With questions surrounding the viability and long-term future of the tobacco industry, Euromonitor International is releasing a global report on the projected tobacco industry in 2050. The Future of Tobacco report examines the long-term prospects for the industry and is based on the company’s ongoing global tobacco research program in over 80 markets world-wide. The report indicates that despite declining consumption in developed markets, world cigarette volumes will increase over the next few decades due to rising consumption in China. Asia Pacific, driven by China, is predicted to increase its share of the global cigarette market to over half of volume sales. Strict regulation on the tobacco industry along with increasing taxation continues to put pressure on volume sales of tobacco products in more developed markets like the US, Western Europe and Japan. Although China will pay lip service to tobacco control, population growth forecasts mitigate any fall in smoking prevalence, even in the long term. In fact, tobacco users will remain at a billion by 2050, according to Euromonitor’s report. Manufacturers are seeking to offset volume declines in developed markets by a process of premium. We’re seeing manufacturers innovate their so-called global flagship brands, chiefly their premium international offerings, in order to maintain profits and stave off down-trading, says Zora Milenkovic, Euromonitor’s Head of Global Tobacco Research. Innovation - or ’premium’ - is most evident in pack design, type and size as well as special filters and cigarettes, she adds. Premium is threatened by the prospect of plain packaging legislation being adopted in developed markets. In overall equivalent volumes, the world tobacco products market is forecast to contract by about 7% between 2015 and 2050, because of a 9% fall in cigarette volume sales. Other combustible categories are forecast to record volume rises, due to the niche appeal of the products, the perception that they are less dangerous than cigarettes, the price advantage of some segments of cigars, the growth of cigars in China, and the price advantage of Roll Your Own. The concept of reduced harm tobacco products is expected to pick up pace as innovation in non-combustible, cigarette mimicking nicotine delivery devices are developed by cigarette companies. The e-cigarette and the nicotine aerosol cigarette will lead the nicotine delivery market over the long-term, according to Euromonitor’s report The Future of Tobacco. By 2050, Euromonitor International expects the novel nicotine delivery device market (including e-cigarettes) to be equal in value size to the whole other tobacco products market. Meanwhile, the global market research company expects cigarettes to continue to dominate the world tobacco industry. www.bonuos-e-cigarette.com