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Exley, R

Walk into an Amsterdam coffee shop, and youll find most patrons smoking cannabis with tobacco

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. Cigarette consumption in the US has been declining steadily for decades, a trend Goldman Sachs expects to accelerate in the coming decade

The trend was recently highlighted by the World Health Organization (WHO), which warned about their rapid global expansion, describing them as products aggressively marketed to adolescents and young people