Philip Morris’ Revenue by Product Category (2016-2022)

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This statistic highlights Philip Morris’ Revenue by Product Category from Q1 2016 onwards, split between Combustible products and Reduced Risk products.
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This statistic highlights Philip Morris’ Revenue by Product Category, split between Combustible products and Reduced Risk products, reported on a quarterly basis from Q1 2016 onwards.

Philip Morris’ Revenue by Product Category

The following table highlights Philip Morris’ Revenue Breakdown by Product Category, in some of its recent quarters.

Revenue by Product Q3 2020 Q2 2021 Q3 2021 Revenue Contribution in Q3 2021
Combustible Products $5.72 $5.32 $5.80 71.34%
Reduced Risk Products $1.73 $2.28 $2.33 28.66%
Total $7.45 $7.60 $8.13 100%

(All figures in billions, except percentages)

Philip Morris International Inc. (PMI) generates most of its revenue from Combustible products, amounting to $5.80 billion in Q3 2021. Conversing about Reduced Risk Products (RRPs), the total revenue grew from $1.73 billion in Q3 2020 to $2.33 billion in Q3 2021, marking a 34.68% increase on a year-on-year basis.

Combustible Products

PMI’s cigarettes are sold in more than 175 countries and  they have ranked 1st or 2nd in terms of market share amongst most of them. Combustible products contributed 71.34% of the company’s total revenue, comprising the sale of PMI’s cigarettes and Other tobacco products combined. This category marked a slight upsurge of 1.4% in revenues from $5.72 billion in Q3 2020 to $5.80 billion in Q3 2021 on a year-on-year basis. Marlboro is the world’s bestselling international cigarette and accounted for approximately 37% of the company’s total cigarette shipment volume in 2020. The next best widely renowned international cigarette brands are Parliament, Bond Street, Chesterfield, L&M, Lark, and Philip Morris. These all jointly contributed approximately 79% of the company’s cigarette shipment volume in 2020. Other tobacco products mainly contain roll-your-own and make-your-own cigarettes, pipe tobacco, cigars, and cigarillos.

Reduced Risk Products (RRPs)

Reduced Risk Products holds 28.66% of the company’s total revenue amounting to $2.33 billion. These are future-oriented products which were recently introduced by the company. The goal of RRPs is to replace cigarettes with a substitute that is less likely prone to risks. RRP or Smoke-free product portfolio includes heat-not-burn products, nicotine-containing vapor products, and oral nicotine products. The products included in this category are not completely risk-free but are built with an idea to reduce the health hazards caused to a person when he would otherwise continue to smoke. RRP products are designed in a way that when they are heated, instead of smoke, they produce aerosol which comprises far lower quantities of potentially harmful constituents than cigarette smoke. As per law, Heat-not-burn devices and e-vapor products are subject to standard product warranties generally for a period of 12 months from the date of purchase or such other periods.

About the Company

Philip Morris International Inc. is a holding company incorporated in Virginia in 1987. It is a leading multinational tobacco manufacturing company dealing with the manufacturing of cigarettes, as well as selling smoke-free products. It holds around 15% of the market share of cigarettes across the world, second only to China National Tobacco Corporation. The company sells cigarettes in more than 180 countries and has over 71,000 employees. Marlboro, its renowned cigarette brand, is the world’s most valuable tobacco brand. PMI’s portfolio comprises both international and local brands which in turn leads to a wide range of premium, mid-price, and low-price brands. Philip Morris International Inc.’s stock is listed under the ticker symbol PM on the New York Stock Exchange.

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