Global Tobacco Market

Tobacco Market Size, Share, Growth Analysis, By Product(Smokeless, Cigarettes, Cigar & Cigarillos, Next Generation Products), By Distribution Channel(Offline, and online), By Region - Industry Forecast 2024-2031


Report ID: SQMIG30J2025 | Region: Global | Published Date: April, 2024
Pages: 198 |Tables: 64 |Figures: 75

Tobacco Market Insights

Global Tobacco Market size was valued at USD 873.2 Billion in 2022 and is poised to grow from USD 895.03 Billion in 2023 to USD 1090.51 Billion by 2031, growing at a CAGR of 2.50% in the forecast period (2024-2031).

The global tobacco market is primarily driven by consumer demand for tobacco products, and it is a highly regulated industry due to the health risks associated with tobacco use. The purpose of the global tobacco market is to meet the demand for tobacco products by consumers around the world. This market is driven by a combination of factors, including consumer preferences, marketing strategies, and government regulations. The primary driving factor of the global tobacco market is the addictive nature of nicotine, which is a chemical found in tobacco products. This addictive quality creates a steady demand for tobacco products, as consumers continue to purchase them despite the known health risks. Government regulations and health concerns are the primary restraining factors for the global tobacco market.

Governments around the world have implemented strict regulations on tobacco products, including advertising restrictions, taxes, and warning labels. These regulations can make it challenging for tobacco companies to market their products and can reduce demand for tobacco products. Health concerns associated with tobacco use have led many individuals to quit smoking or switch to alternative products. These trends can also decrease demand for tobacco products, particularly in developed countries where health education is widespread. The primary challenges facing the global tobacco market are the ongoing public health concerns associated with tobacco use. Health organizations and governments around the world continue to educate individuals on the dangers of smoking, which can lead to a decrease in demand for tobacco products. the tobacco industry is facing increased scrutiny over its marketing practices, particularly in developing countries. This scrutiny can lead to increased regulations and restrictions, making it more challenging for companies to operate in these markets.

US Tobacco Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 873.2 Billion

Largest Segment

Cigarettes

Fastest Growth

Cigarettes

Growth Rate

2.50% CAGR

Global Tobacco Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Tobacco Market Size By Product, 2022-2030 ($ Bn)
Global Tobacco Market Size By Product, 2022-2030 (%)

To get more reports on the above market click here to Buy The Report

Tobacco Market Segmental Analysis

The global tobacco market is segmented on the basis of product, distribution channel, and region. By product, the market is segmented into smokeless cigarettes, cigar & cigarillos, next generation products, water pipes. In terms of distribution channel, the market is segmented into offline, and online. Regionwise, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Tobacco Market Analysis by Product

In 2022, cigarettes captured the majority share of the global tobacco market, accounting for approximately 86% of the total revenue. The demand for cigarettes has remained stable due to factors such as the introduction of flavored and menthol cigarettes, as well as the availability of smaller-sized cigarettes for individuals who wish to cut down on their smoking habits. Despite heavy taxation across the world, cigarettes have an inelastic demand, which has been a significant driver of market growth. The popularity of partying and pub culture, particularly among millennials and working-class communities, has contributed to the rising demand for flavored and unflavored cigarettes globally in recent years. Additionally, emerging economies like India and Thailand are experiencing a significant increase in cigarette demand due to the growing youth populations in these countries.

The tobacco market is expected to benefit significantly from the launch of next-generation products, which are predicted to become the fastest-growing segment. Major companies are investing heavily in the development of NGPs, seeing this category as a potential market leader. For instance, Japan Tobacco Inc. launched its Ploom X next-generation heated device in August 2021.

Tobacco Market Analysis by Distribution Channel

The offline channel dominated the global tobacco market in 2022, accounting for over 89% of the market share, and is projected to remain the leading channel during the forecast period. This segment comprises retail outlets such as hypermarkets, supermarkets, convenience stores, and departmental stores, which offer consumers significant discounts. Additionally, the proximity of these stores to consumers' locations facilitates immediate fulfillment of tobacco consumption demands, driving the growth of this segment. During the pandemic, countries with strict lockdown laws prohibited citizens from leaving their homes, except for essential reasons, leading to a rise in online tobacco shopping. Online channels also provided companies with more marketing opportunities, attracting new smokers, especially millennials with easy access to the internet.

