The global cigarette market was worth US$ 888 Billion in 2018. The market is further projected to reach a value of US$ 1,124 Billion by 2024, growing at a CAGR of nearly 4% during 2019-2024. Cigarettes represent one of the most popular tobacco products being consumed across the world. They are a small cigar made of a thin paper containing shredded or ground tobacco. Most of the cigarettes are produced with a reconstituted product of tobacco which include the recycled stems of tobacco. Earlier in the 9th Century, cigarettes were available in the form of reeds and smoking tubes. Later in the 1800s, Juan Nepomuceno Adorno developed cigarette making machines in Mexico. Gradually with time, cigarettes were introduced in a wide variety of shapes, sizes, colours, flavours and intensity as per the preferences of consumers. Currently, the demand for cigarettes is on a rise, particularly in developing regions such as Asia and Africa. This is due to increasing population and tax government regulations regarding the production of cigarettes.
Global Cigarette Market Drivers:
Breakup by Type:
The cigarette market has been segmented on the basis of different types of cigarettes available for the consumers to choose from such as light, medium and others. Amongst these, light cigarettes represent the largest segment as they are safer and healthier to consume.
Breakup by Distribution Channel:
Currently, there are numerous means from which the consumers can obtain the desired cigarettes including tobacco shops, supermarket and hypermarkets, convenience stores, online stores and others. Tobacco shops are the most popular distribution channels as they offer a wide variety of specialised tobacco products ranging from premium cigars and cigarettes to ashtrays and humidification devices.
On a geographical front, Asia Pacific, excluding Australia, represents the largest market for cigarettes across the globe followed by Eastern Europe, Western Europe, Middle East and Africa, North America, Latin America and Australia. The growth in the Asia Pacific region can be highly attributed to increasing population coupled with elevating disposable incomes.
The global cigarette market is highly concentrated in nature with the presence of few manufacturers who have been competing in terms of prices and quality. Some of the key players operating in the market include China National Tobacco Corporation, Phillip Morris International, British America Tobacco, Japan Tobacco International and Imperial Tobacco Group.
This report provides a deep insight into the global cigarette industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a cigarette manufacturing plant. The study analyses the processing and 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 have any kind of stake or are planning to foray into the cigarette industry in any manner.
Key Questions Answered in This Report:
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