17-Nov-2020 | Market Research Store
It seems tough for Philip Morris and Altria to entirely disconnect with each other. A decade back, both the firms began following their paths and now reached at the position of joining forces. Both the cigarette and tobacco manufacturers announced of signing an merger agreement.In 2008, PMI was spun off from Marlboro-manufacturer Altria to boost the global tobacco market and shield itself from the US litigations and regulations. Now, if they reunite, a $200 Billion behemoth would establish that overshadowthe value of its biggest rival, British American Tobacco, by almost $120 billion. However, after the split, many things have been changed and Big Tobacco can no moredepend on the cigarettes for the future.
Altria is now focusing on the two key sectors: cannabis and vaping. However, the US regulations are setting strict regulations, particularly for these two sectors that include e-cigarettes and nicotine pods.On a related note, a new law introduced by Arkansas state could renovate the tobacco business and help to boost the tobacco market.Arkansas would revise the Arkansas Tobacco Products Tax of 1977 and extend the eligible age from 18 to 21 years to purchase tobacco products, which include vapes, cigarettes, and e-products. This new legislature will not only target the right customers but also help decreasing dependency and addiction among teenagers. According to some smokers, if any underage people have a strong desire for tobacco, they will somehow arrange it for themselves.
WREG-News Channelhas short discussions with numerous managers at local vaping and tobacco stores across the state and found that around 88 stores are in the corporate chain across the state.The law has now been implemented. The people below or equal to 18 by the year-end and the U.S. Armed Forces members are not allowed to purchase tobacco and related products.
Market Research Store has published a report on global tobacco products market. The report covers all the information regarding the changing market dynamics and other growth rate stimulators.