Global Tobacco Market Size By Product, 2022(%), 2023 (%)

To get detailed analysis on other segments, Request For Free Sample Report

Tobacco Market Regional Insights

Asia Pacific dominated the global tobacco market in 2022, accounting for almost 61% of the total revenue. The region's growth is supported by infrastructure improvements for offline sales and marketing campaigns by prominent companies in key markets such as India, Bangladesh, China, and the Philippines. companies are introducing flavored cigarettes to attract younger populations. The number of tobacco users is increasing in developing countries in Asia, with India having a particularly high number of consumers due to its large population.

The Middle East and Africa region is expected to be another lucrative market for manufacturers, with an estimated CAGR of 2.9% during the forecast period. The American Cancer Society and Vital Strategies' sixth edition of The Tobacco Atlas reports that tobacco consumption in the Middle East is estimated at 400 billion cigarettes per year. The survey shows significant increases in product usage in Bahrain, Lebanon, Egypt, Oman, and Saudi Arabia.

Global Tobacco Market Size By Geography, 2022-2030, 2024-2031
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Tobacco Market Dynamics

Tobacco Market Drivers

Availability of Small and Flavored Cigarettes

  • The introduction of smaller-sized cigarettes has facilitated smaller amounts of tobacco consumption, allowing smokers to cut down on their smoking habits gradually. Moreover, flavored cigarettes are becoming increasingly popular, especially among younger consumers. The rising popularity of partying and pub culture among millennials and working-class communities has especially fueled the demand for flavored and unflavored cigarettes around the world in recent years.

Inelastic Demand for Cigarettes

  • Cigarettes have an inelastic demand, which is a major factor that has driven market growth despite heavy taxation imposed across the globe. This means that even when the prices of cigarettes increase due to taxes, the demand for cigarettes remains relatively stable. This can be attributed to the addictive nature of nicotine, which is the primary ingredient in cigarettes. Nicotine is a highly addictive substance that creates a physical and psychological dependency on the product. As a result, smokers are often willing to pay higher prices for cigarettes to satisfy their addiction, even when taxes are levied. The inelastic demand for cigarettes has enabled tobacco companies to increase prices without significant declines in sales volumes. This has allowed companies to maintain profitability and continue to invest in new products and marketing initiatives.

Tobacco Market Restraints

Increasing Awareness of Harmful Effects of Tobacco

  • The increasing awareness of the harmful effects of tobacco on health is a significant restraint on market growth. This has led to a decline in tobacco consumption in some countries, with consumers switching to alternatives such as e-cigarettes and vaping products. Governments and health organizations are actively promoting anti-smoking campaigns to educate the public on the risks associated with smoking. These campaigns have been successful in raising awareness and changing public attitudes towards tobacco consumption. Many consumers are now switching to alternatives such as e-cigarettes and vaping products, which are considered less harmful than traditional tobacco products. The market for e-cigarettes and vaping products has grown rapidly in recent years.

Rise of E-cigarettes and Vaping Products

  • The rise of e-cigarettes and vaping products is a significant restraint on market growth. These products are considered less harmful than traditional tobacco products, and their use has increased among young consumers. The rise of e-cigarettes and vaping products has also led to regulatory concerns, with some governments implementing restrictions on their use and sales. For example, in the United States, the Food and Drug Administration (FDA) has imposed restrictions on the marketing and sale of e-cigarettes and vaping products to minors, and some states have banned flavored e-cigarettes altogether.

Request Free Customization of this report to help us to meet your business objectives.

Tobacco Market Competitive Landscape

The global tobacco market is highly competitive, with several players operating in the market. These companies are constantly focusing on research and development to introduce new products and gain a competitive edge in the market. They are also investing in marketing and advertising campaigns to increase brand awareness and attract consumers. companies are adopting various strategies such as mergers and acquisitions, partnerships, and collaborations to expand their market share and strengthen their position in the market. The competitive landscape of the global tobacco market is dynamic, with players constantly adapting to changing consumer preferences and regulatory environments.

