According to our latest market study titled "Tobacco Products Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Cigarettes, Cigars & Cigarillos, Roll-Your-Own, and Others) and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)," The tobacco products market is projected to reach US$ 907,665.43 million by 2028 from US$ 782,022.19 million in 2021. It is expected to grow at a CAGR of 2.2% from 2021 to 2028.

Tobacco leaves of different varieties, such as Virginia and Burley, are blended to manufacture products such as cigarettes, cigars & cigarillos, and roll-your-own tobacco. The consumption of tobacco and related products increased worldwide during the time of economic slowdown owing to the fall in the stock markets and foreclosures, and the stress related to layoffs, which propelled many people to seek refuge through smoking. Tobacco is one of the most common addictive substances used in the world. It also contributes to the majority of the tax revenues for various nations in developed and developing economies.

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Key players operating in the tobacco products market include Altria Group, Inc.; British American Tobacco plc; Swedish Match AB; ITC Ltd.; Japan Tobacco International; Imperial Brands; Philip Morris Products S.A.; Vector Group LTD.; Pyxus International, Inc.; and China Tobacco International (HK) Company Limited.

Based on product type, the tobacco products market is segmented into cigarettes, cigars & cigarillos, roll-your-own, and others. In terms of distribution channel, the tobacco products market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. Based on geography, the tobacco products market is primarily segmented into North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

The COVID-19 pandemic brought unprecedented challenges for many sectors. Lockdowns, border restrictions, travel bans, manufacturing discontinuation, and other safety measures taken under the guidelines by the WHO and national health authorities hindered the progress of the manufacturing companies sector. Moreover, supply chains were completely disrupted due to nationwide lockdown and border restrictions. The COVID-19 pandemic had a short-term impact on the tobacco industry. In countries such as South Africa and India, tobacco products were banned by the governments during the lockdown as tobacco is a non-essential commodity. There is mounting evidence that smoking is linked to adverse outcomes and increased severity of COVID-19. Compared to non-smokers, smokers have a greater chance of developing the COVID-19 infection. Furthermore, many companies halted their production as employees started testing positive for the virus.

The demand for tobacco products is shifting significantly from developed countries to developing countries in Asia Pacific and the Middle East & Africa. According to the World Health Organization (WHO), as of 2020, more than 80% of the world's total tobacco smokers (1.3 billion) live in low and middle-income nations. The rising consumption of tobacco in developing countries is attributed to increasing per capita income, less stringent government regulations, and the growing influence of western culture.

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