Europe Cigarette Market 2019 Surpass US$ 363.30 Billion by 2026 – Fortune Business Insights

As per the World Health Organization (WHO), Europe witnesses the highest prevalence of tobacco use, which is 29% of the 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 adult and young population, even after the implementation of government initiatives to combat tobacco consumption.

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Some of the Main Key Players Covered in the Report
• Philip Morris Products S.A.
• Japan Tobacco International AG
• British American Tobacco p.l.c.
• Imperial Brands PLC
• Bulgartabac Holding
• Korea Tobacco & Ginseng Corporation
• Heintz Van Landewyck
• Karelia Tobacco Company Inc.
• European Tobacco
• Continental Tobacco Group

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 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 values of cigarettes is increasing owing to the rising consumer trend towards consuming premium cigarettes.

Fortune Business Insights in a new study, titled “CIGARETTE: EUROPE MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026” entails some of the Europe cigarette market trends and provides an in-depth analysis in the forecast period. The report offers a detailed evaluation of the drivers enabling growth in the market. The report gives a detailed analysis of the market size of different segments. In addition to the segment information, the reader can gain information on drivers, opportunities, restraints, and trends in the Europe cigarette market. 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.

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Key Segments
By Gender
• Male
• Female
By Age Group
• 15-24 years
• 25-44 years
• 45-64 years
• 65 years and above
By Pricing
• Premium
• Economy
• Mid/Ultra Low
By Size
• King
• Regular
• Slim/Ultra Slim
By Geography
• Europe (U.K., France, Germany, BENELUX, Italy, Russia, Poland, Romania, Czech Republic, and Rest of Europe)

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As per the report, premium cigarettes account for 46.12% in 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 economy or ultra-low cigarettes.

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

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.

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.

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