Altria: CAGNY 2024
Illicit Products Driving E-Vapor Category Growth
E-Vapor Category Volume
(Volume in Billions of Equivalized Cigarette Packs)
-3.5
+35%
-4.5
15 | ALCS | CAGNY | 2.21.24 | For Investor Purposes ONLY
• We estimate illicit flavored disposable products.
●
represented over 50% of the category in 2023.
• We estimate pod-based volumes declined by 15% in
●
2023 and represented between 15% to 20% of category
volumes.
2022
2023
Source: ALCS CMII Estimates; ATCT; STARS; Circana; ALCS Consumer Research; External Sources. Rounded to the nearest 0.5.
EQ Estimation For purposes of this theoretical analysis the following are assumed to be equivalent: 1 pack of cigarettes = 1.5mL e-vapor consumable. Estimated category volume and share are subject to revisions based on the latest available data.
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