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Cigarette Manufacturing in China Industry Research Report – Now Available from IBISWorld Source from: PRWeb 12/03/2012  Revenue for the Cigarette Manufacturing industry in China has been increasing 13.9% annually over the past five years. Despite the recent slowdown in China's economy, the country's large smoker population is set to drive strong growth in industry revenue to $116.0 billion in 2012, says IBISWorld. Even the global economic recession of 2008 and 2009 had very little effect on the industry as the demand elasticity for cigarettes is quite low and stable, and because cigarette prices are very low in China. There are about 48 cigarette manufacturers in the Cigarette Manufacturing industry in China, although merger activity has led to a fall in enterprise numbers over the past five years. Revenue from the top four enterprises – Hongyun Honghe Group, Shanghai Tobacco (Group) Corporation, Hongta Group, and China Tobacco Hunan Industrial – accounts for about a third of total industry revenue, which reflects the wide range of cigarette and cigar brands in China. Each brand has a range of different level cigarettes and loyal consumers. In recent years, Chinese smokers have attached greater importance to brand reputation and there has been a consumer shift toward famous-brand, high-quality cigarettes. As a result, domestic cigarette manufacturers have invested in developing their brands and increasing production of higher value-added products. Related Updates |