Mexico Tobacco Product Market Research Report, 2028

Mexico Tobacco Product Market Research Report, 2028

Actual Market Research 31-10-2023 61 Pages Figures : 4 Tables : 13 Region : North America Country : Mexico Category : Consumer Goods & Services Leisure

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The tobacco industry in Mexico is a significant and complex sector with various economic, social, and public health implications. Mexico has a long history of tobacco cultivation, dating back to pre-Columbian times when indigenous peoples grew and used tobacco for religious and medicinal purposes. Today, the industry is primarily centered on the production of cigarettes, cigars, and other tobacco products. The Mexican cigarette market features several domestic and international brands. Some popular domestic cigarette brands include Marlboro (owned by Philip Morris International), Camel (also owned by Philip Morris), and Delicados (by British American Tobacco). These multinational tobacco companies have a significant presence in the Mexican market. The tobacco industry in Mexico contributes significantly to the country's economy by generating revenue, providing employment, and supporting tobacco farmers. In Mexico more than 16.4% of adults (age 15+) are current tobacco smokers (approximately men 25.2% and women 8.2%). The Mexican government also benefits from the significant tax revenue generated from the sale of tobacco products. Additionally, Mexico is a signatory to the World Health Organization's Framework Convention on Tobacco Control (FCTC), which commits the country to take comprehensive measures to reduce the demand for and supply of tobacco products. This includes implementing higher tobacco taxes and stronger regulations to discourage smoking and protect public health. According to the research report "Mexico Tobacco Product Market Overview, 2028," published by Actual Research, the market is anticipated to grow with more than 3% CAGR from 2023-2028. The tobacco products market in Mexico is experiencing a significant shift due to the arrival of new alternatives such as flavored cigarettes, electronic cigarettes, and other cutting-edge products. The rising demand for these products among younger customers is the main driver of this industry change. E-cigarettes, in particular, have gained significant traction, offering a potentially less harmful alternative to traditional cigarettes and appealing to a tech-savvy and health-conscious demographic. The availability and marketing of these alternatives have played a crucial role in boosting market demand. Flavored cigarettes, in various enticing flavors, have attracted a younger and more diverse customer base, making smoking more appealing to a generation that might have otherwise been deterred by the taste of traditional tobacco. This surge in demand, particularly among younger demographics, has prompted both domestic and international tobacco companies to diversify their product portfolios and invest in these emerging segments. Policymakers and health activists confront new difficulties in regulating and reducing the use of these substitute products while striking a balance between the tobacco industry's financial interests and the need to safeguard public health as Mexico's tobacco landscape continues to change. The report exhibits a clear segmentation based on product types, which encompasses categories such as Cigarettes, Smokeless Tobacco, Cigar and Cigarillos, Next Generation Products, and Kretek. Cigarettes have traditionally dominated this market, reflecting the long-standing preference for traditional smoking in Mexico. Following Cigarettes, Smokeless Tobacco and Cigar and Cigarillos have also held significant market shares, catering to diverse consumer preferences. In addition to these established categories, Kretek, which includes clove-flavored cigarettes, has also maintained a notable market presence, offering an alternative and distinctive smoking experience for consumers. An interesting trend in the Mexican tobacco market is the growing anticipation of the growth of Next Generation Products. These products, which often include electronic cigarettes, heated tobacco devices, and other innovative alternatives, are increasingly gaining attention as consumers become more health-conscious and seek less harmful alternatives to conventional smoking. The rise of Next Generation Products signifies a broader global shift towards harm reduction and awareness of the health risks associated with traditional smoking. As the regulatory environment and consumer preferences continue to evolve, it is expected that Next Generation Products will play a more prominent role in the Mexican tobacco market in the coming years. However, it is essential to consider that the regulatory landscape for these products may change, impacting their market growth and overall dynamics in Mexico. A range of retail channels make up the distribution channels for tobacco goods, and the market is divided into multiple segments, such as Specialty Stores, Hypermarkets/Supermarkets, Convenience Stores, Online, and Others. Specialty stores have historically dominated this industry by providing a large assortment of tobacco goods to suit various consumer tastes. Supermarkets and hypermarkets are right behind, offering tobacco products easily accessible next to other household items. But with the rise of online sales channels, a significant change in the distribution environment is expected. In the upcoming years, it is anticipated that the market for tobacco goods sold online would rise significantly. With the ease and discretion of buying tobacco products online, this trend fits in with broader e-commerce advancements and shifting customer shopping habits. With the ongoing changes in regulations, such as more stringent limitations on point-of-sale marketing and raised awareness of health issues, more customers might resort to online marketplaces for their tobacco requirements. This change demonstrates how the tobacco distribution industry is evolving and how important internet channels are becoming in meeting customer needs. Considered in this report: •Geography: Mexico •Historic year: 2017 •Base year: 2022 •Estimated year: 2023 •Forecast year: 2028 Aspects covered in this report: •Mexico Tobacco Product market with its value and forecast along with its segments •Various drivers and challenges •On-going trends and developments •Top profiled companies •Strategic recommendation By Product: •Cigarette •Smokeless Tobacco •Cigar and Cigarillos •Next Generation Products •Kretek By Distribution Channel: •Speciality Store •Hypermarket/supermarket •Convenience Stores •Online •Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Tobacco Product industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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