Press Release
Press Release
The growing cost-effectiveness of cigarettes, coupled with the expansion of their distribution channels, is fuelling the market growth in Europe. The increasing number of daily smokers, especially men, is also propelling the demand for cigarettes. As smoking is a significant social activity in various European countries such as France and Greece, among others, the demand for cigarettes is rising.
Leading cigarette companies are increasingly targeting young consumers and women as their significant consumers, which is expected to propel the market. Moreover, the use of premium and aesthetic packaging of cigarettes is surging the appeal among women. This is likely to drive the market growth in the forecast period.
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The leading companies in the market include Philip Morris International Inc. (NYSE: PM) and Continental Tobacco Corporation. The latter implemented an investment of about HUF 10 billion in its factory at Sátoraljaújhely in September 2021. The investment would enable the company to build an 1800 square feet 3-storey factory hall.
As a part of the investment, the company would also establish a technologically advanced plant with extended capacity and modernised techniques for the primary processing of tobacco.
Moreover, on the third level, a new area would be available for secondary equipment like cigarette-making machines with laser perforation technology and spiral overlapping and cigar-making machines. With the investment, the company would boost its production of tobacco products and enhance its presence in both Hungary and other European countries. This is surging the manufacturing of cigarettes in Europe.
The major players in the Europe cigarette market are Philip Morris International Inc., JT International SA, British American Tobacco p.l.c., Imperial Brands PLC, Bulgartabac-Holding AD, and Continental Tobacco Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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