The new report by Expert Market Research titled, 'Global Tobacco Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026', gives an in-depth analysis of the global tobacco market, assessing the market based on its segments like product types and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
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Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): 9 Million Tons
• Forecast CAGR (2020-2025): 3.4%
• Forecast Market Size (2025): 11 Million Tons
The global tobacco market is being driven by the increasing consumption of tobacco by the youth and female population. The tobacco industry has gained popularity owing to changing lifestyles, flavour enhancements, rising disposable income, and availability of products in superior quality. Strategic marketing and consumer-targeted packaging have played a major role in appealing to the target audience and increase the market growth. Over the forecast period, flavoured tobacco products, such as cigars, cigarettes, smokeless tobacco, and related products, are expected to further propel the market growth.
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Industry Definition and Major Segments
Tobacco is the common name for plants belonging to the Nicotiana genus and the Solanaceae family. The tobacco leaves are used for smoking in cigars and cigarettes. There are more than 70 species of tobacco plants known around the world.
On the basis of product type, the industry is divided into:
• Roll Your Own
The regional markets for tobacco include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Read Latest News on Tobacco Market@ https://www.expertmarketresearch.com/pressrelease/global-tobacco-market
The market is being driven by the marketing strategies of tobacco companies, availability of varied flavours of cigarettes and other social and cultural factors. China currently represents the largest producer. The growth in tobacco products, such as cigars and cigarettes, is greatly shaped by factors such as increased per capita income and people's emphasis on lifestyle change trends. High-income growth combined with high-income elasticity has also increased tobacco consumption in populous countries such as China, India, and Brazil. Over the last few years, awareness of the health hazards associated with smoking has increased, thus, limiting the growth of the market. Also, strict regulations in developed countries have further restricted the market growth.
Key Market Players
The major players in the market are China National Tobacco Corporation, Phillip Morris International (NYSE: PM), British America Tobacco (NYSE: PM), Japan Tobacco International (OTCMKTS: JAPAY), Imperial Tobacco Group (OTCMKTS: IMBBY), India Tobacco Company Limited (NSE: ITC), Gudang Garam (OTCMKTS: GGNPF), Lorilard, Reynolds American (LON: RAI), and KT&G. (KRX: 033780) The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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