Europe Cigarettes Market to Hit USD 363.30 Billion by 2026 | Highest Demand from Germany, Increasing Trend of Dining Out to Drive the Market, Fortune Business Insights™

Pune, India, Oct. 15, 2021 (GLOBE NEWSWIRE) — As per the World Health Organization (WHO), Europe witnesses the highest prevalence of tobacco use, which is 29% of worldwide tobacco consumption. The demand for cigarettes is increasing in different age groups, which is the major factor driving the Europe cigarette market. The cigarette consumption trend is rising among the adult and young population, even after the implementation of government initiatives to combat tobacco consumption. A survey conducted by the National Bureau of Economic Research stated that tobacco consumption is related to income levels.

The study found that people with either the lowest or highest income levels smoke less compared to the middle-class population in European countries. However, the well-known campaign “Cigarette smoking is bad for health” has worked wonders and cigarette consumption has declined in the region. On the market value of cigarettes is increasing owing to the rising consumer trend towards consuming premium cigarettes. This, coupled with the rise in cigarette prices and change in taxes on cigarettes, is siding the European cigarette market growth.

Analysts in the report found that the market was valued at US$ 218.61 Bn in 2018 and is anticipated to reach US$ 363.30 Bn by 2026. Furthermore, it was found that the market for cigarettes in Europe is expected to rise at a CAGR of 5.76% during the forecast period.

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The report gives information on the competitive landscape by offering insights into some of the recent industry developments and over the forecast period. Primary and secondary sources have been used to collect and analyze the information.

As per the report, premium cigarettes account for 46.12% of the overall Europe cigarette market share. Increasing modernization and purchasing power of consumers are factors attributing to the growth of this segment. As per, the regular size cigarettes are in high demand in Europe than the economy or ultra-low cigarettes. 

Germany to Hold 13.04% Share Owing to the Growing Customer Base

Tobacco consumption is higher in Germany than in other European countries. The growth is attributable to the rising trend of dining out, increasing modernization, and preference towards night lounges. These factors are responsible for building a strong customer base of cigarette consumers in Germany.

People aged between 15 and 23 years consume the highest number of cigarettes as the young population is more likely to start smoking.  Now manufacturers are planning to introduce nicotine-free cigarettes to attract women and the young population in the country. This will fuel demand for new cigarettes, thereby widening the European cigarette market scope.

Philip Morris International Completes the 100% Acquisition of Costa Rican Affiliates

As per the report, Europe cigarette market highlights some of the major market shareholders significantly driving the market. These companies are mentioned below:

Manufactures continue to focus on new product launches and acquisitions to increase their customer base and broaden product portfolio. These manufacturers produce new cigarettes as per age group and gender preferences.

Major players profiled are: Philip Morris International, Japan Tobacco International AG, British American Tobacco p.l.c., and Imperial Brands PLC.

Some of the recent development made by companies are mentioned below:

March 2018: Philip Morris International announced the acquisition of the remaining 49% interest in Mendiol S.A. and Tabacalera Costarricense. With this acquisition of US$ 95 million, the company now owns 100% of these Costa Rican affiliates.

October 2018: Philip Morris International launched two heated tobacco products called IQOS 3 and IQOS 3 Multi. These products were officially launched in Switzerland, Russia, UK, and Columbia in November 2018. These products just heat the tobacco instead of burning it and is one of the best alternatives for cigarette smoking.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/industry-reports/europe-cigarette-market-101375

Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Overview on the Related Markets
    • Per-capita Cigarette Consumption – By Country, 2018
    • Analysis of Counterfeit and Contraband as a Proportion of Total Europe Cigarette Market, 2018
  • Pricing Analysis – Key Brands
  • Recent Industry Developments – Mergers & Acquisitions and New Product Launches
• Europe Cigarette Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Country
    • U.K.
    • France
    • Germany
    • Benelux
    • Italy
    • Russia
    • Poland
    • Romania
    • Czech Republic
    • Rest of Europe
  • Market Analysis, Insights and Forecast – By Gender
  • Market Analysis, Insights and Forecast – By Age Group
    • 15-24 years
    • 25-44 years
    • 45-64 years
    • 65 years and above
  • Market Analysis, Insights and Forecast – By Pricing
    • Premium
    • Economy
    • Mid/Ultra-low
  • Market Analysis, Insights and Forecast – By Size
    • King Size
    • Regular Size
    • Slims/Super Slims

TOC Continued…!

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