Dublin, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The "US Nicotine Market (by Product & Distribution Channel): Insights and Forecast (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
US Nicotine Market Poised for Growth: Insights and Forecasts for 2022-2027
The report offers a detailed examination of the US nicotine market, highlighting the trends, products, distribution channels, and future projections.
The US nicotine market is projected to reach a staggering US$91.78 billion by 2023, exhibiting a Compound Annual Growth Rate (CAGR) of 4.78%. The market by volume is also expected to ascend, reaching 18.22 billion pieces in 2023. The report segments the market into cigarettes, vaping products, moist snuff tobacco (MST), cigars & cigarillos, and nicotine pouches. Notably, cigarettes currently dominate in terms of value and volume, closely followed by vaping products. However, the nicotine pouches segment is anticipated to witness substantial growth due to the rising interest in alternative products.
Distribution Channels: Offline and Online Trends
Distribution channels are bifurcated into offline and online segments. The offline segment currently leads the market, with widespread availability in grocery stores and other retail outlets. However, the online channel is expected to register the highest growth rate in the coming years, driven by increased advertising and promotional efforts by key market players.
Driving Forces and Challenges
Several factors are driving the market growth, including an upsurge in the working population, the growing popularity of e-cigarettes, and a shift towards next-generation products. This growth is further influenced by peer influence among youngsters. However, the market faces challenges such as increasing taxes on tobacco products and the harmful effects of nicotine, which are significant concerns for public health.
Emerging Trends
The report identifies key trends, including the rising influence of social media, the impact of partying and pop culture, the penetration of organized retail networks, and the growing popularity of tobacco-free oral nicotine. Oral nicotine products like flavored gummies and lozenges have become particularly popular among the youth, posing new challenges and opportunities in the market.
Key Market Players
The US nicotine market is fairly concentrated, with a few major players dominating the scene. Altria Group Inc. is identified as a market leader in tobacco products. Other key players profiled in the report include:
- British American Tobacco
- Turning Point Brands
- Altria Group Inc.
- Scandinavian Tobacco Group
- Imperial Brands
- Philip Morris International
- Swedish Match
- JUUL Labs
- Swisher
- Vector Group
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Nicotine: An Overview
2.2 Nicotine Segmentation: An Overview
3. The US Market Analysis
3.1 The US Nicotine Market: An Analysis
3.2 The US Nicotine Market: Segment Analysis
3.3 The US Nicotine Market: Distribution Channel Analysis
3.4 The US Nicotine Market By Volume: An Analysis
3.5 The US Nicotine Market By Volume: Product Analysis
4. Impact of COVID-19
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Upsurge in Working Population
5.1.2 Rising Income of Individuals
5.1.3 Growing Popularity of E-Cigarettes
5.1.4 Shift Towards Next Generation Products
5.1.5 Peer Influence on Youngsters
5.1.6 Increased Investment in Research and Development (R&D)
5.2 Challenges
5.2.1 Stringent Regulations
5.2.2 Increasing Taxes on Tobacco Products
5.2.3 Harmful Effects of Nicotine
5.3 Market Trends
5.3.1 Increasing Influence of Social Media
5.3.2 Escalating influence of Partying and Pop Culture
5.3.3 Strong Penetration of Organized Retail Network
5.3.4 Rising Popularity of Tobacco Free Oral Nicotine
6. Competitive Landscape
6.1 The US Nicotine Players by Market Share
6.2 The US Nicotine Players by Volume Share
6.3 The US Category-based Nicotine Players by Market Share
6.4 The US Category-based Nicotine Players by Volume Share
7. Company Profiles
- British American Tobacco
- Turning Point Brands
- Altria Group Inc. (Altria)
- Scandinavian Tobacco Group
- Imperial Brands PLC
- Philip Morris International
- Swedish Match
- JUUL Labs
- Swisher
- Vector Group
For more information about this report visit https://www.researchandmarkets.com/r/mjkv6w
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