Global Cigarette Market Report 2021: Market to Reach a Value of $836.5 Billion by 2026 – Leading Players are Phillip Morris Intl, British American Tobacco, Japan Tobacco, Imperial Brands – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Cigarette Market Report and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

Global cigarette market attained a value of approximately USD 669.4 billion in 2020. Aided by the rising tobacco consumption, the market is projected to further grow at a CAGR of 3.3% between 2021 and 2026 to reach a value of about USD 836.5 billion by 2026.

A cigarette is a tobacco product that is rolled into a thin paper for smoking. It consists of other ingredients to add flavour. Cigarettes are extensively consumed owing to peer pressure, stress relief, and pleasure. As cigarettes contain various addictive ingredients such as nicotine, their consumption is significantly increasing as they prevent restlessness, irritability, and anxiousness among smokers.

Moreover, the prevalence of smoking as a way to reduce stress among the blue-collared professionals is increasing the demand for cigarettes, therefore propelling the market growth.

The growth of the cigarette industry can be attributed to the extensive consumption of tobacco products. Innovative marketing strategies adopted by the leading companies to target women by providing them various discount coupons as well as the development of small, sleek, and designer cigarette packaging to appeal to women are expected to invigorate the market growth.

Although the market growth can be hindered by declining smoking rates in developed countries as the popularity of e-cigarettes soars, the market is anticipated to witness a healthy growth due to the rising prevalence of smoking among youth.

The extensive marketing by leading companies in developing countries through advertisements to increase the appeal of cigarettes is positively impacting the industry growth. The prevalence of tobacco products among the poverty-ridden populations in countries such as Bangladesh, Indonesia, Nigeria, Uganda, and Egypt, among others are providing impetus to the market growth of cigarettes.

Market Segmentation

Market Breakup by Type

• Light
• Medium
• Others

Market Segmentation by Distribution Channel

• Tobacco Shops
• Supermarket and Hypermarkets
• Convenience Stores
• Online Stores
• Others

Market Breakup by Region

• North America
• Asia Pacific
• Europe
• Middle East and Africa
• Latin America

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the key players in the industry.

Some of the major players in the market explored in the report are:

• Phillip Morris International
• British American Tobacco
• Japan Tobacco Inc
• Imperial Brands PLC

For more information about this report visit https://www.researchandmarkets.com/r/v2g7en

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