Harrisburg, NC -- (SBWIRE) -- 10/30/2020 -- The Market Insights Reports has added a new statistical market report to its repository titled as, Tobacco Products Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The report also presents forecasts for Tobacco Products investments from 2020 to 2023.
The global tobacco products market is expected to decline from $270.9 billion in 2019 to $268.8 billion in 2020 at a compound annual growth rate (CAGR) of -0.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 4% from 2021 and reach $298.4 billion in 2023.
Top Leading Companies of Global Tobacco Products Market are Philip Morris International Inc.; Imperial Tobacco; Altria Group Inc; British American Tobacco; Japan Tobacco Inc. and others.
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Asia Pacific was the largest region in the global tobacco products market, accounting for 36% of the market in 2019. North America was the second largest region accounting for 29% of the global tobacco products market. Africa was the smallest region in the global tobacco products market.
Cigarette manufacturers are offering innovative cigarettes such as smokeless cigarettes as an alternative to conventional cigarettes. Smokeless cigarettes do not burn the tobacco; instead heat the tobacco just enough to create a smokeless vapor that imparts the flavor of tobacco. Smokeless cigarettes are less harmful and can also help people to quit smoking altogether. For example, in 2016, Philip Morris International, the world's largest cigarette and tobacco company, launched iQOS smokeless cigarettes, which produce 90-95% less harmful chemicals than traditional cigarettes. British American Tobacco (BAT) has invested $1 billion in last 5 years for the development of smoke-free cigarettes.
The tobacco manufacturing market consists of sales of tobacco products by entities (organizations, sole traders and partnerships) that produce tobacco products by stemming and redrying of tobacco and manufacturing cigarettes and other tobacco products. E-cigarettes are not included in this market.
Markets Covered:
1) By Type: Cigarettes, Cigars And Cigarillos Manufacturing; Smoking And Other Tobacco Products Manufacturing
2) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Others
3) By Product Type: Combustible Tobacco; Smokeless Tobacco
Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Tobacco Products Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Geographically, this report is segmented into several key Regions, with sales, revenue, Market Share (%) and Growth Rate (%) of Tobacco Products in these regions, from 2015 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Furthermore, the report provides a detailed analysis of the global Tobacco Products market with an analysis of market size by value and volume. Along with this, an analysis of the penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Tobacco Products market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
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Research uses a bottom-up approach to assess the overall size of the market. Data from different industries and end-user industries and their applications across different product types are recorded and forecast during the forecast period. These segments and sub-segments are documented by industry experts and experts, as well as company representatives, and by analyzing data from these segments and sub-segments over the last few years, externally verified to gain market size.
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