The demand for tobacco products is shifting significantly from developed countries to developing countries. The rising consumption of tobacco in developing countries is attributed to an increase in per capita income, less stringent government regulations, and the rise in influence of western culture. Tobacco companies are increasingly targeting developing markets due to their strong growth potential. Consumers have easy access to a wide range of products. Leading tobacco companies are expanding their operations across developing countries, positively boosting market growth across the region. The presence of leading tobacco companies in the region, coupled with the rise in consumer access to tobacco products, is driving the North America tobacco products market. The Europe tobacco products market is expected to grow at a good CAGR during the forecast period.
Europe Tobacco Product Market Segmentation
The Europe tobacco product market is segmented into product type, distribution channel, and country. Based on product type, the market is segmented into cigarettes, cigars & cigarillos, roll-your-own, and others. The cigarettes segment accounted for a major share in 2020. Based on distribution channel, the market is categorized into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment dominated the market in 2020. Based on country, the Europe tobacco product market is segmented into Germany, Italy, France, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe tobacco product market in 2020.
Altria Group Inc, British American Tobacco, Japan Tobacco International, Imperial Brands, Vector Group Ltd, Philip Moris Product S.A, and Pyxus International Inc are among the leading companies in the Europe tobacco product market.