Global Cigarette Market Increasing Demand, Growth Analysis and Outlook 2018-2023by IMARC Group Market Research Reports Cigarettes are one of the most widely consumed forms of tobacco and hold nearly 90% of the total global tobacco sales. The term ‘cigarette’, which stands for a small cigar, was originally derived from the French language. It refers to a thin cylinder of finely cut tobacco which is rolled-up in a paper for smoking. According to IMARC Group, the global cigarette market size was estimated to be US$ 853 Billion in 2017. Looking forward, the market is expected to reach a value of nearly US$ 1,081 Billion by 2023, at a projected CAGR of approximately 4% during 2018-2023.
Want to find out more about this report? Click here for a free sample: https://www.imarcgroup.com/request?type=report&id=633&flag=B
Over the past few years, the market has witnessed a moderate growth owing to the easy availability of raw materials. Moreover, the manufacturers are introducing new product varieties, such as filter, menthol, clove and e-cigarettes, in order to widen their consumer-base. In addition to this, skinny cigarettes were launched exclusively for attracting the female smokers, whereas slim and e-cigarettes are targeted towards health-conscious consumers who smoke occasionally. Apart from this, hectic and stressful lifestyles have also increased the demand for cigarettes as they help in relieving stress and tension. Nonetheless, as consumers are becoming aware of the negative impacts of consuming tobacco, it is hindering the growth of the market.Global Cigarette Market Drivers:
- Nowadays, there are different types of cigarettes available in the market such as filter cigarettes, menthol cigarettes, clove cigarettes, etc., providing the cigarette consumers a variety of options to choose between the products.
- Major raw materials required for the manufacturing of cigarette are tobacco leaves, cut tobacco, cigarette filter, tipping paper, cigarette paper, whiteboard, aluminium laminated paper and glue. There are large number of suppliers of these materials present in the market which is driving the production of cigarette.
- Over the past few years, there has been an increase in the number of smokers across the globe. This is mainly the result of hectic and stressful lifestyles being led by the consumers which is currently catalysing the growth of the cigarette market.
- In some of the developing regions, such as Asia Pacific, the disposable incomes of the consumers have been rising which creates several growth opportunities for the cigarette manufacturers to raise their product price and shift smokers onto the premium products.
- Cigarette consumers in the rural areas of several developing regions like India, China, Pakistan, etc., traditionally prefer several tobacco products such as hukkah, beedi, etc. instead of cigarette. However, it has been observed that over the past few years, due to a rise in the awareness about the product, a large number of rural tobacco consuming population is shifting towards cigarette.
Breakup by Type:The cigarette market has been segmented on the basis of different types of cigarettes available for the consumers to choose from such as light, medium and hard. Amongst these, light cigarettes represent the largest segment as they are safer and healthier to consume.
Breakup by Distribution Channel:Currently, there are numerous means from which the consumers can obtain the desired cigarettes including Tobacco Shops, Supermarket and Hypermarkets, Convenience Stores and Online Stores. Tobacco shops are the most popular distribution channels as they offer a wide variety of specialised tobacco products ranging from premium cigars and cigarettes to ashtrays and humidification devices.
Regional Insights:On a geographical front, Asia Pacific, excluding Australia, represents the largest market for cigarettes across the globe followed by Eastern Europe, Western Europe, Middle East and Africa, North America, Latin America and Australia. The growth in the Asia Pacific region can be highly attributed to increasing population coupled with elevating disposable incomes.
Competitive Landscape:The global cigarette market is highly concentrated in nature with the presence of few manufacturers who have been competing in terms of prices and quality. Some of the key players operating in the market include China National Tobacco Corporation, Phillip Morris International, British America Tobacco, Japan Tobacco International and Imperial Tobacco Group.
About IMARC Group:IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the cigarette industry, which has enabled the clients to successfully set up and expand their businesses. Some of the company’s offerings include:
- Market Research
- Plant Setup
- Plant Expansion
- Marketing and sales
- Procurement and Distribution
- Innovation and Product Development
Created on Jan 11th 2019 02:17. Viewed 131 times.