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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

The Worldwide Tobacco Industry is Expected to Reach $908+ Billion by 2026 - ResearchAndMarkets.com

December 17, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Dec 17, 2021--

The “Global Tobacco Market, By Product Type (Cigarettes, Cigars, Smoking Tobacco, Smokeless Tobacco (Oral Tobacco)), By Distribution Channel (Specialty Stores, Convenience Stores, Supermarkets/Hypermarkets, and Others), By Region, Competition, Forecast & Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.

The global tobacco market was valued at $729.90 billion in 2020 and is expected to grow at a rate of 3.78% during the forecast period to reach $908.29 billion by 2026.

Companies Mentioned

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  • British American Tobacco p.l.c.
  • Philip Morris International Inc.
  • Imperial Brands PLC
  • Altria Group, Inc.
  • Japan Tobacco Inc.
  • PT Gudang Garam Tbk
  • ITC Limited
  • KT&G Corporation
  • Swedish Match AB
  • Scandinavian Tobacco Group A/S

The Global Tobacco Market is being pushed by population growth as well as economic development, which is increasing consumers’ purchasing power. Tobacco is a plant, the leaves of which are dried and fermented before being used to make tobacco products. Tobacco includes nicotine, a substance that can lead to addiction, which is why so many people struggle to quit smoking.

Many other potentially dangerous compounds can be present in tobacco or are formed when it is burned. Adults are the primary users of tobacco, but a growing number of young students are also now contributing to the growing market share. The tobacco products that the companies offer to their customers come in the form of smoke, chew, or sniff tobacco. Cigarettes, cigars, bidis, and kreteks are examples of smoked tobacco products. Some individuals also use a pipe or hookah to smoke loose tobacco (water pipe). Chewing tobacco, snuff, and snus are all chewed tobacco products, with snuff being the only one that can be sniffed.

According to the US Food and Drug Administration (FDA), every day, on average, about 1,500 youth aged 12-17 smoke their first cigarette and more than 200 youth aged under 12-17 become daily smokers. Within United States, 4.6 percent of high school students (710,000) and 1.6 percent of middle school students (190,000) currently smoke cigarettes. Although lowering smoking rates in industrialized nations may limit market development as the popularity of e-cigarettes grows, the industry is expected to rise at a healthy rate due to the increased incidence of smoking among youth.

Objective of the Study:

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  • To analyze the historical growth in the market size of the Global Tobacco Market from 2016 to 2020.
  • To estimate and forecast the market size of the Global Tobacco Market from 2021 to 2026 and growth rate until 2026.
  • To classify and forecast the Global Tobacco Market based on the product type, distribution channel, and regional distribution.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Tobacco Market.
  • To identify the dominant region or segment in the Global Tobacco Market.
  • To identify drivers and challenges for the Global Tobacco Market.
  • To identify and analyze the profile of leading players operating in the Global Tobacco Market.
  • To identify key sustainable strategies adopted by market players in the Global Tobacco Market.

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Global Tobacco Market

4. Executive Summary

5. Voice of Customer

5.1. Factors Influencing Purchase Decisions

5.2. Brand Awareness

5.3. Challenges Faced by Customers

5.4. Preferred Distribution Channels

6. Global Tobacco Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Product Type (Cigarettes, Cigars, Smoking Tobacco, Smokeless Tobacco (Oral Tobacco))

6.2.2. By Distribution Channel (Specialty Stores, Convenience Stores, Supermarkets/Hypermarkets, Others (Online, Counter Shops, etc.))

6.2.3. By Region

6.2.4. By Company

6.3. Market Map

7. Asia- Pacific Tobacco Market Outlook

8. North America Tobacco Market Outlook

9. Europe Tobacco Market Outlook

10. South America Tobacco Market Outlook

11. Middle East and Africa Tobacco Market Outlook

12. Market Dynamics

12.1. Drivers

12.2. Challenges

13. Market Trends & Developments

14. Competitive Landscape

15. Strategic Recommendations

16. About the Publisher & Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/57e2er

View source version on businesswire.com:https://www.businesswire.com/news/home/20211217005486/en/

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KEYWORD:

INDUSTRY KEYWORD: TOBACCO RETAIL

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 12/17/2021 12:15 PM/DISC: 12/17/2021 12:16 PM

http://www.businesswire.com/news/home/20211217005486/en