Spain: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in Spain

For the fourth year in a row, the Spanish market for manufactured tobacco, extracts and essences recorded growth in sales value, which increased by 6% to $X in 2021. Overall, consumption saw a mild slump. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Exports of Manufactured Tobacco, Extracts And Essences

Exports from Spain

In 2021, shipments abroad of manufactured tobacco, extracts and essences increased by 288% to X tons, rising for the second year in a row after seven years of decline. Overall, exports, however, recorded a sharp curtailment. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, manufactured tobacco, extracts and essences exports surged to $X in 2021. Over the period under review, exports, however, saw a precipitous curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Morocco (X tons) was the main destination for manufactured tobacco, extracts and essences exports from Spain, with a 48% share of total exports. Moreover, manufactured tobacco, extracts and essences exports to Morocco exceeded the volume sent to the second major destination, Switzerland (X tons), more than tenfold. The third position in this ranking was taken by Russia (X kg), with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Morocco stood at -26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+29.4% per year) and Russia (+57.9% per year).

In value terms, the largest markets for manufactured tobacco, extracts and essences exported from Spain were Russia ($X), Morocco ($X) and Serbia ($X), together comprising 20% of total exports.

In terms of the main countries of destination, Serbia, with a CAGR of +111.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for manufactured tobacco, extracts and essences amounted to $X per ton, falling by -32.6% against the previous year. In general, the export price, however, posted significant growth. The most prominent rate of growth was recorded in 2018 an increase of 1,035% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+58.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Manufactured Tobacco, Extracts And Essences

Imports into Spain

After three years of growth, overseas purchases of manufactured tobacco, extracts and essences decreased by -2.1% to X tons in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 77% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, manufactured tobacco, extracts and essences imports surged to $X in 2021. Over the period under review, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 101% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in years to come.

Imports by Country

Italy (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of manufactured tobacco, extracts and essences imports to Spain, with a combined 82% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +231.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest manufactured tobacco, extracts and essences suppliers to Spain were Italy ($X), Belgium ($X) and the Netherlands ($X), with a combined 81% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +240.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for manufactured tobacco, extracts and essences stood at $X per ton in 2021, with an increase of 18% against the previous year. In general, the import price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 132%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Romania ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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