Pune, India, November 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Raw Tobacco Leaves Market.
Global Raw Tobacco Leaves Market is estimated to be valued at USD 20,160.12 Million by 2026, registering a CAGR of 1.46% during the forecast period. Tobacco leaves are long and elliptical. Raw tobacco leaves are unprocessed leaves that excrete a yellow substance containing nicotine. The plant itself is an annual herb that bears five-petaled, trumpet-shaped flowers. Tobacco leaves are generally harvested, dried, and further used in pipe smoking or in cigarettes. Tobacco leaves also have medicinal purposes and are increasingly used in several cuisines to impart a subtle and bitter heat.
Asia-Pacific was the largest market for raw tobacco leaves in 2019, and the region is expected to continue to dominate the global market during the review period. China was the largest country-level market with a share of 40.72% in 2019. However, India is projected to witness a substantial growth rate during the study period. High investments by market players in the expansion of production facilities for raw tobacco leaves, followed by increasing consumption of cigarettes among the youth, are influencing the growth of the raw tobacco leaves market in the region.
The global raw tobacco leaves market is expected to register a notable growth rate during the forecast period. Increasing consumption of cigarettes and other tobacco products in low- and medium-income countries is the prime factor driving the market growth. Innovations in the product line and government initiatives are expected to create new growth opportunities for players in the global market. However, growing illicit trade and regulatory restrictions are anticipated to hamper the growth of the market in the coming years.
Global Raw Tobacco Leaves Market has been segmented on the basis of Leaf Type, Buying Module Type, Application, and Region.
By leaf type, the market has been divided into Virginia, oriental, burley, and blends. The Virginia segment accounted for the largest market share in 2019. Virginia tobacco is mainly grown in the US, China, Argentina, India, Brazil, and Tanzania, and increasing demand for Virginia tobacco leaves in the production of cigarettes is expected to boost the growth of the Virginia leaf market. The Virginia segment is also projected to be the fastest-growing segment during the forecast period.
Based on buying module type, the market has been segmented into farmers, auction, and leaf merchants. The leaf merchants segment accounted for the largest market share in 2019 owing to the several financial and non-financial aids provided by the leaf merchants to the farmers. Leaf merchants or leaf companies are an important stakeholder in the supply chain of raw tobacco leaves. They procure, process, store, and sell raw tobacco leaves to the tobacco product manufacturers. Leaf merchants enter into long-term contracts with tobacco growers to maintain a continuous supply of high quality and quantity tobacco leaves. However, the growing popularity of e-auction systems over traditional manual auction system to have absolute transparency in the auction proceedings and to eliminate the errors that were being encountered in the manual auction system are expected to propel the growth of the auction segment in the global market during the forecast period.
Based on the application, the market has been segmented into smoking tobacco, chewing tobacco, moist & dry snuff, and dissolvable products. The smoking tobacco segment is further bifurcated into cigarettes, roll-your-own, cigars, water pipes, and e-cigarettes & vapes. The smoking tobacco segment accounted for the largest market share in 2019, with cigarettes, water pipes, and cigars contributing to majority of raw tobacco leaves sales. However, the dissolvable products segment is projected to exhibit the highest growth rate during the review period.
Geographically, the global raw tobacco leaves market has been segregated into North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, Asia-Pacific accounted for the dominant share of the global market in 2019, with China being the major consumer of raw tobacco leaves. Europe accounted for a significant share of the global market in 2019 and is expected to be the most lucrative regional market for raw tobacco leaves manufacturers during the review period. Germany is a key contributor to the growth of the raw tobacco leaves market in the region. North America occupied a decent market share in 2019. The presence of several prominent tobacco product manufacturers in the region led to the rising sales of raw tobacco leaves across North America in 2019. The Rest of the World is projected to register the highest CAGR of 2.15% during the forecast period.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/raw-tobacco-leaves-market-10349
Market Research Future recognizes Star Tobacco International (Turkey), Atmiya International (India), Leafcon International (India), Leaf Only (US), Whole Leaf Tobacco LLC (US), Sopariwala Exports (India), NYC Tobacco Leaf LLC (US), Leaf 2 Smoke (Canada), Tobacco and Tubes (India), Capital Tobacco Ltd (Bulgaria), Universal Corporation (US), U.S. Tobacco Cooperative Inc. (US), Alliance One International, Inc. (US), and Associated Tobacco Company Ltd. (India) as the Key Players in the Global Raw Tobacco Leaves The Market.
Key Findings of the Study
The global raw tobacco leaves market is expected to register a growth rate of 1.46% from 2020 to 2026.
The Virginia segment is estimated to register the highest growth rate during the forecast period.
On the basis of buying module type, the leaf merchants segment is expected to hold the largest market share during the forecast period.
The smoking tobacco segment accounted for the maximum market share in 2019. However, the dissolvable products segment is expected to register the highest CAGR of 2.26% during the forecast period.