Dublin, Feb. 08, 2022 (GLOBE NEWSWIRE) -- The "United States Tobacco Market, By Product (Cigarettes, Cigar, Smoking Tobacco, Smokeless Tobacco), By Distribution Channel, By Region, By Top 10 Leading States, Competition, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The United States Tobacco Market stood at USD90.27 billion in 2020 and is expected to grow with a CAGR of 4.47% in the forecast years, 2022-2026, to achieve a market value of USD115.57 billion by 2026F.
Market growth can be attributed to increasing consumers of tobacco. Increased cultivation of tobacco for consumption as well as for the exports are rising and further driving the growth of the United States Tobacco Market in the upcoming five years. The United States tobacco industry includes corporations that grow, sell, and distribute tobacco and related products throughout the states.
The consumer taste and preferences are mostly covered by the variety of products offered by the tobacco companies at several price points. Evolving products, new launches from the existent market players, and new market players flooding the market with recent launches like clove cigarettes, menthol cigars, etc., are some of the major factors supporting the growth of the Untied States tobacco market in the next five years.
Moreover, since customers have become more open to smoking alternatives in recent years, the introduction of innovative tobacco products in a variety of flavors has become critical. As a result, tobacco manufacturers have started concentrating on premium goods made with flue-cured tobacco and fine whole leaf.
The United States Tobacco Market is segmented by product, distribution channel, regional analysis, top 10 leading states distribution, and competitive landscape. Based on product, the market is further bifurcated into cigarettes, cigars, smoking tobacco, and smokeless tobacco. Cigarettes are anticipated to dominate the market segment and hold the largest revenue shares of the market, about 38.54% in the forecast year by 2026.
The market segment growth can be attributed to the increasing inclination of cigarette smokers in the country. Social trends and influential media highly influence the younger population; thus, consumption has increased in recent years and is expected to consistently grow in the future, thus driving the growth of the sub-segment and the United States Tobacco Market in the next five years.
Based on distribution channels, the market is fragmented into tobacco shops, convenience stores, supermarkets and hypermarkets, online stores, and others. Tobacco shops are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of growing demands for tobacco products.
Online sub-segment is expected to register the fastest growing CAGR value in the next five years since it is more convenient and provides a wider selection of products to customers in a shorter amount of time.
Objective of the Study:
- To analyze the historical growth in the market size of the United States Tobacco Market from 2016 to 2020.
- To estimate and forecast the market size of the United States Tobacco Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the United States Tobacco Market based on product, distribution channel, region, top 10 leading states, and company.
- To identify dominant region or state in the United States Tobacco Market.
- To identify drivers and challenges for the United States Tobacco Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the United States Tobacco Market.
- To identify and analyze the profile of leading players operating in the United States Tobacco Market.
- To identify key sustainable strategies adopted by the market players in the United States Tobacco Market.
Some of the major companies operating in the market are
- Philip Morris USA, Inc. (Altria Group, Inc.)
- Reynolds American Inc.
- ITG Brands, LLC
- Liggett Vector Brands LLC
- Swedish Match USA, Inc
- Scandinavian Tobacco Group US Holding, Inc
- UNIVERSAL CORPORATION
- TURNING POINT BRANDS, INC.
- Brown & Williamson Tobacco Corporation
- Mafco Consolidated Group Inc
- J.C. Newman Cigar Company
- Dosal Tobacco Corporation
- Tobacco Rag Processors, Inc.
- Space Jam Juice LLC
- Schweitzer-Mauduit International, Inc.
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
United States Tobacco Market, By Product
- Cigarettes
- Cigar
- Smoking Tobacco
- Smokeless Tobacco
United States Tobacco Market, By Distribution Channel
- Tobacco Shops
- Convenience Stores
- Supermarket and Hypermarkets
- Online Stores
- Others
United States Tobacco Market, By Region
- South
- West
- Mid-West
- North-East
United States Tobacco Market, By Top 10 Leading States
- California
- Texas
- Florida
- New York
- Ohio
- Pennsylvania
- Illinois
- North Carolina
- Michigan
- Georgia
For more information about this report visit https://www.researchandmarkets.com/r/x6uqex
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