Exclusive extracts from this 70-page-long report:
- Who are the key players?
The “Big Four” private corporations dominate the international tobacco market: Philip Morris International, Imperial Brands, BAT and Japan Tobacco. On the other hand, some countries have large state-owned tobacco companies, which are usually highly protected from foreign supply. [...]
Groups analysed in this report include: Imperial Brands, Philip Morris International, British American Tobacco, Altria Group, Japan Tobacco, ITC, Gudang Garam, KT&G, Swedish Match, Vector Group and China National Tobacco.
- What are the players' strategies?
As with most major tobacco manufacturing companies, Imperial Brands has identified smokeless and vapour products as strategic segments for growth. At present, sales and cash flows are largely dependent on the group's traditional markets, with around 90 per cent of operating profit generated from tobacco products in 2017. The company believes that the market for vapes, one of the most promising areas of “new generation products”, is currently worth around $4bn, and could increase to $30bn by 2020. […]
- What are the players' key growth and profitability drivers?
Philip Morris International's sales decreased in 2017, in line with the trend of the previous 5 years. Unfavourable currency movements in primary markets such as Brazil, Egypt, the EU, and Japan, as well as falling sales of the group's primary brand, Marlboro, hit profits and revenues. [...]