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There are three product categories (oral nicotine pouches, nicotine vapor, and heat-not-burn tobacco devices) British American Tobacco is investing in around the world, which has led to some explosive revenue growth for what it calls "New Categories." Since 2019, new categories revenue has grown at an annual rate of 33%, hitting over $4 billion in trailing twelve-month revenue through the first half of 2023
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In recent years, the prevalence of both active and passive smoking has been steadily increasing, particularly among individuals with poorer overall health (1921)
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