The global tobacco market is growing at a CAGR of 2% over the forecast period. There are various challenges such as stringent regulations, rising health consciousness, and increasing popularity and availability of substitutes, which are threatening the market growth. Major factor hampering the market growth include stringent regulations owing to the rising incidence and prevalence of cancer due to the excessive consumption of tobacco has led to the emergence of stringent regulations.
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The tobacco industry is considered as the most regulated industry across the globe. Regulations imposed on the tobacco industry mainly focuses on the introduction of plain packaging, product-specific regulation, graphic health warnings on packs. Moreover, there are tougher restrictions on smoking in enclosed public places and bans on shops displaying tobacco products at the point of sale that may further hinder the market growth.
Cigarette segment is leading the global tobacco market
China, Indonesia, the US, Russia, and Japan are the five largest cigarette consuming nations across the globe. Sales of cigarettes are shifting from developed markets, such as Western Europe, to emerging markets, such as Asia and Africa. In Asia and Africa, tobacco players are completely leveraging lax regulatory environments, growing number of populations, and increasing incomes. While the sales of cigarette are expanding to new markets, industry market shares are consolidating, and the market is increasingly controlled by a few international companies.
Over the last decade, the global cigarette market has been dominated by five companies namely, China National Tobacco Corp. (CNTC), Japan Tobacco Inc., Philip Morris International, British American Tobacco, and Imperial Tobacco. Over the period 2001-2017, the share of these companies has increased by over 85%.
Current Market Trends Covered in the Global Tobacco Market Report
- Asia-Pacific holds the largest share and is expected to continue to do so during the forecast period.
- Global sales of cigarettes in terms of volume are declining however, their retail market value is increasing.
Global Tobacco Market Segmentation
By Product Type
- Cigarettes
- Cigars and Cigarillos
- Dissolvable Products
- E-Cigarettes
- Smokeless Tobacco Products
- Others
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