Cigarettes' Future Troubled as Alternatives Advance

Of the top ten cigarettes markets in the world, only three (all in Asia-Pacific) are expected to see volume growth by 2019 as increased regulation, taxation, health awareness and the emergence of alternatives such as e-cigarettes impacts sales. To be sure, taxation drives value sales and markets such as South Korea and Russia will be able to balance their volume declines with revenue growth over the same period.