The tobacco industry comprises establishments carrying out stemming and re drying of tobacco and companies manufacturing cigarettes and other tobacco products. E-cigarettes are not included in this industry.
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The market is valued at $562 billion in 2017 due to the rising demand for tobacco products due to rise in youth population, increasing disposable income in Asian and African countries due to economic growth.
In the report, the global tobacco market is divided into two segments. Cigarettes, cigars and cigarillos occupy the major portion, accounting for nearly 90% of the market share and the remaining 10% is occupied by the smoking and other tobacco products.
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China was the largest country in the tobacco market in 2017, accounting for more than one-fourth of the market share. This was due to the presence of a large customer base seeking tobacco products in the country. The USA and Russia followed China as the next largest countries in the market.
The tobacco market is fragmented with a number of large and small organizations. The tobacco market is fragmented with the top five competitors making up nearly 30% of the total market in 2017. Philip Morris International Inc. was the largest competitor of the market, followed by Imperial Tobacco, Altria Group Inc., British American Tobacco and Japan Tobacco Inc. Philip Morris is a tobacco producing and cigarette manufacturing company. It was incorporated in 1987 and is headquartered in New York City, USA. The company had more than 82,000 employees as of December 2016.
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