Saudi Arabia Tobacco and Tobacco Products Market (2024-2030) | Size, Revenue, Trends, Forecast, Industry, Growth, Companies, Share, Value, Analysis & Outlook

Saudi Arabia Tobacco and Tobacco Products Market Synopsis

The Saudi Arabia tobacco and tobacco products market is projected to reach a value of USD 2.8 billion by 2026, growing at a CAGR of 4.4% during the forecast period (2020-2026). Tobacco has been consumed in the Middle East since ancient times, although traditional smoking methods have evolved over time. The advent of cigarettes in the region around 1972 gave rise to an entirely new segment for consumption in Saudi Arabia, which was further supported by high disposable income levels due to oil wealth in the country. This subsequently led to a surge in demand for various forms of packaged cigarettes manufactured by prominent brands such as Philip Morris International Inc., Imperial Brands PLC., Japan Tobacco International (JTI), British American Tobacco plc., and Altria Group Inc.

Market Drivers

Increasing population coupled with rising disposable income are key drivers for this regional market growth over the forecast period 2020-2026. The population of Saudi Arabia increased from 28 million people in 2018 to 32 million people as estimated in 2020 owing primarily to migration into cities like Riyadh and Jeddah fueled largely by its expanding economy based on oil reserves and government initiatives that created jobs and generated economic activity within these two cities especially since 2018 when other parts of MEA were facing political turmoil or were affected adversely due to war conditions prevailing therein; thus driving up employment levels alongside higher wages/salaries leading directly towards higher purchasing power among individuals resulting into lower price sensitivity while buying consumer goods including tobacco & related products thereby elucidating growth prospects herewith even more prominently than before.

Challenges of the Market

With Ministry Health having recently implemented several regulations aiming control sale distribution process associated with cigarettes other forms tobacco retailing namely prohibit advertisement production non biodegradable packaging etc.; challenges being faced local players trying establish foothold industry proving be quite disruptive causing many switch alternative options.

Covid 19 Impact on the Market

Moreover, the COVID-19 pandemic has caused significant disruption in this sector due to lockdown restrictions imposed by governments across the globe leading to closure of stores selling these items. Moreover, many people are experiencing financial constraints owing to job losses which might have an adverse effect on their spending capacity thus restraining the growth of this market over the next few years.

key players of the Market

Philip Morris International Inc., British American Tobacco Plc., Japan Tobacco International, and Imperial Brands PLC are some players operating in the market.

Key Highlights of the Report:

• Saudi Arabia Tobacco and Tobacco Products Market Outlook
• Market Size of Saudi Arabia Tobacco and Tobacco Products Market, 2023
• Forecast of Saudi Arabia Tobacco and Tobacco Products Market, 2030
• Historical Data and Forecast of Saudi Arabia Tobacco and Tobacco Products Revenues & Volume for the Period 2020-2030
• Saudi Arabia Tobacco and Tobacco Products Market Trend Evolution
• Saudi Arabia Tobacco and Tobacco Products Market Drivers and Challenges
• Saudi Arabia Tobacco and Tobacco Products Price Trends
• Saudi Arabia Tobacco and Tobacco Products Porter's Five Forces
• Saudi Arabia Tobacco and Tobacco Products Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Tobacco and Tobacco Products Market Revenues & Volume By Type for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Tobacco and Tobacco Products Market Revenues & Volume By Oriental for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Tobacco and Tobacco Products Market Revenues & Volume By Flue Cured for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Tobacco and Tobacco Products Market Revenues & Volume By Burley for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Tobacco and Tobacco Products Market Revenues & Volume By Applications for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Tobacco and Tobacco Products Market Revenues & Volume By Cigarette? for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Tobacco and Tobacco Products Market Revenues & Volume By Cigars for the Period 2020-2030
• Saudi Arabia Tobacco and Tobacco Products Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Applications
• Saudi Arabia Tobacco and Tobacco Products Top Companies Market Share
• Saudi Arabia Tobacco and Tobacco Products Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Tobacco and Tobacco Products Company Profiles
• Saudi Arabia Tobacco and Tobacco Products Key Strategic Recommendations