Cigarette Market Size, Share, Industry & Opportunities 2031

Report Description

Global Cigarette Market Outlook 2031: 

The global cigarette market size was valued at USD 1.7 Trillion in 2022 and is projected to reach USD 1.46 Trillion by 2031, expanding at a CAGR of 3.48% during the forecast period 2023 - 2031. Cigarette is one of the most preferred tobacco products consumed across the world. It is a small cigar made of a thin paper containing shredded or ground tobacco. Most of the cigarettes are produced with a reconstituted product of tobacco which includes recycled stems of tobacco.

Earlier in the 19th century, cigarettes were available in the form of reeds and smoking tubes. Later in the 1800s, Juan Nepomuceno Adorno developed cigarette making machines in Mexico. Gradually with time, cigarettes were introduced in a wide variety of shapes, sizes, colours, flavors, and intensity as per the preference among consumers.

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Cigarette Market Trends, Drivers, Restraints, and Opportunities:

• Major raw materials required for the manufacturing of cigarette are tobacco leaves, cut tobacco, cigarette filter, tipping paper, cigarette paper, whiteboard, laminated paper, and glue. The presence of a large number of suppliers of these materials is driving the production of cigarette across the globe.
• Increasing number of smokers across the globe due to hectic and stressful lifestyles is catalyzing the growth of the cigarette market.
• Growing awareness about the ill-effects of smoking cigarettes and stringent government regulations can create challenges for the market growth.
• Rising disposable income of the consumers has created several opportunities for the cigarette manufacturers, such as raising the product prices and shifting smokers onto the premium products.

Scope of Cigarette Market report:

The report cigarette market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Cigarette Market Segment Insights:

Light segment to account a considerable market share

Based on types, the market can be divided into light, medium, and others. The light segment to hold a significant market share in the coming years. Rising number of female smokers and strong distribution network of cigarette manufacturers are major factors driving the growth of the market segment.

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Non-flavored segment to grow at a rapid pace

In terms of flavors, the market can be segregated into flavored and non-flavored. The non-flavored segment to account for a major market share during the forecast period. On the other hand, the flavored segment to grow at a rapid pace in the coming years. F

lavored tobacco products are gaining significant momentum and have become much more prevalent in the last few years across the world. These products are flavored smokeless tobacco, e-cigarettes, and menthol cigarettes. They are sold in a variety of flavors range from confectionery flavors to alcoholic beverages to herbs and spices.

Regular segment accounted  a major market share in 2020

On the basis of formats, the market can be fragmented into slim, super slim, king size, and regular. The regular segment accounted for a major market share in the coming years. Changing lifestyle, continuous product innovation in terms of flavor, and the preference for regular-sized cigarettes among consumers are major drivers of the market segment growth.

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Cigarettes segment to hold a major market share

Based on Distribution Channels (Tobacco Shops, Supermarket and Hypermarkets, Convenience Stores, Online Stores, and Others). Currently, there are numerous means from which the consumers can obtain the desired cigarettes including tobacco shops, supermarket and hypermarkets, convenience stores, online stores and others.

Tobacco shops are the most popular distribution channels as they offer a wide variety of specialized tobacco products ranging from premium cigars and cigarettes to ashtrays and humidification devices.

Asia Pacific held a significant market share in 2020

In terms of regions, the market can be fragmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific accounted for over 35% market share in 2020.

Improvement in retail infrastructure and extensive brand campaigns by leading tobacco manufacturing firms, including Philip Morris International and British American Tobacco, in key markets, including China, Bangladesh, India, and the Philippines, are expected to remain favorable factors for the market growth in this region.

Furthermore, the industry participants are targeting the consumers by launching flavored cigarettes, which are popular among consumers, particularly youth and millennials.

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