Iceland: Cigarettes Market and the Impact of COVID-19 on It in the Medium Term
The cigarettes market in Iceland was equal to 107.00 million USD (calculated in retail prices) in 2015. Until 2025, the cigarettes market in Iceland is forecast to reach 161.74 million USD (in retail prices), thus increasing at a CAGR of 3.68% per annum for the period 2020-2025. This is a decrease, compared to the growth of about 4.99% per year, registered in 2015-2019.
The average consumption per capita in value terms reached 325.76 USD per capita (in retail prices) in 2015. In the next five years, it grew at a CAGR of 4.23% per annum. In the medium term (by 2025), the indicator is forecast to slow down its growth and increase at a CAGR of 2.89% per annum.
One of the most prominent trends on the global cigarettes market is connected with the decrease of smoking rates over the last few years. Although cigarettes remain the largest segment within the tobacco industry, retail volumes have been falling on a global scale. In many countries across the globe, the smoking cigarettes rate has been flat or even declined in recent decades. In both the US and the UK, consumption of cigarettes has fallen. In comparison, countries such as Andorra, Luxembourg and Belarus are leading in per capita consumption of cigarettes.
Another prominent change on the cigarettes market is linked with the growing trend towards the use of e-cigarettes. The major driver behind this trend is the perception that e-cigarettes are a healthier choice than combustible cigarettes. However, regulations in different countries have been influencing differently the development of the category. For example, e-cigarette sales are effectively banned in some countries such as Brazil, Thailand and in some parts of India.
During the last few years there has been an obvious process of consolidation on the overall tobacco market, prompted by declines in traditional cigarette sales. One of the biggest deals was the takeover of Reynolds by British American Tobacco in 2017. Reynolds, on the other hand, completed the acquisition of its US rival Lorillard a year earlier. The combined business of the US and the UK companies is expected to strengthen their presence on markets such as South America, the Middle East and Africa.
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This report presents a strategic analysis of the Icelandic cigarettes market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it. It provides a comprehensive overview of the market volume and value, dynamics, segmentation, characteristics, main players, prices, international trade, trends and insights, growth and demand drivers, challenges, etc. This is one of the most comprehensive reports about the Icelandic cigarettes market, offering unmatched value, accuracy and expert insights.
The purpose of the report is to describe the state of the Icelandic cigarettes market and to present real and expert-verified information about the volumes, values, dynamics, segmentation and characteristics of consumption, prices, imports, and exports. The report also presents a forecast for the market development in the short and medium term and the impact COVID-19 has and will have on it. In addition, the report presents an elaborate analysis of the main market participants, industry trends and insights, growth and demand drivers and challenges and all other factors, influencing the market development.
Questions This Report Answers
The report on the Icelandic cigarettes market covers:
• Market volume, value and dynamics for the last five years;
• Analysis of the factors, influencing the market development (market trends and insights, drivers and challenges) and the impact COVID-19 has and will have on the market in both the short and the medium term;
• Value chain analysis and structure of price formation;
• Analysis of retail price levels and their dynamics for the last five years;
• Analysis of the major international trade flows;
• Volume, value, dynamics, and analysis of imports for the last five years;
• Volume, value, dynamics, and analysis of exports for the last five years;
• Volume and dynamics of the average import and export prices for the last five years;
• Volume, value, dynamics, and analysis of per capita consumption for the last five years;
• Forecast for market development in the medium term;
• Characteristics of the main players on the market;
• Analysis of the competitive landscape;
• Importance of the HoReCa channel (on-trade vs. off-trade consumption);
• Market shares of the main market players;
• Distribution channels for retail sales;
• Five Forces analysis;
• Analysis and forecast for the global economy and demographics.
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With the help of this report you can:
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• Track and identify key market trends and insights and key drivers behind recent market changes and see the impact COVID-19 has and will have on the market in both the short and the medium term;
• Strategically assess growth potential, opportunities, demand drivers and challenges on the market;
• Strategically assess the importance of the HoReCa channel on the market;
• Discover the importance of each distribution channel for the retail market;
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What Kind of Data Is Presented in This Report?
This report presents data, which is:
• Reliable (the report is prepared using a proven methodology, including both primary and secondary research);
• Expert-verified (the data is cross-checked and confirmed by more than 10 local experts, representatives of the main market players);
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This report presents reliable and real market data, providing valuable support to make important strategic decisions regarding:
• Strategic planning;
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• Regional and country evaluation and opportunity analysis;
• Market entry;
• Market growth;
• Pricing and promotion;
• New product development;
• Sourcing and supply chain management;
• Company evaluation;
• Mergers and acquisitions.
Who Is This Report for?
This report is for people who already are actively working on this market, representatives of producers, distributors, importers, exporters, wholesalers, retailers, suppliers:
• Industry C Level executives;
• Industry strategists;
• Marketing professionals;
• Business development professionals;
• Product developers;
• Product marketers and strategists;
• Product managers;
• Project managers;
This report is also for people, not directly or actively involved in the market, representatives of investors, consultants, advisors and financial institutions:
• Management consultants;
• Investment managers;
• Financial professionals;
• Bank managers;
• M&A managers.
This research report has been prepared using the proven WMStrategy’s methodology, including a blend of qualitative and quantitative data. The information comes from official sources and insights from market experts (representatives of the main market participants), gathered by semi-structured interviews. For this particular report, more than 10 market expert interviews have been conducted with experts from the leading market companies (producers, distributors, retailers, suppliers, etc.). The full list of interviewed experts and a detailed methodology are available upon request.
This report covers the following product groups:
• Cigarettes (including filtered cigarettes; excluding cigars, cigarillos, smoking tobacco (roll-your-own tobacco (RYO tobacco), pipe tobacco), untaxed cigarettes).
This is the most valuable, detailed (COVID-19 updated) and comprehensive report about the Icelandic cigarettes market currently available! We also offer similar reports, covering every global country and region separately and offer special terms for bundle purchases. So, if you are interested in the Icelandic cigarettes market, this research report will provide you with reliable, expert-verified and real market data you can safely and confidently base your decisions on. In a quick and hassle-free way, it will provide you with a strategic analysis of the market, its recent and future development. In addition, this solution will save you time and money while presenting you all the necessary information, empowering you to make informed commercial decisions and move your business forward!
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