Tobacco Products: ISIC 16
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Asia Pacific remained the largest global producer of food, beverages and tobacco in 2021, with sales valued at USD3,809 billion. With the release of pent-up demand, the industry’s turnover witnessed an increase in 2021. Going forward, expanding domestic markets and rising productivity are expected to stimulate the industry’s growth. However, with tightening global food supplies amid climate change and geopolitical conflicts, challenges persist, especially for major regional food importers.
Ageing, urbanisation and migration continue to be major factors shaping the global population. The number of seniors around the world kept expanding in 2021 and is expected to grow further in the years to 2040. The number of small children is systematically falling globally due to decreasing fertility rates, later marriages and other factors influencing the change in lifestyles. Containment of the pandemic, gradual lift of the restrictions and political unrest encourage greater mobility and migr
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