Tobacco Market - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Tobacco Market accounted for $663.76 billion in 2017 and is expected to reach $1,012.19 billion by 2026 growing at a CAGR of 4.8 % during the forecast period. Introduction of numerous premium tobacco products such as flavoured, long and skinny, coloured and e-cigarettes by the manufacturers are some of the major factors boosting the market growth. However, availability of traditional nicotine replacement therapies such as gum, patches, and lozenges, which help alleviate cravings and 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. are the restraining factors for the market growth. Moreover, increasing frequency of new flavor launches in hookah tobacco and the rapid emergence of online retail of hookah tobacco will provide ample opportunities for the market growth.
Tobacco is the common name of several plants in the Nicotiana genus and the Solanaceae (nightshade) family, and the general term for any product prepared from the cured leaves of the tobacco plant. 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.
By type, cigarettes growth is due to the surging population and tax regulations in developing countries. By geography, Asia Pacific is estimated to have a lucrative growth in the forecast period mainly due to an increase in the production of these Tobacco leaves in the region.
Some of the key players in this market include Hongyunhonghe Tobacco (Group) Co., Japan Tobacco Inc., Reynolds American Inc., Philip Morris International Inc., British American Tobacco p.l.c. (BAT), Ltd., Imperial Brands PLC and Altria Group, Inc.
• Nicotine Replacement Therapy
• Shishas or Hookahs and Mouassal
• Smokeless Tobacco
• Smoking Tobacco
• Roll Your Own
• Other Types
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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