TRENDING
Altria: News
September 2026: Altria Breaks Ground on $250 Million Manufacturing Expansion in Hopkinsville, Kentucky Altria Group has officially broken ground on a $250 million expansion of its U.S. Smokeless Tobacco Company (USSTC) facility in Hopkinsville, Kentucky. The 270,000-square-foot project represents a strategic effort to optimize Altria’s traditional smokeless tobacco manufacturing footprint,
USA: Cigar Market
September 2026: STG Merges Cigar.com into Cigora in Major Direct-to-Consumer Consolidation Scandinavian Tobacco Group (STG) is streamlining its online direct-to-consumer retail footprint by transitioning long-running site cigar.com into cigora.com, effective September 28, 2026. Following the migration, the unified platform will operate under the brand name “CIGORA presented by Cigar.com.” When
ZYN USA
September 2026: PMI U.S. Boosts ZYN Can Size to 20 Pouches in Major Portfolio Expansion Philip Morris International’s U.S. division is increasing the pouch count in its core ZYN lineup, transitioning its flagship 3 mg and 6 mg dry pouch cans from 15 to 20 pouches per unit. Scheduled for
US FDA – Tobacco: News
September 2026: FDA Names Bret Koplow as Director of the Center for Tobacco Products The U.S. Department of Health and Human Services has officially appointed Bret Koplow, Ph.D., J.D., as Director of the Food and Drug Administration’s Center for Tobacco Products (CTP). Koplow, who previously served as the center’s Acting
USA: Vapes
September 2026: BAT Launches New Flavored Vuse Pods in U.S. Following Shift in FDA Enforcement Guidelines R.J. Reynolds Tobacco Company, the U.S. subsidiary of British American Tobacco (BAT), has initiated a phased U.S. rollout of new flavored Vuse Pro e-cigarette pods. The commercial move follows recent updates to the U.S.
Japan: Heated Tobacco Devices
September 2026: Japan Tobacco Redesigns Ploom CUBE Heated Tobacco Device Japan Tobacco (JT) announced the redesign of its Ploom CUBE heated tobacco device, introducing updated aesthetic options, fresh matte finishes, and a new lineup of customizable accessories. The revamped device features a tactile matte finish in two core colors, Pebble
Philip Morris International: News
September 2026: Philip Morris International Nudges Up 2026 Profit Outlook on Favorable Currency Winds Ahead of his presentation at the Barclays Global Consumer Conference, Philip Morris International (PMI) raised its full-year 2026 reported diluted earnings per share forecast, citing favorable foreign exchange rate movements as the sole driver behind the
India: Smokeless Tobacco Market
September 2026: India’s Tobacco Control Authority Recommends Rejection of Nicotine Pouch Manufacturing Licenses India’s National Tobacco Control Programme (NTCP) has recommended the rejection of applications for manufacturing and import licenses for oral nicotine pouches, reinforcing New Delhi’s firm policy stance against emerging recreational nicotine products. The recommendation by the health
China: Tobacco Market
September 2026: Beijing Taps Tobacco Monopoly for ¥260 Billion State Bank Capital Injection Beijing is mobilizing state-owned cigarette monopoly China National Tobacco Corporation alongside the Ministry of Finance to execute a combined ¥260 billion ($38.7 billion) capital injection into two of the nation’s largest state lenders. The move aims to
Tobacco Industry: Acquisitions
Since 1990s, the fall of the Iron Curtain in the East and the fast decline of cigarette market volumes in the West have triggered a series of acquisitions in the Tobacco Industry as the leading companies try to maintain the economies of scale and boost the top-/bottom-line growth. As a result,
Japan: Heated Tobacco Market
September 2026: Philip Morris International Opens First Global IQOS Flagship Store in Ginza, Tokyo Philip Morris International (PMI) has officially opened its first global IQOS flagship store in Tokyo’s premier Ginza shopping district. The new “IQOS Flagship Ginza” opened its doors on September 4, 2026, marking a major milestone for
Tobacco Lawsuits: USA
September 2026: U.S. Cities Sue Tobacco Companies over Cigarette Litter A growing wave of municipal legal actions across the United States is seeking to hold major tobacco companies financially responsible for the toxic environmental toll of cigarette butts. Local governments are asserting the “polluter pays” principle, demanding that manufacturers cover
Patents Wars: USA
Patent wars, long associated with the technology and software sectors, refer to legal battles between companies seeking to protect, challenge, or leverage intellectual property rights. The tobacco industry’s rapid transition toward reduced-risk products has triggered a similar wave of patent disputes in recent years, particularly since 2018, with no clear
Tobacco Industry Highlights: August 29 – September 4, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — PMTA: Premarket Tobacco Product Application The FDA has authorized the marketing of JUUL Labs’ next-generation JUUL2 e-cigarette device, equipped with a user-authentication system, alongside tobacco-
Tobacco Regulation: European Union
September 2026: EU Stalled on Nicotine Pouch Tax Debate as Clashing Blocs Block Compromise The European Union’s efforts to overhaul its Tobacco Taxation Directive remain mired in a bitter political stalemate, as member states clash over how to tax emerging non-combustible products like oral nicotine pouches. The European Commission’s proposed
Tobacco Regulation: Australia
September 2026: Australian Coalition Proposes 80% Tobacco Tax Cut to Smash Illicit Cigarette Market Australia’s federal Opposition Coalition has unveiled a policy to slash the national tobacco excise by 80%, proposing a dramatic tax cut designed to destroy the profit margins driving the country’s rampant illicit tobacco market. Under the
Tobacco: Investor Lawsuits
September 2026: British American Tobacco Faces Third UK Investor Claim Over Historical North Korea Disclosures British American Tobacco (BAT) is facing a third UK shareholder lawsuit in the High Court of England and Wales over allegations that it failed to adequately disclose its historical North Korean operations and associated sanctions
USA: Nicotine Pouches
September 2026: Nicotine Pouches Propel U.S. Smokeless Tobacco Sales to $13.5 Billion Total U.S. convenience store sales for the smokeless tobacco category surged 12.2% year-over-year to $13.5 billion over the 52-week period ending July 12, 2026. Category growth was solely driven by rapidly expanding consumer demand for spitless oral nicotine
USA: Tobacco Products
September 2026: U.S. Cigarette Pricing Gains Offset Volume Decline to Keep Retail Sales Flat at $50.8 Billion U.S. convenience store cigarette sales held steady at $50.8 billion over the 52 weeks ending July 12, 2026, as steady price growth balanced out continuing drops in unit consumption, according to the latest
USA: Tobacco Regulation – States
September 2026: New York Imposes 75% Wholesale Tax on Nicotine Pouches and Alternative Nicotine Products A major tax shift targeting alternative nicotine products went into effect across New York State on Tuesday, September 1, 2026, extending the state’s traditional tobacco tax structure to non-combustible, tobacco-free nicotine pouches and gums. Enacted
Japan: Nicotine pouches
September 2026: Japan Tobacco Expands Nordic Spirit Nicotine Pouch Portfolio Across Japan Japan Tobacco is expanding its smoke-free oral nicotine portfolio in Japan with the launch of three new Nordic Spirit refresh pouch variants beginning October 6, 2026, alongside a nationwide retail expansion for two existing flavors. The new offerings
ITC: News
September 2026: ITC Infotech and Happiest Minds Announce Merger to Create an AI-First Technology Services Enterprise ITC Infotech India Limited, a wholly owned subsidiary of tobacco-to-FMCG conglomerate ITC, and Happiest Minds Technologies Limited have signed definitive agreements to merge their operations in a transaction designed to create a scaled, AI-first
