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Tobacco Market Report and Forecast 2024-2032

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    Report

  • 173 Pages
  • November 2023
  • Region: Global
  • Expert Market Research
  • ID: 5921325
According to the report, the global tobacco market is projected to grow at a CAGR of 2.10% between 2024 and 2032 reaching a value of approximate USD 1057.59 billion by 2032. Aided by the traditional cultural significance of tobacco and its embedded role in certain societies, coupled with its diverse applications, the market is expected to grow significantly by 2032.

Tobacco, native to the tropical regions of America but now cultivated worldwide, has been used for centuries for ceremonial, medicinal, and recreational purposes. It's primarily consumed in the form of cigarettes, cigars, snuff, snus, and chewing tobacco. Apart from its widespread recreational use, tobacco has seen applications in pest control in agriculture, owing to its pesticidal properties.

The ingrained cultural and societal norms surrounding tobacco consumption are fuelling the global tobacco market growth. Many societies have integrated tobacco into their rituals, celebrations, and day-to-day activities, ensuring a steady demand. Moreover, the rise of niche tobacco products, like flavoured cigars, e-cigarettes, and heated tobacco products, has attracted a younger demographic, further boosting market dynamics.

The global tobacco industry's vastness is not solely due to its consumer base but also its diverse applications. The agricultural sector, for instance, has leveraged the natural pesticidal properties of tobacco in organic farming, providing an alternative to chemical pesticides. This application reflects a more sustainable use of tobacco and showcases its potential beyond traditional consumption, leading to an augmentation of the tobacco market outlook.

These health concerns have induced a shift in the industry. Many tobacco giants are pivoting towards developing reduced-risk products (RRPs) like e-cigarettes, snus, and nicotine pouches. These products, marketed as less harmful alternatives to traditional tobacco products, have been gaining traction, especially among the younger population. They not only reflect the industry's adaptability but also its attempt to align with the growing health consciousness among consumers.

Additionally, sustainability has become a focal point in the tobacco industry. From sustainable farming practices to reduce the environmental impact, to implementing child labour-free policies and ensuring fair wages in tobacco cultivation, the industry is gradually acknowledging its social responsibilities.

Furthermore, one of the major tobacco market trends is premiumisation of tobacco-based products. As disposable incomes rise and the middle-class demographic expands globally, there's a notable shift towards premium tobacco products. Handcrafted cigars, boutique cigarette brands, and luxury smoking accessories are seeing heightened demand, especially in emerging economies.

Market Segmentation

The market can be divided based on product type and region.

Market Breakup by Product Type

  • Cigarettes
  • Roll Your Own
  • Cigars
  • Cigarillos
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global tobacco market. Some of the major players explored in the report are as follows:
  • KT&G Co., Ltd.
  • Philip Morris International Inc.
  • BAT British American Tobacco p.l.c.
  • JT International SA
  • Imperial Brands PLC
  • ITC Limited
  • PT. Gudang Garam Tbk
  • Scandinavian Tobacco Group A/S
  • Universal Corporation
  • China Tobacco International (HK) Company Limited
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Tobacco Market Analysis
8.1 Key Industry Highlights
8.2 Global Tobacco Historical Market (2018-2023)
8.3 Global Tobacco Market Forecast (2024-2032)
8.4 Global Tobacco Market by Product Type
8.4.1 Cigarettes
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Roll Your Own
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Cigars
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Cigarillos
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Tobacco Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyer's Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Exporting Countries:
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 KT&G Co., Ltd.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Philip Morris International Inc.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 BAT British American Tobacco p.l.c.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 JT International SA
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Imperial Brands PLC
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 ITC Limited
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 PT. Gudang Garam Tbk
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Scandinavian Tobacco Group A/S
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Universal Corporation
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 China Tobacco International (HK) Company Limited
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 Others
15 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Tobacco Market: Key Industry Highlights, 2018 and 2032
2. Global Tobacco Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Tobacco Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Tobacco Historical Market: Breakup by Region (USD Billion), 2018-2023
5. Global Tobacco Market Forecast: Breakup by Region (USD Billion), 2024-2032
6. North America Tobacco Historical Market: Breakup by Country (USD Billion), 2018-2023
7. North America Tobacco Market Forecast: Breakup by Country (USD Billion), 2024-2032
8. Europe Tobacco Historical Market: Breakup by Country (USD Billion), 2018-2023
9. Europe Tobacco Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Asia Pacific Tobacco Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Asia Pacific Tobacco Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Latin America Tobacco Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Latin America Tobacco Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Middle East and Africa Tobacco Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Middle East and Africa Tobacco Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Major Exporting Countries by Value
17. Major Importing Countries by Value
18. Major Exporting Countries by Volume
19. Major Importing Countries by Volume
20. Global Tobacco Market Structure

Companies Mentioned

  • KT&G Co. Ltd.
  • Philip Morris International Inc.
  • BAT British American Tobacco p.l.c.
  • JT International SA
  • Imperial Brands PLC
  • ITC Limited
  • PT. Gudang Garam Tbk
  • Scandinavian Tobacco Group A/S
  • Universal Corporation
  • China Tobacco International (HK) Company Limited

Methodology

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Table Information