Sun, 29 May 2022

Allied Market Research published a report, titled, "Tobacco Market by Type (Virginia, Burley, Nicotiana Rustica, Oriental, and Others), Product (Cigar, Cigarette, Kretek, Snuff, and Others), and Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, and Online Sales Channel): Global Opportunity Analysis and Industry Forecast 2021–2027." According to the report, the global tobacco industry generated $183.1 billion in 2019, and is expected to generate $262.8 billion by 2027, witnessing a CAGR of 6.7% from 2021 to 2027.

tobacco-market-2021-2027-1620393307

Increase in consumption of cigarette, adoption of unique product promotion and marketing strategies, and surge in usage of dry smokeless tobacco drive the growth of the global tobacco market. However, rise in number of nicotine replacement theories and adverse effects on health hinder the market growth. On the other hand, increase in interest in flavored and innovative smokeless tobacco products present new opportunities in the coming years.

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Covid-19 Scenario

  • The demand for tobacco products reduced significantly as the risk of Covid-19 infection among tobacco consumers is found to be more than non-consumers as these products affect lungs and coronavirus also targets lungs to impair breathing.
  • Manufacturing activities of tobacco products have been hindered due to lockdown imposed by governments, disruption of supply chain, and shortage of raw materials. The manufacturing will get back on track during the post-lockdown.

Based on type, the burley segment held the highest share in 2019, accounting for more than one-third of the global tobacco market, and is projected to maintain its leadership position throughout the forecast period. Moreover, this segment is expected to witness the largest CAGR of 7.9% from 2021 to 2027. This is due to its wide consumption in various countries and usage as one of the flavors in American blend cigarettes. The research also analyzes segments including virginia, nicotiana rustica, oriental, and others.

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Based on product, the cigarette segment accounted for the largest market share in 2019, holding more than one-third of the global tobacco market, and is estimated to maintain its lead position during the forecast period. In addition, this segment is estimated to manifest the fastest CAGR of 8.0% from 2021 to 2027. This is attributed to product innovations of cigarette in terms of flavor, size, and ingredients. The report also discusses segments including cigar, kretek, snuff, and others.

Based on region, Asia-Pacific, followed by Europe and North America, contributed to the highest share in 2019, accounting for nearly two-fifths of the global tobacco market, and is expected to continue its dominant share in terms of revenue by 2027. Moreover, this region is estimated to register the fastest CAGR of 7.4% during the forecast period. This is due to increase in consumption of cigarette, which is one of the prominent tobacco-based products, and provides the most consistent source of tax revenue for governments.

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Leading market players

  • Altria Group
  • Eastern Co. SAE
  • British American Tobacco
  • ITC Ltd.
  • Imperial Brands
  • KT&G
  • Japan Tobacco International
  • Scandinavian Tobacco Group
  • PT Gudang Garam Tbk
  • Swisher

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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