United Kingdom: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in the UK

In 2023, the UK market for manufactured tobacco, extracts and essences decreased by X% to $X, falling for the second consecutive year after four years of growth. Overall, consumption, however, saw a significant expansion. Over the period under review, the market reached the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Manufactured Tobacco, Extracts And Essences in the UK

In value terms, manufactured tobacco, extracts and essences production expanded to $X in 2023 estimated in export price. Overall, production enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Exports of Manufactured Tobacco, Extracts And Essences

Exports from the UK

For the seventh year in a row, the UK recorded decline in overseas shipments of manufactured tobacco, extracts and essences, which decreased by X% to X tons in 2023. In general, exports recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, manufactured tobacco, extracts and essences exports shrank sharply to $X in 2023. Overall, exports faced a precipitous shrinkage. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Poland (X tons), Switzerland (X tons) and Germany (X tons) were the main destinations of manufactured tobacco, extracts and essences exports from the UK, together accounting for X% of total exports. The Netherlands, Romania, Ireland, South Africa, Jordan, the United States and Denmark lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for manufactured tobacco, extracts and essences exported from the UK were Switzerland ($X), Ireland ($X) and Germany ($X), with a combined X% share of total exports. Denmark, the United States, Poland, South Africa, the Netherlands, Romania and Jordan lagged somewhat behind, together comprising a further X%.

Denmark, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2023, the average export price for manufactured tobacco, extracts and essences amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price enjoyed significant growth. The most prominent rate of growth was recorded in 2022 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2023 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Manufactured Tobacco, Extracts And Essences

Imports into the UK

Manufactured tobacco, extracts and essences imports into the UK declined remarkably to X tons in 2023, waning by X% on 2022 figures. Over the period under review, imports recorded a dramatic descent. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, manufactured tobacco, extracts and essences imports contracted dramatically to $X in 2023. Overall, imports faced a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Pakistan (X tons) constituted the largest supplier of manufactured tobacco, extracts and essences to the UK, accounting for a X% share of total imports. Moreover, manufactured tobacco, extracts and essences imports from Pakistan exceeded the figures recorded by the second-largest supplier, Sweden (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Pakistan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and Germany (X% per year).

In value terms, the largest manufactured tobacco, extracts and essences suppliers to the UK were Ireland ($X), Sweden ($X) and Germany ($X), with a combined X% share of total imports.

Among the main suppliers, Sweden, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for manufactured tobacco, extracts and essences stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the import price, however, posted a buoyant increase. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform