USD 78.48 billion
U.S. Tobacco Market Size, Share, Growth Analysis, By Type Of tobacco(cigarettes, cigar and cigarillos), By Distribution channel(Convenience stores, supermarkets and hypermarkets), By Demographics(Adults aged 18-24, Adults aged 25-44) - Industry Forecast 2024-2031
Report ID:
SQMIG30J2014 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
96 |
Figures:
76
U.S. Tobacco Market Insights
U.S. Tobacco Market size was valued at USD 78.48 billion in 2022 and is poised to grow from USD 81.15 billion in 2023 to USD 106.03 billion by 2031, growing at a CAGR of 3.40% during the forecast period (2024-2031).
The cultivation, production, and distribution of tobacco products form a significant segment of the U.S economy. A wide range of tobacco products, including cigarettes, cigars, smokeless tobacco, and e-cigarettes, are sold through various channels such as retail stores, online platforms, and vending machines.
The U.S tobacco market is among the largest in the world and generates considerable revenue and employment opportunities. The market is supported by a strong demand for tobacco products, particularly cigarettes, which are the most popular tobacco products in the country. The favorable government policies, such as low taxes and minimal regulation, also contribute to the market's growth. Despite its advantages, the U.S tobacco market also faces challenges, such as increasing public health concerns and regulatory pressures. In recent years, the negative health effects of tobacco use have raised awareness, leading to a decline in cigarette consumption and an increase in demand for alternative products.
U.S. Tobacco Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
cigar and cigarillos
Fastest Growth
cigar and cigarillos
Growth Rate
3.40% CAGR
U.S. Tobacco Market ($ Bn)
Country Share for US (%)
U.S. Tobacco Market By Type ($ Bn)
U.S. Tobacco Market By Type (%)
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U.S. Tobacco Market Segmental Analysis
U.S. Tobacco Market is segmented based on Type of tobacco, distribution channel, demographics, and region. By Type of tobacco, the U.S. Tobacco Market is segmented into cigarettes, cigar and cigarillos, smokeless tobacco, e-cigarettes and vaping products, and others. By distribution channel, the U.S. Tobacco Market is segmented into Convenience stores, supermarkets and hypermarkets, Online platforms, vending machines, and others. By Demographics, the U.S. Tobacco Market is segmented. By region, the market is segmented into North Carolina, Kentucky, Virginia, Georgia, and Tennessee.
U.S. Tobacco Market Analysis by Tobacco Type
The U.S. tobacco market has been traditionally dominated by cigarettes, which still hold the largest market share. Nevertheless, there has been a recent decline in cigarette consumption and a rise in demand for alternative tobacco products such as e-cigarettes and smokeless tobacco. Out of these alternative products, e-cigarettes have been experiencing the highest growth rate in the U.S. tobacco market.
U.S. Tobacco Market By Type, 2023 (%)
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U.S. Tobacco Market Regional Insights
North Carolina is the top tobacco-producing state in the US, contributing around 40% of the country's total tobacco production. Kentucky has experienced significant growth in tobacco production in recent years, ranking second in the country in total tobacco production and becoming the fastest-growing state in the industry. Other major players in the US tobacco market include Virginia, Georgia, and Tennessee.
U.S. TobaccoMarket By Country, 2024-2031
- Largest
- Fastest
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U.S. Tobacco Market Dynamics
U.S. Tobacco Market Drivers
Innovative Products to Bolster Sales of Tobacco in The U.S.
- Due to evolving consumer preferences, numerous manufacturers are introducing innovative products such as cigars, cigarillos, and next-generation products to increase their profitability. In the United States, individuals living below the poverty line and with lower levels of education exhibit higher rates of cigarette smoking compared to the general population.
U.S. Tobacco Market Restraints
Health Concerns to Hinder Market Growth
- The U.S tobacco market is facing a challenge due to increasing public health concerns. As people become more aware of the health risks associated with tobacco use, such as respiratory problems, heart disease, and lung cancer, cigarette consumption has decreased. This shift has resulted in an increased demand for alternative products, including e-cigarettes and smokeless tobacco.
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U.S. Tobacco Market Competitive Landscape
The US tobacco industry is characterized by intense competition, with multiple companies striving to capture a larger share of the market. To differentiate themselves from their competitors, these companies compete on factors like pricing, product innovation, and branding.Over the past few years, consumer preferences have shifted towards alternative smoking products like electronic cigarettes and vaping devices. This trend has led to new entrants in the market and existing companies diversifying their product portfolios to cater to changing consumer demands.
The industry has also been impacted by increased regulations and taxes on tobacco products, which has affected the profitability of the companies. To counter this, firms have invested in research and development to create new products that are compliant with regulations and attractive to consumers.Marketing and advertising are critical factors in the competitive scenario of the US tobacco market, and companies use various channels such as television, print, and digital media to reach out to consumers and promote their products.
U.S. Tobacco Market Top Player’s Company Profiles
- Altria Group (Philip Morris USA)
- RJ Reynolds Tobacco Company
- ITG Brands (Imperial Tobacco)
- Liggett Vector Brands
- Santa Fe Natural Tobacco Company (Reynolds American)
- Commonwealth Brands (ITG Brands)
- Nat Sherman
- Swisher International
- Cheyenne International
- National Tobacco Company (ITG Brands)
- Dosal Tobacco Corporation
- Vapor Tobacco Manufacturing
- 22nd Century Group
- Vector Tobacco
- Goodrich Tobacco Company
- Global Tobacco LLC
- Djarum
- KT&G USA Corporation
- National Tobacco Company, L.P. (American Snuff Company)
- Phillips & King International
U.S. Tobacco Market Recent Developments
- In July 2022, Philip Morris International (PMI) introduced a new version of their primary heated tobacco product, priced to be more accessible, as a means to hasten the realization of a tobacco-free future.
U.S. Tobacco Key Market Trends
- The demand for premium tobacco products, specifically in the cigar and cigarillo segments, has been on the rise despite the decrease in cigarette consumption.
U.S. Tobacco Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Based on our analysis of the U.S. Tobacco Market, we expect to see significant growth during the forecast period due to the numerous advantages that it offers. Tobacco product cultivation, production, and distribution form a significant segment of the U.S economy. Due to evolving consumer preferences, numerous manufacturers are introducing innovative products such as cigars, cigarillos, and next-generation products to increase their profitability.
However, The U.S tobacco market is facing a challenge due to increasing public health concerns. As people become more aware of the health risks associated with tobacco use, such as respiratory problems, heart disease, and lung cancer, cigarette consumption has decreased.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 78.48 billion |
| Market size value in 2031 | USD 106.03 billion |
| Growth Rate | 3.40% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on U.S. Tobacco Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on U.S. Tobacco Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the U.S. Tobacco Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Tobacco Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the U.S. Tobacco Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the U.S. Tobacco Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
U.S. Tobacco Market Report Snapshots
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