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Global Cigarette Market to Reach US$ 1,328.8 Billion by 2028, Spurred by Introduction of Innovative Product Variants

Published on Nov 22, 2022

The latest report by IMARC Group, titled “Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global cigarette market size reached US$ 1,077.9 Billion in 2022. A cigarette is a cylindrical roll of shredded or grounded tobacco wrapped in thin paper. It is ignited at one end to inhale the smoke through the other end. It contains several chemical additives, flavorings, and nicotine, which is a highly addictive central nervous system (CNS) stimulant that gives instant relaxation. Nowadays, cigarettes are gaining traction among adults across the globe as they are available in different shapes, sizes, colors, flavors, and intensities as per consumer preferences.

Global Cigarette Market Trends:

The market is primarily driven by the easy availability of different types of cigarettes, such as menthol and clove cigarettes, which have provided consumers with a wide array of options. In addition, the increasing number of smokers across the globe due to hectic and stressful lifestyles represents another major growth-inducing factor. Besides this, key players are launching innovative product variants, such as flavor-changing capsules and cigarettes with filters, to expand their consumer base. They are also adopting attractive packaging and aggressive promotional strategies to gain a competitive edge in the market. This, coupled with the shifting consumer preferences toward premium products on account of increasing disposable incomes and rapid urbanization, is facilitating the market growth. Furthermore, the rising availability of cigarettes on online retail channels with lucrative price discounts is anticipated to propel the market growth in the coming years. Looking forward, IMARC Group expects the market value to reach US$ 1,328.8 Billion by 2028, exhibiting a CAGR of 3.48% during the forecast period (2023-2028).

Market Summary:

  • Based on the type, the market has been segmented into light, medium, and others. Amongst these, light cigarettes exhibit a clear dominance in the market.
  • On the basis of the distribution channel, the market has been segmented into tobacco shops, supermarkets and hypermarkets, convenience stores, online stores and others. Currently, tobacco shops account for the majority of the market share.
  • Region-wise, Asia Pacific (excluding Australia) holds the leading position in the market. Other major regions include Eastern Europe, Western Europe, Middle East and Africa, North America, Latin America and Australia.
  • The competitive landscape of the market has also been analyzed, with some of the key players being China National Tobacco Corporation, Philip Morris International Inc., British American Tobacco plc, Japan Tobacco Inc., and Imperial Brands plc.
     

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