
The US Nicotine Market (by Product & Distribution Channel): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)
Description
The US Nicotine Market (by Product & Distribution Channel): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)
Market Insight:
Nicotine is a chemical that is present in all tobacco products as well as some e-cigarette liquids. It is a highly addictive substance found in tobacco plants. Using any tobacco product can lead to nicotine addiction. When nicotine enters the body, it stimulates the production of endorphins, which are chemicals that help to relieve stress and pain and improve mood.
Given the increased marketing of various unique goods such as cigars and cigarillos, as well as next-generation products, demand for nicotine products is predicted to expand steadily over the next five years. The US nicotine market is expected to reach US$91.78 billion in 2023, growing at a CAGR of 4.78%, during the forecast period. Furthermore, the US nicotine market by volume is anticipated to reach 18.22 billion pieces in 2023.
Segment Covered:
- By Product: In terms of product, the report provides insights of the US nicotine market into five segments: cigarette, vaping products, moist snuff tobacco (MST), cigar & cigarillos and nicotine pouches. In terms of both value and volume, cigarette segment held a maximum share in the market, followed by vaping products. The future of the vaping market looks promising with the rising awareness about vaping products being safer than traditional cigarettes, especially among the younger population. On the other hand, the nicotine pouches segment is expected to grow at a significant CAGR in the forthcoming years owing to the growing interest in alternative products.
- By Distribution Channel: The report further provides the bifurcation of the market into two segments based on the distribution channel: Offline and online. The offline segment held a largest share in the market. Both small and large-scale companies sell their products through offline retail channels due to a large consumer base such as in grocery stores. The online channel is expected to register the highest CAGR during forecasted years owing to increase in spending on advertising and promotion by leading players operating in the market, thus offering significant growth to the segment in the forthcoming years.
Growth Drivers
- Upsurge in Working Population
- Growing Popularity of E-Cigarettes
- Shift Towards Next Generation Products
- Peer Influence on Youngsters
- Increasing Taxes on Tobacco Products
- Harmful Effects of Nicotine
- 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
- Driver: Upsurge in Working Population
- Challenge: Harmful Effects of Nicotine
- Trend: Rising Popularity of Tobacco Free Oral Nicotine
The COVID-19 Analysis:
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.
Analysis of Key Players:
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:
- Imperial Brands PLC
- British American Tobacco P.L.C. (BAT)
- Philip Morris International Inc. (PMI)
- Altria Group Inc. (Altria)
- Turning Point Brands Inc.
- Scandinavian Tobacco Group
- Swedish Match AB
- Swisher
- Vector Group Ltd.
- JUUL Labs, Inc.
Table of Contents
110 Pages
- 1. Executive Summary
- 2. Introduction
- 2.1 Nicotine: An Overview
- 2.1.1 Definition of Nicotine
- 2.2 Nicotine Segmentation: An Overview
- 2.2.1 Nicotine Segmentation
- Table 1: Nicotine Segmentation
- 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
- Table 2: The US Nicotine Market by Value; 2017-2021 (US$ Billion)
- Table 3: The US Nicotine Market by Value; 2022-2027 (US$ Billion)
- 3.1.3 The US Nicotine Market by Product (Cigarette, Vaping Products, Cigar & Cigarillos, Moist Snuff Tobacco and Nicotine Pouches)
- Table 4: The US Nicotine Market by Product; 2021 (Percentage, %)
- 3.1.4 The US Nicotine Market by Distribution Channel (Offline and Online)
- Table 5: The US Nicotine Market by Distribution Channel; 2021 (Percentage, %)
- 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
- Table 6: The US Cigarette Market by Value; 2017-2021 (US$ Billion)
- Table 7: The US Cigarette Market by Value; 2022-2027 (US$ Billion)
- 3.2.3 The US Vaping Products Market by Value
- Table 8: The US Vaping Products Market by Value; 2017-2021 (US$ Billion)
- Table 9: The US Vaping Products Market by Value; 2022-2027 (US$ Billion)
- 3.2.4 The US Vaping Products Market by Flavor (Tobacco, Menthol and Others)
- Table 10: The US Vaping Products Market by Flavor; 2021 (Percentage, %)
- 3.2.5 The US Moist Snuff Tobacco (MST) Market by Value
- Table 11: The US Moist Snuff Tobacco (MST) Market by Value; 2017-2021 (US$ Billion)
- Table 12: The US Moist Snuff Tobacco (MST) Market by Value; 2022-2027 (US$ Billion)
- 3.2.6 The US Cigar & Cigarillos Market by Value
- Table 13: The US Cigar & Cigarillos Market by Value; 2017-2021 (US$ Billion)
- Table 14: The US Cigar & Cigarillos Market by Value; 2022-2027 (US$ Billion)
- 3.2.7 The US Nicotine Pouches Market by Value
