Smoking Tobacco Segment to dominate Europe Raw Tobacco Leaves Market during 2020–2028

According to a new market research study on “Europe Raw Tobacco Leaves Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Leaf Type and Application,” is expected to reach US$ 7,734.39 million by 2028 from US$ 7,140.39 million in 2021. The market is estimated to grow at a CAGR of 1.1% from 2021 to 2028. The report provides trends prevailing in the Europe raw tobacco leaves market along with the drivers and restraints pertaining to the market growth. Growing strategic investments, initiation of distinguished premium products, and elevating consumption of tobacco products in developing countries are the major factor driving the growth of the Europe raw tobacco leaves market. However, burgeoning awareness about harmful effects of tobacco consumption hinder the growth of Europe raw tobacco leaves market.

In Europe, currently the UK, France and Russia are the hardest-hit countries by the coronavirus outbreak. It is estimated to suffer an economic hit due to a lack of revenue from various industries, as the country recorded the highest number of coronavirus cases followed by France, Spain, Italy, and Germany. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe. The outbreak of the novel coronavirus has negatively affected the growth of the market in the UK and rest of the region. There has been a decrease in sales of tobacco products due to slowdown in production due to the lockdown. Furthermore, the disruption of supply chain has also affected the supply of the product to the market.

The Europe raw tobacco leaves market is segmented on the basis of leaf type, application, and country. Based on leaf type, the market is categorized into Virginia, oriental, and others. In 2020, others segment held the largest share in the market and Virginia segment is expected to be the fastest growing segment during the forecast period. Based on application, the raw tobacco leaves market is segmented into smoking tobacco, moist and dry snuff, and others. In 2020, smoking tobacco segment held the largest share in the market and moist and dry snuff segment is expected to be the fastest growing segment during the forecast period. Similarly, based on country, the market is segmented into the Germany, France, the UK, Italy, Russia, and the rest of Europe. In 2020, the rest of Europe held the largest share in the market whereas Germany is expected to be the fastest growing country during the forecast period.

Universal Corporation; Sopariwala Exports; Alliance One International Inc.; Japan Tobacco International; British American Tobacco plc; Star Agritech International; and U.S. Tobacco Cooperative Inc. are among the leading companies in the Europe raw tobacco leaves market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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