Global Tobacco: Key Findings Part 1 - Tobacco Overview and Cigarettes - New Study Released
Damaged by economic uncertainty and growth in the illicit trade in key markets, the tobacco industry suffered a poor year in 2012, with volume growth in cigarettes only maintained by the huge Chinese market, while value growth was down significantly on previous years. Several markets saw value decline in 2012 - a first indication that industry pricing power may be weakening and will prove unable to continue to generate cash in the face of mass volume declines.
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