Authored By: Sarah
11 Dec 2023

Charting the Future:  USD141.91 Billion Cigarette Market Driven by Innovations and Top Brands

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.

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Overview of the Cigarette Market

Top brands of cigarettes and e-cigarettes have the following main products to offer.

  • British American Tobacco Plc is a corporation that sells cigarettes under the Velo, Glo, and Vuse brands.
  • Eastern Co. SAE sells Cleopatra White, Cleopatra Queen Soft, and Cleopatra Super Star are among the cigarettes.
  • ITC Ltd. sells cigarettes under the names Players, Scissors, Capstan, Berkeley, Bristol, Flake, Silk Cut, Duke, and Royal, as well as India Kings, Classic, Gold Flake, American Club, Wills Navy Cut, and others.

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

  • The Cigarettes market is segmented by Type (Flavored and Non-flavored ), Distribution Channel (Offline and Online ), and Geography (APAC, Europe, North America, Middle East and Africa, and South America).
  • APAC led the market with 55% of the market growth set to originate from this region during the forecast period.
  • Increasing number of product launches is one of the primary factors driving the growth of the cigarette market. The report provides a detailed study of this and all the other drivers that will boost market growth. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. 
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