$ 146.5 Billion Growth Expected in Tobacco Market | COVID-19 Impact Analysis in Q1 2021 | APAC to Notice Fastest Growth | Technavio
NEW YORK, April 26, 2021 /PRNewswire/ --
The global tobacco market by end-user (combustible tobacco products and smokeless tobacco products) and geography (APAC, Europe, North America, MEA, and South America) has been added to Technavio's offering. The global tobacco market is expected to grow by USD 146.5 billion, at a CAGR of almost 4% during 2021-2025.
The market witnessed a certain decline in the production volume of tobacco during the first few months of 2020 due to the rapid spread of COVID-19. This led to slow growth in the market for tobacco in 2020. However, rising demand from millennials and the growing prevalence of tobacco consumption among people are expected to fuel the market growth during the forecast period.
The market is expected to be driven by factors such as new product launches, rising demand for cigars and smoking tobacco products, and increasing organized retail outlets selling tobacco products.
Tobacco Market: Opportunities
Smokeless tobacco products such as chewing tobacco and snus are increasingly becoming popular. Fine-cut tobacco products such as pipe tobacco and RYO tobacco products are also gaining traction in the tobacco market. In addition, the increasing demand for tobacco from the younger population and the rising availability of tobacco products in retail stores are expected to provide several growth opportunities for market vendors during the forecast period.
Tobacco Market: Segmentation by End-user
Based on the segmentation by end-user, the market generated maximum revenue in the combustible tobacco products segment in 2020. The segment is driven by the increasing acceptance of products such as pipe tobacco and RYO tobacco in countries such as Germany, Belgium, the US, the Netherlands, and France. Also, the rising demand for roll your own (RYO) tobacco products is contributing to the growth of the combustible tobacco products segment.
Tobacco Market: Segmentation by Geography
APAC held the largest market share in 2020 and the market growth in the region is expected to be the fastest compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the rising popularity of cigar and smoking tobacco products and the increasing number of organized retailing outlets. In addition, the rising demand for tobacco among the millennials in the region is expected to further drive the growth of the tobacco market in APAC during the forecast period.
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Tobacco Market: Major Vendors
Altria Group Inc.
The company offers cigarettes through the brands, Benson & Hedges, Marlboro, and others. The company offers combustible cigarettes, machine-made large cigars, and pipe tobacco. The company also offers moist smokeless tobacco and snus products manufactured and sold by USSTC, and oral nicotine pouches sold by Helix.
Djarum
The company offers cigarettes through several domestic and international brands. The company offers cigarettes through brands like Djarum Black, Djarum LA Lights, and others.
Imperial Brands Plc
The company deals with the distribution of tobacco and NGP products for tobacco and NGP product manufacturers, including Imperial Brands. The company offers cigars, tobacco papers, tubes through subsidiaries namely Reemtsma in Germany, Altadis in Spain, and Seita in France.
JT International SA
The company offers cigarettes, rolling tobacco, cigars, snuffs through several brands. The company offers cigarettes through the brands, Winston and Mevius. It offers other products through other brands as well.
Poschl Tabak GmbH and Co. KG
The company offers snuff, cigarettes, pipe tobacco, schmaltzier and other products. The company offers cigarette tobacco through the brands, Holland Art and Pueblo. It offers filtered cigarettes through the brand Pueblo. It offers other tobacco products as well.
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Combustible tobacco products - Market size and forecast 2020-2025
- Smokeless tobacco products - Market size and forecast 2020-2025
- Impact of COVID-19 on product segments of market and recovery from pandemic
- Market opportunity by End-user
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Altria Group Inc.
- British American Tobacco Plc
- Djarum
- Imperial Brands Plc
- JT International SA
- Philip Morris International Inc.
- Poschl Tabak GmbH and Co. KG
- Pyxus International Inc.
- Scandinavian Tobacco Group AS
- Vector Group Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Report: www.technavio.com/report/tobacco-market-industry-analysis
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