Up in smoke: Prices of cigarettes will likely continue increasing amid tax hikes and regulatory pressures
Cigarette & Tobacco Manufacturing in Canada The Cigarette and Tobacco Manufacturing industry in Canada has flourished despite having to contend with tough regulatory pressures, taxation and declining cigarette consumption. The government has increased excise taxes several times over the past five years in an effort to curb smoking by forcing industry operators to increase prices to salvage profitability. This strategy has been successful since cigarette consumption has declined during the period to the detriment of the industry. The introduction of innovative smoking products has fuelled much of the industry’s revenue growth. These products are perceived as less harmful than cigarettes, which has caused consumption to grow and become an attractive alternative to cigarette manufacturing with major players having launched their first products early in 2018. The industry is expected to grow at a slower pace over the next five years, as similar trends are expected to continue but decelerate.
Operators within this industry stem and redry tobacco, and manufacture cigarettes, cigars, smoking and chewing tobacco and reconstituted tobacco. Industry operators acquire raw materials from tobacco growers, and paper and fibre manufacturers. They then process these materials into tobacco products that are sold to wholesalers and retailers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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