Tobacco saw an increase in current value terms in 2018. Cigarettes saw a decline in volume sales and a slight increase in current value sales, as US consumers slowly continued to reduce their consumption, whilst producers increased prices to maintain their profits.
Pending FDA regulation, which brings e-vapour products into the FDA’s regulatory purview, will make certification prohibitively expensive for smaller players in this category in future years. As a result, e-vapour products is expected to move from being fragmented to highly consolidated, dominated by major tobacco companies.
Philip Morris International, a subsidiary of Altria Group, has announced plans to completely cease the production of cigarettes. Whilst its plan does not have a definite deadline, the company’s 35% stake in JUUL, and its new product IQOS mean a big leap towards updating and ultimately replacing its cigarettes portfolio.
Convenience channels continue to dominate cigarettes and e-vapour products. However internet retailing and discounters are filling the gap for consumers with differing preferences.
Cigarettes and smokeless tobacco are expected to continue to see volume declines in the forecast period, although current value sales are expected to continue to grow due to price rises. Heated tobacco products entered the market in 2019, which will ensure high volume and current value growth from a low base.
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Discover the latest market trends and uncover sources of future market growth for the Tobacco industry in USA with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Tobacco market research database.