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Learn moreJul 2020
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The tobacco market is expected to record a value sales decline at constant 2019 prices in 2020 against the backdrop of the COVID-19 pandemic. While the tobacco industry has historically been mostly immune to economic crises, the shifts within the industry have left it vulnerable to the effects of the pandemic.
On 31 January, US health officials issued quarantine orders to US citizens evacuated from Wuhan, China, amid the COVID-19 outbreak. From 2 February, entry was restricted from China, with this later extended to virus-hit Iran, South Korea and Italy.
The tobacco market continues to diversify, with new offerings and innovation, with non-combustible products now leading in terms of growth. Combustible products, including cigarettes, cigars, cigarillos and smoking tobacco, have grown increasingly stale over the years, suffering volume declines in 2019, or at least slower growth.
While Philip Morris International (PMI), a subsidiary of Altria, remains a giant of the tobacco industry in the US, 2019 has brought challenges for the company, shaking its confidence in e-vapour products. PMI predominantly manufactures premium cigarettes, its main brand being Marlboro.
Cigarettes is expected to continue to see falling volume sales over the forecast period, although the rate of decline will slow after 2020. In spite of cigarettes recording a negative value CAGR at constant 2019 prices over the forecast period, the overall tobacco market will record a positive, but extremely modest, value CAGR, helped by ongoing growth in areas such as smokeless tobacco and e-vapour products.
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Overview
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.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Tobacco industry in USA, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Tobacco market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.