The tobacco is
utilized in manufacturing of cigar, cigarettes, smoking and chewing
tobacco. It is also used in manufacturing ‘snuff’ and ‘bidis’.
The consumption of Tobacco
Products
augmented globally during the economic slowdown due to the
foreclosures, downfall in the stock market and stress of layoffs that
drove many people to seek relief through smoking. However, the
economic recovery eased the stress and lessened the smoking
undertaken for stress relief. Nonetheless, as per WHO (World Health
Organization) the growth in smoking rates particularly in the
emerging nations have exceeded the smoking rate declines in developed
nations that can be credited to health conscious lifestyles, growing
excise taxes and regulations. These factors are expected to drive the
global tobacco products market. The growing awareness among the
health conscious population and anti-tobacco drives held worldwide
coupled with government supportive schemes are hindering the market
growth
The tobacco products
market has a high level of capital intensity as the manufacturers
utilize machinery to automate the processes. The introduction of
machines not only automates the process but also improves the
production efficiency. Growing automation and mechanization has
reduced the dependence on labor. However, the market is labor
intensive in the Asia Pacific countries such as Indonesia, China and
India.
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Some of the key
manufacturers of this industry includes, BAT (British American
Tobacco Plc) and Imperial Tobacco based in the UK while Philip Morris
International based in the U.S. Companies that dominate the domestic
markets include Vietnam's National Tobacco Corporation, Bulgaria's
Bulgartabak, Thailand's Tobacco Monopoly, Egypt's Eastern Tobacco,
and Taiwan's Tobacco & Liquor Corp. Altria, Lorillard and
Reynolds American dominate the U.S. market.
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