Tobacco Market by Tobacco Type (Cigarettes, Smoking Tobacco, Smokeless Tobacco, Cigars & Cigarillos),Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026.
The global tobacco market is expected to grow from USD 689.4 Billion in 2018 to USD 934.5 Billion by 2026 at a CAGR of 3.9% during the forecast period from 2019-2026. Rising use of automated techniques in manufacturing tobacco products and online retailing is further propelling the growth are the two factors affecting the demand of the market.
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The cigarettes segment and valued around USD 288.16 Billion in 2018
The tobacco type segment is segmented into cigarettes, smoking tobacco and smokeless tobacco cigars & cigarillos. The cigarettes segment is dominating the market. A cigarette, also known colloquially as a fag in British English, is a narrow cylinder containing psychoactive material, usually tobacco that is rolled into thin paper for smoking. Most cigarettes contain a “reconstituted tobacco” product known as “sheet”, which consists of “recycled [tobacco] stems, stalks, scraps, collected dust, and floor sweepings”, to which are added glue, chemicals and fillers; the product is then sprayed with nicotine that was extracted from the tobacco scraps, and shaped into curls.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region is dominating the market due to the growing number of organized retailing outlets makes tobacco products easily accessible and available to consumers. This is one of the primary factors that will drive the growth of the tobacco market in this region.
The major players of market include Altria Group, Inc.; Reynolds American Inc.; Hongyunhonghe Tobacco (Group) Co.; British American Tobacco p.l.c. (BAT), Ltd.; Japan Tobacco Inc.; Imperial Brands PLC; and Philip Morris International Inc.. For instance, British American Tobacco and Philip Morris International plan to launch vaping products in the United Arab Emirates after the government lifts the ban on the sale of e-cigarettes and vaping devices in April
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