A new report published by IMARC Group titled “Tobacco Market – Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue” extensively discusses the global market for tobacco and provides a deep insight into the industry trends and potential market opportunities. Grown in warm climates, tobacco is made from the leaves of a plant named N.Tebacum which belongs to the Solanacaea family of the Nicotine genus. Tobacco products can be categorised as smoking tobacco and smokeless tobacco which can be smoked, snuffed or chewed. A wide range of tobacco products are presently available in the market such as Cigarettes, RYO (Roll Your Own), Cigars and Cigarillos. Among these forms of tobacco, cigarettes remain the most common form.
The global tobacco market has witnessed several changes over the past several years. The tobacco production continues to contract in the developed countries due to rising awareness about the harmful effects of tobacco. In the developing countries, on the other hand, the production is continuously rising as a result of surrogated promotion by transnational companies. Growing population, increasing disposable incomes and premiumisation of products can also be accredited for the growth of the market. However, government intervention by imposing ban on smoking and rising health awareness amongst the consumers remain a major challenge to the tobacco industry. Estimates by IMARC Group suggest that the market has grown at a CAGR of 2.5 % during 2008-2015, reaching a volume of 8 Million Tons in 2015.
The report has segmented the market on the basis of product type and major regions. At present, cigarettes account for the majority of the total global tobacco consumption followed by Roll Your Own, Cigars, Cigarillos, Smokeless, Nicotine Replacement Therapy, Electric cigarettes and Pipes. Region-wise, China currently represents both the world’s largest producer and consumer of tobacco and accounts for nearly half of the total global production. Other regions covered in this report include India, Brazil, the United States, European Union, Zimbabwe, Turkey, Indonesia, USSR (Former Area) and Malawi. On a competitive front, the global tobacco market is highly dominated by five companies: China National Tobacco Corporation, Phillip Morris International, British America Tobacco, Japan Tobacco International and Imperial Tobacco Group.
This report provides a detailed roadmap for setting up a tobacco processing plant. The study done by one of the world’s pre-eminent research and advisory firms, covers all the essential aspects of the global tobacco market. This ranges from a comprehensive view of the tobacco market to minute details of the industry performance, manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the tobacco market in any manner.
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