A recent report published by Infinium Global Research on the cigarette market provides an in-depth analysis of segments and sub-segments in the global as well as regional cigarette market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cigarette market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global cigarette market. According to the report, the global cigarette market is projected to grow at a CAGR of 4.0% over the forecast period of 2019-2025.
The cigarette is a narrow cylinder filled with psychoactive material, generally tobacco, which is rolled into thin paper for smoking. The cigarette industry is mainly affected by constantly changing government regulations and rules for cigarette products. The Tokyo Metropolitan Assembly in Japan passed an ordinance considering preparation bans smoking inside 84% of the city’s bars and restaurants for the 2020 Olympics which is expected to control smoking at around 45% of national restaurants and bars.
The global cigarette market is primarily driven by the rising disposable income in developed countries as well as developing economies. Moreover, growth in the count of smokers across the globe due to the stressful and hectic lifestyles enlarges the number of consumers which is expected to fuel the market growth in the near future. However, constraints on marketing and promotions, strict government regulations, higher taxes on cigarettes along with declining smoking rates owing to rising health concern within the consumers are expected to hinder the demand for global cigarette market. Nonetheless, Rising hectic and busy schedules and growth in the working population and an increasing number of female smokers is anticipated to create a new opportunity for the global cigarette market.
On the basis of region, the global cigarette market is bifurcated into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The Asia Pacific held the largest revenue share in 2018 owing to growing urbanization and a huge consumer base for cigarettes in the region. Rising taxes by various countries' governments are anticipated to affecting the consumption of cigarettes in developing countries such as India and China. The Asia Pacific is estimated to be the fastest-growing region within the projected years. North America accounted for the second-largest market share in 2018 and the Asia Pacific is followed by North America and Europe.
The report on the global cigarette market covers segments such as product category, tobacco type, and distribution channel. On the basis of product category, the sub-markets include hard, light, and medium. On the basis of tobacco type, the sub-markets include virginia, burley, flue-cured tobacco, and oriental. On the basis of distribution channel, the sub-markets include convenience stores, tobacco shops, and online stores.
The report provides profiles of the companies in the market such as China National Tobacco Corporation, Phillip Morris International, Japan Tobacco International, British America Tobacco, Imperial Tobacco Group, Altria Group Inc., Godfrey Phillips India Ltd. (GPIL), LANDEWYCK TOBACCO SA, SPS Cigaronne, and ITC Limited.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the cigarette market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.