Tobacco Market Top Player’s Company Profiles

  • Imperial Brands PLC (UK)
  • China National Tobacco Corporation (China)
  • Altria Group Inc. (US)
  • ITC Limited (India)
  • Korea Tobacco & Ginseng Corporation (South Korea)
  • Eastern Company SAE (Egypt)
  • Scandinavian Tobacco Group A/S (Denmark)
  • KT&G Corporation (South Korea)
  • Godfrey Phillips India Ltd. (India)
  • Donskoy Tabak (Russia)
  • JTI-Macdonald Corp. (Canada)
  • Habanos S.A. (Cuba)
  • National Tobacco Corporation (Zimbabwe)
  • Nakhla Tobacco Company SAE (Egypt)
  • Vietnam National Tobacco Corporation (Vietnam)
  • Taiwan Tobacco & Liquor Corporation (Taiwan)
  • Universal Corporation (US)

Tobacco Market Recent Developments

  • In November 2022, Phillip Morris International unveiled its newest tobacco heating system, BONDS by IQOS, which incorporates a proprietary blend of tobacco sticks named BLENDS. This innovative product is designed to provide consumers with a distinctive and improved tobacco experience through the utilization of advanced heating technology.

  • In July 2022, British American Tobacco (BAT) announced the introduction of gloTM hyper X2, the latest addition to its rapidly growing global heated tobacco brand, gloTM, now available in Japan. This product features a 'barrel styling' design and incorporates user-friendly innovations that have been developed based on valuable consumer feedback.

  • In February 2022, Reynolds American Inc., a subsidiary of the BAT Group, and the U.S. parent company R.J. Reynolds have unveiled their collaboration with the National Association of Convenience Stores (NACS) and Conexxus. Together, they are acting as sponsors for TruAge, a novel digital solution geared towards improving the existing age-verification system while prioritizing user privacy.

  • In August 2021, Ploom X, a next-generation heated tobacco device was launched in Japan by JT Group. The Ploom X product is available in convenience stores and select tobacco retail outlets throughout Japan.

Tobacco Key Market Trends

  • Next-generation products (NGPs): The tobacco market is expected to benefit greatly from the launch of next-generation products, which is expected to become the fastest-growing segment. Major companies are investing heavily in the development of NGPs as they see this category as having the potential to overpower other products in the market. For instance, Japan Tobacco Inc. launched its Ploom X next-generation heated device in August 2021.
  • Increasing government regulations and taxation: Governments worldwide are implementing strict regulations and taxation policies to curb tobacco consumption. For instance, in 2019, the US Food and Drug Administration (FDA) announced a ban on flavored e-cigarettes in an attempt to prevent young people from starting to smoke. Similarly, in 2021, the Indian government proposed a 22.5% increase in taxes on cigarettes and tobacco products to discourage consumption.

Tobacco Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global tobacco market analysis, the inelastic demand for cigarettes, rising populations in developing countries, and increasing per capita income are the key growth drivers augmenting the growth of this market. Recent developments in the global tobacco market include the increasing popularity of heated tobacco products, especially in countries like Japan and South Korea. Additionally, there has been a rise in the number of smokeless tobacco products and nicotine pouches, which are gaining popularity among consumers who want to quit smoking.

The offline channel is the largest distribution channel, accounting for more than 89% of the market share in 2022. This is due to the convenience of these stores and the immediate fulfillment of tobacco consumption demand. However, online channels are also gaining momentum, especially in countries with strict lockdown laws, and provide more marketing opportunities for companies. Despite heavy taxation imposed globally, cigarettes have an inelastic demand, which means that even when prices increase, the demand remains relatively stable. However, the increasing awareness of the harmful effects of tobacco on health is a significant restraint on market growth. Consumers are switching to alternatives such as e-cigarettes and vaping products, which are considered less harmful than traditional tobacco products.