- Table 15: The US Nicotine Pouches Market by Value; 2017-2021 (US$ Million)
- Table 16: The US Nicotine Pouches Market by Value; 2022-2027 (US$ Billion)
- 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
- Table 17: The US Offline Nicotine Market by Value; 2017-2021 (US$ Billion)
- Table 18: The US Offline Nicotine Market by Value; 2022-2027 (US$ Billion)
- 3.3.3 The US Online Nicotine Market by Value
- Table 19: The US Online Nicotine Market by Value; 2017-2021 (US$ Billion)
- Table 20: The US Online Nicotine Market by Value; 2022-2027 (US$ Billion)
- 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
- Table 21: The US Nicotine Market by Volume; 2017-2021 (Billion Pieces)
- Table 22: The US Nicotine Market by Volume; 2022-2027 (Billion Pieces)
- 3.4.3 The US Nicotine Market Volume by Product (Cigarette, Vaping Products, Cigar & Cigarillos, Moist Snuff Tobacco and Nicotine Pouches)
- Table 23: The US Nicotine Market Volume by Product; 2021 (Percentage, %)
- 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
- Table 24: The US Cigarette Market by Volume; 2017-2021 (Billion Pieces)
- Table 25: The US Cigarette Market by Volume; 2022-2027 (Billion Pieces)
- 3.5.3 The US Vaping Products Market by Volume
- Table 26: The US Vaping Products Market by Volume; 2017-2021 (Billion Pieces)
- Table 27: The US Vaping Products Market by Volume; 2022-2027 (Billion Pieces)
- 3.5.4 The US Moist Snuff Tobacco (MST) Market by Volume
- Table 28: The US Moist Snuff Tobacco (MST) Market by Volume; 2017-2021 (Billion Pieces)
- Table 29: The US Moist Snuff Tobacco (MST) Market by Volume; 2022-2027 (Billion Pieces)
- 3.5.5 The US Cigar & Cigarillos Market by Volume
- Table 30: The US Cigar & Cigarillos Market by Volume; 2017-2021 (Billion Pieces)
- Table 31: The US Cigar & Cigarillos Market by Volume; 2022-2027 (Billion Pieces)
- 3.5.6 The US Nicotine Pouches Market by Volume
- Table 32: The US Nicotine Pouches Market by Volume; 2017-2021 (Million Pieces)
- Table 33: The US Nicotine Pouches Market by Volume; 2022-2027 (Million Pieces)
- 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
- Table 34: The US Number of People Employed; 2017-2022 (Million)
- 5.1.2 Rising Income of Individuals
- Table 35: The US Household Income Per Capita; 2017-2021 (US$ Thousand)
- 5.1.3 Growing Popularity of E-Cigarettes
- Table 36: The US Vapor Users; 2021 & 2025 (Million)
- 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
- Table 37: FDA Nicotine and Tobacco Regulations; 2019-2022
- 5.2.2 Increasing Taxes on Tobacco Products
- Table 38: The US State excise tax rates; 2022 (US$)
- 5.2.3 Harmful Effects of Nicotine
- Table 39: Harmful Effects of Nicotine
- 5.3 Market Trends
- 5.3.1 Increasing Influence of Social Media
- Table 40: The US Number of Social Network Users; 2021-2027 (Million)
- 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
- Table 41: The US Nicotine Players by Market Share; 2021 (Percentage, %)
- 6.2 The US Nicotine Players by Volume Share
- Table 42: The US Nicotine Players by Volume Share; 2021 (Percentage, %)
- 6.3 The US Category-based Nicotine Players by Market Share
- Table 43: The US Category-based Nicotine Players by Market Share; 2021
- 6.4 The US Category-based Nicotine Players by Volume Share
- Table 44: The US Category-based Nicotine Players by Volume Share
- 8. Company Profiles
- 7.1 British American Tobacco P.L.C. (BAT)
- 7.2.1 Business Overview
- 7.2.2 Operating Geographic Region
- Table 45: British American Tobacco p.l.c. (BAT) Revenue by Geographic Region; 2021 (Percentage, %)
- 7.2.3 Business Strategy
- 7.2 Turning Point Brands Inc.
- 7.2.1 Business Overview
- 7.2.2 Operating Segment
- Table 46: Turning Point Brands Inc. Net Sales by Segments; 2021 (Percentage, %)
- 7.2.3 Business Strategy
- 7.3 Altria Group Inc. (Altria)
- 7.3.1 Business Overview
- 7.3.2 Operating Segment
- Table 47: Altria Group Inc. (Altria) Net Revenues by Segment; 2021 (Percentage, %)
- 7.3.3 Business Strategy
- 7.4 Scandinavian Tobacco Group
- 7.4.1 Business Overview
- 7.4.2 Net Sales by Divisions
- Table 48: Scandinavian Tobacco Group Net Sales by Division; 2021 (Percentage, %)
- 7.5 Imperial Brands PLC
- 7.5.1 Business Overview
- 7.5.2 Operating Segment
- Table 49: Imperial Brands PLC Revenue by Reportable Segment; 2021 (Percentage, %)
- 7.5.3 Business Strategy
- 7.6 Philip Morris International Inc. (PMI)
- 7.6.1 Business Overview
- 7.6.2 Operating Segment
- Table 50: Philip Morris International Inc. (PMI) Net Revenue by Geographic segment; 2021 (Percentage, %)
- 7.6.3 Business Strategy
- 7.7 Swedish Match AB
- 7.7.1 Business Overview
- 7.7.2 Product Segment
- Table 51: Swedish Match AB Sales by Product Segment; 2021 (Percentage, %)
- 7.7.3 Business Strategy
- 7.8 JUUL Labs, Inc
- 7.8.1 Business Overview
- 7.8.2 Business Strategy
- 7.9 Swisher
- 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
- Table 52: Vector Group Ltd. Revenues by Business Segment; 2021 (Percentage, %)
- 7.10.3 Business Strategy
Pricing
Currency Rates
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