According to the World Health Organization (WHO), Europe has the highest rate of tobacco use, accounting for 29% of global tobacco consumption. The demand for cigarettes is increasing across different age groups, which is the main factor driving the European cigarettes market. Even after government efforts to control tobacco consumption have been implemented, the trend towards tobacco consumption is increasing among adults and young people. According to a study conducted by the National Bureau of Economic Research, tobacco consumption is related to income level. The study found that people at the lowest or highest income levels smoked less compared to middle-class populations in European countries. However, the famous ``Tobacco Smoking is Bad for Your Health'' campaign was a phenomenal success and reduced cigarette consumption in the region. The market value of cigarettes is increasing due to the growing consumer trend of consuming premium cigarettes. This, coupled with rising cigarette prices and changes in taxes on cigarettes, is hampering the growth of the European cigarette market. Analysts in the report found that the market was valued at USD 218.61 billion in 2018 and is projected to reach USD 363.3 billion by 2026. Further, it was found that the European cigarette market is expected to rise at a CAGR of 5.76x. % during the forecast period.

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

Fortune Business Insights' new study, 'Tobacco: European Market Analysis, Insights and Forecasts, 2019-2026' highlights some of the trends in the European tobacco market and provides a detailed analysis over the forecast period. Masu. This report provides a detailed assessment of the driving forces enabling market growth. The report provides a detailed analysis of the market size of various segments. In addition to segment information, readers can get information about the drivers, opportunities, constraints, and trends of the European Tobacco Market. This report provides information on the competitive environment by providing recent industry developments and several insights over the forecast period. Primary and secondary sources are used to collect and analyze information.

According to the report, premium cigarettes account for 46.12% of the total European cigarette market share. Modernization and increasing purchasing power of consumers are factors contributing to the growth of this sector. We know that demand for regular-sized cigarettes is higher in Europe than for economy or ultra-low-priced cigarettes.

Germany gains 13.04% share due to expanding customer base
Tobacco consumption in Germany is higher than in other European countries. This growth is due to the growing trend of eating out, increasing modernization and a preference for evening lounges. These factors are responsible for building a strong customer base of German cigarette consumers. Young people are more likely to start smoking, so people from the age of 15 to 23 consume the most cigarettes. Manufacturers are now planning to introduce nicotine-free cigarettes to attract women and young people in the country. This increases the demand for new cigarettes and expands the scope of the European cigarette market.

Philip Morris International completes complete acquisition of Costa Rican affiliate

According to the report, the European Tobacco Market focuses on some of the major market shareholders who are driving the market significantly. These companies are discussed below.

Manufacturers continue to focus on new product launches and acquisitions to increase their customer base and expand their product portfolios. These manufacturers produce new cigarettes to suit different age groups and gender preferences. Some of the recent developments by companies are listed below.

March 2018: Philip Morris International announced the acquisition of the remaining 49% interest in Mendiol SA and Tabacalera Costarricense. The US$95 million acquisition gives the company 100% ownership of its Costa Rican affiliate.

October 2018: Philip Morris International launches two heated tobacco products: IQOS 3 and IQOS 3 Multi. These products were officially launched in Switzerland, Russia, the UK and Colombia in November 2018. These products only heat the tobacco instead of burning it, and are one of the best alternatives to cigarettes.