Tobacco Industry Growth Analysis, Share, Size, Trends, Region by Demand and Forecast By 2024

Global Tobacco Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Report Description Global Tobacco Market Overview:

According to the latest report by IMARC Group, titled “ Tobacco Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global tobacco market reached a volume of more than 8 Million Tons in 2018. Tobacco refers to a stimulant that triggers complex biochemical and neurotransmitter disruptions. It is prepared by curing the leaves of the tobacco plant, belonging to the Solanaceae family, through the process of drying and fermentation. It contains a colorless volatile alkaloid, also known as nicotine, which acts a depressant and is associated with elevating heart rate, constricting peripheral blood vessels, irritating lung tissue, increasing blood pressure, and affecting brain functions. While chewing tobacco is one of the popular forms of tobacco consumption, it is also consumed as snus, snuff, cigars, shisha, cigarillos and cigarettes.

Tobacco Market Trends An increase in the number of smokers on the global level, owing to factors such as hectic lifestyles, inflating income levels, and early exposure to tobacco products, is providing thrust to the market growth. Moreover, a strong distribution network of tobacco companies, particularly in countries like China and India, is contributing to the sales of their products.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

in Million US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

In addition to this, manufacturers are conducting surveys to assess the requirements of their consumerbase to launch modified and targeted products. For instance, they have introduced long, skinny and lightweight cigarette variants aimed solely at the female consumers. Furthermore, the manufacturers are engaged in research and development activities to develop low-risk tobacco products, owing to rising health awareness among consumers.

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However, the popularity of e-cigarettes among the millennials along with governments’ initiatives to promote healthy lifestyle habits is expected to hamper the growth of the market. Looking forward, the market is projected to reach a volume of more than 9 Million Tons by 2024, at a CAGR of 1.4% during 2019-2024.

Key Market Segmentation: Market Segmentation by Type • • • • • •

Cigarettes Roll Your Own Cigars Cigarillos Smokeless Tobacco Others

On the basis of type, the market has been categorized into cigarettes, roll your own, cigars, cigarillos, smokeless tobacco and others. Amongst these, cigarettes are the most popular product type, holding the majority of the market share.

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For more information, click here: https://www.imarcgroup.com/tobacco-processing-plant Market Segmentation by Region • • • • • •

China India Brazil United States EU 15 Others

On the geographical front, China holds the leading position in the market due to rising population and escalating disposable incomes. Other key regions include India, Brazil, the United States and the EU 15.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

•

China National Tobacco Corporation

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Report Description • • • •

Phillip Morris International British America Tobacco Japan Tobacco International Imperial Tobacco Group

Browse Related Report E-cigarette Market Report: https://www.imarcgroup.com/e-cigarette-market Cigarette Market Report: https://www.imarcgroup.com/cigarette-manufacturing-plant

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