The significant strategic agreement between Altria and JT Group (announced in October 2022) for the commercialization of heated tobacco stick products in the United States also deserves attention. Image Source: Zacks Investment Research Soft Smokeable Product Volumes The overall cigarette industry has been bearing the brunt of the inflationary environment, which has affected Adult Tobacco Consumers’ (“ATC”) spending patterns. Domestic cigarette shipment volumes tumbled 11.6%, mainly due to the industry’s decline rate and retail share losses, trade inventory movements and calendar differences.