Global Smoking Product Market Size By Product Type (Tobacco Based Non-Tobacco Based), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Global Smoking Product Market Size By Product Type (Tobacco Based Non-Tobacco Based), By Geographic Scope And Forecast

Smoking Product Market Size And Forecast

Smoking Product Market size was valued at USD 942.65 Billion in 2022 and is projected to reach USD 1,004.95 Billion by 2030, growing at a CAGR of 1.36% from 2024 to 2030.

The ‘Global Smoking Product Market’ is witnessing significant growth owing to various driving factors such as growing customer preference for herbal smoking products, growing adoption of e-cigarettes, and growing health awareness and issues caused due to traditional smoking. The Global Smoking Product Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Smoking Product Market Definition

Smoking products refer to various items and substances used for smoking tobacco, herbs, or other plant materials. These products are designed to facilitate the process of inhaling smoke produced by burning the substance. Both Tobacco Based and Non-Tobacco Based products are considered under the scope of the study. Tobacco-based smoking product categories include Cigarettes, Cigars & Cigarillos, Smokeless Tobacco, Shisha, Kreteks, Bidis, Heat-not-Burn Devices, etc. Non-tobacco-based smoking product categories include E-Cigarettes, Vapes, and Herbal Products.

The tobacco plant leaves are harvested and dried before being fermented and used in tobacco products. Nicotine is a component of tobacco. The most popular tobacco consumption is cigarettes, smokeless, water pipes, cigars, cigarillos, bidis, etc. Non-tobacco smoking goods are substitutes for conventional tobacco-based items that aim to simulate smoking without igniting or emitting tobacco smoke. These goods are intended to provide less harmful options or alternatives to typical cigarettes for those trying to stop smoking. The belief that they could be less dangerous or offer a method to stop smoking has contributed to the popularity of non-tobacco smoking products as alternatives to conventional tobacco products.

The Smoking Product market is segmented into one segment such as by Product Type. The smoking Product Market by Product type is divided into Tobacco Based and Non-Tobacco Based. The Tobacco based segment is further classified into Cigarettes, Cigars & Cigarillos, Shisha, Smokeless Tobacco, and Others (Kreteks, Bidis, etc. The Non-Tobacco based segment is further classified into E-Cigarettes, Vapes, Herbal Products, and Others.

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Global Smoking Product Market Overview

The ‘Global Smoking Product Market’ is witnessing significant growth owing to various driving factors such as growing customer preference for herbal smoking products, growing adoption of e-cigarettes, and growing health awareness and issues caused due to traditional smoking. E-cigarettes, also known as electronic cigarettes or vaping devices, have seen a significant increase in demand in recent years. Many people see electronic cigarettes as a potentially safer alternative to regular tobacco smoking. E-cigarettes heat and vaporize a liquid (e-liquid) containing nicotine and other chemicals, avoiding the combustion and toxic consequences of tobacco use. Some smokers use e-cigarettes as a harm reduction approach or as a tool to help them quit smoking.

The world population is becoming more aware of herbal smoking products and their benefits over traditional smoking products. Thus, the demand for herbal smoking products is growing due to their popularity and benefits including health and wellness consciousness. Many smokers are looking for alternatives to traditional tobacco products since there is a rising awareness and focus on personal health and fitness. Due to the lack of tobacco, nicotine, and other toxic ingredients, herbal smoking products are frequently considered a healthier alternative. Consumers/smokers are becoming more interested in natural and organic smoking alternatives that are compatible with their health-conscious lives.

Moreover, Innovation in e-cigarettes and the different herbal smoking blends are creating new opportunities for the Global Smoking Products Market. Mullein, Red Raspberry Leaf, Marshmallow Root, Mugwort, Damiana, Horehound, Skullcap, White Sage, Catnip, Passionflower, Uva Ursi, Indian Blue Water Lily, Indian White-Water Lily, Swarnadhanya, Chamomile, Licorice, Clove, Peppermint, Spearmint, Rose, Lavender, Anise, Sage, and Monarda, amongst others, are the most common herbal materials used in herbal smoking.

Moreover, many companies are offering different herbal blends for smoking. Some of the popular and unique herbal blends include Nourishing Tea, Red Velvet, Herbal Mojito, a Holy combination of Intellect Tree, Ginger, Holy Basil, Clove, Mango Ginger, Licorice, Cabbage Rose, Sweet Flag, Cinnamon, Valerian, Vetiver, Pepper Mint, Indian Lotus, and Guggul. Some herbal establishments will already have smoking mixtures available for customers to use.

