Tobacco Market To Expand Industry Growth At USD 1,049.9 Billion By 2030
San Francisco, 11 May 2023: The Report Tobacco Market Size, Share & Trends Analysis Report By Product (Smokeless, Cigarettes, Cigars & Cigarillos, Next-Generation Products, Waterpipes), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2022 - 2030 The global tobacco market size is expected to reach USD 1,049.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 2.4% from 2022 to 2030. The growing demand from developing nations, coupled with the rising proliferation of next-generation products across the globe is driving the market growth. The high marketing expenditure and product discounts by major tobacco companies are further driving the industry growth. Consumption of tobacco through cigarettes has been the predominant factor driving the market growth. According to a World Health Organization (WHO) report in 2019, more than 80% of tobacco users live in low- and middle-income