The global tobacco market size is poised to reach USD 167.84 billion by 2023, according to a new report by Technavio, progressing at a CAGR of 4% during the forecast period.
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Technavio has published a new market research report on the global tobacco market from 2019-2023. (Graphic: Business Wire)
Read the 121-page research report with TOC on "Tobacco Market Analysis Report by product (combustible tobacco products and smokeless tobacco products) and geography (APAC, Europe, North America, MEA, and South America) 2019-2023" at:
https://www.technavio.com/report/global-tobacco-market-industry-analysis
The market is driven by an increase in new product launches. Also, the rising demand for cigars and smoking tobacco products is anticipated to boost demand leading to market growth during the forecast period.
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The increasing number of new product launches have been encouraging the growth of the global tobacco market. The rise in demand for tobacco products in various countries has led vendors to launch innovative products in categories such as snuff, moist snuff, RYO, and pipe tobacco.
Furthermore, the rising demand for cigars and smoking tobacco products is one of the primary factors that will trigger the expansion of the global tobacco market. This is because of the shift in consumer preferences and continuous product innovation of tobacco products across the globe. The popularity of cigars has significantly risen because of the availability of different variants such as Cuban cigars and Caribbean cigars. Moreover, premiumization in the cigar category and increasing demand for smoking tobacco products such as fine cut tobacco is expected to positively impact market growth during the forecast period.
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The report includes detailed profiles of the leading companies prominent vendors of the market:
- Altria Group
- British American Tobacco
- China National Tobacco Corporation
- Imperial Brands
- Japan Tobacco
- PHILIP MORRIS INTERNATIONAL MANAGEMENT
Market Segmentation by Category and Product Types:
The Tobacco Market can be broadly categorized into the following product segment:
- Combustible tobacco products
- Smokeless tobacco products
Key Regions for the Tobacco Market:
Featuring a breakdown of region-wise market shares until 2019.
- APAC
- Europe
- North America
- MEA
- South America
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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