Based on product type, the regular product segment attained the highest revenue share in Cambodia Cigarette Market – 6Wresearch
Regular product type segment secured the predominant share of revenue as it is widely available in most markets such as convenience stores, and retail outlets and consumers have a high level of familiarity as it is one of the traditional forms of tobacco consumption. However, it is expected that in the coming years, slim and other types of cigarette segments will have a higher growth as it is available in a variety of flavours and due to their packaging and advertising may appeal to specific demographics, particularly younger consumers who are more influenced by lifestyle and fashion trends.
According to 6Wresearch, The Cambodia Cigarette Market size is projected to grow at a CAGR of 1.9% during 2023-2029F. According to Cambodia's Ministry of Agriculture, Forestry, and Fisheries, there was a decline in tobacco planting in 2018, despite the country enjoying duty-free and quota-free exports of tobacco leaves to Vietnam and other nations. However, in recent years, there has been a slight increase in tobacco production in 2020. Moreover, there has been a modest rise in exports, from $6,235 thousand in 2021 to $6,254 thousand in 2022, and imports have also increased from $211,620 thousand in 2021 to $256,009 thousand in 2022. Consequently, the heightened import of tobacco is expected to augment the supply of raw materials for Cambodian cigarette manufacturers.
This production and influx of raw materials could lead to improved manufacturing rates and a broader range of cigarette products, potentially boosting the Cambodia Cigarette Market Growth.
According to Dhaval, Research Manager, 6Wresearch, the Central Plains on the basis of region has garnered the maximum revenue share, driven by rapid urbanization and a substantial young population. This demographic shift would contribute to increased consumer spending on cigarettes.
The Cambodia Cigarette Market (2023-2029) report provides an in-depth analysis with 17 figures and 7 tables, covering 66 pages. The report comprehensively covers the market by product type, flavour type, and region. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.