U.S.: Tobacco Market 2024

Tobacco Market Size in the U.S.

In 2023, the U.S. tobacco market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The market value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Tobacco consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Tobacco Production in the U.S.

In value terms, tobacco production shrank to $X in 2023. The total output value increased at an average annual rate of X% from 2013 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Tobacco production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Tobacco Exports

Exports from the U.S.

In 2023, shipments abroad of tobacco increased by X% to X tons, rising for the third consecutive year after five years of decline. Overall, exports, however, showed a slight downturn. The exports peaked at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, tobacco exports rose significantly to $X in 2023. Over the period under review, exports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for tobacco exports from the United States, with a X% share of total exports. Moreover, tobacco exports to the Dominican Republic exceeded the volume sent to the second major destination, Canada (X tons), threefold. Morocco (X tons) ranked third in terms of total exports with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to the Dominican Republic amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Morocco (X% per year).

In value terms, the Dominican Republic ($X), Canada ($X) and Indonesia ($X) appeared to be the largest markets for tobacco exported from the United States worldwide, with a combined X% share of total exports. Morocco, Mexico, the UK, China, Germany, Aruba, Panama, the United Arab Emirates, Cambodia and Libya lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Morocco, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average tobacco export price amounted to $X per ton, remaining constant against the previous year. In general, the export price showed a perceptible curtailment. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Libya ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tobacco Imports

Imports into the U.S.

In 2023, tobacco imports into the United States contracted to X tons, reducing by X% compared with 2022 figures. The total import volume increased at an average annual rate of X% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, tobacco imports reached $X in 2023. Over the period under review, total imports indicated a measured increase from 2013 to 2023: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, the Dominican Republic (X tons) constituted the largest tobacco supplier to the United States, with a X% share of total imports. Moreover, tobacco imports from the Dominican Republic exceeded the figures recorded by the second-largest supplier, Nicaragua (X tons), sevenfold. Mexico (X tons) ranked third in terms of total imports with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from the Dominican Republic totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nicaragua (X% per year) and Mexico (X% per year).

In value terms, the Dominican Republic ($X) constituted the largest supplier of tobacco to the United States, comprising X% of total imports. The second position in the ranking was taken by Nicaragua ($X), with a X% share of total imports. It was followed by Honduras, with a X% share.

From 2013 to 2023, the average annual growth rate of value from the Dominican Republic totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nicaragua (X% per year) and Honduras (X% per year).

Import Prices by Country

The average tobacco import price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform