Global Tobacco Market Opportunities & Forecast, 2020-2027
Tobacco is the cured leafy plant named as Nicotiana containing two alkaloids: Nicotine and Harmala. The Harmala Alkaloids is a group of chemical structure including Harmine, Harmaline and Harmalol, which inhibits the metabolism of the monoamine compounds in the central nervous system. The Nicotine Alkaloid is a stimulant released from depression, stress, anxiety, irritability, difficulty concentrating, and sleep disturbances. The dried tobacco leaves are mainly used for the manufacturing of Cigarettes, Smoking Tobacco, Cigars, Cigarillos and Shishas. Tobacco is majorly grown in countries like China, India, Brazil, the USA, Indonesia, Malawi, Argentina, Tanzania, Zimbabwe and Pakistan.
The major factors contributing towards the growth of the global tobacco market includes the rising demand for cigars and smoking tobacco products among the young target customers. The drastic shift in the consumer’s preference and the continuous product innovation of tobacco across the globe are accelerating the demand for the global tobacco market. The increasing trend of machine-made clove cigarettes is a perfect example of the change in consumer’s preference towards more sophisticated products. The adoption of modern lifestyle, high disposable income and early exposure to tobacco products will further drive growth of the global tobacco market. The increasing popularity of alternative products such as e-cigarette and the easy availability of traditional nicotine replacement therapies such as gum, patches, and lozenges will have a negative impact on the growth of the global Tobacco market. Moreover, the rising number of government’s initiatives to promote healthy lifestyle habits and the growing mass media campaigns against tobacco usage will further hamper the Global Tobacco market over the coming years. For instance, Bhutan is the only country which has prohibited the cultivation, production, and marketing of tobacco-based products under the section of Tobacco Control Act of Bhutan 2010.
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Various notable players operating in the market include British American Tobacco p.l.c. (BAT), Altria Group, Inc., Hongyunhonghe Tobacco (Group) Co., Ltd., Imperial Brands PLC, Philip Morris International Inc., Japan Tobacco Inc., Scandinavian Tobacco Group, Altadis SA, ITC Limited among others. Manufacturers are concentrating on the new product launch, product innovation, and merger & acquisition to expand their business across the globe. Also, increasing the adoption of technological advancements brings product innovation in multinational companies, which will boost the growth of the global tobacco market.
The global tobacco market has been segmented based on type, distribution channel, and key regions. Based on Type, the market is segmented Cigarettes, Smoking Tobacco, Smokeless Tobacco, Cigars, Cigarillos, and Others. Based on the Distribution Channel, the market is segmented Hypermarket/Supermarket, Convenience Stores, Specialty Stores, Online Stores, and Others.
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Key questions answered in this research report:
- At what pace is the global tobacco market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in the global tobacco market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global tobacco market?
- What are the various types of the global tobacco market and how they are poised to grow?
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