Tobacco Industry: Leaf
Main Trend: Global tobacco leaf markets were tight between mid-2022 and 2024, with limited supply driving higher leaf prices. At the same time, rising agricultural input costs further increased procurement expenses, inflating tobacco companies’ cost of goods sold (COGS) and putting pressure on gross profit margins. Since 2025, improved crop
Heated Tobacco: Products
September 2026: KT&G Will Launch ‘lil Tonino Lamborghini’ Featuring Ultra-Fast 3-Second Induction Heating Technology In a major technological leap for the heated tobacco category, KT&G announced today that it will launch its new flagship device platform, the lil Tonino Lamborghini, on September 15, 2026. The centerpiece of the announcement is
PMTA: Premarket Tobacco Product Application
August 2026: FDA Authorizes Marketing of Next-Generation JUUL2 E-Cigarette System The U.S. Food and Drug Administration (FDA) authorized the marketing of JUUL Labs Inc.’s next-generation e-cigarette system, the JUUL2, along with its tobacco- and menthol-flavored pods. The decision, delivered through the agency’s premarket tobacco product application (PMTA) pathway, approves three
Tobacco Industry Highlights: August 22 – August 28, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — USA: Tobacco Products U.S. adult nicotine use remained persistently elevated in 2025, with the market continuing to shift away from cigarettes toward vaping and nicotine
Illicit Trade – RRPs: International
August 2026: Illicit High-Nicotine Vapes Flood European Markets Amid Enforcement Gaps A parallel market for non-compliant e-cigarettes is rapidly expanding across Europe, granting consumers easy access to hyper-concentrated, massive-capacity disposable vapes. Recent investigations by public health advocacy groups reveal that illicit e-cigarettes vastly exceeding legal safety thresholds can be purchased
Patents Wars: International
Patent wars, long associated with the technology and software sectors, refer to legal battles between companies seeking to protect, challenge, or leverage intellectual property rights. The tobacco industry’s rapid transition toward reduced-risk products has triggered a similar wave of patent disputes in recent years, particularly since 2018, with no clear
Scandinavian Tobacco: Q2 2026 Results
Focus2030 Advances with Category Stabilization, Portfolio Rationalization, and Reaffirmed Guidance Scandinavian Tobacco Group (STG) published its financial results for the second quarter of 2026, demonstrating continued execution under its five-year strategic plan, Focus2030. Performance for the quarter was highlighted by top-line stabilization across core tobacco categories, solid organic growth in
KT&G: News
August 2026: Supreme Court Ends Patent Dispute Between KT&G and EM-Tech; KT&G Asserts ‘No Impact’ on Next Generation Products A multi-year intellectual property legal battle between KT&G and electronic device manufacturer EM-Tech over heated tobacco technologies has officially concluded. The Supreme Court of Korea dismissed the final appeals from both
Global Vape Market
August 2026: China’s Vape Exports Hit 2026 Peak at $1.047 Billion as U.S. Demand Surges China’s exports across vaping products reached $1.047 billion in July 2026, marking a 16.5% year-over-year increase and the highest monthly total of the year. According to China Customs data, the expansion was heavily concentrated in
Tobacco Industry Highlights: August 15 – August 21, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — Tobacco Lawsuits: USA In two major decisions, the Fifth Circuit Court of Appeals ruled against key aspects of federal tobacco and vape regulations. First, the
Tobacco Regulation: Russia
August 2026: Russia Imposes Up to Five Years in Prison for Smuggling Vapes Russia has officially tightened penalties on illicit cross-border trade, adding e-cigarettes, vaping liquids and nicotine salts to its official list of “strategically important goods.” Under the regulation taking effect August 20, 2026, individuals caught smuggling these products
Smoore: Financial Results – 2026
August 2026: Heated Tobacco Hyper-Growth and European ODM Expansion Power Record Smoore H1 2026 Revenue Smoore delivered strong operational performance during H1 2026, setting a record-high interim revenue of RMB 7,209 million, representing a year-on-year (YoY) increase of 19.9%. Growth was predominantly driven by the Corporate Client-Oriented (ToB) segment (+24.7%
Tobacco Lawsuits: International
August 2026: JUUL Labs and Altria Appeal B.C. Court Decision Certifying Mass Class Action JUUL Labs and Altria Group have launched a formal appeal against a British Columbia court decision that certified a nationwide class-action lawsuit accusing the companies of deceptively marketing vaping products to Canadian consumers. The companies filed
Tobacco Industry Highlights: August 8 – August 14, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — USA: Tobacco Products Traditional cigarette smoking in the U.S. has fallen to historic, all-time lows, signaling a major generational shift in substance consumption patterns. In
International: Illegal Cigarettes
August 2026: Nearly 60% of Cigarette Packs in Ireland Avoided Domestic Tax, Research Reveals A major research study tracking discarded cigarette packaging across Ireland has revealed that nearly six in ten cigarette packs consumed in the country avoided Irish tax, pointing to widespread tax avoidance and illegal smuggling. The Empty
British American Tobacco: News
August 2026: BAT Accelerates Digital Transformation with Expanded Multi-Year ITC Infotech Strategic Partnership British American Tobacco (BAT) has announced an expanded multi-year strategic technology agreement with ITC Infotech to accelerate the transformation of its global Information and Digital Technology operations. Building on a long-standing relationship, the expanded partnership will modernize
Haypp Group: Q2 2025 Results
Q2 2026: Record Net Sales & Peak Gross Margin During the second quarter of 2026, Haypp Group achieved its highest organic volume and sales growth since its 2021 initial public offering. Total net sales reached an all-time high post-IPO level of SEK 1,177 million (consensus: SEK 1.16 billion), marking a
USA: Cigarette Market
August 2026: U.S. Tobacco Prices Rise 6.7% Over Past 12 Months The price index for tobacco and smoking products increased 6.7% in the 12 months through July 2026, doubling the 3.4% rise in the overall Consumer Price Index (CPI). On a monthly basis, tobacco prices rose 0.5% in July 2026,
USA: Illegal Vapes
August 2026: Unauthorized Products Dominate U.S. E-Cigarette Retail Sales According to a newly published study, as of December 2025, 69.4% of e-cigarette product sales (in US$ terms) in the U.S. convenience and grocery channels were estimated to be unauthorized (4,421 products in total). The study analyzed point-of-sale retail scanner data
Tobacco Regulation: United Kingdom
August 2026: UK Government Outlines New Fixed Penalty Notices and Operational Guidance for Tobacco and Vaping Violations The UK Department of Health and Social Care (DHSC) has published detailed guidance on the rollout of Fixed Penalty Notices (FPNs) and related enforcement rules for offences related to tobacco, vaping, and nicotine
Imperial Brands: News
August 2026: Imperial Brands to Cut Thousands of Jobs in Major US and European Restructuring Imperial Brands is preparing to eliminate thousands of jobs across its operations in the United States and Europe, marking one of the company’s largest workforce reductions in recent years as it maneuvers to protect operating
Generational Tobacco Ban
Generational Tobacco Ban, or Lifetime Tobacco Ban, refers to banning cigarette or tobacco sales to anyone born after a certain date (at any point in their lifetime regardless of how old they are) to make smoking “a thing of the past”. Technically speaking, it could also be defined as steadily
Credit Ratings: BAT
