US Nicotine Market
Dublin, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The "The US Nicotine Market: Analysis By Product (Cigarettes, Cigars & Cigarillos, Vaping Products, Moist Snuff Tobacco and Nicotine Pouches), By Distribution Channel (Offline and Online), Size And Trends With Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
The US nicotine market in 2021 was valued at US$84.78 billion. The market value is projected to reach US$110.63 billion by 2027.
Furthermore, the US nicotine market by volume is anticipated to reach 18.50 billion pieces in 2027. Nicotine is a substance found in all tobacco products and some e-cigarette liquids.
It is a highly addictive substance found in the tobacco plant. Using any tobacco product can lead to nicotine addiction. As nicotine enters the body, it causes a surge of endorphins, which are chemicals that help to relieve stress and pain and improve mood.
The market value is expected to grow at a CAGR of 4.65 % during the forecast period of 2022-2027, with cigarette being the dominant product and vaping products being a key growth driver. Given the rise in marketing of many novel products like cigars and cigarillos and next-generation products, it is expected to project secular growth in demand for nicotine products over the next five years.
Growth Drivers: One of the most important factors impacting the US nicotine market is the growing number of smokers and upsurge in working population. As the lifestyles are centered around work and offices, stress and anxiety levels are growing among working individuals, which leads to growing consumption of stress relieving agents such as nicotine. Furthermore, the market has been growing over the past few years, due to factors such as rising income of individuals, growing popularity of e-cigarettes, shift towards next generation products, peer influence on youngsters, increased investment in research and development (R&D) and many other factors.
Challenges: However, the market has been confronted with some challenges specifically, stringent regulations, increasing taxes on tobacco products, harmful effects of nicotine, etc.
Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as increasing influence of social media, escalating influence of partying and pop culture, strong penetration of organized retail network, rising popularity of tobacco free oral nicotine etc. The rising popularity of partying and pub culture among millennials and working-class communities has especially fueled the demand for flavored and unflavored cigarettes. Furthermore, Social media is also being increasingly used to create awareness related to health benefits of switching to e-cigarettes and vapor products from combustible smoking. This has risen the accessibility and reachability of individuals towards different brands, thereby increasing the demand for non combustible nicotine products, which is estimated to help in the market expansion of nicotine in coming years.
Impact Analysis of COVID-19 and Way Forward:
With rising number of deaths creating a havoc and people forbidden to leave their homes except to obtain basic necessities and healthcare, lockdown policies across the US created a lot of stress and anxiety in the minds of people. This lead to a rise in smoking among people owing to the negative impact of COVID-19 on mental health of individuals because of job loss, rising number of deaths and all day confinement inside the house. People started consuming nicotine through next generation products such as vaping and heated tobacco products.
The US nicotine market is concentrated due to the presence of a relatively small number of market participants. Altria is the market leader in Tobacco products and held a dominant share of the total nicotine industry.
The key players in the US nicotine market are:
British American Tobacco P.L.C. (BAT)
Turning Point Brands Inc.
Altria Group Inc. (Altria)
Scandinavian Tobacco Group
Imperial Brands PLC
Philip Morris International Inc. (PMI)
Swedish Match AB
JUUL Labs, Inc.
Vector Group Ltd.
Altria is the US market leader with through its leadership in the cigarettes and MST segment. The Altria's share is expected to decline during forecasted years due to an unfavorable shift within the market to segments where Altria under-indexes, such as vaping, and some loss of share within the cigarettes and MST segments.
The Vapor category has experienced rapid changes in share and market leadership, with JUUL's leadership position eroded since its 2019 peak by strong BAT share gains led by Vuse Alto. On the other hand, JUUL by comparison is expected to witness its value share of the market to rise by 2025 despite losing share in the US vaping segment.
No. of Pages
2022 - 2027
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
3. Global Market Analysis
3.1 The US Nicotine Market: An Analysis
3.1.1 The US Nicotine Market: An Overview
3.1.2 The US Nicotine Market by Value
3.1.3 The US Nicotine Market by Product (Cigarette, Vaping Products, Cigar & Cigarillos, Moist Snuff Tobacco and Nicotine Pouches)
3.1.4 The US Nicotine Market by Distribution Channel (Offline and Online)
3.2 The US Nicotine Market: Segment Analysis
3.2.1 The US Nicotine Market by Product: An Overview
3.2.2 The US Cigarette Market by Value
3.2.3 The US Vaping Products Market by Value
3.2.4 The US Vaping Products Market by Flavor (Tobacco, Menthol and Others)
3.2.5 The US Moist Snuff Tobacco (MST) Market by Value
3.2.6 The US Cigar & Cigarillos Market by Value
3.2.7 The US Nicotine Pouches Market by Value
3.3 The US Nicotine Market: Distribution Channel Analysis
3.3.1 The US Nicotine Market by Distribution Channel: An Overview
3.3.2 The US Offline Nicotine Market by Value
3.3.3 The US Online Nicotine Market by Value
3.4 The US Nicotine Market By Volume: An Analysis
3.4.1 The US Nicotine Market By Volume: An Overview
3.4.2 The US Nicotine Market by Volume
3.4.3 The US Nicotine Market Volume by Product (Cigarette, Vaping Products, Cigar & Cigarillos, Moist Snuff Tobacco and Nicotine Pouches)
3.5 The US Nicotine Market By Volume: Product Analysis
3.5.1 The US Nicotine Market Volume by Product: An Overview
3.5.2 The US Cigarette Market by Volume
3.5.3 The US Vaping Products Market by Volume
3.5.4 The US Moist Snuff Tobacco (MST) Market by Volume
3.5.5 The US Cigar & Cigarillos Market by Volume
3.5.6 The US Nicotine Pouches Market by Volume
4. Impact of COVID-19
4.1 Impact of COVID-19 on the US Nicotine Market
4.2 Impact of COVID-19 on Next Generation Product Market
4.3 Post COVID-19 Impact on the US Nicotine Market
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)
5.2.1 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
7.1 British American Tobacco P.L.C. (BAT)
7.1.1 Business Overview
7.1.2 Operating Geographic Region
7.1.3 Business Strategy
7.2 Turning Point Brands Inc.
7.2.1 Business Overview
7.2.2 Operating Segment
7.2.3 Business Strategy
7.3 Altria Group Inc. (Altria)
7.3.1 Business Overview
7.3.2 Operating Segment
7.3.3 Business Strategy
7.4 Scandinavian Tobacco Group
7.4.1 Business Overview
7.4.2 Net Sales by Divisions
7.5 Imperial Brands PLC
7.5.1 Business Overview
7.5.2 Operating Segment
7.5.3 Business Strategy
7.6 Philip Morris International Inc. (PMI)
7.6.1 Business Overview
7.6.2 Operating Segment
7.6.3 Business Strategy
7.7 Swedish Match AB
7.7.1 Business Overview
7.7.2 Product Segment
7.7.3 Business Strategy
7.8 JUUL Labs, Inc
7.8.1 Business Overview
7.8.2 Business Strategy
7.9.1 Business Overview
7.9.2 Business Strategy
7.10 Vector Group Ltd.
7.10.1 Business Overview
7.10.2 Operating Segment
7.10.3 Business Strategy
For more information about this report visit https://www.researchandmarkets.com/r/dxrloj
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