In 2023, the import value of unmanufactured stemmed or stripped tobacco to India stood at an estimated $14.765 million. From 2024, a modest upward trend is forecasted with consistent year-on-year growth; 1.87% in 2024, 1.86% in 2025, 1.81% in 2026, 1.72% in 2027, and 1.66% in 2028. Over the five-year forecast period (2024-2028), the compound annual growth rate (CAGR) is calculated to be approximately 1.78%, indicating a steady rise in imports.
Future trends to watch for include:
- Shifts in global tobacco supply chains which may affect import prices and volumes.
- India's regulatory changes or government policies regarding tobacco imports and local tobacco cultivation.
- Economic factors such as currency exchange rates and inflation, which may impact import values.
- Potential changes in consumer preferences and demand for tobacco products within India.