Tobacco, one of the most addictive substance and widely used in the world, is native to America and historically one of the most important crops grown by the American farmers. The tobacco industry is a global industry which comprises of those people and companies who are engaged in the growth, preparation for sale, shipment, advertisement, and distribution of tobacco and tobacco-related products that involves in the manufacture of cigarettes, cigars, snuff, chewing tobacco and pipe tobacco. India stands behind China and Brazil, as one of the largest producers and exporter of this product.

Despite the health issues, the tobacco industry is flourishing due to its economic importance. Sometimes called sin stocks, tobacco companies are avoided by some investors, including ones who focus on socially responsible investing.

Tobacco is a major source of revenue to Governments in both the developed and emerging markets and cigarettes contribute the lion's share of such revenues. Tobacco taxes in Japan for instance, exceeded US$ 19 billion in 1994, accounting for 1.6% of Japanese Government revenue.These factors together are expected to drive the market over the next few years.

The global tobacco market size was valued at USD 932.11 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 1.8% from 2021 to 2028. The number of smokers has been rising as observed, at the global level. This trend has been further spurred by the launch of new products, including various flavoured tobacco products such as clove cigarettes and menthol cigars. These factors together are expected to drive the market over the next few years.