In 2023, the import of cigars, cheroots, and cigarettes with tobacco substitute to the US stood at 18.89 thousand kilograms. Forecasts for 2024 to 2028 indicate a steady decline in import volumes, starting from 17.93 thousand kilograms in 2024 to 14.38 thousand kilograms by 2028, reflecting an overall downward trend.
Year-on-year, the imports are expected to decrease, with a percentage reduction of approximately 5% annually. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) forecasts an average decrease of around 4.6% per year.
Future trends to watch for include:
- Shifts in consumer preferences towards alternative tobacco products and reduced-risk products.
- Potential regulatory changes affecting import tariffs or health policies impacting tobacco substitutes.
- The evolution of international trade agreements that might affect import dynamics.
- Technological advancements in synthetic and substitute tobacco products potentially impacting demand.
