Advancements in product offerings drive the global cigarette market, as companies strive for a competitive advantage and increased sales.
Notably, Philip Morris International Inc. introduced an affordable heated tobacco product in November 2022, supporting a move towards a smoke-free future. Similarly, in August 2021 Philip Morris International Co., Ltd. launched of IQOS ILUMA in Japan, utilizing induction heating to simplify cleaning and blade elimination.
Between 2022 and 2027, the cigarette market is expected to rise at a compound annual growth rate (CAGR) of 3.75%, followed by revenue expansion of USD 141.91 billion. Shortly, market expansion is expected to be driven by these calculated launches.
When it comes to the market trends the escalating appetite for e-cigarettes is fueling market advancement. These stylish gadgets replicate the smoking experience by heating liquid into an inhalable mist, causing ripples across various markets.
Overview of the Cigarette Market
Top brands of cigarettes and e-cigarettes have the following main products to offer.
Pairing affordability with clever online promotions targeting diverse age groups, these devices are propelling the cigarette market into an exciting future. Explore our detailed report for deeper insights into the changing cigarette market. Uncover strategic industry shifts, projected market growth, and influential trends.
Cigarettes Market Highlights