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United States Tobacco Growing Industry Research Report: Competition from Substitute Products is Forecast to Suppress Industry Revenue Growth

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Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Tobacco Growing in the US - Industry Research Report" has been added to ResearchAndMarkets.com's offering.

The 2005 deregulation of the Tobacco Growing industry continues to linger over tobacco farmers. The removal of federal production quotas and price supports initiated an exodus that has continued into recent years. Without government support, small and otherwise unprofitable farmers have switched crops, dropping out of the industry entirely. With a consistent and downward annualized trend in the percentage of smokers and with the rise in substitute products such as electronic nicotine delivery systems (ENDS), the industry has been facing declining demand for a significant period.

Amid the COVID-19 pandemic, tobacco farmers received some federal assistance as a part of the CARES Act. Industry revenue has fallen an estimated CAGR of 8.8% to an expected $944.0 million in 2023, when revenue is set to decline 5.7%.

Farms in this industry grow tobacco leaf. Tobacco farmers purchase inputs, such as fertilizers, agricultural chemicals, pesticides, plant seeds, plant bulbs and curing fuel, from farm supply and other wholesaling industries. The tobacco leaf is exported or sold to domestic tobacco product manufacturers.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.


Key Topics Covered:

ABOUT THIS INDUSTRY

  • Industry Definition

  • Main Activities

  • Similar Industries

  • Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

  • Executive Summary

  • Key External Drivers

  • Current Performance

  • Industry Outlook

  • Industry Life Cycle

PRODUCTS & MARKETS

  • Supply Chain

  • Products & Services

  • Demand Determinants

  • Major Markets

  • International Trade

  • Business Locations

COMPETITIVE LANDSCAPE

  • Market Share Concentration

  • Key Success Factors

  • Cost Structure Benchmarks

  • Basis of Competition

  • Barriers to Entry

  • Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

  • Capital Intensity

  • Technology & Systems

  • Revenue Volatility

  • Regulation & Policy

  • Industry Assistance

KEY STATISTICS

  • Industry Data

  • Annual Change

  • Key Ratios

JARGON & GLOSSARY


For more information about this report visit https://www.researchandmarkets.com/r/btooi

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