Sections
| Title | Starting Page | Number of Pages |
|---|
| Cover Page | 1 | 1 |
| List of Contents and Tables | 2 | 1 |
| List of Contents and Tables (CONT) | 3 | 1 |
| CIGARETTES IN THE US | 4 | 1 |
| Graph - Country Reports Disclaimer | 4 | 1 |
| Cigarettes in the US - Category Analysis | 5 | 1 |
| Key Data Insights | 5 | 1 |
| 2025 Developments | 5 | 1 |
| Cigarettes summary | 5 | 1 |
| Key Industry Trends | 5 | 1 |
| CIGARETTES IN THE US | 6 | 1 |
| Graph - Pursuit of Value | 6 | 1 |
| Cross-Format Consumption | 6 | 1 |
| Industry Performance | 6 | 1 |
| Smokers Rating purchases as volumes decline sharply | 6 | 1 |
| Shifting consumer behaviour accelerates category decline | 6 | 1 |
| CIGARETTES IN THE US | 7 | 1 |
| Affordability pressures reshape consumption patterns | 7 | 1 |
| Graph - Sticks volume -Million sticks | 8 | 1 |
| What's Next? | 8 | 1 |
| Price-sensitive smokers anticipated to accelerate shift to discount options as volumes fall | 8 | 1 |
| Manufacturers expected to face shrinking volumes as regulatory shifts drive consumer migration | 8 | 1 |
| CIGARETTES IN THE US | 9 | 1 |
| Graph - Chart 3 Forecast Volume Sales 2020-2030 | 9 | 1 |
| Competitive Landscape | 9 | 1 |
| Value brands increase but philip morris and rj reynolds hold steady | 9 | 1 |
| CIGARETTES IN THE US | 10 | 1 |
| Chart 4 Analyst Insight for Cigarettes | 10 | 1 |
| Graph - Chart 6 Brand Shares 2025 | 10 | 1 |
| Table/Chart: % Share (GBO) - Sticks volume - 2025 | 10 | 1 |
| Table/Chart: Tabular Data Analysis | 10 | 1 |
| CIGARETTES IN THE US | 11 | 1 |
| Channels | 11 | 1 |
| Convenience retailers maintain dominance as primary purchase points | 11 | 1 |
| Table/Chart: % Share (LBN) - Sticks volume 2025 | 11 | 1 |
| Table/Chart: Tabular Data Analysis | 11 | 1 |
| CIGARETTES IN THE US | 12 | 1 |
| Retail e-commerce remains marginal as regulations limit online sales | 12 | 1 |
| Graph - Chart 7 Retail Channels 2020-2025 | 12 | 1 |
| CIGARETTES IN THE US | 13 | 1 |
| Taxation rates | 13 | 1 |
| Average cigarette pack price breakdown | 13 | 1 |
| Products | 13 | 1 |
| Limited differentiation defines the product landscape | 13 | 1 |
| Table/Chart: Chart 8 Average Cigarette Pack Price Breakdown: Brand Examples | 13 | 1 |
| Table/Chart: Tabular Data Analysis | 13 | 1 |
| CIGARETTES IN THE US | 14 | 1 |
| Stagnation in product development narrows competitive options | 14 | 1 |
| Economic Context | 14 | 1 |
| Chart 9 Economic Context for Cigarettes | 14 | 1 |
| Political | 14 | 1 |
| Graph - Economic | 14 | 1 |
| Technological | 14 | 1 |
| Graph - CIGARETTES IN THE US | 15 | 1 |
| Graph - Chart 11 Inflation 2020-2030 | 15 | 1 |
| CIGARETTES IN THE US | 16 | 1 |
| Graph - Population | 16 | 1 |
| Income and Expenditure | 16 | 1 |
| Graph - Lifestyles | 16 | 1 |
| Graph - Chart 13 Population 2020-2030 | 16 | 1 |
| Graph - Population by Generation Share of total population % | 17 | 1 |
| Country Reports Disclaimer | 17 | 1 |
| Nicotine in the US - Industry Overview | 18 | 1 |
| Executive Summary | 18 | 1 |
| 2025 developments | 18 | 1 |
| Key Data Insights | 18 | 1 |
| Key Industry Trends | 18 | 1 |
| CIGARETTES IN THE US | 19 | 1 |
| Graph - Declining Smoking Prevalence | 19 | 1 |
| Cross-Format Consumption | 19 | 1 |
| Industry Performance | 19 | 1 |
| Shifts in nicotine consumption highlight cigarette decline while modern alternatives gain traction | 19 | 1 |
