According to a report by the Manila Bulletin on December 12th, Philip Morris International (PMI) announced at its latest technology innovation summit that it plans to increase the revenue share of new tobacco products to 66% by 2030, up from the current 38%.
Stefano Volpetti, CEO and Chief Consumer Officer of PMI's smoke-free inhalable products category, stated in an interview with Filipino media that...
We aim to increase the revenue from new tobacco products to over 66% by 2030. Just five years ago, our non-smoking products accounted for only 12% of revenue, but has now increased to 38%.
Wolfgang Pfeifer revealed that currently in 25 countries, the revenue from smoke-free products has exceeded 50% of the total revenue, with some countries' percentage even exceeding 70%.
Frederic de Wilde, CEO of PMI South Asia and Southeast Asia, stated that the company holds a 45% market share in new tobacco products in emerging markets. The company's heated tobacco product IQOS holds a 75% market share globally, making it the top tobacco product in the world. Additionally, their oral nicotine brand holds a market share of 72% in the United States.
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