco products from different brands under one
roof and the segment is expected to gain the majority of share in the forecast
periods as well.
In terms of regional analysis, the global tobacco market is divided into
North America, Europe, Asia-Pacific, South America, and Middle East &
Africa. Among these, Asia-Pacific dominated the global tobacco market with the
majority of market share in the year 2020, as the tobacco market is majorly
driven by China and India and these
two countries are among of the world's top manufacturers and buyers of
tobacco. The Asia-Pacific region is home to four of the world's top tobacco
corporations, including China National Tobacco Corporation and ITC Limited. China
is the region's largest market, with tobacco products being consumed by a major
portion of the population. With lenient laws in countries like India, for
example, the ban on the consumption of tobacco products in public places, as
well as the increased availability of tobacco products in modern retail outlets
in the region, the tobacco market in the Asia-Pacific region is growing
rapidly.
British American Tobacco p.l.c., PHILIP
MORRIS INTERNATIONAL INC., Imperial Brands PLC, Altria Group, Inc., JAPAN TOBACCO
INC., PT Gudang Garam Tbk, ITC Limited, KT&G CORPORATION, Swedish Match AB,
SCANDINAVIAN TOBACCO GROUP A/S are
some of the leading players operating in the global tobacco market. Major
companies are expanding their manufacturing bases in developing countries to
meet rising demand across developing countries in Asia-Pacific, Middle East and
Africa, and South America.
Download Sample Report@ https://www.techsciresearch.com/sample-report.aspx?cid=7943
Customers can also request for
10% free customization on this report.
“The global tobacco market has the possibility to extensively grow as companies
are focusing primarily on product quality and adding innovative features to
product category. With the availability of diverse range of tobacco brands to
consumers, the competition among the tobacco manufacturers is vast.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Tobacco Market By
Product
Type
(Cigarettes,
Cigars, Smoking Tobacco, Smokeless Tobacco (Oral Tobacco)), By Distribution
Channel (Specialty Stores,
Convenience Stores, Supermarkets/Hypermarkets, and Others (Online, Counter
Shops, etc.)), By Region, Competition, Forecast & Opportunities, 2026F” has evaluated the future growth
potential of global tobacco market
and provides statistics and
information on market structure, size, share and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment decision. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in global tobacco market.
Contact
Mr.
Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com/