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Smoking And Other Tobacco Products Global Market Report 2021: COVID 19 Impact and Recovery to 2030

ReportLinker
·3-min read

Major companies in the smoking and other tobacco products market include Philip Morris International Inc; Imperial Tobacco; Altria Group Inc; British American Tobacco and Japan Tobacco Inc.

New York, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smoking And Other Tobacco Products Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018878/?utm_source=GNW
The global smoking and other tobacco products market is expected to grow from $26.78 billion in 2020 to $27.67 billion in 2021 at a compound annual growth rate (CAGR) of 3.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $34.14 billion in 2025 at a CAGR of 5%.

The smoking and other tobacco products market consists of sales of smoking and other tobacco products by entities (organizations, sole traders and partnerships) that produce loose tobacco such as chewing tobacco, dissolvable tobacco which is used in pipes, roll-your-own (ROY) cigarettes, make-your-own (MOY) cigarettes, and other tobacco products. The smoking and other tobacco products market is segmented into chewing tobacco; snuff tobacco; loose tobacco and other smokeless tobacco.

Asia Pacific was the largest region in the global smoking and other tobacco products market, accounting for 35% of the market in 2020. Western Europe was the second largest region accounting for 25% of the global smoking and other tobacco products market. Eastern Europe was the smallest region in the global smoking and other tobacco products market.

Cigarette companies are innovating in product designs and offering super slim and ultra slim cigarettes to appeal to millennial. These super slim cigarettes are about 4.7 mm in diameter and 99mm in length. New types of cigarettes include long, extra-slim, light-colored with low tar content, and are particularly targeted towards female smokers. Slim and super slim cigarettes are popular especially in Asia, Africa and the Middle East, and their use is increasing in leading consumer markets such as Korea, Japan and Russia. Some of the popular super slim cigarette brands include Davidoff Boudoir (Imperial Tobacco), Winston XS Micro (JTI Ukraine), ESSE (KT&G), Glamour (Gallagher Tobacco Company) and Vogue (British American Tobacco).

Rising awareness about smoking and its addictive nature is expected to restrain the smoking and other tobacco products market going forward. Excessive consumption of tobacco in cigarettes may lead to digestive issues such acidity, rapid heart rate, muscle breakdown, high blood pressure, and anxiety. Increasing awareness on adverse effects of excessive consumption of tobacco, especially among health-conscious millennial, is expected to limit the growth of the smoking and other tobacco products market in the forecast period.

Changing lifestyles of people, especially in the emerging markets, drove the smoking and other tobacco products market in the historic period. For instance, according to centers for disease control and prevention (CDC), in 2018, 34.2 million adults smoked cigarettes. In emerging markets, fast-paced lifestyles, expanding working population and increasing preference for smoking boosted the demand for smoking and other tobacco products, which in turn drove the market for smoking and other tobacco products in the historic period.
Read the full report: https://www.reportlinker.com/p06018878/?utm_source=GNW

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