However, the high cost of shisha smoking sessions is a major restraining factor for the market. Furthermore, tax uncertainties and restrictions surrounding shisha smoking and e-cigarettes can also strangle the growth of the market. Many nations have tobacco control policies in place that apply to shisha smoking. These laws frequently seek to limit the use of tobacco products, including shisha, in public places, workplaces, and other designated locations. Such limitations may restrict the number and accessibility of shisha-smoking establishments.

Global Smoking Product Market Segmentation Analysis

The Global Smoking Product Market is segmented based on Product Type and Geography.

Smoking Product Market, By Product Type

  • Tobacco Based
  • Non-Tobacco Based

To Get a Summarized Market Report By Product Type-

The Global Smoking Product Market is experiencing a scaled level of attractiveness in the Tobacco Based segment. The Tobacco Based segment has a prominent presence and holds the major share of the global market. Tobacco Based segment is anticipated to account for a significant market share of 87.05% by 2028. The segment is projected to gain an incremental market value of USD 12.82 Billion and is projected to grow at a CAGR of 0.37% between 2024 and 2028.

The demand for Tobacco Based products is high across the world. The tobacco plant leaves are harvested and dried before being fermented and used in tobacco products. Nicotine is a component of tobacco. The most popular tobacco consumption is cigarettes, smokeless, water pipes, cigars, cigarillos, bidis, etc. Cigarettes are tiny, tightly wrapped cylindrical rolls of finely chopped tobacco leaves. They are a type of tobacco product that is frequently used for smoking. A combination of tobacco from several types, either flavored or unflavored, is often found in cigarettes. Tobacco is treated with many chemicals and additives to improve the flavor, burn rate, and overall smoking experience. However, the Non-Tobacco Based segment holds the second-largest share with a CAGR of 9.64% by 2028.

Smoking Product Market, By Geography

  • Asia-Pacific
  • Europe
  • North America
  • Latin America
  • Middle East & Africa

To Get a Summarized Market Report By Geography- 

The Global Smoking Product Market is experiencing a scaled level of attractiveness in the Asia Pacific region. The Asia Pacific region has a prominent presence and holds a major share of the global market. Asia Pacific is anticipated to account for a significant market share of 36.58% by 2028.

The Asia Pacific region has a significant population, and some countries within the region have high smoking prevalence rates. Asia-Pacific, driven by countries like China and India, is one of the world’s top producers and consumers of tobacco. The size and popularity of the smoking products industry in the area are largely due to this large consumer base. Some Asian Pacific countries are regarded as emerging markets for smoking products. The sector for smoking-related products has expanded in these markets as a result of rapid urbanization, increasing disposable incomes, and changing lifestyles. Due to their large populations, countries like China and India have experienced significant growth in their marketplaces for smoking products. Cigarettes are the dominant category within the smoking product industry in China. China is the largest consumer and producer of cigarettes globally. The market is primarily served by domestic tobacco companies, such as China National Tobacco Corporation, which is a state-owned enterprise. Smoking has a long history and cultural significance in China. It is often associated with social interactions, business meetings, and gift-giving. Smoking is also prevalent among certain demographic groups, such as older generations and men.

Key Players

The major players in the market are China National Tobacco Corporation, British American Tobacco Plc, Imperial Brands Plc, Scandinavian Tobacco Group A/S, Swedish Match AB, Altria Group, Inc., KT&G Corp., Japan Tobacco Inc., ITC Limited, and others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with Product benchmarking and SWOT analysis.

Key Developments

  • In May 2023, British American Tobacco Fiji unveiled its newly renovated Primary Manufacturing Department – Project Sovereign Upgrade – for USD 4.5 million over the previous few years. The improvements include mechanical enhancements to minimize inefficiencies and enable the Fiji market to employ local leaves in some export markets.
  • In May 2023, British American Tobacco Bangladesh Company Limited announced a USD 5.60 million investment in equipment and a centralized uninterrupted power supply device. The international corporation announced the investment decision in a Dhaka Stock Exchange filing.
  • In October 2022, Japan Tobacco announced a joint venture (JV) with Altria Group (Altria), through its subsidiary PM USA, to market and commercialize heated tobacco sticks (HTS) products in the United States using Ploom branded devices and Marlboro branded consumables. In addition, the two organizations inked a long-term, non-binding worldwide memorandum of understanding (MOU) to investigate commercial prospects for a wide variety of potentially reduced-risk products (RRP).

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the segment that is majorly leading in the Global Smoking Product Market. We cover the major impacting factors that are responsible for driving the industry growth in the given geography.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Smok

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