Fewer people smoking in Britain

LONDON, Jan. 8 (UPI) -- Smoking could become a thing of the past in much of the world by 2050, a report in Britain suggests.

Just 20 percent of Britain's population now uses tobacco products, down from more than 50 percent in the 1960s, The Guardian reported.

"The percentage of smokers is declining across the developed world, and the declines are more or less in a straight line in most markets," analysts for Citigroup said in a report. "If these trends continue, then by 2050, many important tobacco markets will have gone to zero smoking."

Citigroup said the numbers reflect "extremely long-term" trends and said price increases would continue to drive profit growth for tobacco companies until about 2020.

Health Secretary Andrew Lansley said the government is considering plans to sell cigarettes in plain packaging to deter children from smoking.

Citigroup analysts said they didn't think changing the packaging will make any difference in smoking rates or profits.

"We don't believe smokers are attracted to smoking by the packs because graphic health warnings already make them look revolting. Furthermore plenty of drugs are bought without branded packaging," Citigroup said.

Citigroup has downgraded its rating on Imperial Tobacco, British American Tobacco and Philip Morris International to "hold" from "buy," but stressed they were not turning "ultra-bearish" on the sector.