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.

 

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

UK PM Andy Burnham Reshapes Vape Retail Rules as Licensing Could Raise Barriers for New Shops
UK PM Andy Burnham Reshapes Vape Retail Rules as Licensing Could Raise Barriers for New Shops
UK Prime Minister Andy Burnham is pushing a high street reform agenda that could give local authorities greater powers over commercial activity, including vape retail. The reforms could involve expanded planning powers and a potential vape retail licensing system, allowing councils to play a larger role in store locations and market access. The measures are part of the UK’s broader shift toward tighter vape regulation, although no nationwide vape retail restrictions have yet been implemented.
Aug.11
Data|China’s January-May Vape Exports: U.S. Shipments Fall 13.8% as Japan Posts Fastest Growth
Data|China’s January-May Vape Exports: U.S. Shipments Fall 13.8% as Japan Posts Fastest Growth
According to China Customs export data analyzed by 2Firsts, the United States remained China’s largest destination for vape-related exports during January-May 2026 despite a 13.82% year-on-year decline in export value. Meanwhile, exports to Japan, Russia, Indonesia and the United Arab Emirates recorded strong growth, highlighting continued diversification across China’s export markets.
Special Report
Jun.29
Nasdaq-Listed Vape Company iSpire Technology Restructures Leadership as Tuanfang Liu Becomes Sole CEO, BTIG Initiates Coverage on ODM Growth Opportunity
Nasdaq-Listed Vape Company iSpire Technology Restructures Leadership as Tuanfang Liu Becomes Sole CEO, BTIG Initiates Coverage on ODM Growth Opportunity
Nasdaq-listed vape company iSpire Technology has restructured its leadership team, with Tuanfang Liu becoming the company’s sole chief executive officer (CEO) and Michael Wang appointed CEO of Aspire North America. The move ends iSpire’s previous co-CEO structure and creates clearer responsibilities between group strategy and regional execution. Separately, BTIG initiated coverage on iSpire Technology with a Buy rating and a $3.50 price target, identifying ODM growth opportunities as a key investment factor.
Jul.27
UK Vaping Products Duty to Raise £565 Million by 2030/31
UK Vaping Products Duty to Raise £565 Million by 2030/31
The UK will introduce Vaping Products Duty on all vaping liquids from October 1, 2026, with government revenue forecast to rise from £135 million in 2026/27 to £565 million by 2030/31.
Jun.18
Japan Health Ministry Cites Limited Evidence in Decision Not to Tighten Heated Tobacco Rules
Japan Health Ministry Cites Limited Evidence in Decision Not to Tighten Heated Tobacco Rules
Japan’s health ministry has proposed not tightening regulations on heated tobacco products to the same level as cigarettes as part of a review of passive smoking measures, with an expert panel broadly agreeing with the proposal, Jiji Press reported.
Jul.10
Product | IQOS ILUMA i REMIX Limited Edition Launches in Japan, Bringing New Design Elements to Heated Tobacco Devices
Product | IQOS ILUMA i REMIX Limited Edition Launches in Japan, Bringing New Design Elements to Heated Tobacco Devices
Philip Morris Japan (PM Japan) has introduced the IQOS ILUMA i REMIX Limited Edition series, including the IQOS ILUMA i Prime REMIX, IQOS ILUMA i REMIX and IQOS ILUMA i ONE REMIX devices. The limited-edition models were officially announced in Japan on June 9, 2026, and began a phased market rollout from June 10. Featuring gradient color designs and visual customization elements, the collection highlights PMI’s continued use of limited editions to enhance brand experience within its heated tobacco portfolio.
Innovation
Jul.21 by 2Firsts Perspectives