Tobacco Products - Puerto Rico

Puerto Rico

In 2024, the revenue in the Tobacco Products market in Puerto Rico is estimated to be US$444.6m.
It is projected to experience an annual growth rate of -2.35% (CAGR 2024-2028).
The largest segment in this market is Cigarettes, with a market volume of US$352.6m in 2024.
When compared globally, in China generates the highest revenue, reaching US$298,500m in 2024.
In terms of per capita income, each individual in Puerto Rico is expected to generate US$149.60 in revenue in 2024.
Despite efforts to reduce tobacco consumption, Puerto Rico still has a significant market for tobacco products due to cultural traditions and a lack of strict regulations.

Key regions: Worldwide, India, United States, China, Germany

Market

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Currency

Analyst Opinion

Tobacco products have been the focus of tightening regulations for decades. Higher taxation and increasing health awareness among consumers have reduced smoking rates and volume consumption significantly in the past. Over the forecast period, a certain stabilization of these losses is expected to happen. Most growth in the sector, however, is attributable to novel, risk-reduced products that can broadly be classified as vaping products or e-cigarettes (e.g., Juul).

Methodology

The Tobacco Products market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Tobacco Products industry.