According to IMARC Group’s latest report, titled “Tobacco Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global tobacco market size reached 8.5 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 9.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.45% during 2023-2028.
Tobacco is a plant that belongs to the Solanaceae family and is widely used for smoking, chewing, or snuffing. It contains the addictive substance nicotine that is responsible for increasing blood pressure and raising heart rate. Dried tobacco leaves are primarily used in the production of cigarettes, cigars, and pipes. While being extremely popular, tobacco consumption is widely associated with adverse health and severe addiction in some cases.
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Global Tobacco Market Trends:
The increasing number of smokers represents one of the key factors across the globe. In line with this, the continual launch of premium tobacco products, including flavoured, long and skinny, coloured, and e-cigarettes, by the manufacturers is contributing to the market growth. Moreover, rising health consciousness has led to the introduction of product variants with reduced level of toxicants. This is acting as a major growth-inducing factor. In addition to this, the easy availability of the product across distribution channels in various forms and often at affordable price point is also facilitating the product sales, thus driving the market growth. Other factors, such rising disposable income and consumer expenditure capacities, aggressive promotional activities undertaken by leading players, and extensive research and development (R&D), are creating a positive outlook for the market further across the globe.
- China National Tobacco Corporation
- Phillip Morris International
- British America Tobacco
- Japan Tobacco International
- Imperial Tobacco Group
Key Market Segmentation:
The report has categorized the tobacco market based on type and region.
Breakup by Type:
- Roll Your Own
- Smokeless Tobacco
- United States
- EU 15
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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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