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, Research and Markets said.
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. ■