August 2026: S&P Global Assigns ‘BBB-‘ Rating to BAT’s Perpetual Subordinated Hybrid Instruments S&P Global Ratings has assigned a ‘BBB-‘ long-term issue rating to British American Tobacco PLC’s proposed multi-tranche perpetual subordinated fixed-to-reset rate hybrid securities. The rating covers the hybrid segment of BAT’s multi-part capital market offering, which also
Tobacco Regulation: Europe
August 2026: One in Six Europeans Use Tobacco or Related Products Daily, Survey Shows 16.5% of people aged 16 and older across the European Union used tobacco and related products on a daily basis in 2025, according to Eurostat survey data. Representing roughly one in six EU residents, this figure
USA: Tobacco & Vape Tax
August 2026: South Carolina Introduces First Statewide Vape Tax Starting October 1, 2026 South Carolina will introduce its first statewide excise tax on vaping products and electronic cigarettes beginning October 1, 2026, following the passage of House Bill 4303 (Act 234). The new law brings e-liquids and disposable vape devices
Tobacco Industry Highlights: August 1 – August 7, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — Nicotine Pouches: International Markets Swedish manufacturer Another Snus Factory (ASF), jointly acquired by Altria Group and KT&G in 2025, has officially launched its flagship nicotine
KT&G: Q2 2026
Executive Summary KT&G Corporation delivered a profit-led Q2 2026 beat, characterized by double-digit operating profit expansion that outpaced top-line growth across all core operating divisions. Consolidated revenue grew 9.9% YoY to ₩1.7016 trillion (consensus: ₩1.67 trillion), while operating profit surged 18.5% YoY to ₩414.5 billion. Net income jumped 152.3% YoY
Turning Point Brands (TPB): Q2 2026 Results
Executive Summary Turning Point Brands (TPB) reported its financial results for the second quarter ended June 30, 2026, demonstrating continued top-line expansion fueled by hyper-growth in its Modern Oral segment (FRE and ALP). Total consolidated net sales increased 22.6% year-over-year to $142.96 million (consensus: $129.2 million). However, profitability contracted significantly
South Korea: Vapes
August 2026: S. Korea Faces Surge in ‘Nicotine-Free’ and Analogue Vapes Following Heavy Vape Tax South Korea’s vaping market is grappling with a rapidly growing loophole following a sweeping tax implementation that more than doubled retail prices for e-cigarettes. Consumers looking to bypass escalating costs are turning to products marketed
Nicotine Pouches: International Markets
August 2026: ASF Launches LOOP Nicotine Pouches in South Africa as Altria and KT&G Target Global Expansion Swedish manufacturer ASF (Another Snus Factory) has officially launched its flagship nicotine pouch brand, LOOP, in South Africa. The rollout marks a key milestone in expanding the brand’s footprint across the African continent,
Tobacco Industry Highlights: July 25 – July 31, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — ITC: Q1 FY27 Results ITC Limited’s standalone net profit fell 27.1% YoY in Q1 FY27 as severe cigarette excise tax hike compressed operating margins. Rather
ITC: Q1 FY27 Results
Executive Summary: Earnings Compression Driven by Cigarette Tax Adjustments ITC Limited’s Q1 FY2026/27 (Q1 FY27) financial results for the quarter ended June 30, 2026, present a narrative of dual operational realities. The company faced sharp profitability compression in its core Cigarettes business due to severe statutory tax hikes enacted earlier
Altria: Q2 2026 Results
Ahead of the Q2 2026 Earnings release Date: July 30, 2026 (Thursday), Before Market Open Consensus Estimates: $5.35 billion Revenue (+1.1% yoy); $1.50 EPS (+4.2% yoy) Guidance: Altria’s FY26 guidance targets an EPS range of $5.56 to $5.72, representing 2.5% to 5.5% growth over 2025 Notes: Following four consecutive years of net revenue
Japan Tobacco: Q2 2026 Results
Ahead of the Q2 2026 Earnings release Date: July 30, 2026 (Thursday), After Market Close Consensus Estimates: ¥986.2 billion Revenue (+8.7% yoy); ¥97.6 EPS (+6.6% yoy) Guidance: JT’s FY26 guidance targets +6.6% revenue (+3.6% core tobacco revenue at constant FX), +7.9% adjusted operating profit (+8.9% at constant FX) and +14.2% basic EPS growth
BAT: H1 2026 Results
Ahead of H1 2026 Earnings Release Release date: July 30, 2026 (before the opening bell) Revenue: £12.19 billion (+1.0% reported, +3.0% at constant currency) Adj. Profit from Operations (APFO): £5.24 billion (+1.4% reported, +3.7% at constant currency) EPS: £1.585 (+1.9% reported, +4.6% at constant currency) Latest guidance: Lower end of
UK: Vapes
July 2026: ‘Big Puff’ Vape Surge Undermines UK Ban, Driving Escalating Battery Fire Hazards Following the UK government’s mid-2025 ban on single-use disposable vapes, sales of high-capacity “big puff” devices have skyrocketed. Rather than curbing overall nicotine consumption, the policy has driven manufacturers to exploit regulatory loopholes, flooding the market
Godfrey Phillips: News
July 2026:Tax Hike Weighs on Godfrey Phillips as Q1 Profit Drops 44% Godfrey Phillips India Ltd, the manufacturer of Marlboro and Four Square in India, reported a 44.3% year-on-year decline in consolidated net profit for the first quarter of FY2026–27 (ended June 30), as the steep tax hike on tobacco
Philip Morris International: Manufacturing
Three key trends force tobacco companies to continuously re-assess and optimize their manufacturing footprint: (1) Cost savings: Transferring labor intensive operations to lower-cost countries within a certain geography (2) Geographical re-balancing: Fast-declining cigarette volume in the Western markets vs. Stable (even, increasing) cigarette volume in the emerging markets (especially, in
Tobacco Industry Highlights: July 18 – July 24, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — Southeast Asia: Tobacco Market Indonesia is preparing to enact a major regulatory overhaul of its tobacco market – including tar and nicotine caps, flavor bans,
ALP Nicotine Pouches
August 2026: ALP Launches “Frontier Collection” Nicotine Pouches ALP Supply Co. LLC has released a limited-edition product line called the “Frontier Collection,” available exclusively through the brand’s direct-to-consumer website. The collection introduces new 4 mg and 8 mg nicotine options – expanding the brand’s existing lineup across its 3 mg
Southeast Asia: Tobacco Market
Southeast Asia is one of the most populous geographical regions in the World with 675 million population. It is home to Indonesia, world’s largest cigarette market outside China. The Philippines, Malaysia, Vietnam and Thailand also rank within the Top-20 cigarette markets worldwide. Consequently, the Region is of great importance for
Beyond Nicotine: Japan Tobacco
July 2026: JT Expands Processed Food Operations and Business Development Pipeline Japan Tobacco (JT) is expanding its non-tobacco capabilities, positioning its processed food segment as a complementary growth driver alongside its core tobacco and reduced-risk product operations. JT’s processed food segment operates primarily through its subsidiary TableMark, alongside Fuji Foods
Heated Tobacco: Markets
July 2026: JT Drives Heated Tobacco Growth with ¥800 Billion Investment Plan Japan Tobacco Inc. (JT) is sharpening its focus on the next-generation tobacco category, committing ¥800 billion ($5.2 billion) to its heated tobacco business over the three-year period through 2028. The substantial capital allocation reflects a strategic drive to
Philip Morris International (PMI): Q2 2026 Results
Ahead of the Q2 2026 Earnings release Date: July 22, 2026 (Wednesday), before the bell Consensus: $10.6 billion revenue (+4.5% year-on-year); $2.03 EPS (+6.3% year-on-year) PMI FY26 Guidance: Net revenue growth of 5%-7% and adjusted diluted EPS growth of 10.2%-12.2%. For Q2 2026, the company expects EPS in the range of $1.97-$2.02 (midpoint:
Regulation: Cannabis – USA
