(MENAFNEditorial) The global cigarette market has witnessed a steady growth over the past years. Despite declining sales in the developed regions due to many factors, the developing regions remain highly lucrative for the market. The latest report by IMARC Group, titled ', finds that the global cigarette market reached a sales value of US$ 816 Billion in 2016, growing at a CAGR of around 7% during 2009-2016. The word cigarette has its origin from the French word 'cigarette which means small cigar. A cigarette is a small cylinder of finely cut tobacco leaves rolled in thin paper for smoking. Most modern manufactured cigarettes are filtered and include reconstituted tobacco and other additives. They are consumed all over the world and come in a wide variety of types and flavours depending on the targeted consumers.
Highlights of the global cigarette market:
With the growing awareness about the harmful effects of smoking cigarettes, the developed markets have witnessed a decline in the cigarette sales. Currently, Asia Pacific represents the largest cigarette market, with China as the largest consumer and producer. The market is expected to reach a value of US$ 1040 Billion by 2022, exhibiting a CAGR of 4.1%. Over the years, the global cigarette market has witnessed significant changes in the consumption patterns. A decline in the adult smoking rates due to rising health consciousness among the consumers has led to a downfall in the demand for cigarettes in the developed regions such as North America and Western Europe. Additionally, strict government regulations, restrictions on marketing and promotions, and increased taxes on tobacco products are some other factors that have affected the market growth. On the other hand, cigarette consumption is growing in low- and middle-income countries. Moreover, premiumisation of products, rising number of both, male and female smokers, the addictive nature of the cigarettes, and strong distribution networks of the manufacturers are driving the market. Owing to the aforementioned factors, the market is anticipated to reach a value of US$ 1040 Billion by 2022.
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The report has analysed the market on the basis of major regions. Currently, Asia Pacific represents the largest cigarette market, accounting for the majority of the total global shares. Within Asia Pacific, China represents the largest consumer and producer. Other major regions include North America, Western Europe, Eastern Europe, Middle East and Africa, and Latin America. The report has also analysed the competitive landscape of the market and finds that the market is highly consolidated with a small number of transnational companies controlling the global cigarette sales. Currently, the top five companies include China National Tobacco Corporation, Imperial Tobacco Group, Phillip Morris International, British America Tobacco and Japan Tobacco International.
The report has examined the global cigarette market on the basis of:
Key Regions:
Asia Pacific North America Western Europe Eastern Europe Middle East and Africa Latin America Key Player:
China National Tobacco Corporation Imperial Tobacco Group Phillip Morris International British America Tobacco Japan Tobacco International Browse related reports:
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