According to the latest report by IMARC Group, titled "Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global cigarette market size reached US$ 925 Billion in 2019. A cigarette is a cylindrical-shaped product that comprises tobacco, chemical additives, and flavorings as the key ingredients. It is made up of finely cut and cured tobacco leaves that are wrapped in a thin paper. Nicotine, a liquid present in tobacco, is the primary component that leads to the development of smoking addiction. The filter present at one of the ends of the cigarette aids in blocking large tar particles from entering the lungs of the smokers. Cigarettes are widely available in numerous sizes, shapes, intensity and flavors to cater to a diverse array of consumer preferences.
Global Cigarette Market Trends:
The global market is primarily driven by a significant increase in the number of smokers across the globe. Hectic schedules and long working hours of working professionals have led them to adopt smoking as a means to combat stress. This, along with peer pressure and early exposure to smoking among young adults, is contributing to the market growth. The rising product demand from developing economies is acting as another major growth-inducing factor. This can be attributed to the confluence of several factors, such as population explosion, urbanization, changing lifestyle patterns and inflating consumer spending capacities. Furthermore, the continual launch of innovative product variants, such as slim cigarettes, along with attractive and aesthetically pleasing packaging, is further contributing to the market growth. Manufacturers are also introducing clove, chocolate and menthol-flavored cigarettes as well as single and double capsule variants, which are gaining widespread popularity among the users. Looking forward, the market is expected to reach a value of US$ 1,157 Billion by 2025, growing at a CAGR of 3.8% during 2020-2025.
- On the basis of the type, light cigarettes represent the most preferred product type, followed by medium cigarettes and others.
- Based on the distribution channel, the market has been divided into tobacco shops, supermarkets and hypermarkets, convenience stores, and online stores. Among these, tobacco shops account for the majority of the total market share.
- On the geographical front, Asia Pacific (excluding Australia) holds the leading position in the market. Other major regions include North America, Western Europe, Eastern Europe, Middle East and Africa, Latin America and Australia.
- The competitive landscape of the market has also been examined with some of the key players being China National Tobacco Corporation, Imperial Brands PLC, Philip Morris International Inc., British American Tobacco p.l.c. and Japan Tobacco Inc.
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