Reports and Data's Global Tobacco Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry's driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.

According to a recent analysis by Reports and Data, the global tobacco market size was valued at USD 935.77 Billion in 2020 and is forecast to expand at a CAGR of 2.2% through 2028.  The market growth is driven by increasing consumer spending on premium tobacco products, coupled with the launch of new flavored tobacco products such as menthol cigars, clove or candy flavoured cigarettes, among others.

Tobacco is a plant from the Nicotiana genus and the Solanaceae family, which contains a colourless volatile alkaloid called nicotine. The nicotine content is then extracted from the leaf to be used in cigarettes, e-cigarettes, pipes, sheesha, cigar, and other products. Nicotine is also being used for Nicotine Replacement Therapies to treat tobacco addiction. 

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Companies Profiled in the Market Study:

Key players contributing towards the Global Tobacco Market share are Pyxus International, Inc., Altria Group, Inc., Swedish Match AB, British American Tobacco, Korea Tobacco & Ginseng Corporation, ITC Limited, Japan Tobacco Inc., Imperial Brands, Scandinavian Tobacco Group, Philip Morris International, and China National Tobacco Corporation, among others.

The leading tobacco manufacturing firms have been coming up with new products to keep up with changing demands from gen Z and millennials. For instance, Philip Morris, a Swiss-American multinational cigarette and tobacco manufacturing company launched IQOS in May 2019. IQOS is an electronic device that heats tobacco-filled paper wrap sticks to generate nicotine-containing aerosol. The company claims that nearly 12.7 million consumers have already switched from cigarettes to their tobacco heating system, IQOS.

On 16 February, 2021, British American Tobacco Korea Ltd. cited the success of its recent digital marketing efforts for promoting e-cigarettes and announced its plan to reach a wider audience by offering potentially-reduced risk tobacco products in the coming years. Previously, BAT Korea has also offered a virtual factory tour during the BAT Innovation Day event, demonstrating the ground-breaking technology for its manufacturing facility in Sacheon, where the company is planning to produce Glo neo sticks, a new tobacco heating product, and the KENT Double Fresh. The growing focus of the company on rolling out non-hazardous products is expected to enhance its market share in the upcoming years.

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By Product

• Smokeless
• Cigar & Cigarillos
• Cigarettes
• Waterpipes
• Next Generation Products
• Others

Key Regional Markets Covered in the Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

The Tobacco market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Tobacco market.

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Frequently Asked Questions Addressed in the Report:

• What is the estimated market revenue growth over the forecast period?
• What are the major factors driving the global Tobacco market revenue growth?
• Which regional market is expected to account for the largest revenue share in the global Tobacco market over the forecast years?
• Which are the leading players in the global Tobacco market?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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