In 2022, the tobacco industry continues to witness rising prices due to tax increases and global inflation rates. This has boosted the illicit trade as low-income consumers are finding smoking increasingly unaffordable.
In 2022, tobacco in Sri Lanka is being significantly impacted by the ongoing economic crisis. This is caused by the dollar shortage, which is affecting imports to the country, including the raw materials needed for cigarette production, such as filters and packaging.
According to the latest data, smoking prevalence in Sri Lanka currently stands at 23%. 28% of men in Sri Lanka are regular smokers, while 11% of households have at least one cigarette smoker, figures which can be considered relatively low by Asian standards.
Due to the economic crisis and global inflation rates, the Sri Lankan government has implemented steep taxes on cigarette products in 2022. The primary objective of such taxes is to generate higher government revenues, however, it has encouraged many consumers to switch to lower-priced products such as beedi.
Due to the economic crisis in 2022, Beedi manufacturers, such as Ceylon Tobacco Company (CTC) have been facing additional challenges. As tendu leaves, a key ingredient for Beedi production, are imported from India, the lack of fuel for boats during certain months halted the importation process.
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Understand the latest market trends and future growth opportunities for the Tobacco industry in Sri Lanka with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Tobacco industry in Sri Lanka, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Passport Tobacco covers the seven major tobacco categories: Cigarettes, Cigars & Cigarillos, Smoking tobacco (made up of Pipe tobacco and RYO tobacco), Smokeless Tobacco (snuff and chewing tobacco), E-Vapour Products (closed and open); Heated Tobacco; and Tobacco Free Oral Nicotine. Smoking paraphernalia such as pipes, rolling papers, lighters or matches, etc., are not included, nor are nicotine replacement therapy (NRT) products, which are part of Euromonitor's Passport Consumer Healthcare database.See All of Our Definitions
This report originates from Passport, our Tobacco research and analysis database.
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