Recently, British American Tobacco (BAT) released its 2022 annual report. The report disclosed operational data for BAT's Glo product in 2022.
Report Reveals Global Market Outlook for Glo in 2022:
Glo's market share has reached 19.4%, a year-on-year increase of 1.4%. Glo's global revenue has grown by 24.3% or 26.7% and is expected to continue to grow in the second half of 2022. The number of Glo's consumers has increased by 2 million, reaching 8.8 million, a growth of 30%. Glopod's sales have grown by 25.6%, surpassing the industry growth rate of 15%. Glo's share of the tobacco market (FMC and THP combined) has reached 7.4%, an increase of 0.6% compared to 2021.
In 2022, Glo's sales performance in its key markets is as follows:
Glo, a tobacco heating product (THP) produced by British American Tobacco (BAT), has seen an increase in its market share in Japan and Europe. In Japan, a shift in consumer preference from traditional cigarettes to THPs has boosted Glo's market share (combining both traditional tobacco and THPs) to 7.4% in 2021, representing a 0.6% growth from the previous year. Meanwhile, in Europe, Glo's sales have grown by 33.8% leading to a continued strong increase in revenue by 57.3% or 53.3% (at a fixed exchange rate). The region currently accounts for over 54% of BAT's global THP volume (excluding Russia, which accounts for 43%) and 51% of BAT's global THP revenue (excluding Russia, which is 41%). Sources:
A new category acceleration will boost profitability until 2024.
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