THE GLOBAL TOBACCO INDUSTRY

MARKET ANALYSIS IN THE LIGHT

In addition to a comprehensive view of the sector's environment and demand (macroeconomic factors, changes brought about by digital transformation and ecological transition, etc.), the study provides our exclusive analysis of the past evolution of the global tobacco industry and its prospects.

COMPANIES' BUSINESS STRATEGIES

Diversify into heated tobacco and vaping, raise prices to preserve margins, expand into emerging markets, optimize distribution and sales networks, position themselves in less-taxed products such as oral products, influence regulations through lobbying, etc. : the report details the growth levers prioritised by the world leaders in the tobacco industry, after analysing their main strengths and weaknesses.

EXPLANATION OF THE CHANGES IN THE COMPETITIVE LANDSCAPE

This report also provides an individualised and aggregated financial analysis of the operators' financial performance. In particular, it deciphers the evolution of sales and operating profit rate for the analysed companies.

1. EXECUTIVE SUMMARY

SUMMARY AND KEY PAGES OF THE REPORT

The summary provides all the elements needed to understand the major trends in the sector and foreseeable developments, drawing on analyses of the market outlook and the strategies of the companies..

2. MARKET FUNDAMENTALS

SCOPE OF THE REPORT

OVERVIEW

BUSINESS FUNDAMENTALS

3. THE MARKET AND LEADERS' ACTIVITY

THE INDUSTRY ENVIRONMENT

• Political factors

• Economic factors

• Socio-cultural changes

• The legislative framework

• Consumer trends

THE GLOBAL TOBACCO MARKET IN VOLUME

• Global cigarette consumption

• Tobacco consumption in China

• Tobacco consumption in Europe

• Tobacco consumption in Southeast Asia

• Tobacco consumption in America

• Tobacco consumption in North Africa and the Middle East

• Tobacco consumption in Oceania

• Tobacco consumption in sub-Saharan Africa

THE GLOBAL TOBACCO MARKET BY VALUE

• The global tobacco market by value

• The global cigarette market by value

• The global market for tobacco heating products by value

• The global market for vaping devices by value

LEADERS'BUSINESS AND PERFORMANCE

• Revenue from the top 10

• The operating income ratio of the top 10

• Analyzing the performance of leaders

4. COMPETITION AND LEADERS' STRATEGIES

COMPETITIVE ENVIRONMENT

• Porter's 5 forces (Overview)

• Competitive intensity

• Threat of new entrants

• Government's influence

• Customers' bargaining power

• Threat of substitutes

• Suppliers'bargaining power

LEADERS' STRATEGIES

• Overview of major strategic challenges

• Overview of key strategic levers

• Diversifying supply towards heated tobacco and vaping

• Raising prices to preserve marging

• Expanding in emerging markets

• Optimising distribution and sales networks

• Positioning on less taxed products such as oral products

• Influencing regulations through lobbying

• Communicating risk reduction

• Exploring the legal cannabis market

5. SOURCES

6. ANNEXES

7. FORCES AT WORK

• Ranking of the 10 world leaders in the global tobacco industry

• Key performance indicators of the 10 leaders (revenue growth and EBIT rate)

• SWOT analysis of the 10 leaders

8. LEADERS' PROFILES

• China National Tobacco

• Philip Morris International

• British American Tobacco

• Imperial Brands

• Altria

• Japan Tobacco

• Gudang Garam

• ITC

• KT&G

• Smoore International

China National Tobacco

Philip Morris International

British American Tobacco

Imperial Brands

Altria

Japan Tobacco

Gudang Garam

ITC

KT&G

Smoore International