United States Tobacco Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “United States tobacco Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the United States tobacco market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The United States tobacco market is expected to exhibit a growth rate (CAGR) of 0.40% during 2023-2028. The growing population, rapid urbanization, the rising demand for tobacco, the introduction of organic and additive-free tobacco, emerging technological advancements, and several marketing strategies represent some of the key factors driving the market.
Tobacco is a plant-based product prepared from the cured leaves of the Nicotiana genus. It contains nicotine, which is a psychoactive substance leading to challenging cessation. It involves smoking in various forms, including cigarettes, cigars, and pipes, and in smokeless forms, such as snuff, chewing tobacco, and dipping tobacco. It supports some farming practices as its extracts deter insects and pests from attacking other crops and finds various applications in genetic research and biotechnology. Besides this, nicotine extracted from tobacco is utilized in some medical products to help people quit smoking. Moreover, as it offers a temporary reduction in stress and relaxation feeling due to the effect of nicotine on the brain, the demand for tobacco is increasing across the United States.
United States Tobacco Market Trends and Drivers:
The increasing working population, hectic and stressful lifestyles of individuals, and easy availability of distinctive and innovative flavors, such as clove, anise, citrus, spearmint, and wintergreen, represent one of the key factors stimulating market growth. Furthermore, the leading tobacco producers in the United States are focusing on the introduction of new flavors, blends, and technologically advanced devices, like heat-not-burn products, which is positively influencing the market. Moreover, the easy accessibility and availability of tobacco products across online channels offering discounts, home delivery service, and secure payment methods are strengthening the market growth. Apart from this, individuals in the United States are preferring alternative tobacco products, like e-cigarettes and vaping devices, which is driving the market.
The report segmented the market on the basis of region, type.
- Roll Your Own
- Smokeless Tobacco
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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