Value and mid-price cigarette segment driving growth of overall cigarette market

Date: 1 February 2020

According to a research report published by Azoth Analytics in January 2020, the Global Cigarette Market was valued at USD 727 billion in the year 2018. Primarily, the growth in the market for cigarettes is chiefly supported by growing expenditure on cigarettes with escalating affordability of cigarettes in various countries backed with rising prevalence of smoking among young population. These factors are forecasted to supplement the Global cigarette market growth during the forecast period.

Global Cigarette market will be majorly driven by growing urbanization with presence of heavy population base and ever-growing prevalence of cigarette smoking in various countries across the world. With burgeoning demand arising for value and mid-price cigarettes, leading global manufacturers are focusing on providing quality products to consumers in order to meet their expectations supported by rising investment in geographical expansion, which will be driving a remarkable growth in the market for Cigarettes during the coming years.

Moreover, Value cigarettes will be followed by mid-price and others owing to wide availability of various cigarettes from different manufacturers at lower cost clubbed with leading companies stressing upon offering innovative products so as to occupy the heaviest market share and investing in improving the distribution channels. These factors will be supplementing the cigarettes market growth globally.

Furthermore, among the regions, Asia Pacific is anticipated to attain the highest market share primarily due to presence of huge consumer base coupled with enhanced prevalence of smoking in countries including Indonesia, Vietnam, Thailand among others and growing middle income class families which are expected to boost the cigarettes market growth globally.

The Azoth Analytics research report titled Global Cigarette MarketReport (2020 Edition): Market Insight, Competition and Forecast (2019-2024) has analysed and segmented the Cigarette Market by Value (USD Billion) and by Volume (Billion Sticks). The report has also further analysed the Cigarette Market By Price Segment (Value, Mid Price, Premium and Others) and By Distribution Channel (Tobacco Shops, Convenience Stores, Supermarkets & Hypermarkets, Online, Others). The Global Cigarette Market has been analysed By Region (North America, Europe, Asia Pacific, LAMEA) and By Country (US, Canada, Germany, France, United Kingdom, China, Japan, India, Indonesia, and Saudi Arabia) for the forecast period of 2019-2024.

 
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