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

California DOJ Outlines Next Steps for Unflavored Tobacco List; Enforcement to Target “Obviously Flavored” Products

The California DOJ issued Information Bulletin No. 2025-DLE-17 on November 10, 2025, providing an update on the state’s flavored tobacco enforcement. The Attorney General’s office is set to launch the Unflavored Tobacco List (UTL) by December 31, 2025, identifying tobacco products without characterizing flavors that may legally be sold in California. Enforcement will continue to focus on “obviously flavored” products, while unregistered products remain subject to seizure and penalties.

Nov.17 by 2FIRSTS.ai

Singapore Police Dismantle Cross-Border E-Cigarette Smuggling Ring, Arrest 12 and Seize Over 64,000 Devices

Singapore authorities crack down on cross-border e-cigarette smuggling syndicate, arresting 12 individuals and seizing over $43,000 worth of contraband.

Oct.20 by 2FIRSTS.ai

Special Report | After the Shortage: How the U.S. Vape Market Is Rebuilding Itself

After a wave of regulatory crackdowns, the U.S. vaping market is undergoing a deep reshuffle — shortages sparked frenzy, and resupply triggered elimination. Through interviews with industry insiders from both China and the United States, 2Firsts reveals how the American market is rebuilding itself amid turbulence.

Nov.12

Product | VOZOL Launches Two SLEEK-Series Devices Compatible with Mesh and Ceramic Coils

VOZOL expands its SLEEK line with the SLEEK VISION e-cigarette, which uses the same series pods and supports both mesh and ceramic coils. SLEEK VISION features a boxier design with a 0.99-inch display for battery level and mode, and upgrades the battery to 900 mAh (vs. 600 mAh on SLEEK).