Global Cigarette Market Driven by Growing Sales in Developing Regions

“Global Cigarette Market Driven by Growing Sales in Developing Regions”
The global cigarette market has witnessed a shift in consumption patterns over the years. Currently, the market is mainly being driven by the increase in cigarette sales in a number of developing countries in the African and Asian region.

The latest report by IMARC Group titled, “Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022” provides a qualitative and quantitative evaluation of the global cigarette market. Cigarettes represent one of the most popular types of tobacco products, accounting for a large share of the global tobacco sales. They are consumed all over the world and come in a large number of types and flavours depending on the targeted consumers. Some of the major cigarette types include ultralights, lights, filter, filter-less, long and skinny, wides, etc. while the most preferred flavours include cloves, menthol, chocolate, mint, cherry, orange and mango. Currently, the global cigarette market represents one of the most lucrative markets with the sales value reaching US$ 816 Billion in 2016, growing at a CAGR of around 7% during 2009-2016.

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The global cigarette market has witnessed a shift in consumption patterns over years. As a result of the decline in adult smoking rate sowing to growing health consciousness among consumers the cigarette consumption in the developed regions such as North America and Western Europe has levelled off. Some of the other factors affecting the cigarette sales in these regions include strict government regulations, restrictions on marketing and promotions, and increased taxes on tobacco products. On the other hand, in the developing regions such Asia and Africa the market has been expanding continuously. This can be attributed to a number of factors such as lenient government regulations, growing population, premiumisation, refined promotion by manufacturers and early exposure. Moreover, the manufacturers are also trying to drive their profits by increasing cigarette prices and launching innovative products aimed at expanding their consumer base. As a result of these changing trends, the global cigarette market is further expected to reach a value of around US$ 1,000 Billion by 2022.

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The report has analysed the market on the basis of major regions. Based on the finding of the report, Asia Pacific currently represents the largest cigarette market, accounting for the majority of the total global shares. Other major regions include North America, Western Europe, Eastern Europe, Middle East and Africa and Latin America. The report has also analysed the competitive landscape of the market and finds that the market is highly consolidated with a number of transnational companies controlling the global cigarette sales. Currently, the top five companies include China National Tobacco Corporation, Imperial Tobacco Group, Phillip Morris International, British America Tobacco and Japan Tobacco International. 

The report gives a detailed roadmap for starting a cigarette manufacturing plant. The study, done by one of the leading research and advisory firms, covers all the requisite aspects of the global cigarette market. This ranges from a comprehensive view of the market to minute details of the industry performance, processing & manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. The report also provides SWOT, Value Chain and Porter’s Five Forces analysis. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the cigarette market in any manner.

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