Report Ocean has recently published the “Tobacco Market“ Research Report 2023-2031, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2031.
The global tobacco market was valued at $183.1 billion in 2019, and is estimated to reach $262.8 billion by 2027, registering a CAGR of 6.7% from 2021 to 2027. Tobacco is a common name for the plant Nicotiana tabacum and, to a lesser extent, Aztec tobacco (Nicotiana rustica). The cured leaf is used for smoking, chewing, snuffing, and nicotine extraction after maturation and processing in various ways. Other Nicotiana species, collectively known as flowering tobaccos, are grown as ornamentals. Tobacco consumption in any form stimulates brain functions, raises blood pressure, constricts peripheral blood vessels, and increases heart rate. At the same time, tobacco consumption in any form can pose health risks and affect a large population of passive smokers globally. Tobacco contains alkaloids that are highly addictive, making it difficult to quit. Despite consumer awareness of the health effects of tobacco use, the tobacco industry is gaining traction due to the additive nature of the product.
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Innovative product marketing strategies used by industry players to attract more consumers, or rather target potential consumers, primarily the youth population, are driving the market growth. The use of automated techniques in manufacturing of tobacco products combined with the rise of online retailing is expected to drive the global tobacco market through 2027. The extensive use of dried tobacco for smoking in cigars, cigarettes, pipes, and shisha; as snuff, chewing tobacco, dipping tobacco, and snus is expected to drive the tobacco market growth in the coming years.
Nicotine replacement therapies significantly reduce cravings and physical withdrawal symptoms, thereby breaking the mental addiction to tobacco-based products. Growing awareness of the high success rate of nicotine replacement therapies, such as patches, lozenges, gums, and other products, may limit the market growth to some extent. The COVID-19 crisis has threatened the tobacco companies. The first quarter’s sales were disappointing, and many stores were closed. Despite the fact that many industries are suffering as a result of the COVID-19 crisis, with several sectors experiencing a drop in consumer demand, the tobacco market is expected to emerge undaunted and grow rapidly.
The global tobacco market is segmented on the basis of type, product, distribution channel, and region. On the basis of type, the market is categorized into virginia, burley, nicotiana rustica, oriental, and others. As per product, it is divided into cigar, cigarette, kretek, snuff, and others. According to distribution channel, the tobacco market is fragmented into hypermarkets & supermarkets, convenience stores, specialty stores, and online sales channel. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, the Netherlands, Germany, Turkey, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, the UAE, and rest of LAMEA).
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KEY BENEFITS FOR STAKEHOLDERS
o This report provides a quantitative analysis of current trends, estimations, and dynamics of the global tobacco market from 2021 to 2027 to identify the prevailing market opportunities.
o Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
o In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
o Major countries in each region are mapped according to their revenue contribution to the global industry. The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
o The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
The major players operating in the global tobacco market are Altria Group, British American Tobacco, Eastern Co. SAE, Imperial Brands, ITC Ltd., Japan Tobacco International, KT&G, PT Gudang Garam Tbk, Scandinavian Tobacco Group, and Swisher.
KEY MARKET SEGMENTS
By Type
o Virginia
o Burley
o Nicotiana Rustica
o Oriental
o Others
By Product
o Cigar
o Cigarette
o Kretek
o Snuff
o Others
By Distribution Channel
o Hypermarkets & Supermarkets
o Convenience Stores
o Specialty Stores
o Online Sales Channel
By Region
o North America
o U.S.
o Canada
o Mexico
o Europe
o UK
o France
o Netherlands
o Germany
o Turkey
o Rest of Europe
o Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Rest of Asia-Pacific
o LAMEA
o Brazil
o South Africa
o UAE
o Rest of LAMEA
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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Business Owners and Executives:
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Marketing and Sales Professionals:
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Product Development and Innovation Teams:
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Investors and Financial Analysts: –
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Key Questions Market Research and Analysis Report
- What is the current market size, both in terms of value and volume?
- What is the historical growth rate of the market, and what are the projected growth rates for the future?
- Who are the major players in the market, and what is their market share?
- What are the market trends and dynamics influencing the industry?
- What are the key drivers of market growth?
- What are the challenges and barriers faced by market participants?
- What are the emerging opportunities in the market?
- What is the competitive landscape of the market?
- What are the consumer preferences, behaviors, and buying patterns within the market?
- What is the market segmentation, and how are different market segments performing?
- What are the pricing trends and strategies in the market?
- What are the distribution channels and their effectiveness in reaching the target audience?
- What are the regulatory and legal factors impacting the market?
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