2014-02-17 23:33:02 - Tobacco Growing in China - a new market research report on companiesandmarkets.com
Tobacco is grown in over 125 countries around the world, on over four million hectares of land, a quarter of which are in China. The global tobacco crop is worth approximately $20.0 billion, a small fraction of the total amount generated from the sale of manufactured tobacco products around the world.
Tobacco is grown on less than one percent of the world´s agricultural land, and in a wide variety of soils and climates. Since the 1960s, the bulk of production has moved from the Americas to Africa and Asia. Land devoted to tobacco growing has been halved in the United States, Canada and Mexico, but has almost doubled in China, Malawi and Tanzania.
Tobacco leaf production in China is set to total
3.0 million tons in 2013, with flue-cured tobacco leaves accounting for about 89.2% of the total. Revenue for the Tobacco Growing industry in China is expected to grow 6.0% to $6.7 billion for the year. In the past five years, industry revenue has been growing at an annualized rate of 4.9%.
ACMR-IBISWorld forecasts that the China Tobacco Growing market will develop steadily during the next five years with rigid market demand and the successful introduction of new technology. Demand from downstream domestic tobacco leaf markets will be the main driver for industry development as well as quality improvements in tobacco leaf production. However, the growing pace is forecast to slow mainly due to the issuance of China´s Tobacco Control Programmes at the end of 2012.
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