Raw Tobacco Leaves Market Expected to Reach Tremendous Growth by 2028

The raw tobacco leaves market was valued at US$ 31,045.19 million in 2021 and is projected to reach US$ 34,436.28 million by 2028; it is expected to grow at a CAGR of 1.5% from 2021 to 2028.

Tobacco products are made by curing raw tobacco leaves. Tobacco leaves contain nicotine and a volatile alkaloid that stimulate brain function. Dried raw tobacco leaves are commonly utilized in various products such as cigarettes, shisha, pipes, and cigars. To make tobacco leaves consumable, tobacco product manufacturers add various flavorings and chemicals to them.

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Top Key Players:- Universal Corporation, Sopariwala Exports, Alliance One International Inc., Leaf Only, British American Tobacco p.l.c., Leafcon International, BBM Bommidala Group, Star Agritech International, JT Group, and U.S. Tobacco Cooperative Inc.

The demand for tobacco products is increasing rapidly in developing regions such as Asia Pacific and Middle East and Africa. The growth in demand in Asia Pacific is attributed to the rising population, elevating income levels of the consumers, and lenient government regulations. The market in emerging regions such as the Asia Pacific and Middle East & Africa is expected to witness substantial growth during the forecast period.

Asia-Pacific is one of the significant producers and consumers of tobacco globally, led by countries such as India and China. Four of the largest tobacco companies across the world are Japan Tobacco Inc., China National Tobacco Corporation, ITC Limited, and PT Gudang Garam Tbk, and they are based in Asia Pacific. Moreover, China is the largest market in the region, with a substantial percentage of its population consuming tobacco products. With lax in regulations in countries, such as the ban on the consumption of tobacco products in public places in India, and the increasing availability of tobacco products in modern retail outlets in the region are actively fueling the growth of the raw tobacco leaves market in Asia Pacific.

Raw Tobacco Leaves Market, by Leaf Type

• Virginia
• Oriental
• Others

Raw Tobacco Leaves Market, by Application

• Smoking Tobacco
• Moist
• Others

Impact of COVID-19 Pandemic on Raw Tobacco Leaves Market

The COVID-19 outbreak has badly affected several businesses across the world. The pandemic has had the most influence on the production and logistics industries. The outbreak forced the governments of numerous countries to impose lockdown to decrease the spread of the virus. Thus, several companies are undergoing downtime and some companies are working remotely, which is leading to low productivity and income. The COVID-19 pandemic has created a significant societal and economic disruption and resulted in closures of stores, factories, and offices. The crisis also put restrictions on manufacturing, distribution, and travel.

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This release was published on openPR.