Bloomberg: JTI's 2023 Cigarette Shipment Volume Rises, the Only in 3 Tobacco Giants

JTI by 2FIRSTS

Feb.19.2024

Bloomberg: JTI's 2023 Cigarette Shipment Volume Rises, the Only in 3 Tobacco Giants

The difference in sales highlights JTI's differences in strategy. As PMI and BAT shift more research and marketing resources towards alternative products including e-cigarettes, heated tobacco, and nicotine pouches, JTI is more inclined to try to increase market share and sales in traditional cigarettes.

Japan Tobacco International (JTI), the parent company headquartered in Geneva, announced during the release of its annual financial report that the total sales volume of JTI's cigarette brands Winston and Camel increased by 2.3% in 2023.

For comparison, Philip Morris International Inc. transported approximately 613 billion cigarettes in 2023, a decrease of 1.3% from the previous year. British American Tobacco Plc manufactured and transported approximately 555 billion cigarettes last year, a decrease of 8.2% from 2022.

Philip Morris International (PMI) has reported that about one-third of its revenue now comes from smoke-free alternatives, and it plans to increase this proportion to half by 2025. In its recent annual performance report, PMI announced that net revenue from its IQOS heated tobacco product surpassed its flagship brand, Marlboro, in the fourth quarter.

British American Tobacco (BAT) revealed in its annual performance report that its alternative products, including Vuse e-cigarettes and Velo nicotine pouches, are now profitable earlier than previously expected.

Also Read:

[1] JT Group Reports Record Profits in 2023FY: Ploom Occupying More than 10% of Japan's HNB Market

[2] BAT's 2023 Financial Report: New Categories Drive Revenue Growth

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