July 2026: Over Half of Americans Now Live in States Where Recreational Cannabis Is Legal The legal landscape surrounding cannabis in the United States continues to evolve rapidly, transforming a once-uniform federal prohibition into a complex patchwork of state regulations. As legislative sessions and voter initiatives advance, a major demographic
Tobacco Industry Highlights: July 11 – July 17, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — Germany: Cigarette Market To plug a growing budget deficit, Germany is launching a steep tobacco tax hike that will see retail cigarette prices climb to
Australia: Nicotine Pouches
July 2026: New Australia Regulations Ban Personal Importation of Nicotine Pouches The Australian Government has established new regulations to restrict access to nicotine pouches, citing concerns over public health and the growing appeal of these products to younger demographics. Under the new rules, which take effect on July 24, 2026,
Australia: Cigarette Market
July 2026: Australian Smoking and Vaping Rates Decline to Historic Lows, AIHW Survey Shows Smoking and vaping rates in Australia have either declined or stabilised, according to the 2025 National Drug Strategy Household Survey released by the Australian Institute of Health and Welfare (AIHW). The data indicates that daily smoking
UK: Nicotine Pouches
July 2026: Republic Technologies Enters UK Nicotine Pouch Market with Zig Launch Republic Technologies is entering the UK nicotine pouch market with the launch of Zig, marking the company’s first move into the rapidly expanding tobacco-free nicotine category. The new range will be available from August, extending the company’s portfolio
Research: Nicotine Pouches
July 2026: Questions Raised Over ZYN Safety Review Following Former FDA Scientist’s Claims Questions have been raised over the safety review of Philip Morris International’s ZYN nicotine pouches after a former U.S. Food and Drug Administration (FDA) toxicologist alleged that the agency authorized the products without fully determining the composition
Germany: Cigarette Market
July 2026: Germany to Push Tobacco Tax Higher Than Planned in Bid to Plug Budget Deficit Facing a growing fiscal deficit, the German government is planning a substantial hike in tobacco taxes that goes significantly higher than initially projected. According to plans drafted by the Federal Ministry of Finance, the
Tobacco Industry Highlights: July 4 – July 10, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — Tobacco Regulation: United Kingdom The UK government and devolved administrations have launched a 12-week public consultation on stricter regulations for tobacco and vaping products to
Tobacco Regulation: Japan
July 2026: Japan Backs Off From Tighter Restrictions on Heated Tobacco Products Japan’s health ministry has decided to defer implementing stricter regulations on heated tobacco products (HTPs) for the time being. The decision comes as part of an ongoing review of the country’s secondhand smoke measures, originally enacted under the
Tobacco Industry Highlights: June 27 – July 3, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — KT&G: News Capital Group has increased its equity stake in KT&G from 7.2% to 8.2%, acquiring an additional 1.04 million shares. The growing institutional interest
VEEV Vapes
June 2026: Philip Morris International (PMI) Expands Vaping Portfolio with European Roll-Out of VEEV ONE PLUS Philip Morris International (PMI) is officially extending its closed-pod vaping lineup with the release of the VEEV ONE PLUS. Designed as a direct evolution of their core VEEV portfolio, the new device targets a
MRTP: Modified Risk Tobacco Product
June 2026: FDA Authorizes 20 ZYN Nicotine Pouches to Be Marketed with Specific Modified Risk Claim The U.S. Food and Drug Administration (FDA) has issued modified risk granted orders to Philip Morris International (PMI) for 20 ZYN nicotine pouch products. This decision allows these specific products – which have been
Tobacco Industry Highlights: June 20 – June 26, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — US FDA – Tobacco: News To crack down on illegal foreign vapes, the FDA has issued a proposed rule that closes a major loophole by
Smoking Cessation Products
June 2026: FDA Delays Approval of Achieve’s Cytisinicline Over Manufacturing Issues The U.S. Food and Drug Administration (FDA) has declined to approve Achieve Life Sciences’s smoking cessation drug cytisinicline, issuing a Complete Response Letter that cites unresolved issues at a third-party manufacturing facility and incomplete product labeling. Importantly, the agency
Tobacco Regulation: South Korea
June 2026: South Korea Reconsiders Cigarette Tax Hike as Public Support Grows South Korea is once again considering raising cigarette taxes after the Health & Welfare Minister said the government needs to review tobacco pricing as part of broader tobacco control efforts. While no formal proposal has been introduced, the
Tobacco Industry Highlights: June 13 – June 19, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — ZYN Ultra Philip Morris International (PMI) has officially introduced ZYN Ultra in the United States to combat recent market share erosion from rising competitors. Shifting
ZYN Ultra
ZYN Ultra: Higher Strength & Moist Slim Pouches Philip Morris International (PMI) has officially expanded its dominant ZYN nicotine pouch portfolio in the United States with the launch of ZYN Ultra. This new product variant marks a major structural shift for the brand, introducing an increased pouch count, an altered
Tobacco Industry Highlights: June 6 – June 12, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — Lifetime Tobacco Ban: USA New York lawmakers have introduced Assembly Bill A11509, which would permanently ban anyone born after December 31, 2007, from ever legally
Lifetime Tobacco Ban: USA
Generational Tobacco Ban, or Lifetime Tobacco Ban, refers to banning cigarette or tobacco sales to anyone born after a certain date (at any point in their lifetime regardless of how old they are) to make smoking “a thing of the past”. Technically speaking, it could also be defined as steadily
Tobacco Industry Highlights: May 30 – June 5, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — BAT: H1 2026 Trading Update British American Tobacco (BAT) has re-iterated its full-year guidance, expecting performance to land at the lower end of its medium-term
IQOS USA: Launch Tracker
In this article, we track the developments regarding the IQOS Launch in the USA. To stay up to date with every aspect of IQOS launch in the USA, make sure to visit our exclusive section: IQOS USA. The official US website of IQOS: www.iqos.com. June 2026: IQOS Launches America250 Limited
USA: Nicotine Pouch Tax
June 2026: New York enacts 75% wholesale tax on nicotine pouches The New York Governor signed a 75% wholesale tax on nicotine pouches into law. The measure differs from the state’s cigarette tax, which is set at $5.35 per pack. The state expects the tax to generate an additional $50
BAT: H1 2026 Trading Update
Ahead of the H1 2026 Trading Update release Date: June 2, 2026 (Tuesday), before the bell FY26 Consensus: At constant currency, 3.4% Revenue, 4.3% Adjusted profit from operations and 5.9% adjusted diluted EPS growth. 16.2% New Category revenue growth. BAT FY26 Guidance: Lower end of the medium-term guidance ranges – defined as 3-5%
Tobacco Pulse Surveys: Q2 2026
Every Sunday, we run a poll on the hottest subject in the Tobacco Industry. Hundreds of our Twitter/X followers vote, offering a collective wisdom on the subject matter or an immediate pulse on the market/industry developments. Results of the Sunday polls: May 31, 2026 What will you scrutinize first &
KT&G: Portfolio Strategy
KT&G: Global Expansion and Portfolio Diversification Drive Structural Revenue Shifts KT&G’s operational model relies on two primary revenue pillars: the traditional combustible cigarette brand ‘ESSE’ and the Next Generation Product (NGP) heated tobacco platform ‘lil’. While ESSE establishes a mature, highly cash-generative foundation across domestic and international markets, the NGP
