NEW YORK, April 26, 2021 /PRNewswire/ --
The global tobacco market by end-user (combustible tobacco products and smokeless tobacco products) and geography (APAC, Europe, North America, MEA, and South America) has been added to Technavio's offering. The global tobacco market is expected to grow by USD 146.5 billion, at a CAGR of almost 4% during 2021-2025.
The market witnessed a certain decline in the production volume of tobacco during the first few months of 2020 due to the rapid spread of COVID-19. This led to slow growth in the market for tobacco in 2020. However, rising demand from millennials and the growing prevalence of tobacco consumption among people are expected to fuel the market growth during the forecast period.
The market is expected to be driven by factors such as new product launches, rising demand for cigars and smoking tobacco products, and increasing organized retail outlets selling tobacco products.
Tobacco Market: Opportunities
Smokeless tobacco products such as chewing tobacco and snus are increasingly becoming popular. Fine-cut tobacco products such as pipe tobacco and RYO tobacco products are also gaining traction in the tobacco market. In addition, the increasing demand for tobacco from the younger population and the rising availability of tobacco products in retail stores are expected to provide several growth opportunities for market vendors during the forecast period.
Tobacco Market: Segmentation by End-user
Based on the segmentation by end-user, the market generated maximum revenue in the combustible tobacco products segment in 2020. The segment is driven by the increasing acceptance of products such as pipe tobacco and RYO tobacco in countries such as Germany, Belgium, the US, the Netherlands, and France. Also, the rising demand for roll your own (RYO) tobacco products is contributing to the growth of the combustible tobacco products segment.
Tobacco Market: Segmentation by Geography
APAC held the largest market share in 2020 and the market growth in the region is expected to be the fastest compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the rising popularity of cigar and smoking tobacco products and the increasing number of organized retailing outlets. In addition, the rising demand for tobacco among the millennials in the region is expected to further drive the growth of the tobacco market in APAC during the forecast period.
Develop strategies to make the most of future growth opportunities
Grab an Exclusive Report Now!
Tobacco Market: Major Vendors
Altria Group Inc.
The company offers cigarettes through the brands, Benson & Hedges, Marlboro, and others. The company offers combustible cigarettes, machine-made large cigars, and pipe tobacco. The company also offers moist smokeless tobacco and snus products manufactured and sold by USSTC, and oral nicotine pouches sold by Helix.
Djarum
The company offers cigarettes through several domestic and international brands. The company offers cigarettes through brands like Djarum Black, Djarum LA Lights, and others.
Imperial Brands Plc
The company deals with the distribution of tobacco and NGP products for tobacco and NGP product manufacturers, including Imperial Brands. The company offers cigars, tobacco papers, tubes through subsidiaries namely Reemtsma in Germany, Altadis in Spain, and Seita in France.
JT International SA
The company offers cigarettes, rolling tobacco, cigars, snuffs through several brands. The company offers cigarettes through the brands, Winston and Mevius. It offers other products through other brands as well.
Poschl Tabak GmbH and Co. KG
The company offers snuff, cigarettes, pipe tobacco, schmaltzier and other products. The company offers cigarette tobacco through the brands, Holland Art and Pueblo. It offers filtered cigarettes through the brand Pueblo. It offers other tobacco products as well.
Related Reports on Tobacco Market:
Global Tobacco Alternative Gums Market – Global tobacco alternative gums market is segmented by type (2-mg nicotine gum and 4-mg nicotine gum), geography (North America, Europe, APAC, MEA, and South America), and distribution channel (Offline and Online).
Download an Exclusive Free Sample Report
Global Hookah Tobacco Market – Global hookah tobacco market is segmented by product (SHT, MHT, and LHT), application (FrHT, BevHT, CfHT, and ScHT), and geography (APAC, Europe, MEA, North America, and South America).
Download an Exclusive Free Sample Report
Global E-cigarette Market – Global e-cigarette market is segmented by product (modular e-cigarette, next-generation products, rechargeable e-cigarette, and disposable e-cigarette) and geography (North America, Europe, APAC, South America, and MEA).
Download an Exclusive Free Sample Report
Global Flavored Cigar Market – Global flavored cigar market is segmented by type (hand-rolled and machine-made), product (fruit-flavored cigar, alcohol- and non-alcohol-flavored cigar, and others), and geography (North America, Europe, APAC, MEA, and South America).
Download an Exclusive Free Sample Report
Global Legal Cannabis Market – Global legal cannabis market is segmented by product (medical and recreational) and geography (APAC, Europe, MEA, North America, and South America).
Download an Exclusive Free Sample Report
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
Report: www.technavio.com/report/tobacco-market-industry-analysis
SOURCE Technavio
Share this article