Report Metric Details
Market size value in 2023 USD 873.2 Billion
Market size value in 2031 USD 1090.51 Billion
Growth Rate 2.50%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Smokeless, Cigarettes, Cigar & Cigarillos, Next Generation Products, andWaterpipes
  • Distribution Channel
    • Offline, and online
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Imperial Brands PLC (UK)
  • China National Tobacco Corporation (China)
  • Altria Group Inc. (US)
  • ITC Limited (India)
  • Korea Tobacco & Ginseng Corporation (South Korea)
  • Eastern Company SAE (Egypt)
  • Scandinavian Tobacco Group A/S (Denmark)
  • KT&G Corporation (South Korea)
  • Godfrey Phillips India Ltd. (India)
  • Donskoy Tabak (Russia)
  • JTI-Macdonald Corp. (Canada)
  • Habanos S.A. (Cuba)
  • National Tobacco Corporation (Zimbabwe)
  • Nakhla Tobacco Company SAE (Egypt)
  • Vietnam National Tobacco Corporation (Vietnam)
  • Taiwan Tobacco & Liquor Corporation (Taiwan)
  • Universal Corporation (US)
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Tobacco Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Tobacco Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Tobacco Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Tobacco Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Tobacco Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Tobacco Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Tobacco Market size was valued at USD 873.2 Billion in 2022 and is poised to grow from USD 895.03 Billion in 2023 to USD 1090.51 Billion by 2031, growing at a CAGR of 2.50% in the forecast period (2024-2031).

The tobacco market is highly competitive, with several players operating in the market. These companies are constantly focusing on research and development to introduce new products and gain a competitive edge in the market. They are also investing in marketing and advertising campaigns to increase brand awareness and attract consumers. companies are adopting various strategies such as mergers and acquisitions, partnerships, and collaborations to expand their market share and strengthen their position in the market. The competitive landscape of the tobacco market is dynamic, with players constantly adapting to changing consumer preferences and regulatory environments. 'Philip Morris International Inc. (US)', 'Japan Tobacco International (Japan)', 'British American Tobacco PLC (UK)', 'Imperial Brands PLC (UK)', 'China National Tobacco Corporation (China)', 'Altria Group Inc. (US)', 'ITC Limited (India)', 'Korea Tobacco & Ginseng Corporation (South Korea)', 'Eastern Company SAE (Egypt)', 'Scandinavian Tobacco Group A/S (Denmark)', 'KT&G Corporation (South Korea)', 'Godfrey Phillips India Ltd. (India)', 'Donskoy Tabak (Russia)', 'JTI-Macdonald Corp. (Canada)', 'Habanos S.A. (Cuba)', 'National Tobacco Corporation (Zimbabwe)', 'Nakhla Tobacco Company SAE (Egypt)', 'Vietnam National Tobacco Corporation (Vietnam)', 'Taiwan Tobacco & Liquor Corporation (Taiwan)', 'Universal Corporation (US)'

The introduction of smaller-sized cigarettes has facilitated smaller amounts of tobacco consumption, allowing smokers to cut down on their smoking habits gradually. Moreover, flavored cigarettes are becoming increasingly popular, especially among younger consumers. The rising popularity of partying and pub culture among millennials and working-class communities has especially fueled the demand for flavored and unflavored cigarettes around the world in recent years.

Next-generation products (NGPs): The tobacco market is expected to benefit greatly from the launch of next-generation products, which is expected to become the fastest-growing segment. Major companies are investing heavily in the development of NGPs as they see this category as having the potential to overpower other products in the market. For instance, Japan Tobacco Inc. launched its Ploom X next-generation heated device in August 2021.

Asia Pacific dominated the tobacco market in 2022, accounting for almost 61% of the total revenue. The region's growth is supported by infrastructure improvements for offline sales and marketing campaigns by prominent companies in key markets such as India, Bangladesh, China, and the Philippines. companies are introducing flavored cigarettes to attract younger populations. The number of tobacco users is increasing in developing countries in Asia, with India having a particularly high number of consumers due to its large population.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Tobacco Market

Product ID: SQMIG30J2025

$5,300
BUY NOW GET FREE SAMPLE