Tobacco Industry Highlights: May 23- May 29, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — Generational Tobacco Ban Vietnam’s Ministry of Health has proposed a lifetime tobacco ban for anyone born on or after January 1, 2010, aiming to create
KT&G: Business Outlook
May 2026: Closing the Global Peer Discount via Operational Acceleration and Gold-Standard Capital Returns KT&G is undergoing a profound qualitative transformation, successfully transitioning from a historically undervalued domestic monopoly into a high-growth global consumer player. Driven by its three core growth engines – overseas tobacco, Next Generation Products (NGPs), and
Canada: Cigarette Market
May 2026: Canada’s Tobacco and Vaping Act Review Highlights Enforcement Gaps Amid Growing Illicit Market Canada’s third legislative review of the 2018 Tobacco and Vaping Products Act (TVPA) concluded that stronger compliance and enforcement measures are needed as illegal tobacco and vaping products continue to expand across the country. The
Tobacco Industry Highlights: May 16 – May 22, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — Beyond Nicotine: Philip Morris International Godfrey Phillips India (GPI) has entered a three-year agreement with Aspeya to distribute nicotine replacement therapy (NRT) products, marking a
Altria: Manufacturing
May 2026: Altria to Consolidate Smokeless and Nicotine Pouch Manufacturing in Kentucky Altria Group subsidiary U.S. Smokeless Tobacco Company (USSTC) has announced plans to modernize its manufacturing footprint by transitioning operations from its longstanding Nashville, Tennessee plant to a new 270,000-square-foot facility to be built on an existing campus in
ITC: FY26 Results
ITC Limited has demonstrated a resilient financial performance for the fourth quarter ended March 31, 2026 (Q4 FY26), and the full fiscal year (FY26). This performance was delivered against a backdrop of global logistical friction arising from the ongoing Iran conflict and a milestone restructuring of domestic cigarette taxation. On
Scandinavian Tobacco: Q1 2026 Results
Focus2030 Execution Begins Amid Online Competition and FX Headwinds Scandinavian Tobacco Group (STG) has released its financial results for the first quarter of 2026, marking the official operational kickoff of its new five-year strategy, Focus2030. While Q1 is traditionally the group’s weakest seasonal quarter due to inventory build-up, STG demonstrated
South Korea: Heated Tobacco Market
May 2026: Korea’s Heated Tobacco Market Heats Up as E-Cigarette Regulations Reshape Competition Competition in South Korea’s heated tobacco market is intensifying following the recent inclusion of synthetic nicotine e-cigarettes under tobacco regulations. Until recently, synthetic nicotine vaping products had benefited from lighter regulation and lower taxation, giving the category
Beyond Nicotine: Philip Morris International
May 2026: Godfrey Phillips India Enters 3-Year Distribution Agreement for NRT Products in Strategic Move Into Smokeless Category Godfrey Phillips India has entered a three-year distribution agreement with Aspeya India to market and distribute nicotine replacement therapy (NRT) products across India, using its established retail and distribution network. The partnership
UK: Heated Tobacco
May 2026: UK Tobacco Advertising Crackdown Forces PMI to Remove IQOS Promotions From Stores Philip Morris International (PMI) is removing in-store advertising for its IQOS heated tobacco products in the UK following the introduction of the Tobacco and Vapes Act, which tightens restrictions on tobacco promotion and closes regulatory loopholes
Tobacco Industry Highlights: May 9 – May 15, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — USA: Illegal Vapes In a massive joint enforcement action, U.S. authorities have seized over 18 million unauthorized e-cigarettes valued at more than $175 million. The
Credit Commentary: Tobacco Industry
May 2026: Most Tobacco Companies Receive Stronger Business Profile Assessments In a recent credit commentary, Fitch Ratings noted that most global tobacco companies received stronger business profile assessments following updates to its Corporate Rating Criteria. The revised criteria resulted in rating upgrades for British American Tobacco (BAT, A-/Stable) and Altria
PouchPoint.com
PouchPoint.com: Convenience & Reliability in the Fast‑Changing U.S. Nicotine Pouch Market The nicotine pouch category in the United States has grown from a niche curiosity into one of the most dynamic segments of the broader nicotine ecosystem. With more than US $5 billion in retail value, the U.S. now represents the world’s
Imperial Brands: H1 2026 Results
Ahead of the H1 2026 Earnings release Date: May 12, 2026 (Tuesday), before the bell Guidance – H1 2026: Low single-digit growth in tobacco & NGP net revenue in H1 2026, driven by robust pricing, low single-digit combustible volume decline and mid-to-high single-digit NGP net revenue growth. Adjusted operating profit to be
Disposable E-cigarette Ban
May 2026: Germany Plans Ban on Disposable Vapes Over Fire, Environmental and Youth Concerns German Environment Minister Carsten Schneider has announced plans to ban the sale of disposable e-cigarettes (single-use vapes), signaling upcoming legislation to be introduced later this year. The proposal is aimed at addressing environmental damage, fire risks,
USA: Federal Tobacco Regulation
May 2026: A Bipartisan Bill Seeks to Fund FDA Oversight of E-Cigarettes Through Manufacturer User Fees The Resources to Prevent Youth Vaping Act, a bipartisan piece of legislation, aims at strengthening the U.S. Food and Drug Administration’s (FDA) capacity to oversee the e-cigarette industry by requiring manufacturers of nicotine-containing vaping
Tobacco Industry Highlights: May 2 – May 8, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — PMTA: Premarket Tobacco Product Application The FDA has authorized four new pod-based e-cigarette products from Glas Inc., marking the first time the agency has cleared
Japan Tobacco: Q1 2026 Results
Japan Tobacco reported a strong start to FY2026, with broad-based growth across the tobacco business, continued pricing power in combustibles, accelerating reduced-risk product (RRP) momentum, and substantial earnings leverage aided by favorable foreign exchange movements. Management maintained its full-year outlook and emphasized that investments behind Ploom AURA and broader RRP
Turning Point Brands (TPB): Q1 2026 Results
TPB Q1 2026 Results: Modern Oral Drives Growth as Guidance Raised Turning Point Brands (TPB) reported strong top-line growth in Q1 2026, primarily driven by continued momentum in its Modern Oral (FRE & ALP nicotine pouches) business. TPB also raised its full-year 2026 Modern Oral sales guidance and introduced full-year
KT&G: Q1 2026 Results
KT&G posted strong first quarter results, with consolidated revenue rising 14.3% YoY to ₩1.70 trillion and operating profit increasing 27.6% YoY to ₩364.5 billion. Net income rose 46.6% YoY to ₩378.2 billion, while EBITDA increased 25.0% YoY to ₩442.7 billion, reflecting strong operational leverage and a significantly improved earnings mix.
Haypp Group: Q1 2025 Results
Haypp Group Q1 2026: Strong Nicotine Pouch Growth Drives Record Sales as Investments Pressure Margins Haypp Group reported a strong start to 2026, with Q1 net sales increasing 20% year-on-year to a record SEK 1.10bn, corresponding to 24% growth in constant currency terms. Growth was primarily driven by continued strength
Tobacco Regulation: Latin America
May 2026: Argentina Transitions from Prohibition to Regulation of Nicotine Alternatives Argentina has enacted Resolution 549/2026, establishing a comprehensive regulatory framework for vaping products, heated tobacco, and nicotine pouches – marking a clear shift away from its longstanding prohibitionist approach. The move reflects a more pragmatic policy stance, as authorities
