The tobacco industry — and consumers — have arrived at a pivotal public health crossroads, according to a leading industry analyst. By 2035, rising consumption of smokeless tobacco and nicotine products is expected to overtake shrinking demand for traditional cigarettes in terms of sales volume. Smokeless products feature electronic cigarettes, heated cigarettes, moist snuff, snus and nicotine pouches. “Over the next decade, we anticipate a significant shift in the nicotine landscape whereby smoke-free products overtake combustibles to become the primary driver of industry growth,” Goldman Sachs tobacco analyst Bonnie Herzog wrote in a “deep dive” investor report last week. “On a volume basi... [Read more]