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Jan. 21, 2020, 5:11 a.m. EST

Europe Cigarette Market Research 2020 Business Opportunity, Global Trend, Future Growth, Key Findings and Forecast to 2026

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Jan 21, 2020 (The Expresswire) -- Key Companies Covered in Europe Cigarette Market Report are Philip Morris Products S.A., Japan Tobacco International AG, British American Tobacco p.l.c., Imperial Brands PLC, Bulgartabac Holding, Korea Tobacco & Ginseng Corporation and more

As per the World Health Organization (WHO), Europe witnesses the highest prevalence of tobacco use, which is 29% of the worldwide tobacco consumption. The demand for cigarettes is increasing in different age groups, which is the major factor driving the Europe cigarette market. The cigarette consumption trend is rising among adult and young population, even after the implementation of government initiatives to combat tobacco consumption. A survey conducted by the National Bureau of Economic Research stated that tobacco consumption is related to income levels.

List of prominent companies that are operating in the global Europe Cigarette Market are:

  • Philip Morris Products S.A.

  • Japan Tobacco International AG

  • British American Tobacco p.l.c.

  • Imperial Brands PLC

  • Bulgartabac Holding

  • Korea Tobacco and Ginseng Corporation

  • Heintz Van Landewyck

  • Karelia Tobacco Company Inc.

  • European Tobacco

  • Continental Tobacco Group

The study found that people with either lowest or highest income levels smoke less compared to the middle-class population in European countries. However, the well-known campaign “Cigarette smoking is bad for health” has worked wonders and cigarette consumption has declined in the region. On the market values of cigarettes is increasing owing to the rising consumer trend towards consuming premium cigarettes.

To Gain More Insights into the Market with Detailed Table of Content and Figures, Click Here:

https://www.fortunebusinessinsights.com/industry-reports/europe-cigarette-market-101375

This, coupled with the rise in cigarette prices and change in taxes on cigarettes, is siding the Europe cigarette market growth. Analysts in the report found that the market was valued at US$ 218.61 Bn in 2018 and is anticipated to reach US$ 363.30 Bn by 2026. Furthermore, it was found that the market for cigarettes in Europe is expected to rise at a CAGR of 5.76% during the forecast period.

Fortune Business Insights in a new study, titled “CIGARETTE: EUROPE MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026” entails some of the Europe cigarette market trends and provides an in-depth analysis in the forecast period. The report offers a detailed evaluation of the drivers enabling growth in the market. The report gives a detailed analysis of the market size of different segments. In addition to the segment information, the reader can gain information on drivers, opportunities, restraints, and trends in the Europe cigarette market. The report gives information on the competitive landscape by offering insights into some of the recent industry developments and over the forecast period. Primary and secondary sources have been used to collect and analyze the information.

As per the report, premium cigarettes account for 46.12% in the overall Europe cigarette market share. Increasing modernization and purchasing power of consumers are factors attributing to the growth of this segment. As per, the regular size cigarettes are in high demand in Europe than economy or ultra-low cigarettes.

Germany to Hold 13.04% Share Owing to the Growing Customer Base

Tobacco consumption is higher in Germany than in other European countries. The growth is attributable to the rising trend of dining-out, increasing modernization, and preference towards night lounges. These factors are responsible for building a strong customer base of cigarette consumers in Germany. People aged between 15 and 23 years consume the highest number of cigarettes as the young population is more likely to start smoking. Now manufacturers are planning to introduce nicotine-free cigarettes to attract women and young population in the country. This will fuel demand for new cigarettes, thereby widening the Europe cigarette market scope.

Major Segmentation Includes:

By Gender

  • Male

  • Female

By Age Group

  • 15-24 years

  • 25-44 years

  • 45-64 years

  • 65 years and above

By Pricing

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