Tobacco Industry Highlights: April 24 – May 1, 2026
Stay on top of the tobacco industry. Get weekly highlights straight to your inbox. Become a Free member today: Tobacco Insider – Free Membership — Altria: Q1 2026 Results Altria kicked off 2026 with a beat, reporting $4.76 billion in net revenue and $1.32 adjusted EPS – year-over-year gains of
Altria: Q1 2026 Results
Ahead of the Q1 2026 Earnings release Date: April 30, 2026 (Thursday), Before Market Open Consensus Estimates: $4.58 billion Revenue (+1.3% yoy); $1.246 EPS (+1.3% yoy) Guidance: Altria’s FY26 guidance targets an EPS range of $5.56 to $5.72, representing 2.5% to 5.5% growth over 2025 Notes: Following four consecutive years of net revenue
New Zealand: Cigarette Market
April 2026: New Zealand Cigarette Market Under Pressure as Illicit Trade and Vaping Weigh on Industry Performance British American Tobacco (BAT) and Imperial Brands have reported weaker financial results, highlighting mounting structural pressures on New Zealand’s legal tobacco market, including a rapidly expanding illicit trade, high excise taxes, and accelerating
Credit Ratings: Japan Tobacco
April 2026: S&P Downgrades Japan Tobacco to “A” on Geopolitical Risk Exposure, Maintains Stable Outlook S&P Global has lowered its long-term issuer credit rating on Japan Tobacco (JT) to “A” from “A+”, while affirming its short-term issuer credit rating at “A-1”. The stable outlook reflects the view that JT will
ZYN Shortage
April 2026: PMI Scales Back ZYN Production Schedule in Owensboro Amid Demand Normalization Philip Morris International (PMI) will reduce part of its ZYN nicotine pouch production schedule at its Swedish Match facility in Owensboro, Kentucky, shifting some operations from a continuous 24/7 model to a 24/5 schedule starting around July
Philip Morris International (PMI): Q1 2026 Results
Ahead of the Q1 2026 Earnings release Date: April 22, 2026 (Wednesday), before the bell Consensus: $9.88 billion revenue (+6.2% year-on-year); $1.83 EPS (+8.3% year-on-year) PMI FY26 Guidance: Net revenue growth of 5%-7% and adjusted diluted EPS growth of 11.1%-13.1%. For Q1 2026, the company expects EPS in the range of $1.80-$1.85 (midpoint:
Beyond Nicotine: BAT
April 2026: British American Tobacco Affiliate Holds 29.9% Stake in Organigram, With Path to 49% Organigram reported that its strategic investor, BT DE Investments, an affiliate of British American Tobacco (BAT), has updated its ownership position. As of April 2026, BAT owns 42.2 million common shares, representing 29.9% of the
Imperial Brands: Trading Update – H1 2026
Headline: “FY26 guidance reiterated, but quality of the print looks weak” Imperial Brands: H1 2026 Trading Update – Key Points – Guidance reaffirmed: FY26 outlook unchanged, with low-single-digit tobacco growth, double-digit NGP growth, 3–5% EBIT growth, at least high-single-digit EPS growth, and more than £2.2 billion FCF – H1 broadly
Credit Ratings: Turning Point Brands
April 2026: Fitch affirms Turning Point Brands’ IDR at “B+”. Outlook Stable Fitch Ratings has affirmed Turning Point Brands’ (TPB) Long-Term Issuer Default Rating (IDR) at “B+” and senior secured bonds at “BB-” with a Recovery Rating of “RR3”. The rating outlook is Stable. TPB’s ratings reflect its solid position
Tobacco Pulse Surveys: Q1 2026
Every Sunday, we run a quick poll on the hottest subject in the Tobacco Industry. Hundreds of our Twitter/X followers vote, offering a collective wisdom on the subject matter or an immediate pulse on the market/industry developments. Results of the Sunday polls: March 28, 2026 What is your small-cap tobacco
Imperial Brands: Manufacturing
Three key trends force tobacco companies to continuously re-assess and optimize their manufacturing footprint: (1) Cost savings: Transferring labor intensive operations to lower-cost countries within a certain geography (2) Geographical re-balancing: Fast-declining cigarette volume in the Western markets vs. Stable (even, increasing) cigarette volume in the emerging markets (especially, in
Credit Ratings: Philip Morris International
March 2026: Fitch Affirms Philip Morris International at “A”. Outlook Stable Fitch Ratings has affirmed Philip Morris International (PMI) Long-Term Issuer Default Rating (IDR) and senior unsecured long-term rating at “A”. The Outlook on the IDR is Stable. PMI’s “A” IDR is underpinned by its leading position in the global
ITC: Business Outlook
March 2026: ITC Faces Earnings Uncertainty as Tax Hikes and Margin Pressures Weigh on Outlook ITC Limited shares have declined to 30-month lows and are now trading below the ₹300 mark, roughly 40% below their all-time high near ₹500. The decline follows recent cigarette tax increases and concerns that price
On Plus (on! PLUS) Nicotine Pouches
March 2026: on! PLUS Expands Nationwide Retail Availability in the U.S. Altria announced the national retail expansion of on! PLUS nicotine pouches. on! PLUS is the first nicotine pouch product authorized through the U.S. Food and Drug Administration (FDA)’s pilot program designed to expedite the review of premarket tobacco product
Smoore: FY25 Results
Strong Revenue Rebound Masked by Margin Compression and Rising Costs Smoore International delivered a notable top-line recovery in FY2025, with revenue rising 20.8% year-on-year to RMB14.26 billion, marking a return to growth after several weaker years. This performance was primarily driven by the corporate client-oriented (“corporate”) segment, which grew 21.7%
lil
March 2026: KT&G’s Lil Able Surpasses 1 Million Devices as Heated Tobacco Business Approaches ₩1 Trillion KT&G’s heated tobacco device Lil Able has surpassed 1 million units in cumulative sales in South Korea, highlighting the strong growth of the company’s next-generation tobacco business. The device, first launched in November 2022,
Africa: Tobacco Market
March 2026: BAT Faces Rising Illicit Trade in African Markets British American Tobacco (BAT) reported a 12.5% year-on-year revenue decline in Kenya in 2025, as domestic market performance continued to be undermined by illicit trade. Illicit cigarettes now account for 45% of the Kenyan market, up from 37% in 2024,
USA: Youth Nicotine Use
Youth Nicotine Use at Historic Low in the U.S. Despite Rise of Disposable E-Cigarettes The landscape of youth nicotine use in the United States has reached a notable inflection point. According to data from the 2025 National Youth Tobacco Survey (NYTS), the overall prevalence of any tobacco or nicotine product
China Tobacco International: FY25 Results
China Tobacco International Reports Solid FY2025 Growth as Leaf Trading Drives Performance China Tobacco International (HK) Company Limited reported solid financial results for fiscal year 2025, supported by stronger tobacco leaf trading activity and improved profitability. The company, which serves as the international arm of China National Tobacco Corporation, plays
Tobacco & Nicotine Tax: USA – 2026
U.S. States Move to Expand Nicotine Excise Taxes in 2026 With the 2026 state legislative session in full swing, excise taxation on cigarettes, vaping products, nicotine pouches and other tobacco-related items has emerged as a central policy focus across the United States. Faced with persistent budget pressures and declining cigarette
Scandinavian Tobacco: FY25 Results
Scandinavian Tobacco Group Reports Weaker 2025 Results Amid Market Headwinds and Strategic Transition Scandinavian Tobacco Group (STG) reported weaker financial results for Q4 2025 and FY25, reflecting a combination of currency headwinds, weaker consumer sentiment in the United States, operational disruptions related to the rollout of a global ERP system,
Scandinavian Tobacco: Dividend
March 2026: Scandinavian Tobacco Group Reduces Annual Dividend to kr.4.50 Scandinavian Tobacco Group proposes an ordinary dividend of kr.4.50 per share for 2026, corresponding to a 42% payout ratio. Compared with the kr.8.50 dividend paid in 2025, this represents a 47% reduction and the lowest dividend since the company’s IPO.
Turning Point Brands (TPB): Results – 2025
March 2026: Turning Point Brands Accelerates Modern Oral Expansion, Steps Up Investment in 2026 Turning Point Brands (TPB) reported strong fourth quarter and full-year 2025 results, driven by rapid growth in its Modern Oral nicotine pouch portfolio, while signaling increased investment and near-term margin variability as it scales distribution and
New Zealand: Vapes
February 2026: New Zealand Approves First Quit‑Vaping Medicine as Youth Use Climbs New Zealand’s medicines regulator Medsafe approved the country’s first product specifically indicated to help people quit vaping, marking a milestone in clinical support for nicotine dependence. The product now recommended for this purpose is Nicorette QuickMist, a nicotine mouth
China: E-cigarette Market
February 2026: China Freezes Vape Factory Expansion Amid Mounting Overcapacity China’s tobacco regulator ordered e-cigarette manufacturers to halt the construction of new production facilities, signaling a decisive shift from rapid expansion to tighter industrial control. The directive reflects growing concern over excess capacity, intensifying price competition, and financial strain across the
BAT: FY25 Results
Release date: February 12, 2026; before the LSE opening Consensus ahead of the release: +1.9% revenue and 2.0% operating profit growth in FY25; Acceleration in financial delivery to +3.5% revenue and +4.0% operating profit growth in FY26 Latest guidance: c.2.0% revenue and c.2.0% operating profit growth in FY25; Lower end
Japan Tobacco: FY25 Results
Consolidated Results FY25 Revenue up +13.4% to ¥3,467.7 billion (+13.9% at constant FX); Adjusted operating profit up +21.5% to ¥902.2 billion (+24.9% at constant FX) Tobacco Segment: 91.8% weight in revenue, 100+% weight in adj. operating profit in FY25 Top-line & Bottom-line Results: Tobacco Segment Only Excluding Processed Food Segments;
Philip Morris International (PMI): FY25 Results
Ahead of the Q4 2025 & FY25 Earnings release Release date: February 6, 2026 (before the opening bell) Revenue: $10.38 billion expected (+6.9% vs. $9.71 billion in Q4 2024) EPS: $1.70 expected (+9.7% vs. $1.55 in Q4 2024) Latest guidance – FY25 EPS: $7.46 – $7.56 (including ¢10 favorable FX),
KT&G: FY25 Results
Q4 2025 & FY25 Results Revenue: ₩1.71Tn in Q4 (+10.1% year-on-year), ₩6.58Tn in FY25 (+11.4%) EBITDA: ₩325.8Bn in Q4 (+17.7%), ₩1.64Tn in FY25 (+14.1%) EBITDA Margin: 19% in Q4 (+1.2pp), 24.9% in FY25 (+0.5pp) Operating Profit: ₩248.8Bn in Q4 (+17.1%), ₩1.35Tn in FY25 (+13.5%) Net Income: ₩274.2Bn in Q4 (-15.3%),
Beyond Nicotine: Altria
January 2026: Altria Advances Non-Nicotine Expansion Strategy As part of its 2028 Enterprise Goals, Altria plans to expand into non-nicotine categories, targeting broad commercial distribution of at least five products by 2028. The company is continuing to test a range of concepts and products developed both internally and in partnership
Grizzly Tobacco: Pouches & Flavors
What are Grizzly pouches? Grizzly Tobacco, commonly misspelled as Grizzle Tobacco, is a popular brand of moist tobacco (dip) produced by the American Snuff Company, an operating company of British American Tobacco’s U.S. subsidiary of Reynolds American. 2.1 billion cans of moist smokeless tobacco were sold in the U.S. in
ITC: Q3 2026 Results
Key Business Metrics: Q3 2026 – New reporting structure: Standalone (core businesses) vs. Consolidated (including ITC Infotech India Limited, Surya Nepal Private Limited and ITC Hotels Limited) – bei: before exceptional items – Gross Revenue up +7.1%, driven by double-digit revenue growth in FMCG and sustained momentum in cigarettes business
Altria: FY25 Results
Ahead of Q4 2025 Earnings release Release date: January 29, 2026 (before the opening bell) Revenue: $5.03 billion expected (-1.5% vs. $5.106Bn in Q4 2024) EPS: $1.32 expected (+2.3% vs. $1.29 in Q4 2024) Latest guidance: FY25 EPS in a range of $5.37 to $5.45, representing a growth rate of
Europe: Cigarette Prices
January 2026: Tobacco Prices Increase Across Europe in 2026 In 2026, most European countries increase taxes on tobacco and an expanding range of nicotine products as part of public health strategies aimed at reducing use, preventing youth initiation, and addressing health inequalities. Nations including the UK, Germany, Austria, France, Italy
Scandinavian Tobacco: News
Background Scandinavian Tobacco Group (STG) became a pure-play cigar & pipe tobacco manufacturer, following the acquisition of its cigarette & snus business (“House of Prince”) by BAT in 2008. With operations mainly in Europe & the USA, STG owns well-known brands like Macanudo, La Gloria Cubana, Panter, Signature, La Paz, Café Crème, Cohiba, Partagas
British American Tobacco: Manufacturing
Three key trends force tobacco companies to continuously re-assess and optimize their manufacturing footprint: (1) Cost savings: Transferring labor intensive operations to lower-cost countries within a certain geography (2) Geographical re-balancing: Fast-declining cigarette volume in the Western markets vs. Stable (even, increasing) cigarette volume in the emerging markets (especially, in
USA: Tobacco Regulation in 2026
What to Watch in U.S. Tobacco Regulation in 2026: Key Developments for Industry and Policy As the tobacco and nicotine product landscape continues to evolve, 2026 promises to be a pivotal year for regulatory developments in the United States. Federal, state, and local actions are converging to reshape market access,
Credit Ratings: Imperial Brands
December 2025: Fitch Affirms Imperial Brands’ “BBB” Credit Rating. Outlook Stable Fitch Ratings affirmed Imperial Brands’s long-term issuer default rating (IDR) and senior unsecured instrument rating at “BBB”. The outlook on the IDR is Stable. The rating reflects Imperial’s concentration on the cash-generative, profitable yet mature combustible tobacco markets. Pricing
Geekbar: Shortage in the U.S.
December 2025: Illicit Vape Influx and Geek Bar’s Market Return – How U.S. Shutdown Dynamics Fueled a Surge Chinese export data reveal a dramatic rebound in vape shipments to the United States through October 2025, even as American customs and public health authorities were ostensibly cracking down on illicit products.
ZYN Lawsuits
December 2025: Florida Judge Lets Deceptive Trade Claim Stand in Zyn Lawsuit A federal judge in Florida refused to dismiss a deceptive business practices claim in a lawsuit against Philip Morris International (PMI) over its marketing of ZYN nicotine pouches, allowing that portion of the case to proceed. The plaintiffs
Velo Pouches
December 2025: VELO celebrates Formula 1 victory VELO owner-British American Tobacco (BAT) celebrates dual McLaren F1 win (both Constructors’ and Drivers’ Championships) with a VELO Special Champions’ Edition. Papaya refers to McLaren’s informal code of conduct, emphasizing racing hard but clean, avoiding contact, prioritizing the team, and ensuring fairness. McLaren
PMI – KT&G Partnership
December 2025: Philip Morris International – KT&G Partership Agreement is revised KT&G announced that it revised the key contractual terms related to its 15-year long-term partnership with Philip Morris International (PMI). The first 3-year period (2023-25) of the agreement, with a minimum guaranteed sales quantity of 16 billion sticks (for
BAT: FY25 Trading Update
Ahead of the FY25 Trading Update release Release date: December 9, 2025 (before the LSE opening bell) Consensus estimates: 2.1% revenue and 2.1% adj. operating profit growth in 2025; acceleration in financial delivery to 3.5% revenue and 4.7% adj. operating profit growth in 2026 British American Tobacco (BAT) repeatedly committed
New Zealand: Nicotine Pouches
December 2025: New Zealand Lawmakers Clash Over Plans to Introduce Oral Nicotine Products A contentious session took place in the parliamentary Health Select Committee in which the rollout of smokeless nicotine and tobacco products (like nicotine pouches or “snus”) became the centre of a heated debate. The government, via the
Japan Tobacco: News
December 2025: Japan Tobacco completes the transfer of its pharmaceutical business to Shionogi Japan Tobacco (JT) completed the transfer of its pharmaceutical business to the Japanese pharmaceutical firm, Shionogi via a simplified absorption-type company split – a process first announced in May 2025 and updated in September 2025. As part
Japan: Ploom Heated Tobacco
