Posted by praneeth on January 11th, 2019
Historically, the global tobacco industry growth was at a compound annual growth rate (CAGR) of more than 1.5%. The slight growth can be attributed to stringent regulations on tobacco products, increasing health consciousness among customers and increase in the taxes levied by many state and national governments. This market was mainly driven by rising disposable income in Asian and African countries.
According to TBRC’s global tobacco industry statistics, the global tobacco market is expected to grow to above USD 600 billion in 2021 at a CAGR of slightly above 2%. Despite rising health concerns and regulatory changes, the tobacco market is predicted to slightly grow in the forecast period; this can be attributed to the expected increase in demand for tobacco products due to rise in youth population, and increasing disposable income in Asian and African countries due to economic growth.
Find TBRC’s report on the tobacco products and cigarette manufacturing market: https://www.thebusinessresearchcompany.com/report/tobacco-products-global-market-report-2018
Cigarette manufacturers are capitalizing on marijuana legalization in some countries and are offering marijuana or cannabis cigarettes. These cigarettes contain marijuana, a drug used for medicinal and recreational purposes, and are popular among youth. Marijuana cigarettes are commercially available in the U.S., Switzerland and other countries in Europe. In 2016, Philip Morris introduced Marlboro M marijuana cigarettes. Toast, a Colorado-based company, is offering marijuana cigarettes in the U.S. Marijuana cigarettes under the brand Heimat are available in Coop supermarket chains across Switzerland.
Download a sample of the tobacco industry report: https://www.thebusinessresearchcompany.com/sample.aspx?id=345&type=smp
About The Business Research Company.
The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Like it? Share it!
About the Authorpraneeth
Joined: June 6th, 2018
Articles Posted: 537
More by this author