Key Market Indicators
Serbian tobacco production is projected to decline to approximately 6,500 metric tons by 2028, down from around 7,200 metric tons in 2023. This represents a year-on-year compound annual growth rate (CAGR) decrease of 1.6%. The trend of declining production is not new for Serbia; since 2011, the country's tobacco supply has been decreasing by about 0.1% annually. In 2023, Serbia ranked 42nd globally in tobacco production, with Kenya surpassing it by reaching a similar figure of around 7,200 metric tons. Leading the global rankings were India, Brazil, and Zimbabwe, securing the second, third, and fourth spots, respectively.
