LONDON–(BUSINESS WIRE)–SpendEdge has been monitoring the global tobacco market and the market is poised to experience spend growth of nearly USD 190 billion between 2019-2024 at a CAGR of over 4% during the forecast period. Request Free Sample Pages.
Read the 90-page research report with TOC and LOE on “The Global Tobacco Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
This increasing spend in the tobacco market will be primarily attributed to the prominence of NGP products such as e-cigarettes, vapes, smokeless tobacco products, and other tobacco heating products. A majority of tobacco suppliers are undergoing consolidation which is expected to boost their financial prowess while cementing their positions in the markets that are exhibiting a slow demand for tobacco products. This is expected to give a boost to spend momentum in the tobacco market.
On account of housing more than 55% of the global smoking demography, APAC will have the largest share in spend growth in the global tobacco market. This spend growth will be supplemented by the unregulated tobacco markets across most of the APAC countries. The easy availability of tobacco products at cheaper rates will drive demand in the tobacco market in APAC. In North America, the prominence of NGP alternatives will contribute to the demand growth in the tobacco market.
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The Top Tobacco Suppliers Enlisted in this Report:
According to the forecasts, a substantial hike in suppliers’ OPEX will eschew their profit margins. This will compel them to increase the price of the finished product. However, strategic cost-control initiatives, price forecasting techniques, and adequate technology adoption will aid tobacco suppliers to sustain their profit margins. Such suppliers will have the liberty to offer service to buyers at competitive rates without affecting their profit margins. On this note, this report has listed the top tobacco suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market. Insights into some of the suppliers’ portfolio are given below:
British American Tobacco Plc– Known as one of the world’s largest manufacturers of tobacco products, British America Tobacco’s product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. It operates across Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).
Philips Morris International– The current owner and manufacturer of Marlboro, Philips Morris International has products that are sold in more than 180 countries. Its product portfolio comprises cigarettes, cigars, codentify, fine-cut rolling tobacco, snuff, rolling papers and tubes. Apart from Marlboro, Philips Morris International is home to five other multi-billion tobacco brands which are Dji Sam Soe 234, L&M, Longbeach, ST Dupont Paris, and U Mild.
China National Tobacco Corp– Known as one of the largest cigarette makers across the globe, China National Tobacco Corp produces one-third of the world’s cigarettes.
Buy 1 report and get the second for 50% off. Buy 2 reports and get the third for free. Download the free sample of this report on the tobacco market.
Some of the key topics covered in this report are:
- Tobacco market spend segmentation by region
- Tobacco supply market analysis
- Regional spend opportunity for tobacco suppliers
- Tobacco suppliers cost structure
- Total cost of ownership analysis in the tobacco market
- Tobacco pricing models analysis
- Category management objectives
- Cost saving opportunities in the tobacco market
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