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

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

The global tobacco market size reached 8.5 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 9.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.45% during 2023-2028.

Tobacco products are prepared by curing the leaves of tobacco plant which is a part of the genus Nicotiana of the Solanaceae family. There are more than 70 species of tobacco known till now, however, N. tabacum remains the chief commercial crop. Tobacco contains a colourless volatile alkaloid, nicotine, which is responsible for stimulating brain functions, increasing blood pressure, constricting peripheral blood vessels and raising heart rate. Dried tobacco leaves are majorly used for smoking in cigarettes, cigars, pipes and shisha; and as chewing tobacco, snuff, snus and dipping tobacco.

Global Tobacco Market Drivers/Constraints:

The demand for tobacco has recently witnessed a shift from the developed regions to the developing nations such as Asia and Africa. This can be accredited to the increasing population, elevating income levels of the consumers and lenient government regulations.
Introduction of numerous premium tobacco products such as flavoured, long and skinny, coloured and e-cigarettes by the manufacturers has further created a positive outlook for the growth of the tobacco market.
A surge in investments in the research and development has resulted in the introduction of products with reduced levels of toxicants. This has helped in attracting a larger consumer-base for tobacco products.
Higher levels of education along with rising awareness about health concerns related to tobacco consumption such as different types of cancers, cardiovascular diseases, pulmonary diseases, etc., has hampered the growth of the market. Apart from this, stringent regulations in the developed countries further restricts the market growth.

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

Breakup by Type:

Cigarettes
Roll Your Own
Cigars
Cigarillos
Smokeless Tobacco
Others

On the basis of type, the market has been segregated into cigarettes, roll your own, cigars, cigarillos, smokeless tobacco and others. Currently, cigarettes represent the most popular product type, accounting for the majority of the global market. Their rising demand can be attributed to the surging population and tax regulations, especially in the developing countries.

Regional Insights:

China
India
Brazil
United States
EU 15
Others

Region-wise, China enjoys the leading position in the global tobacco market due to an increase in the production of tobacco leaves in the region. Moreover, as smoking is considered “cool” among the younger generations, there has been a constant demand for tobacco in the country. Other major regions include India, Brazil, the Unites States and EU 15.

Competitive Landscape:

The market is highly concentrated with the presence of three large manufacturers which currently hold more than two-third of the total share. Strong brand image and distribution networks of existing players make it difficult for new entrants to survive in the market. Some of the leading players operating in the market are:

China National Tobacco Corporation
Phillip Morris International
British America Tobacco
Japan Tobacco International
Imperial Tobacco Group

This report provides a deep insight into the global tobacco 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 tobacco processing and 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 tobacco industry in any manner.

Key Questions Answered in This Report

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