Global Tobacco Market Growth Stimulated by Introduction of Low-Risk Tobacco Products – IMARC Group

Global Tobacco Market Growth Stimulated by Introduction of Low-Risk Tobacco Products - IMARC Group

“Factors such as strong distribution channels, the rising number of smokers, and the introduction of low-risk and light tobacco products targeting female users are sustaining the market growth.”
The global tobacco market has been witnessing stagnant growth over the past few years. Factors such as strong distribution channels, the rising number of smokers, and the introduction of low-risk and light tobacco products targeting female users are sustaining the market growth.

According to the latest report by IMARC Group, titled “Tobacco Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the market size reached a volume of 8.3 Million Tons in 2019. Looking forward, the market is expected to continue its moderate growth during the next five years.

Tobacco refers to a stimulant that triggers complex biochemical and neurotransmitter disruptions. It is prepared by curing the leaves of the tobacco plant, belonging to the Solanaceae family, through the process of drying and fermentation. It contains a colorless volatile alkaloid, also known as nicotine, which acts a depressant and is associated with elevating heart rate, constricting peripheral blood vessels, irritating lung tissue, increasing blood pressure, and affecting brain functions. While chewing tobacco is one of the popular forms of tobacco consumption, it is also consumed as snus, snuff, cigars, shisha, cigarillos and cigarettes.

Global Tobacco Market Trends:

An increase in the number of smokers on the global level, owing to factors such as hectic lifestyles, inflating income levels, and early exposure to tobacco products, is providing thrust to the market growth. Moreover, a strong distribution network of tobacco companies, particularly in countries like China and India, is contributing to the sales of their products.

In addition to this, manufacturers are conducting surveys to assess the requirements of their consumer-base to launch modified and targeted products. For instance, they have introduced long, skinny and lightweight cigarette variants aimed solely at the female consumers. Furthermore, the manufacturers are engaged in research and development activities to develop low-risk tobacco products, owing to rising health awareness among consumers. However, the popularity of e-cigarettes among the millennials along with governments’ initiatives to promote healthy lifestyle habits is expected to hamper the growth of the market.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/tobacco-processing-plant/requestsample

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Summary:

On the basis of type, the market has been categorized into cigarettes, roll your own, cigars, cigarillos, smokeless tobacco and others. Amongst these, cigarettes are the most popular product type, holding the majority of the market share.

On the geographical front, China holds the leading position in the market due to rising population and escalating disposable incomes. Other key regions include India, Brazil, the United States and the EU 15.

The competitive landscape of the market has also been studied in the report. Some of the key players operating in the market include China National Tobacco Corporation, British America Tobacco, Phillip Morris International, Japan Tobacco International and Imperial Tobacco Group.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/tobacco-processing-plant

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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