Tobacco Products Market Type, Application, Region - 2019

Tobacco and mankind have been associated since prehistory, and in a manner, while not unique, unlike most human-vegetable relationship. Tobacco is the main ingredient for cigarettes, cigars, bidis, and other chewing tobacco products such as pan masala. Although there are many ways for using tobacco, cigarettes are the main products which use 75-80% of the world tobacco supply. Tobacco products consumption varies from region to region.

The market for tobacco products is projected to grow significantly in most of the regions of the world (especially in developing and developed nations) in the next five years even though there are lot of restrictions and regulations posed by governments. However, tobacco products consumption have shown decline in the trend across developed nations such as U.S. & European countries. As per Food and Agriculture Organization, consumption of tobacco products is increasing rapidly around the world, but with strikingly divergent patterns. In developed countries, consumption per capita is higher but declining, while in the developing countries (where consumption per capita is lower) it shows an increasing trend.

The growth of the tobacco products such as cigars & cigarettes market is primarily triggered by factors such as increased per capita income and people focus on life-style change patterns. High income growth coupled with high income elasticities boost consumption of tobacco products in populous countries such as China, India, and Brazil. China alone accounted for nearly 37% of market share in the global tobacco industry in the 2013. Other factors influencing demand for tobacco include prices, habits, taxation, smoking restrictions, the most important of which is the retail price of tobacco products.

Tobacco Products Market Share (Value), by Region, 2013

Tobacco Product Market

Source: Expert Interviews and MarketsandMarkets Analysis

This report has estimated the size of the tobacco products market in terms of value ($million). In this report, the market has broadly been segmented on the basis of types, applications, and regions. Market drivers, restraints, opportunities, and challenges; and raw material and product price trends have been discussed in detail. Share of participants in the overall market have been discussed in detail. The market has grown significantly in the last few years and this growth is projected to continue.