Healthcare

Tobacco Market Size, Sales & Growth Outlook 2023-2032

The Tobacco Products Global Market Report 2023 by The Business Research Company, provides tobacco products market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/tobacco-products-global-market-report

According to The Business Research Company’s Tobacco Products Global Market Report 2023, the market size is expected to grow from $253.3 billion in 2022 to $266.93 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global tobacco products market is expected to grow to $316.79 billion in 2027 at a CAGR of 4.4%.

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 is segmented:

1) By Type: Cigarettes, Cigars And Cigarillos, Smoking And Other Tobacco Products

2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

3) By Product Type: Combustible Tobacco, Smokeless Tobacco

Cigarette companies are innovating in product designs and offering super slim and ultra-slim cigarettes to appeal to millennials. These super slim cigarettes are about 4.7 mm in diameter and 99 mm in length. New types of cigarettes include long, extra-slim, light-colored with low tar content, and are particularly targeted towards female smokers. Slim and super slim cigarettes are popular, especially in Asia, Africa, and the Middle East, and their use is increasing in leading consumer markets such as Korea, Japan, and Russia. Some of the popular super slim cigarette brands include Davidoff Boudoir (Imperial Tobacco), Winston XS Micro (JTI Ukraine), ESSE (KT&G), Glamour (Gallagher Tobacco Company), and Vogue (British American Tobacco).

The tobacco products market report table of contents includes: