Key points:
1. New tobacco products (NTP) such as IQOS account for 40% of PMI's total sales, with a global user base of 38.6 million, including 32.2 million IQOS users.
2. Philip Morris International new tobacco products are sold in 95 countries, with the top five markets without combustion businesses contributing 60% of sales, thanks to the development of IQOS and Terea.
3. PMI aims to increase the proportion of its new tobacco business to more than two-thirds by 2030, with approximately $14 billion invested since 2008.
Data released by PMI South Korea branch in the fourth quarter of 2024 showed that the net sales of new tobacco products, such as IQOS, accounted for 40% of the company's total sales, N.News reported.
In the main markets operated by PMI, the top five markets for non-combustible products contributed 60% of the market's sales.
It is belived that this growth can be attributed to the rapid development of heated tobacco devices such as IQOS and its proprietary pod brand Terea. By the end of 2024, PMI's sales of new tobacco products had expanded to 95 countries.
The number of global users of PMI's new tobacco products increased by 5.3 million compared to the previous year, reaching 38.6 million. Among them, the number of IQOS users reached 32.2 million. It is estimated that 72% of users will completely switch from traditional cigarettes to IQOS.
Based on the growth trend, PMI plans to increase the net sales proportion of its new tobacco business to more than two-thirds of overall sales by 2030. Since 2008, PMI has continuously increased its investments in smokeless product development, scientific research, and commercialization. By the end of 2024, the cumulative investment amount has reached approximately $14 billion.
A representative of PMI Korea said:
"The continued growth of new tobacco products such as IQOS is accelerating the realization of a "smoke-free future" vision. We will strive to help adult smokers who wish to continue smoking switch to alternative products like IQOS as soon as possible through the latest and innovative IQOS Iluma i series."
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
