Global Tobacco Market is estimated to witness a CAGR of 3.75% during the forecast period (2020 - 2025).
- Increasing smoking prevalence and stable demand for tobacco products are the key factors driving growth in the global tobacco market. Though stricter regulations and restrictions are being imposed in various countries aiming to reduce tobacco consumption, the market studied is expected to grow over the forecast period owing to rising prices.
- Tobacco is one of the significant sources of tax revenue for governments worldwide. Owing to lax regulatory environments, developing economies are now fuelling growth in the market.
- Cigarettes have been observed to be the most popular tobacco product, owing to various factors such as convenience, experience offered, cost-effectiveness, among others.
- The tobacco market is consolidated with the presence of a few large players accounting for a significant share worldwide. Regulatory barriers discourage new entrants in the market studied.
Key Market Trends
Increasing Demand for Cigarettes
Rising disposable incomes and hectic lifestyles have led to an increased demand for cigarettes in the market studied, owing to consumer belief that they reduce stress and anxiety. Cigarettes can be consumed in a short span of time, disposed of with convenience, and the smell can be masked with ease, in comparison to other tobacco products. The prevalence of flavored cigarettes, which are available in a wide array of flavors is expected to further propel the demand for combustible cigarettes.
Asia-Pacific Holds a Significant Share in the Market
Asia-Pacific is one of the largest producers and consumers of tobacco globally, led by countries such as China and India. Four of the largest tobacco companies worldwide i.e. China National Tobacco Corporation, Japan Tobacco Inc., PT Gudang Garam Tbk, and ITC Limited are based in the region. China is the largest market in the region, with a significant percentage of its population consuming tobacco products. With lax in the regulations in countries such as India, for instance, the ban on the consumption of tobacco products in public places, and also the rising availability of tobacco products in modern retail outlets in the region are factors that are actively driving the growth of the tobacco market in the Asia-Pacific region.
Global tobacco market is consolidated and comprises of a few large players, who hold most of the share in the market. Some of the major players in the market are China National Tobacco Corporation, Philip Morris International Inc., British American Tobacco plc, Japan Tobacco Inc., Imperial Brands plc, Altria Group, Inc., PT Gudang Garam Tbk, Eastern Company SAE, KT&G Corp, ITC Limited, among others.
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1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.2 Cigars and Cigarillos
5.1.3 Smoking Tobacco
5.1.4 Smokeless Tobacco
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Specialty Stores
5.2.4 Other Distribution Channels
5.3.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.3 Asia Pacific
220.127.116.11 Rest of Asia-Pacific
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle East & Africa
22.214.171.124 South Africa
126.96.36.199 Saudi Arabia
188.8.131.52 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 China National Tobacco Corporation
6.4.2 Philip Morris International Inc.
6.4.3 British American Tobacco plc
6.4.4 Japan Tobacco Inc.
6.4.5 Imperial Brands plc
6.4.6 Altria Group, Inc.
6.4.7 PT Gudang Garam Tbk
6.4.8 Eastern Company SAE
6.4.9 KT&G Corp
6.4.10 ITC Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.