Tobacco is an agricultural crop, leaves of which are dried and crushed to be used in varied ways. It can be smoked (cigarettes, cigars, pipe tobacco), chewed (chewing tobacco) or sniffed (wet and dry snuff). Tobacco products contain a stimulant called nicotine, which is highly addictive in nature. Tobacco market is broadly classified into cigarettes, cigars and cigarillos and others. Of these categories, most of the tobacco produced is processed into cigarettes.
Tobacco usage is known to be one of the leading causes of deaths worldwide. Smoking harms every part of the human body and can cause chronic lung diseases, cardiovascular diseases as well as cancer.
Tobacco consumption has been scaling upwards in emerging economies whereas it is dwindling in key markets like US, Australia and Japan. Factors like shifting consumer preference towards premium brands and rise in the number of women cigarette smokers are expected to fuel market demand. The market is witnessing increasing number of female smokers because of increasing social and financial independence. However, factors like stringent government regulations, anti-smoking campaigns, growing health awareness about smoking hazards and rise in taxes are expected to be the major restrains for tobacco market.
E-cigarettes are emerging as an alternative to conventional tobacco-filled cigarettes. They are gaining popularity in developed economies and are considered as a major deterrent for tobacco market.
Illicit tobacco trade, which involves counterfeit cigarettes, tax evasions and cross-border smuggling, is posing major challenge for the tobacco industry. Weak penalties, low border controls, low arrest rates and higher tobacco taxes are the major drivers for rising illicit tobacco trade. The governments need to impose workable tax regimes, strong border controls, stringent laws governing tobacco trade to stop illegal trading of tobacco products.
ASDReport.com provides a good collection of reports on tobacco market. The reports cover various topics and products related to tobacco market like, cigarette, cigar, e-cigarette, smokeless tobacco market, nicotine gum market and much more.