| CIGARETTES IN THE US | 20 | 1 |
| Value-seeking behaviour drives cross-format consumption as cigarette volume declines | 20 | 1 |
| Graph - Chart 16 Volume Sales 2020-2030 | 20 | 1 |
| CIGARETTES IN THE US | 21 | 1 |
| Graph - Chart 17 Volume Sales by Category 2025 | 21 | 1 |
| CIGARETTES IN THE US | 22 | 1 |
| CIGARETTES IN THE US | 23 | 1 |
| Graph - Sticks volume Million sticks % Y-O-Y Growth | 23 | 1 |
| Graph - Chart 19 Forecast Volume Sales by Category 2025-2030 | 23 | 1 |
| Graph - CIGARETTES IN THE US | 24 | 1 |
| Competitive Landscape | 24 | 1 |
| Zyn and velo plus outpace cigarettes as shares fragment | 24 | 1 |
| Velo plus ignites new rivalry in nicotine pouches | 24 | 1 |
| CIGARETTES IN THE US | 25 | 1 |
| Product innovation and convenience drive new business gains | 25 | 1 |
| Chart 20 Analyst Insight for Nicotine | 25 | 1 |
| Graph - Chart 21 Company Shares 2025 | 25 | 1 |
| CIGARETTES IN THE US | 26 | 1 |
| Graph - Chart 22 Brand Shares 2025 | 26 | 1 |
| Table/Chart: % Share (GBO) = Sticks volume = 2025 | 26 | 1 |
| Table/Chart: Tabular Data Analysis | 26 | 1 |
| CIGARETTES IN THE US | 27 | 1 |
| Channels | 27 | 1 |
| Nicotine retail channels become increasingly bifurcated between convenience stores and untracked, illicit channels | 27 | 1 |
| Table/Chart: % Share (LBN) - Sticks volume 2025 | 27 | 1 |
| Table/Chart: Tabular Data Analysis | 27 | 1 |
| CIGARETTES IN THE US | 28 | 1 |
| Online retailers expand pouch sales as illicit vapour accelerates | 28 | 1 |
| Products | 28 | 1 |
| Consumer demand for convenience and discretion redefines the innovation agenda | 28 | 1 |
| CIGARETTES IN THE US | 29 | 1 |
| Higher-moisture formulations and flavour architecture represent the frontier of product development | 29 | 1 |
| Modern oral innovation unlocks premium margins and accelerates portfolio repositioning | 29 | 1 |
| Operating Environment | 29 | 1 |
| Legislation | 29 | 1 |
| CIGARETTES IN THE US | 30 | 1 |
| Minimum legal smoking age | 30 | 1 |
| Table/Chart: Chart 23 Legislation Summary at a Glance | 30 | 1 |
| Table/Chart: Tabular Data Analysis | 30 | 1 |
| CIGARETTES IN THE US | 31 | 1 |
| Smoking prevalence | 31 | 1 |
| Tar levels | 31 | 1 |
| CIGARETTES IN THE US | 32 | 1 |
| Plain packaging | 32 | 1 |
| Advertising and sponsorship | 32 | 1 |
| CIGARETTES IN THE US | 33 | 1 |
| Point-of-sale display bans | 33 | 1 |
| Smoking in public places | 33 | 1 |
| CIGARETTES IN THE US | 34 | 1 |
| Low ignition propensity (lip) cigarette regulation | 34 | 1 |
| CIGARETTES IN THE US | 35 | 1 |
| Flavoured tobacco product ban | 35 | 1 |
| Reduced harm | 35 | 1 |
| CIGARETTES IN THE US | 36 | 1 |
| Vapour products | 36 | 1 |
| Production/Imports/Exports | 36 | 1 |
| CIGARETTES IN THE US | 37 | 1 |
| Political | 37 | 1 |
| Graph - Economic | 37 | 1 |
| Technological | 37 | 1 |
| Graph - Chart 25 Real GDP Growth 2020-2030 | 37 | 1 |
| CIGARETTES IN THE US | 38 | 1 |
| Graph - Annual Rates of Inflation % | 38 | 1 |
| Consumer Context | 38 | 1 |
| Population | 38 | 1 |
| Graph - Chart 27 Consumer Context for Nicotine | 38 | 1 |
| Ageing society | 38 | 1 |
| Income and Expenditure | 38 | 1 |
| Lifestyles | 38 | 1 |
| CIGARETTES IN THE US | 39 | 1 |
| Graph - Chart 28 Population 2020-2030 | 39 | 1 |
| Graph - Chart 29 Population by Generation 2025 | 39 | 1 |
| Country Reports Disclaimer | 40 | 1 |
| Graph - Report closing date: 23 June 2026 | 40 | 1 |
