Authored By: Sarah
13 Feb 2025

Latest News- Tobacco Market: Offline is expected to lead the Distribution Channel segment during 2025-2029

The Tobacco Market is being driven by Increasing number of new product launches

The Tobacco Market is expected to grow at a CAGR of 4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 192.8 billion. Commencing in 2020, notable tobacco market players have pursued mergers and acquisitions to broaden their market reach and increase market share. Small, specialized vendors in the tobacco sector have been targeted for acquisition, enabling larger entities to penetrate emerging markets. In July 2024, Philip Morris International Inc. announced the acquisition of Nicoventures Technology BV, a Dutch producer of nicotine pouches and vaping products. This strategic move is projected to enlarge PMI's smoke-free product offerings and propel its transition into a leading smoke-free products company. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

  • Distribution Channel
    • Offline
    • Online
  • Product
    • Combustible tobacco products
    • Smokeless tobacco products
  • Packaging Type
    • Paper
    • Paper Boxes
    • Plastic
    • Jute
    • Others
  • Geography
    • APAC
      • China
      • India
      • Japan
    • Europe
      • Germany
      • UK
      • France
    • North America
      • Canada
      • US
    • Middle East and Africa
      • South America
        • Brazil

    According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

    • Increasing number of new product launches
    • Rising demand for cigars and smoking tobacco products
    • Increasing number of organized retail outlets selling tobacco products

    However, the market also witnesses some limitations, which are as follows:

    • Stringent regulations on tobacco industry
    • Negative effect on health
    • Increasing popularity of substitutes

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    Market Scope in Tobacco Market Research Report

    Market Scope

    Report Coverage

    Details

    Page number

    197

    Base year

    2024

    Historic period

    2019-2023

    Forecast period

    2025-2029

    Growth momentum & CAGR

    Accelerate at a CAGR of 4%

    Market growth 2025-2029

    USD 192.8 billion

    Market structure

    market_structure.ucfirst

    YoY growth 2024-2025(%)

    3.8

    Key countries

    China, Germany, Japan, US, France, India, UK, UAE, Brazil, and Canada

    Competitive landscape

    Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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    Find out which segment is leading the market by accessing the free PDF report

    Research Analysis Overview

    The Tobacco Products market encompasses various forms of nicotine delivery systems, including Burley, Cigar, Cigarette, Electronic Cigarette, and Smokeless Tobacco derivatives like Snuff and Kretek. The global consumer base for these products is vast, with industry reports indicating significant revenue generation. Nicotiana species, such as Nicotine, are used to produce tobacco for these items. New product ranges, like next-Generation Products (NGPs), are emerging, including Oriental and paper-based products like Jute and Paper Boxes, as well as plastic alternatives. Tobacco consumption remains high, affecting total population health, particularly among youth. Nicotine remains a common denominator in these products, despite efforts to reduce usage.

    Market Research Overview

    The Tobacco Products market encompasses vendors engaged in the production and packaging of various tobacco types, such as Burley and Nicotiana rustica. This market's size is determined by the consolidated revenue generated by these entities. It excludes tobacco processing equipment manufacturers and producers of hookah, packaged alcoholic and non-alcoholic beverages, including mineral waters. Market expansion will be fueled by the health benefits linked to the consumption of minimally processed tobacco products, which offer nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C.. 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/

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