May 19, 2020 (The Expresswire) -- Global “ Cigarette Market 2020-2023 ” has been providing up and changing the worldwide economy as far as growth rate, revenue, deal, market proposition, and scope. The Global Cigarette market Consumption market report is an extensive analysis of this corporate field, which has been established to be one of the most profitable business verticals in futures. The Report specifies the complete estimate of Global Cigarette market business terms , in addition to presenting a brief segmentation of the industry, the expansion opportunities, as well as Key region.
Top-Listed Players in Cigarette Market Research Report 2020-2023
China National Tobacco Corporation-Phillip Morris International-Japan Tobacco International-British America Tobacco-Imperial Tobacco Group-Altria Group Inc-Godfrey Phillips India Ltd. (GPIL)-LANDEWYCK TOBACCO SA-SPS Cigaronne-ITC Limited-Austria Tabak GmbH and Co KG-Gallaher Group
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Overview of Cigarette Market:
Cigarette industry is majorly influenced by changing government regulations related cigarette products. For example, in Japan, the Tokyo Metropolitan Assembly passed an ordinance considering preparation for 2020 Olympics which bans smoking inside 84% of the city’s bars and restaurants which would control smoking at roughly 45% of national bars and restaurants. Globally, few key players in cigarette holds significant market share and some of them are slowly shifting their product portfolio from cigarette to e-cigarette and various smokeless tobacco products and devices. For instance, Philip Morris International (PMI), one of the key player in cigarette industry has made big decision to eventually stop selling cigarettes altogether in order to achieve a “smoke-free” future.The global cigarette market is expected to register a CAGR of 6.4% during the forecast period, 2018 to 2023.Tobacco Control Interventions to Restrain the Cigarette Market GrowthIncreasing disposable income is one of the key factors which is driving the market growth in developing economies such as China and India. However, declining smoking rates due to growing health concern among the consumers has led to a downfall in the demand for cigarettes in the developed regions such as US, UK, and Germany. Additionally, strict government regulations, constraints on promotions and marketing, along with increased taxes on tobacco products are some other factors that have affected the market growth. For instance, In September 2014, the Korean government announced comprehensive smoking cessation policy that included tax increases on cigarettes to improve person’s health. Accordingly, the price of cigarettes up surged in January 2015: the price of most popular cigarette brand was raised from 2,500 won to 4,500 won per pack.Light Cigarettes to Witness Fastest Growth during the Forecast PeriodRising number of female smokers, strong distribution network of cigarette manufacturers, and popularity of flavored cigarettes is supporting the market growth. Increasing cigarette consumption is in low- and middle-income countries is playing key role to drive the market growth. Flavored tobacco products are becoming popular and become much more prevalent in the years last few years across the globe. These products include flavored smokeless tobacco, e-cigarettes, little cigars and cigarillos, large cigars hookah, and dissolvable, in addition to menthol cigarettes, and are sold with various flavors range which includes confectionery flavors, to alcoholic beverage to herbs and spices. According to National Store Observation Data collected in 2014, around 84% of stores sells flavored little cigar or cigarettes and around 67% of stores sells flavored smokeless products. This factor is influencing the sales of cigarette across the globe.Growing Consumption of E-cigarette to Impact Cigarette Market Growth in Asia-PacificAsia-Pacific is the region offering plenty growth opportunities for the key players of smokeless tobacco products and e-cigarettes. Growing urbanization and huge consumer base has been driving the demand for e-cigarettes in the region which is restraining growth of cigarette market. According to the survey, majority of consumers are dual users who have them along with smoking traditional cigarettes which is driving the sales of both e-cigarettes and cigarettes in the region. Impose of high taxes from government is significantly affecting the consumption of cigarettes in the developing countries like China and India. The WHO stressed that “the smoking regulation by raising the price of cigarettes was the most effective and cost-efficient to curb the smoking”. Additionally, Tobacco Control Legal Consortium said that “the price of cigarettes has a significant relationship with people’s consumption. When cigarette prices go up, people are inclined to smoke less or quit”. Thus, increasing cigarette price is considered a reasonable measure to restrain cigarette consumption in the region.Key Developments in the Cigarette MarketJul 2018: Philip Morris International Inc. takes another step towards a smoke-free future through a strategic collaboration with Parallax, a Canadian-based start-up. The agreement focuses on advancing the development and commercialization of an effective nicotine-delivery system that leverages the most advanced technologies in pulmonary medicine.Jun 2018: Imperial Tobacco is set to expand its crushball range with the addition of JPS Player’s Superkings Crushball and LandB Blue Ice Crushball Superkings.Cigarette Market Competitive LandscapeCigarette Market
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Key Highlights from Cigarette Market Report 2020.
Revenue and Sales Estimation — Historical Revenue and sales volume is presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well recognized Types and end-use industry. Additionally, macroeconomic factor and regulatory policies are as curtained in Cigarette industry evolution and predictive analysis.
Manufacturing Analysis —the report is currently analyzed concerning various product type and application. The Cigarette Market provides a chapter highlighting manufacturing process analysis validated via primary information collected through Industry and Key officials of profiled companies.
Competition — Leading players have been analyzed depending on their company profile, product portfolio, capacity, product/service price, sales, and cost/profit.
Demand and Supply and Effectiveness — Cigarette Market report additionally provides distribution, Production, Consumption for the complete industry.
Cigarette MarketTop Regions(regional analysis covers):-
North America (the USA, Canada, andMexico)
Europe (Germany, France, UK, Russia, andItaly)
Asia-Pacific (China, Japan, Korea, India, andSoutheast Asia)
South America, Middle East, andAfrica
Reasons to Purchase Cigarette Market ReportAnalyzing outlook of the market with the recent trends and Porter’s five forces analysisMarket dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to comeMarket segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspectsRegional and country level analysis integrating the demand and supply forces that are influencing the growth of the marketCompetitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five yearsComprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players3-month analyst supports, along with the Market Estimates sheet in excel
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Cigarette Market 2020 Report Brief:-
The report covers forecast and analysis for the Cigarette market on a global and regional level
The report includes the drivers and the restraints that affect the growth of the market
Detailed information about the market opportunities are discussed