Source: TOBACCO REPORTER, 4/9/21

Amid the Covid-19 crisis, the global market for tobacco estimated at $845.1 billion in the year 2020 is projected to reach a revised value of $1.1 trillion by 2027, according to a new report published by Research and Markets. This translates into a compound annual growth rate (CAGR) of 3.2 percent. Cigarettes are projected to record a 3.1 percent CAGR and reach $734.4 billion by 2027. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the smokeless segment is readjusted to a revised 3.1 percent CAGR for the next seven years.

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