The Tobacco Industry is comprised of a small set of corporations that grow, sell and distribute tobacco and related products throughout the world. A variety of products, at several price points, cover most customer tastes. Health concerns, which have fostered legal and regulatory pressures, limit the growth prospects of this mature industry. Barriers to entry are relatively high, though, due to government restrictions on marketing and advertising. Consequently, a small number of companies serve this market. In fact, the industry's consolidation over the past decade has created an oligopoly. Pricing power helps to offset declining volume. Sales and earnings are fairly stable throughout the economic cycle.