Latest News:- Cigarettes Market: Flavored is expected to lead the Type segment during 2024-2028

Cigarettes Market to grow at a CAGR of 3.3% during 2024-2028

The Cigarettes Market is expected to grow at a CAGR of 3.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 128.9 billion. The global cigarettes market is experiencing significant growth due to shifting consumer preferences towards less harmful alternatives, such as e-cigarettes and heat-not-burn tobacco products. These innovative solutions have gained traction among consumers, particularly younger demographics, due to their modern, tech-savvy appeal and diverse flavor offerings. E-cigarettes, specifically, are electronic devices that simulate the smoking experience by heating a liquid to produce an aerosol for inhalation. The market for e-cigarettes is currently thriving, with increasing penetration across various markets, and is projected to expand further during the forecast period, fueled by the introduction of new, advanced products. 

Get more information on Cigarettes Market by requesting a sample report

The Flavored subsegment is expected to dominate the Type segment during the forecast period 

Technavio analysts predict that the Flavored subsegment will lead the Type segment during 2024 and 2028 In the dynamic cigarettes market, vendors cater to diverse consumer preferences beyond traditional non-flavored cigarettes. These offerings encompass fruit-flavored, clove, menthol, herbal, and confectionery-flavored cigarettes. Flavorings are incorporated through tobacco blending or flavored capsules in filters. Millennials are particularly drawn to these enhanced smoking experiences. Notably, menthol cigarettes remain popular among children and adolescents in North America and Europe. Vendors are leveraging digital promotions and advertisements to boost sales, significantly expanding the market reach for the flavored segment, thereby fueling the growth of the global cigarettes market throughout the forecast period.

Here are the various ways based on which the market is segmented: 

• Type
  • Flavored
  • Non-Flavored
• Distribution Channel
  • Offline
  • Online
• Geography
  • APAC
  • Europe
  • North America
  • Middle East and Africa
  • South America

Reasons to Purchase the Global Cigarettes Market Market Research Report by Technavio. What is in it for you?

• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
• Insight into Current Market Trends: Our research reports provide our readers insights into the latest market intelligence, competitor strategies, market trends, changes taking place in the industry and customer preferences, forecasted market opportunities that influence them to make better business decisions
• High ROI with Extensive Hands-on Research: Technavio is renowned for offering personalized market research reports as per unique business needs, delving deep into specific markets, product segments and demographics. Additionally, it is also well-known for providing high return on investments through its wide collection of data at pocket-friendly rates

There are several factors that are causing the market to flourish increasing number of new cigarettes launches

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The cigarettes market encompasses a wide range of nicotine products, including traditional cigarettes, snuff, and smokeless tobacco, among others. While religious rituals and cultural traditions have historically played a role in the use of tobacco, health concerns and smoke-related diseases have fueled a growing demand for antiseptic properties and smoke-free products. Traditional cigarettes continue to dominate the market, with menthol and high-nicotine varieties popular among chain smokers, young generation, and those attending night parties. However, the rise of e-commerce platforms and retail shops selling smokeless products, such as low-nicotine cigarettes, e-cigarettes, and dissolvable tobacco, is challenging the traditional cigarette market. Flavored tobacco and hookah are also popular alternatives, particularly among the young demographic with disposable incomes. The tobacco industry's marketing tactics, including targeting high-school students and promoting lifestyle habits, have faced increasing scrutiny in the face of Quit Smoking and No Smoking campaigns. Despite these efforts, the health risks associated with nicotine products remain a significant concern, with smoke-related diseases and nicotine addiction affecting millions worldwide. The tobacco industry continues to innovate, with new products and marketing strategies, making it essential to stay informed and make informed choices.

Market Research Overview

The global tobacco market encompasses businesses involved in the research and development or production of both combustible and non-combustible tobacco products. This sector includes cigarettes, cigars, and cigarillos, as well as dissolvable tobacco, oral tobacco, and electronic cigarettes. Additionally, legal cannabis and industrial hemp-based products are part of this market. According to Technavio, the market size is determined by the collective revenue generated by manufacturers in the food, beverage, and tobacco industries. Factors driving growth in the tobacco market include the expanding global population and the increasing consumer base for tobacco products.

The Cigarettes Market is experiencing significant growth, fueled by the increasing number of new cigarettes launches. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/