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Vaping rates fall sharply in the US

CONSUMER STAPLES

A national survey administered by the FDA and CDC finds US kids using e-cigarettes dropped from a peak 27.5% in high-schools and 10.5% in middle schools in 2019 to now 7.8% and 3.5% respectively (5.9% altogether). It is the lowest level in a decade.

  • Nicotine pouches - which has generally been growing - held flat at 1.8%.
  • Latest data we have on traditional cigarette use from this age group is in the low-single-digits.
  • Couche-Tard yesterday said traditional US cigarette volumes stabilised for it but on market outperformance. It saw broad based strength in Nicotine pouches.

E-cigarettes and nicotine pouches are considered part of the high-growth segment (non-combustibles) - not great news for the Tobacco co's. FDA's Tobacco division director added "this continued decline in e-cigarette use among our nation’s youth is a monumental public health win".

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