China is Largest Cigarettes Consumer in the World
Euromonitor International, the Global market research company, released this week its latest report on the tobacco industry worldwide. Tobacco industry is world’s most valuable rapidly moving consumer goods industry.
Totalling globally US$800 billion the tobacco industry faced in 2013 volume declines on 7 of 10 world markets.
China remains the biggest and most important tobacco market. It is one of 3 top 10 markets where cigarette volumes have not dropped, with $205 billion sales in 2013. Other two markets among the top 10 are Vietnam and Indonesia, which managed to equalize the volume declines in all other top 10 markets, adding a shared 60 billion additional sticks in 2013.
Zora Milenkovic, Head of Global Tobacco Research at Euromonitor International, considers that these days tobacco industry faces serious problems due to numerous tobacco control measures.
2013 data provided by Euromonitor demonstrates volume declines of around 4% worldwide, except China. Besides this, other two largest markets (USA and Russia) lose a shared total equivalent to the entire annual sales of Bangladesh in the next 5 years.
Roll-your-own tobacco will face the highest growth because with higher taxes smokers turn to other kinds of tobacco products. Also smokers who cannot afford themselves expensive cigarettes order cigarettes online at http://www.verycheapcigarettes.biz/
E-cigarettes are the one area that largest tobacco companies (Lorillard, Altria, etc) are looking to expand. It is expected that the global e-cigarettes market to be worth US$7 billion by the end of 2014.
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