Albany, NY -- (SBWIRE) -- 02/07/2014 -- The tobacco is utilized in manufacturing of cigar, cigarettes, smoking and chewing tobacco. It is also used in manufacturing ‘snuff’ and ‘bidis’. The consumption of tobacco products augmented globally during the economic slowdown due to the foreclosures, downfall in the stock market and stress of layoffs that drove many people to seek relief through smoking. However, the economic recovery eased the stress and lessened the smoking undertaken for stress relief. Nonetheless, as per WHO (World Health Organization) the growth in smoking rates particularly in the emerging nations have exceeded the smoking rate declines in developed nations that can be credited to health conscious lifestyles, growing excise taxes and regulations. These factors are expected to drive the global tobacco products market. The growing awareness among the health conscious population and anti-tobacco drives held worldwide coupled with government supportive schemes are hindering the market growth
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The tobacco products market has a high level of capital intensity as the manufacturers utilize machinery to automate the processes. The introduction of machines not only automates the process but also improves the production efficiency. Growing automation and mechanization has reduced the dependence on labor. However, the market is labor intensive in the Asia Pacific countries such as Indonesia, China and India.
Some of the key manufacturers of this industry includes, BAT (British American Tobacco Plc) and Imperial Tobacco based in the UK while Philip Morris International based in the U.S. Companies that dominate the domestic markets include Vietnam's National Tobacco Corporation, Bulgaria's Bulgartabak, Thailand's Tobacco Monopoly, Egypt's Eastern Tobacco, and Taiwan's Tobacco & Liquor Corp. Altria, Lorillard and Reynolds American dominate the U.S. market.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players.
Read More Reports on Consumer Goods Markets: http://www.transparencymarketresearch.com/consumer-goods-market-reports-7.html
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