Tobacco Products - Eastern Asia

Eastern Asia

The Tobacco Products market in Eastern Asia is projected to generate a substantial revenue of US$339.0bn in 2024.
It is expected to witness a steady annual growth rate of 1.54% (CAGR 2024-2028).
Among the various segments within this market, the largest one is Cigarettes, which is estimated to have a market volume of US$320.9bn in 2024.
When comparing the revenue generated globally, it is noteworthy that in China leads the pack with an impressive revenue of US$298,500m in 2024.
This highlights in China's dominant position in the Tobacco Products market.
In terms of per capita revenue, each individual in Eastern Asia is projected to generate US$230.40 in 2024.
This figure provides insight into the economic impact of the Tobacco Products market on the population.
Furthermore, the growing prominence of online sales cannot be overlooked.
By 2024, it is estimated that online sales will account for 7.9% of the total revenue in the Tobacco Products market.
This demonstrates the increasing influence of e-commerce in this sector.
The demand for tobacco products in Eastern Asia remains high, fueled by cultural norms and social acceptance of smoking in countries like China and Japan.

Key regions: Worldwide, India, United States, China, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

Tobacco products have been the focus of tightening regulations for decades. Higher taxation and increasing health awareness among consumers have reduced smoking rates and volume consumption significantly in the past. Over the forecast period, a certain stabilization of these losses is expected to happen. Most growth in the sector, however, is attributable to novel, risk-reduced products that can broadly be classified as vaping products or e-cigarettes (e.g., Juul).

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Tobacco products, namely, Cigarettes, Cigars, Smoking Tobacco, and E-Cigarettes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., Statista Consumer Insights), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as smoking rates, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing and regression analysis. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.