Global Cigarette Market Report and Forecast 2023-2028

Global Cigarette Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global cigarette market attained a value of USD 738.6 billion in 2022. Aided by the influence of the tobacco industry and the continued popularity of cigarettes among consumers, the market is projected to further grow at a CAGR of 3.1% between 2023 and 2028 to reach a value of USD 890.25 billion by 2028.

Cigarettes are small, cylindrical rolls of tobacco wrapped in paper or other similar material, designed for smoking. The French word ‘cigarette,’ which signifies a little cigar, is where the name ‘cigarette’ first appeared. Cigarettes are typically consumed for the nicotine content and associated pleasurable sensations, although many users also report enjoying the social aspects and rituals surrounding cigarette smoking.

The global cigarette market is still growing despite the well-known negative effects of smoking on one's health, including an increased risk of heart disease, lung cancer, and respiratory conditions. This growth can be attributed to a combination of factors, including aggressive marketing strategies by the tobacco industry, cultural norms, and the addictive nature of nicotine.

The increasing popularity of cigarettes in emerging markets, particularly in Asia Pacific and Africa, is a key driver of the global cigarette market growth. Rapid urbanisation, rising disposable incomes, and the influence of Western culture have all contributed to the growing demand for cigarettes in these regions. Furthermore, tobacco companies have targeted these markets with aggressive advertising campaigns and pricing strategies, further fuelling the growth of the global market for cigarettes.

Also, the development of innovative cigarette products, such as reduced-risk cigarettes and heated tobacco products, has provided new opportunities for the global cigarette market expansion. These products, which claim to deliver nicotine with fewer harmful chemicals, have gained traction among consumers who are concerned about their health but unwilling or unable to quit smoking completely.

The global cigarette market is also witnessing a shift in consumer preferences towards premium and super-premium cigarette brands. As consumers become more discerning and quality-conscious, they are increasingly willing to pay a higher price for perceived quality and exclusivity. This trend has driven the growth of the premium segment within the cigarette market report, with leading manufacturers focusing on the development and promotion of high-end brands.

Market Segmentation

The market can be divided based on type, distribution channel, and region.

Market Breakup by Type

• Light
• Medium
• Others

Market Breakup by Distribution Channel

• Tobacco Shops
• Supermarket and Hypermarkets
• Convenience Stores
• Online Stores
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global cigarette companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Phillip Morris International
• British American Tobacco
• Japan Tobacco Inc.
• Imperial Brands PLC
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.