WORLD
Future Market Insights (FMI) has released a report projecting that by the end of 2026, the organic tobacco market will be worth US$200 million.
In 2017 and beyond, more than 50% of organic tobacco that will be consumed in the world will be flue-cured. The report projects that in 2016, more than 6,800 tons of flue-cured organic tobacco was consumed, globally. Air-cured, sun-cured, and fire-cured organic tobacco are all expected to collectively account for revenues worth over US$126 million towards the end of the forecast period. Presence of high levels of sugar and medium levels of nicotine will keep promoting flue-cured organic tobacco in the years to come.
North America’s organic tobacco production is slated to grow at 6.8% CAGR throughout the projected period. By 2026 end, the region will be accounting for global organic tobacco revenues worth over US$135 million, which will be nearly half of the projected global market value. Companies such as Santa Fe Natural Tobacco Company, Vape Organics, and Mother Earth Tobacco are North American organic tobacco manufacturers recognized as prominent players in the global market. Other key companies profiled in the report include Hi Brasil Tobacco and Bigarette & Co.
According to FMI, an estimated 12,320 tons of organic tobacco was consumed globally by 2016 end. Apropos the report, titled “Organic Tobacco Market: Global Industry Analysis & Opportunity Assessment, 2016-2026,” the growth of global organic tobacco market, in terms of volume, is projected to register a 6.2% CAGR and reach 22,463 tons towards the close of 2026. With tobacco being one of the most profitable crops, farmers from around the world are readily adopting organic farming techniques to partake in the growth of global organic tobacco market.
However, organic cultivation of tobacco takes more time to deliver crop yield, compared to conventional tobacco cultivation methods. Furthermore, organic tobacco cultivation is impacted as governments of several countries have imposed strict regulations regarding consumption as well as production of tobacco. Even still, the global organic tobacco market, which is presently valued at nearly US$135 million, is anticipated to register a 7.5% CAGR and rake in more than US$270 million worth of revenues by 2026-end.