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

Alan Zhao: What the Rise of Nicotine Pouches Means for Tobacco Retailers
Alan Zhao: What the Rise of Nicotine Pouches Means for Tobacco Retailers
Alan Zhao argues that nicotine pouches are no longer a niche alternative, but a force quietly reshaping the future of tobacco retail. For distributors and retailers, the real risk is not missing a trend—it is moving too late, after regulation tightens, shelf space hardens and the market begins to choose its winners.
Mar.31 by Alan Zhao | 2Firsts Perspectives
Special Report | China’s Two Sessions Revisit Consumption Tax Reform, Tobacco Tax Outlook Draws Attention
Special Report | China’s Two Sessions Revisit Consumption Tax Reform, Tobacco Tax Outlook Draws Attention
China’s 2026 “Two Sessions” again raised the issue of consumption tax reform. As the largest source of consumption tax revenue, the tobacco tax system—its collection stages, tax structure and regional revenue distribution—has re-entered the policy discussion. This article outlines the structure of China’s tobacco consumption tax, past adjustments and key areas of debate, providing international readers with background on one of the country’s most important tax categories.
Special Report
Mar.08
Canadian Conservative MP’s Promotion of Zyn Draws Opposition From Local Nicotine Pouch Brand
Canadian Conservative MP’s Promotion of Zyn Draws Opposition From Local Nicotine Pouch Brand
Conservative MP Jamil Jivani’s public support for nicotine pouch brand Zyn has drawn attention on Canadian university campuses, but Imperial Tobacco, which makes the only similar Canadian product, Zonnic, said it does not support the promotion of an unauthorized competitor.
Mar.18 by 2FIRSTS.ai
Russian consumer group urges Kremlin administration to reject regional vape sales bans
Russian consumer group urges Kremlin administration to reject regional vape sales bans
A Russian consumer organization has urged the Presidential Administration to block proposals that would let regions ban ENDS and e-liquid sales, warning it would create fragmented regulation and turbocharge the illicit market. The group cites WHO statistics and overseas experiences to argue for a more targeted regulatory model.
Feb.06 by 2FIRSTS.ai
USITC Launches Section 337 Probe Into Disposable and Closed-System ENDS, Involving 16 Companies
USITC Launches Section 337 Probe Into Disposable and Closed-System ENDS, Involving 16 Companies
The U.S. International Trade Commission (USITC) voted to institute a Section 337 investigation into certain disposable and other closed-system electronic nicotine delivery systems (ENDS) devices and components thereof (Inv. No. 337-TA-1486). The investigation stems from a complaint filed on January 13, 2026 by R.J. Reynolds entities based in Winston-Salem, North Carolina, supplemented on February 3, 2026.
Mar.05 by 2FIRSTS.ai
Latvian Parliament Gives Initial Support to E-Cigarette Deposit Scheme Amendments
Latvian Parliament Gives Initial Support to E-Cigarette Deposit Scheme Amendments
On April 1, Latvia’s parliament gave conceptual support to amendments to the Waste Management Law that would introduce a deposit system for e-cigarettes in order to reduce pollution and environmental harm caused by these products.
Apr.03 by 2FIRSTS.ai