The Tobacco Products Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Tobacco Products Global Market Report 2024, The tobacco products market size has grown steadily in recent years. It will grow from $270.24 billion in 2023 to $282.79 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to consumer habit and addiction, tobacco industry dominance, cultural and social traditions, effective marketing and branding, tobacco taxation and regulation.
The tobacco products market size is expected to see steady growth in the next few years. It will grow to $334.96 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to health-conscious consumer preferences, reduced smoking prevalence, regulations and packaging changes, alternative products and harm reduction, global market expansion. Major trends in the forecast period include e-cigarettes and vaping, heat-not-burn products, reduced nicotine and low-tar products, menthol and flavored tobacco products, smokeless and snus products.
The world’s population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. Trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for tobacco products due to the rising population during the forecast period.
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The tobacco products market covered in this report is segmented –
1) By Type: Cigarettes, Cigars And Cigarillos; Smoking And Other Tobacco Products
2) By Product Type: Combustible Tobacco; Smokeless Tobacco
3) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Other Distribution Channels
Subsegments Covered: Cigarettes; Cigars And Cigarillos; Chewing Tobacco ; Snuff Tobacco ; Other Smokeless Tobacco; Loose Tobacco
The tobacco products market report table of contents includes:
- Executive Summary
- Tobacco Products Market Characteristics
- Tobacco Products Product/Service Analysis -Product/Service Examples
- Tobacco Products Market Trends And Strategies
- Tobacco Products Market – Macro Economic Scenario
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- Global Tobacco Products Market Competitive Benchmarking
- Global Tobacco Products Market Competitive Dashboard
- Key Mergers And Acquisitions In The Tobacco Products Market
- Tobacco Products Market Future Outlook and Potential Analysis
- Appendix
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