Market Introduction
The raw tobacco leaves market in Asia Pacific is segmented into China, India, Japan, and the rest of APAC. There are regulations and government policies on manufacturing and sales of raw tobacco leaves in the region. For instance, the Association of Southeast Asian Nations (ASEAN) governments committed to a vision and a "Regional Action Plan on Healthy ASEAN Lifestyles" at the 6th Health Ministers Meeting in 2002. The action plan, which identifies tobacco control as one of the priority policies issues, calls on member nations to adopt a Programme of Work on promoting healthy ASEAN lifestyles. Tobacco control entails drafting and implementing a national action plan in accordance with the World Health Organization's Framework Convention on Tobacco Control (WHO-FCTC) on topics, such as smuggling, tax, product advertising, distribution, sale, and agricultural production.
The COVID-19 is anticipated to cause a significant economic loss in Asia Pacific. The consequence and impact are likely to worsen with the spread of the virus. The governments of various Asia Pacific countries imposed lockdown in early 2020 to restrict the spread of the virus, which, in turn, negatively impacted the raw tobacco leaves market revenue. The government have asked the non-essential goods manufacturers to delay their production which will adversely affect the global supply of raw tobacco leaves. In several countries, tobacco products are classified as non-essential items, which has led to a diminished supply of raw tobacco leaves and tobacco products across the globe. Also, COVID-19 has been declared a respiratory disease and creates breathing issues owing to which people are avoiding using tobacco products. Tobacco smokers are being advised to quit smoking to lower the risk of getting infected by the virus. So, it can be said that the industry growth rate in the future can be severely affected owing to the ongoing COVID-19 situation.
Market Overview and Dynamics
The raw tobacco leaves market in Asia Pacific is expected to grow from US$ 17,695.76 million in 2021 to US$ 19,721.66 million by 2028; it is estimated to grow at a CAGR of 1.6% from 2021 to 2028. Smallholder tobacco farmers often have low incomes, high expenditure on resources, high cost of land maintenance, and no reliable and sustainable food supply for their families because tobacco is grown in a specific season. Food insecurity and poverty are of concern in many of the world’s largest tobacco-growing countries, as increasing tobacco production diverts agricultural land that could otherwise be used to grow food. As a result, large transnational tobacco companies (TTC) are undertaking contract farming with the farmers. It typically involves legal agreements between smallholder farmers and large TTC, resulting in sharing of tobacco farming cost between both farmers and large TTC. Herein, companies support farmers through infrastructure, financial, and logistical benefits to ensure a continuous and sustained supply of raw material from the farmers. Through contract farming, not only the companies but also the farmers get benefitted, as it lessens the risk of production price and marketing cost. It also ensures higher production of better quality, financial support, and technical guidance to the farmers. Moreover, farmers' price risk is often reduced as many contracts specify prices in advance. In addition, companies with such investments are eliminating leaf merchants and intermediaries to centralize the overall industry. Such factors are expected to offer lucrative opportunities for various stakeholders and farmers in the raw tobacco leaves market during the forecast period.
Key Market Segments
In terms of leaf type, the Virginia segment accounted for the largest share of the Asia Pacific raw tobacco leaves market in 2020. Further, in term of application, the smoking tobacco held a larger market share of the raw tobacco leaves market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the raw tobacco leaves market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Universal Corporation; Sopariwala Exports; Alliance One International Inc.; Japan Tobacco International; British American Tobacco plc; Star Agritech International; BBM Bommidala Group; U.S. Tobacco Cooperative Inc.; and Leafcon International among others.
Reasons to buy report
Asia Pacific Raw Tobacco Leaves Market Segmentation
Asia Pacific Raw Tobacco Leaves Market – By Leaf Type
Asia Pacific Raw Tobacco Leaves Market – By Application
Asia Pacific Raw Tobacco Leaves Market – By Country
Asia Pacific Raw Tobacco Leaves Market – Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 17,695.76 Million |
| Market Size by 2028 | US$ 19,721.66 Million |
| CAGR (2021 - 2028) | 1.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Leaf Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Raw Tobacco Leaves Market is valued at US$ 17,695.76 Million in 2021, it is projected to reach US$ 19,721.66 Million by 2028.
As per our report Asia Pacific Raw Tobacco Leaves Market, the market size is valued at US$ 17,695.76 Million in 2021, projecting it to reach US$ 19,721.66 Million by 2028. This translates to a CAGR of approximately 1.6% during the forecast period.
The Asia Pacific Raw Tobacco Leaves Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Raw Tobacco Leaves Market report:
The Asia Pacific Raw Tobacco Leaves Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Raw Tobacco Leaves Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Raw Tobacco Leaves Market value chain can benefit from the information contained in a comprehensive market report.
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