Increased consumer preference for e-cigarettes over traditional cigarettes, coupled with increasing spending on premium tobacco products is expected to stimulate market trends
Market Size – USD 935.77 Billion in 2020, Market Growth – CAGR of 2.2%, Market Trends- A significant rise in the number of smokers globally.
According to a recent analysis by Reports and Data, the global Tobacco Market size was valued at USD 932.11 Billion in 2020 and is estimated to observe a CAGR of 2.2% through 2028. Introduction of tobacco products with added flavors like menthol, clove and candy coupled with increased consumer preference for e-cigarettes over traditional cigarettes is expected to drive market growth over the forecast period.
Tobacco contains a colourless volatile alkaloid called nicotine, which on consumption in any form constricts peripheral blood vessels, increases, blood pressure, stimulates brain functions, and raises heart rate. The addictive nature of alkaloids makes it hard for smokers to quit cigarettes. Extensive usage of dried tobacco for smoking in cigarettes, cigars, shisha, pipes and as snuff, dipping tobacco, chewing tobacco, and snus is expected to bolster tobacco market size through 2028. However, growing popularity of nicotine replacement therapies with patches, lozenges, gums, and others product may negatively impact the industry growth.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3829
Further key findings in the report
Read more: https://www.reportsanddata.com/report-detail/tobacco-market
This report forecasts revenue growth at a global, regional, & country level and provides an analysis of market trends for segments and sub-segments over 2018-2028. For the purpose of this report, Reports and Data has segmented the global tobacco market on the basis of product and region:
Product Outlook (Revenue, USD Billion, 2018 – 2028)
Regional Outlook (Revenue, USD Billion, 2018 – 2028)
Request customization of the report @ https://www.reportsanddata.com/request-customization-form/3829
Thank you for reading our report. To know more about customization options, please get in touch with us. Our team will ensure the report is tailored to suit your requirements.
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Media ContactCompany Name: Reports and DataContact Person: John WatsonEmail: Send EmailPhone: +1-212-710-1370Address:40 Wall St. 28th floor City: New York CityState: NY 10005Country: United StatesWebsite: https://www.reportsanddata.com/press-release/global-tobacco-market