Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cigarette market size reached US$ 1,077.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,328.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.48% during 2023-2028.

Cigarettes represent one of the most popular tobacco products being consumed across the world. They are a small cigar made of a thin paper containing shredded or ground tobacco. Most of the cigarettes are produced with a reconstituted product of tobacco which include the recycled stems of tobacco. Earlier in the 9th Century, cigarettes were available in the form of reeds and smoking tubes. Later in the 1800s, Juan Nepomuceno Adorno developed cigarette making machines in Mexico. Gradually with time, cigarettes were introduced in a wide variety of shapes, sizes, colours, flavours and intensity as per the preferences of consumers. Currently, the demand for cigarettes is on a rise, particularly in developing regions such as Asia and Africa. This is due to increasing population and tax government regulations regarding the production of cigarettes.

Global Cigarette Market Drivers:
Nowadays, there are different types of cigarettes available in the market such as filter cigarettes, menthol cigarettes, clove cigarettes, etc., providing the cigarette consumers a variety of options to choose between the products.
Major raw materials required for the manufacturing of cigarette are tobacco leaves, cut tobacco, cigarette filter, tipping paper, cigarette paper, whiteboard, aluminium laminated paper and glue. There are large number of suppliers of these materials present in the market which is driving the production of cigarette.
Over the past few years, there has been an increase in the number of smokers across the globe. This is mainly the result of hectic and stressful lifestyles being led by the consumers which is currently catalysing the growth of the cigarette market.
In some of the developing regions, such as Asia Pacific, the disposable incomes of the consumers have been rising which creates several growth opportunities for the cigarette manufacturers to raise their product price and shift smokers onto the premium products.
Cigarette consumers in the rural areas of several developing regions like India, China, Pakistan, etc., traditionally prefer several tobacco products such as hukkah, beedi, etc. instead of cigarette. However, it has been observed that over the past few years, due to a rise in the awareness about the product, a large number of rural tobacco consuming population is shifting towards cigarette.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cigarette market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type and distribution channel.

Breakup by Type:

Light
Medium
Others

The cigarette market has been segmented on the basis of different types of cigarettes available for the consumers to choose from such as light, medium and others. Amongst these, light cigarettes represent the largest segment as they are safer and healthier to consume.

Breakup by Distribution Channel:

Tobacco Shops
Supermarkets and Hypermarkets
Convenience Stores
Online Stores
Others

Currently, there are numerous means from which the consumers can obtain the desired cigarettes including tobacco shops, supermarkets and hypermarkets, convenience stores, online stores and others. Tobacco shops are the most popular distribution channels as they offer a wide variety of specialised tobacco products ranging from premium cigars and cigarettes to ashtrays and humidification devices.

Regional Insights:

Asia Pacific (Excluding Australia)
Eastern Europe
Western Europe
Middle East and Africa
North America
Latin America
Australia

On a geographical front, Asia Pacific, excluding Australia, represents the largest market for cigarettes across the globe. The growth in the Asia Pacific region can be highly attributed to increasing population coupled with elevating disposable incomes.

Competitive Landscape:
The global cigarette market is highly concentrated in nature with the presence of few manufacturers who have been competing in terms of prices and quality. Some of the top cigarette companies operating in the market include China National Tobacco Corporation, Phillip Morris International, British America Tobacco, Japan Tobacco International and Imperial Tobacco Group.

This report provides a deep insight into the global cigarette industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a cigarette manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cigarette industry in any manner.

Key Questions Answered in This Report
1. What was the size of the global cigarette market in 2022?
2. What is the expected growth rate of the global cigarette market during 2023-2028?
3. What are the key factors driving the global cigarette market?
4. What has been the impact of COVID-19 on the global cigarette market?
5. What is the breakup of the global cigarette market based on the type?
6. What is the breakup of the global cigarette market based on the distribution channel?
7. What are the key regions in the global cigarette market?
8. Who are the key players/companies in the global cigarette market?