Tobacco Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global tobacco market reached a volume of 8.2 Million Tons in 2018, registering a CAGR of around 1.5% during 2011-2018. The market is further projected to reach a volume of around 9.1 Million Tons by 2024, at a CAGR of around 1.4% during 2019-2024. Tobacco products are prepared by curing the leaves of tobacco plant which is a part of the genus Nicotiana of the Solanaceae family. There are more than 70 species of tobacco known till now, however, N. tabacum remains the chief commercial crop. Tobacco contains a colourless volatile alkaloid, nicotine, which is responsible for stimulating brain functions, increasing blood pressure, constricting peripheral blood vessels and raising heart rate. Dried tobacco leaves are majorly used for smoking in cigarettes, cigars, pipes and shisha; and as chewing tobacco, snuff, snus and dipping tobacco.
Global Tobacco Market Drivers/Constraints:
The demand for tobacco has recently witnessed a shift from the developed regions to the developing nations such as Asia and Africa. This can be accredited to the increasing population, elevating income levels of the consumers and lenient government regulations.
Introduction of numerous premium tobacco products such as flavoured, long and skinny, coloured and e-cigarettes by the manufacturers has further created a positive outlook for the growth of the tobacco market.
A surge in investments in the research and development has resulted in the introduction of products with reduced levels of toxicants. This has helped in attracting a larger consumer-base for tobacco products.
Higher levels of education along with rising awareness about health concerns related to tobacco consumption such as different types of cancers, cardiovascular diseases, pulmonary diseases, etc., has hampered the growth of the market. Apart from this, stringent regulations in the developed countries further restricts the market growth.
On the basis of type, the market has been segregated into cigarettes, roll your own, cigars, cigarillos, smokeless tobacco and others. Currently, cigarettes represent the most popular product type, accounting for the majority of the global market. Their rising demand can be attributed to the surging population and tax regulations, especially in the developing countries.
Region-wise, China enjoys the leading position in the global tobacco market due to an increase in the production of tobacco leaves in the region. Moreover, as smoking is considered “cool” among the younger generations, there has been a constant demand for tobacco in the country. Other major regions include India, Brazil, the Unites States and EU 15.
The market is highly concentrated with the presence of three large manufacturers which currently hold more than two-third of the total share. Strong brand image and distribution networks of existing players make it difficult for new entrants to survive in the market. Some of the leading players operating in the market are:
China National Tobacco Corporation
Phillip Morris International
British America Tobacco
Japan Tobacco International
Imperial Tobacco Group
This report provides a deep insight into the global tobacco 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 tobacco processing and 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 tobacco industry in any manner.
Key Questions Answered in This Report:
How has the global tobacco market performed so far and how will it perform in the coming years?
What are the key regional markets in the global tobacco industry?
What are the key product types in the global tobacco industry?
How has the global cigarette market performed so far and how will it perform in the coming years?
What are the key regional markets in the global cigarette industry?
What are the various stages in the value chain of the global tobacco industry?
What are the key driving factors and challenges in the global tobacco industry?
What is the structure of the global tobacco and cigarette industry and who are the key players?
What is the degree of competition in the global tobacco industry?
What are the profit margins in the tobacco industry?
What are the key requirements for setting up a tobacco processing plant?
How is tobacco processed?
How is cigarette manufactured?
What are the various unit operations involved in a tobacco processing plant?
What is the total size of land required for setting up a tobacco processing plant?
What are the machinery requirements for setting up a tobacco processing plant?
What are the raw material requirements for setting up a tobacco processing plant?
What are the utility requirements for setting up a tobacco processing plant?
What are the manpower requirements for setting up a tobacco processing plant?
What are the infrastructure costs for setting up a tobacco processing plant?
What are the capital costs for setting up a tobacco processing plant?
What will be the income and expenditures for a tobacco processing plant?
What is the time required to break-even?
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