PMI's Acquisition of Swedish Match: Driving Growth in E-cigarette Market

BusinessPMI by 2FIRSTS.ai

Nov.21.2023

PMI's Acquisition of Swedish Match: Driving Growth in E-cigarette Market

Philip Morris International acquires Swedish Match for $1.6bn, signaling significant strategic importance in e-cigarette market development.

According to a report by Seeking Alpha, Philip Morris International (PMI) has acquired Swedish Match for $1.6 billion. This deal holds significant strategic importance for PMI's development in the e-cigarette market, particularly in advancing the IQOS and ZYN projects.

In addition, PMI announced its plan to increase the proportion of revenue from non-combustible products to two-thirds of total revenue in the coming years, reflecting the growing trend of adult smokers transitioning to non-combustible tobacco products.

PMI's IQOS product is facing a short-term challenge due to the recent implementation of a ban on heated tobacco products by the European Union on October 23, 2023, with the possibility of this ban being extended to other countries by 2024.

References:

[1] Philip Morris International: Prohibition On Flavored Heated Tobacco Products Poses Near-Term Risk

Also Read:

[1] Philip Morris Egypt Adjusts Prices of Tobacco Products

[2] PMI CEO Presents Sustainable Initiatives and Smoke-free Products Development

#PMI #E-cigarette #E-cigarettes and Tobacco #E-cigarette Market

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

South Korea’s Tobacco Law Amendment to Include Synthetic Nicotine, Projected to Add Up to $340 Million in Local Tax Revenue

Following the National Assembly’s approval of amendments to the Tobacco Business Act on September 22, redefining tobacco to include synthetic nicotine, the Korea Institute of Local Finance (KILF) estimates that local governments could gain between $37 million and $340 million in additional tax revenue in 2025 from tobacco consumption and local education taxes.

Nov.19 by 2FIRSTS.ai

Philip Morris Korea Launches New TEREA Packaging for IQOS ILUMA to Mark Third Anniversary

Philip Morris Korea has announced a new packaging design for TEREA, the dedicated tobacco stick brand for its heat-not-burn device IQOS ILUMA, to celebrate the third anniversary of its launch in South Korea. The newly designed products are now available at nine IQOS flagship stores and major convenience stores across the country.

Nov.13 by 2FIRSTS.ai

69% of Russians Support Full Ban on E-Cigarette Sales, SuperJob Survey Shows

According to Gazeta.Ru, a SuperJob poll found that 69% of Russians support President Vladimir Putin’s decision to fully ban vape sales in Russia. Only 7% oppose the ban, while 15% said they are indifferent and 9% were undecided.

Nov.10 by 2FIRSTS.ai

Hungary’s Continental Tobacco Launches New Slay Nicotine Pouch Brand in UK Targeting Female Consumers

Hungary’s Continental Tobacco Group has launched its Slay nicotine pouch brand in the UK, featuring compact, pastel-toned packaging and backed by a multi-million-pound investment and retail pilot programme to build its presence in the local market.