Cigarettes Market to increase by USD 141.91 billion between 2022 to 2027, APAC to contribute 55% to the growth of the global market during the forecast period - Technavio
NEW YORK, Sept. 13, 2023 /PRNewswire/ -- The cigarettes market size is expected to grow by USD 141.91 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 3.75% during the forecast period. APAC will contribute 55% to the growth of the global market during the forecast period. The regional market growth can be primarily attributed to the growing number of smokers in APAC. For instance, the region has approximately more than 30% of the overall smokers in the world. Also, in the region, the majority of cigarette consumers live in low- and middle-income nations such as Indonesia, Vietnam, Singapore, Malaysia, and India, among others. Hence, such factors fuel the growth of the cigarette market in the APAC region during the forecast period. The increasing number of product launches is notably driving the cigarette market. However, factors such as High regulation on cigarette smoking may impede market growth. The market is segmented by Type (Flavored and Non-flavored), Distribution Channel (Offline and Online), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format
Key Segment Analysis
The offline segment is significant during the forecast period. The segment growth can be attributed to factors such as the rising growth of the retail industry and the establishment of various retail outlets. Also, through the offline segment, market retailers offer consumers a wide range of products and the convenience of choosing them all under one roof. Market vendors are also increasing their offline sales by efficiently manufacturing and selling their products and expanding their operations into remote locations. This is in order to serve each category of consumers in large geographic areas, thereby increasing the sale of cigarettes. Hence, such factors fuel the offline segment of the global cigarette market during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View a FREE PDF Sample Report.
Company Insights
The cigarettes market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
Altria Group Inc., British American Tobacco Plc, China Tobacco International HK Co. Ltd., Eastern Co. SAE, Gold Leaf Tobacco Corp., Golden Tobacco Ltd., Gudang Garam Tbk, Imperial Brands Plc, ITC Ltd., Japan Tobacco Inc., KT and G Co. Ltd., Modi Enterprises, Philip Morris International Inc., Poschl Tabak GmbH and Co KG, PT Djarum, Pyxus International Inc, Scandinavian Tobacco Group AS, Vietnam National Tobacco Corp., VST Industries Ltd
British American Tobacco Plc: The company offers cigarettes under brands such as Vuse, glo, and velo.
- View a FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
The hookah tobacco market size is estimated to grow at a CAGR of 4.98% between 2022 and 2027. The size of the market is forecast to increase by USD 745.39 million. This report extensively covers market segmentation by application (FrHT, BevHT, CfHT, and ScHT), product (SHT, MHT, and LHT), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The increasing launch of new products is notably driving the hookah tobacco market growth.
The heat-not-burn tobacco products market size is estimated to grow at a CAGR of 27.05% between 2022 and 2027. The size of the market is forecast to increase by USD 42,172.36 million. This report extensively covers market segmentation by product (devices, capsules, and vaporizers), distribution channel (offline and online, and geography (APAC, North America, Europe, Middle East, and Africa, and South America). The cost-effectiveness of heat-not-burn tobacco products is notably driving the heat-not-burn (HNB) tobacco products market growth.
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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