Smokers number 40 million in the US

Posted on July 17, 2014 by Bruce Townsend

Despite a drop in adult smoking rates, there are regional pockets and demographics where tobacco companies are seeing room for growth. WSJ’s Mike Esterl joins Lunch Break with Tanya Rivero. Photo: Getty
The U.S. adult smoking rate has plunged to below 20% from more than 40% half a century ago. Increasingly, smokers are poorer and less educated. And many smokers call themselves “occasional” or social smokers, consciously reining themselves in to try to avoid getting hooked.Still, there are more than 40 million smokers in the U.S. today. And beneath the broad trends are pockets of growth and opportunity that are generating great interest in the tobacco industry.Smoking rates are higher in gay, lesbian and bisexual groups, which are being targeted by the industry. More Americans are switching to menthol cigarettes like Newport,Lorillard Inc. LO -0.18% ‘s biggest brand. Indeed, Newport is the hot brand that Reynolds American Inc. RAI -1.19% expects to add to its portfolio with its planned $25 billion acquisition of Lorillard, announced Tuesday.

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