The Clove Cigarettes Market in APAC will register a CAGR of almost 5% by 2023

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Jan 03, 2019, 16:04 ET

LONDON, Jan. 3, 2019 /PRNewswire/ -- About this market
Growing influence of online retailing to drive growth in the market. With the growth of e-commerce businesses worldwide, the vendors have the potential to enhance their profitability. Consumers prefer online shopping and pay for their orders using credit or debit card, which saves time and avoid long queues. Technavio's analysts have predicted that the clove cigarettes market in APAC will register a CAGR of almost 5% by 2023.

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Market Overview
Increasing number of new product launches
The increasing number of new and innovative product launches has boosted the global cigarette market in APAC over the last five years.
Increasing taxes on tobacco products in ASEAN countries
The growing value of different types of taxes such as excise tax, VAT, and cigarette tax in APAC, especially in ASEAN countries has been a major concern for vendors, since it adversely affects their profit margins.
For the detailed list of factors that will drive and challenge the growth of the clove cigarettes market in APAC during the 2019-2023, view our report.

Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Gudang Garam and Japan Tobacco the competitive environment is quite intense. Factors such as the growing influence of online retailing and the increasing number of new product launches, will provide considerable growth opportunities to clove cigarettes manufactures. British American Tobacco, Djarum, Gudang Garam, Japan Tobacco, KT & G, and PHILIP MORRIS INTERNATIONAL MANAGEMENT are some of the major companies covered in this report.

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