Altria (NYSE: MO) owns the Marlboro brand in the United States, which held a massive 42% market share in the first quarter of 2023. The company's overall market share is 47% when you take into account all of its brands.

That's a great position to be in, but there's a problem with the business: Fewer people are smoking. That changes the dynamics, and the company's three cigarette price increases in the first seven months of 2023 could be a sign of problems to come.

Altria is a consumer staples company, and it operates very similarly to others in the space. It sells a modestly priced product that consumers buy on a regular basis. In this case, the product has addictive properties, which in some ways makes it even more attractive. The problem is that, unlike toothpaste, toilet paper, or frozen dinners, cigarettes also cause cancer (and other diseases).

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Source Fool.com