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        Tobacco Manufacturing Industry Profile

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        Excerpt from Tobacco Manufacturing Industry Profile

        Companies in this industry stem and redry tobacco and manufacture cigarettes and other tobacco products. Major companies include US-based Altria (owner of Philip Morris USA and UST), Philip Morris International, and Reynolds American (a subsidiary of British American Tobacco); China National Tobacco; UK-based British American Tobacco and Imperial Brands; and Japan Tobacco.

        Cigarettes are the most popular tobacco product; more than 5.5 trillion are consumed annually worldwide. The global tobacco market size is expected to reach almost $1.08 trillion by 2027, according to a new report by Grand View Research. By product, cigarettes generated a revenue of around $600 billion in 2019. China, Indonesia, Russia, the US, and Japan are the world's largest cigarette markets in terms of volume sold. Per-capita smoking rates are highest in Eastern Europe and the Asia/Pacific region.

        The US tobacco manufacturing industry includes about 166 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $48 billion.

        COMPETITIVE LANDSCAPE

        Demand is driven by discretionary consumer spending and mitigated by awareness of the health effects of smoking. The profitability of individual companies depends on effective marketing. Large companies enjoy economies of scale in manufacturing and in their ability to offer wider ranges of products. Small companies can compete effectively through heavy discounting, through clever branding and packaging, and by exploiting niche categories such as pipe tobacco and additive-free cigarettes. The US industry is ...

         
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