Dublin, Feb. 19, 2019 (GLOBE NEWSWIRE) -- The "Tobacco Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
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.
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.
Type Insights:
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.
Regional Insights:
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.
Competitive Landscape:
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
For more information about this report visit https://www.researchandmarkets.com/research/jw6hgk/global_tobacco?w=12
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