- In 2021, in per stick equivalent terms, the total Volume Sales of the 15 Index Companies combined was split as follows: cigarettes (88.7%); fine cut tobacco (2.5%); heated tobacco (2.3%); cigars (2.3%); cigarillos (1.5%); moist snuff (1.3%); e-liquids (0.4%); closed system vaping products (0.2%); shisha (0.2%); snus (0.2%); pipe tobacco (0.2%); non- tobacco nicotine pouches (0.1%); chewing tobacco (0.1%); NRT products (0.0%). HRPs represented 95.4% of total Volume Sales, RRPs represented 4.6%.
- In 2021, cigarettes accounted for 90.3% of Value Sales of the 15 Index Companies, or USD352.4 billion, (down from 92.3%, or USD348.6 billion, in 2019).
- In 2021, cigarettes accounted for 88.7% of Volume Sales (in per stick equivalent terms) or 4.8 trillion sticks (down from 91.0% or 4.9 trillion sticks in 2019).
- Over the 2019-2021 review period, global cigarette Volume Sales declined from 4.9 trillion sticks to 4.8 trillion sticks (2019-2021 CAGR: -0.3%) for the Index Companies. Compared to the review period of the 2020 Index (2017-2019), the rate of decline has been slowing (2017-2019 CAGR: -0.8%).
- 50.1% of all cigarette Volume Sales for the Index Companies were attributed to CNTC.
- The top four international companies by total cigarette volumes – BAT, PMI, JT, and Imperial – accounted for a further 39.7% of total cigarette Volume Sales of the 15 Index Companies.
- Cigarette Volume Sales of PMI (CAGR: -4.0%), Altria (CAGR: -2.7%) and ITC (CAGR: -2.7%) declined faster than the Index average (CAGR: -0.3%).
- KT&G (CAGR: +6.8%), Eastern Co (CAGR: +2.6%) and CNTC (CAGR: +1.3%) had positive growth rates for cigarette Volume Sales in 2019-2021.
- Across the 15 Index Companies, the rate of cigarette Volume Sales decline was faster in LMICs (CAGR: -2.5%) compared to HMICs (CAGR: -0.3%). Excluding CNTC from the analysis (the majority of whose sales are in its domestic market China, which is categorized as a HMIC), the cigarette volume decline in HMICs was comparable to that of LMICs.
- The top three Index Companies by absolute cigarette volume decline in LMICs were PMI (35.4 billion sticks fewer in 2021 compared to 2019), JT (10.3 billion fewer sticks in 2021 compared to 2019) and BAT (5.3 billion sticks fewer in 2021 compared to 2019).
- The top three Index Companies by absolute cigarette volume decline in HMICs were PMI (30.9 billion sticks fewer in 2021 compared to 2019), JT (21.4 billion sticks fewer in 2021 compared to 2019) and BAT (17.9 billion sticks fewer in 2021 compared to 2019).
For a complete list of sources and references, download the full Index Ranking report.
