Raw Tobacco Leaves Market Forecast, Probable Key Development Trends, and Outlook Report
Market Overview
The Global Raw Tobacco Leaves Market Forecast
is expected to register a CAGR of 1.48% to reach USD 20789 Million by
2026.
Market Dynamics
One of the key factors driving the growth of
the demand for raw tobacco leaves is rising cigarette use in low- and
medium-income countries. The increasing illegal tobacco trade, however, is
likely to hamper demand development. Because of constant progress in tobacco
packaging and government policies to sell raw tobacco leaves, the market is projected
to become lucrative for successful vendors. Because of the regulatory
constraints placed on the tobacco industry, market players are facing
difficulties in their expansion. The worldwide demand for raw tobacco leaves is
heavily affected by the practices that exist in the tobacco industry's entire
supply chain.
The COVID-19 epidemic has disrupted the market
for tobacco products. In many nations, the designation of tobacco as a
non-essential drug has contributed to a dwindling availability of tobacco products.
Along with the market space filled by them, retail prices of tobacco products
have decreased considerably. Owing to its status as a non-essential commodity,
the availability of tobacco and tobacco products is now suffering a detrimental
effect. In addition, tobacco smokers are urged to stop smoking and to avoid
being vulnerable to dangerous viral diseases. Studies concerning the higher
chances of developing COVID-19 among tobacco smokers create a misleading
impression among buyers of raw tobacco products and delay
their sales.
Regional Analysis
In 2019, Asia-Pacific accounted for the
greatest market share of 53.25 percent of the overall market for raw tobacco
leaves. The most influential country-level markets in the region include China,
Japan and Indonesia. In the country and internationally as well, China is a
significant producer and buyer of raw tobacco leaves. While cigarette
manufacturing and demand are decreasing, China is now concentrating on the
promotion and production of e-cigarettes.
For manufacturers of raw tobacco leaves, the
rest of the world is an enticing area. Africa is an important tobacco leaf
manufacturer and caters to the worldwide market for raw tobacco leaves. The
main producers of tobacco products in South Africa are British American
Tobacco, Japan Tobacco International, and Philip Morris International.
A large share of the Raw Tobacco Leaves Market
Forecast in 2019 was also accounted for by Europe. The growth of the regional
market is fueled by strong demand for smokeless tobacco products and ready
accessibility of over-the-counter products in tobacco shops.
Segmental Analysis
Global Raw
Tobacco Leaves Market Forecast has been
segmented on the basis of Leaf Type, Buying Module Type, Application, and
Region.
By leaf type, the market has been divided into
Virginia, oriental, burley, and blends. In 2019, the Virginia segment accounted
for the major share and is forecast to grow at a considerable CAGR and cross
USD 14.10 billion by the end of 2026. Virginia tobacco leaves are expected to
accelerate the growth of the Virginia leaf market in cigarette production and
are expected to record the fastest growing segment during the forecast period.
Based on buying module type, the market has
been segmented into farmers, auction, and leaf merchants. Due to the numerous
financial and non-financial aids offered by the leaf merchants to the growers,
the leaf merchants segment accounted for the largest market share in 2019.
However, it is expected that the growth of the auction segment will be driven
by the growing popularity of e-auction systems over the conventional manual
auction system to provide full clarity in the auction procedures and to remove
the errors found in the manual auction system.
The industry has been segmented into smoking
tobacco, chewing tobacco, moist & dry snuff, and dissolvable products depending
on the use. The highest market share came in the smoking tobacco group in 2019,
with cigarettes, water pipes, and cigars leading to the bulk of sales of raw
tobacco leaves. However, the category of dissolvable goods is expected to
demonstrate the highest growth rate during the analysis period.
Competitive Landscape
The prominent players operating in the global Raw
Tobacco Leaves Market include Star Tobacco International (Turkey), Atmiya
International (India), Leafcon International (India), Leaf Only (US), Whole
Leaf Tobacco LLC (US), Sopariwala Exports (India), NYC Tobacco Leaf LLC (US),
Leaf 2 Smoke (Canada), Tobacco and Tubes (India), Capital Tobacco Ltd
(Bulgaria), Universal Corporation (US), U.S. Tobacco Cooperative Inc. (US),
Alliance One International, Inc. (US), and Associated Tobacco Company Ltd.
(India).
Players competing in the global market for raw
tobacco leaves are focused on investing in research and development, and
competitive growth strategies such as alliances, collaborations, partnerships,
and extensions are being introduced to improve their market share and capture a
broad customer base.
NOTE: Our Team of Researchers are Studying Covid19 and
its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
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New York 10013,
United States of America
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