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LONDON, UK – Global market research company Euromonitor International released today new tobacco data. According to the new research, the cigarettes market will record a US$7.7 billion loss by 2021, compensated by the US$13.2 billion growth in heated tobacco products sales in the same period.
Euromonitor International’s new data show that in 2016, for the first time in decades, the value of the global cigarettes category as a proportion of total tobacco sales fell below 90 percent and by 2021 it will reach 86 percent. While cigarettes sales decline, the new research highlights growth in the use of vapour products but also further changes within this segment.
Shane MacGuill, head of tobacco research at Euromonitor International comments: “The continued growth in vapour products and in particular the emergence of heated tobacco as a viable alternative mode of consumption, represent the major element of disruption for the tobacco industry.”
The new research shows that heated tobacco will be the fastest-growing tobacco category in the next five years to reach US$ 15.4 billion in 2021, up from 2 billion in 2016, recording a 691 percent growth.
According to the new data, in 2016:
MacGuill concludes: “We believe that heated tobacco will gain a solid presence in at least 35 global markets by 2021, accounting for a share of 3.5 percent of total global cigarettes and heated tobacco value. Heated tobacco prospects are strong and strengthening. On this evidence, it is a truly a coming force in global tobacco.”
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About Euromonitor International
Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.