Tobacco Growing in the US - Industry Market Research Report

October 2021 •
38 pages •
Report ID: 862654 •
Format: PDF

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Up in smoke: The decline in the percentage of smokers in the United States is expected persist, causing declines in industry demand

Abstract

Tobacco Growing in the US
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; an estimated one-third of tobacco farmers left the industry. Additionally, poor weather conditions were compounded by falling demand for tobacco products due to an increasingly health-conscious US consumer base. While a slight decline in the value of the dollar over the five years to 2024 should help to stabilize industry exports, operators continuing to exit the industry is expected to lead the total value of exports to decline during the period. However, farmers and cigarette manufacturers will also target a burgeoning consumer base in the developing world where tobacco consumption rates are growing. Finally, the growing popularity of electronic cigarettes will result in new revenue channels for industry operators.

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.

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