Ploom AURA Ploom AURA is the fourth-generation model of the Ploom heated tobacco platform and made its debut in Japan in May 2025. Ploom AURA is visually completely different from the previous model (Ploom X), adopting a slender form and a reduced weight of 75.5 grams (vs. c.95g for the
22nd Century Group: Interview
22nd Century Group is pioneering very low nicotine (VLN) cigarettes with the aim to give millions of smokers the choice to take control of their nicotine consumption. The Group’s flagship product, VLN cigarette, contains 95% less nicotine than traditional cigarettes and offers an authentic and familiar alternative in the form
Scandinavian Tobacco: 2025 Capital Markets Day
Scandinavian Tobacco Group opened its 2025 Capital Markets Day by situating the event within a decade-long corporate journey that began with the company’s listing on the Copenhagen Stock Exchange. Over that period, the group returned more than DKK 9 billion to shareholders through dividends and share buybacks and built a
Imperial: FY25 Results
– Tobacco & NGP Net revenue up +4.1% on a constant FX basis to £8.32 billion (vs. +3% exp.) – Adjusted Operating profit up +4.6% to £3.99 billion (vs. +4.3% exp.), Adjusting items: Amortisation and impairment of acquired intangibles (£369 million), discontinuation of Langenhagen operations (£101 million), 2030 Strategy implementation
South Korea: Heated Tobacco Promotions
November 2025: British American Tobacco will run a year-end promotion British American Tobacco (BAT) announced that it will run a year-end promotion for the glo Hyper heated tobacco devices. A special promotion will be offered online and offline for the first-time buyers until the end of the year and glo
Scandinavian Tobacco: FY25
Background Scandinavian Tobacco Group (STG) is the world’s 15th largest publicly traded tobacco company by market cap. STG became a pure-play cigar & pipe tobacco manufacturer, following the acquisition of its cigarette & snus business (“House of Prince”) by BAT in 2008. With operations mainly in Europe & the USA, STG owns well-known brands
KT&G: Q3 2025 Results
Q3 2025 Results “Double-digit revenue and operating profit growth, mainly driven by the international cigarette division”s Revenue: ₩1.83 trillion (+11.6% year-on-year) => record-high quarterly revenue, driven by international cigarette segment and higher real estate development income EBITDA: ₩540.5 billion (+12.3%); EBITDA Margin: 29.6% (+0.2pp) Operating Profit: ₩465.3 billion (+11.4%), driven
Haypp Group: Results – 2025
November 5, 2025: Q3 2025 Results1 LFL (like-for-like) adjustment: excluding the impact of the ZYN shortage, discontinuation of tobacco sales and state closures in the US – Net sales: up +15% kr.952.1 million in Q3 2025 (reported: +0.8%; in constant FX: +3%) – Drivers of net sales growth (+15%): nicotine
ITC: Q2 2026 Results
Key Business Metrics: Q2 2026 – New reporting structure: Standalone (core businesses) vs. Consolidated (including ITC Infotech India Limited, Surya Nepal Private Limited and ITC Hotels Limited) – Gross Revenue up +7.1%, excluding Agriculture business, driven by Cigarettes and FMCG – Overall EBITDA up +2.1% (ex-paper, up +3.2%); EBITDA margin
Altria: Q3 2025 Results
Ahead of Q3 2025 Earnings release Release date: October 30, 2025 (before the opening bell) Revenue: $5.29 billion expected (-1% vs. $5.344Bn in Q3 2024) EPS: $1.44 expected (+4.4% vs. $1.38 in Q3 2024) Latest guidance: FY25 adjusted diluted EPS in a range of $5.35 to $5.45, representing a growth
Japan Tobacco: Q3 2025 Results
Revenue: ¥947.2Bn (versus ¥901Bn expected) EPS: ¥109 (versus ¥92.9 expected) Starting from Q3 2025, the Pharmaceutical business is classified as discontinued operations Top-line & Bottom-line Results – Tobacco Segment Only (Excluding Pharmaceuticals and Processed Food Segments. Tobacco Segment has a 92.5% weight in revenue and 100+% weight in adjusted operating
Philip Morris International (PMI): Q3 2025 Results
Ahead of the Q3 2025 Earnings release Release date: October 21, 2025 (before the opening bell) Revenue: $10.64 billion expected (+7.4% vs. $9.91 billion in Q3 2024) EPS: $2.09 expected (+9.4% vs. $1.91 in Q3 2024) Latest guidance – Q3 2025 EPS: $2.08 to $2.13 (including ¢5 favorable FX) Q3
USA: Enforcement Againt Illegal Vapes
U.S. Vape Market Enters Institutionalized Enforcement Phase as Federal and State Efforts Escalate The United States is undergoing a regulatory transformation in its e-cigarette sector, shifting from episodic enforcement campaigns to a long-term, institutionalized enforcement framework. Over recent months, federal and state authorities have expanded their oversight of the supply
Imperial: FY25 Pre-close Trading Update
On track to deliver FY25 guidance. £1.45 billion share buyback in FY26, to completed no later than 28 October 2026 (+16% increase compared to £1.25 billion in FY25). FY25 Results to be announced on November 18, 2025 FY25 guidance stated in May 2025: Low-single digit tobacco & NGP net revenue
Dividend Changes – Tobacco Companies
September 2025: Philip Morris International increases its annual dividend by +8.9% Philip Morris International (PMI) increased the its regular quarterly dividend by 8.9% to an annualized rate of $5.88 per share. The new quarterly dividend of $1.47 per share, up from $1.35 per share, is payable on October 20, 2025,
Nicotine Pouch Market
September 2025: British American Tobacco launched new VELO Shift in Sweden British American Tobacco (BAT) launched the new VELO Shift in Sweden. VELO Shift nicotine pouches offer reshaped taste, design and comfort. VELO Shift comes in a hexagon pack design made from 90% bio-based plastic material. In addition, the pouches
KT&G: Q2 2025 Results
Q2 2025 Results “Solid financial delivery, driven by the international cigarette division” Revenue: ₩1.55 trillion (+8.7% year-on-year) => record-high first half revenue, surpassing ₩3 trillion for the first-time, driven by international cigarette segment and higher real estate development income EBITDA: ₩421 billion (+9.7%) EBITDA Margin: 27.2% (+0.3pp) Operating Profit: ₩349.8
Japan Tobacco: Q2 2025 Results
Top-line & Bottom-line Results – Tobacco Segment Only (Excluding Pharmaceuticals and Processed Food Segments. Tobacco Segment has a 90% weight in revenue and 100+% weight in adjusted operating companies income in Q2 2025. Adjusted figures, at constant currencies) Revenue: +15.6% in Q2 2025, driven by strong pricing/mix, the inclusion of
BAT: H1 2025 Results
Ahead of H1 2025 Earnings release Release date: July 31, 2025 (before the opening bell) Revenue: £12.0 billion (-2.7% reported, +1.2% at constant currency) EPS: £1.548 (-2.9% reported, +1.3% at constant currency) Latest guidance: 1%-2% revenue growth and 1.5%-2.5% adjusted operating profit growth at constant rates in FY25. Similar revenue
Altria: Q2 2025 Results
Ahead of Q2 2025 Earnings release Release date: July 30, 2025 (before the opening bell) Revenue: $5.19 billion expected (-1.7% vs. $5.28Bn in Q2 2024) EPS: $1.387 expected (+5.9% vs. $1.31 in Q2 2024) Latest guidance: FY25 adjusted diluted EPS in a range of $5.30 to $5.45, representing a growth
Philip Morris International (PMI): Q2 2025 Results
Ahead of the Q2 2025 Earnings release Release date: July 22, 2025 (before the opening bell) Revenue: $10.32 billion expected (+9% vs. $9.47 billion in Q2 2024) EPS: $1.86 expected (+17% vs. $1.59 in Q2 2024) Latest guidance – Q2 2025 EPS: $1.80 to $1.85 (including ¢6 favorable FX) Ahead
BAT: H1 2025 Trading Update
Ahead of the H1 2025 results (to be released on July 31, 2025), BAT provided an interim business update on June 3, 2025 (Tuesday). Key Highlights: – H1 2025 revenue slightly ahead of guidance: 1%-2% revenue growth and 1.5%-2.5% operating profit in FY25 – 2025 as a deployment year: H2
Nicotine Pouch Sizes & Shapes
Nicotine pouches have surged in popularity over the past few years, particularly in the United States and the United Kingdom. What was once a niche Scandinavian innovation has evolved into a mainstream alternative to smoking and vaping, embraced by a wide range of adult consumers. Marketed as a cleaner, spit-free,
Imperial Brands: H1 2025 Results
CEO Transition: Stefan Bomhard to be succeeded by Lukas Paravicini (CFO) as CEO on October 1, 2025. Lukas to be succeeded by Murray McGowan (Chief Strategy & Development Officer) as CFO Top-line & Bottom-line results Adjusted: at constant currencies – Volume: -3.2% (to 87Bn sticks), reflecting the wider industry decline
Japan Tobacco: Q1 2025 Results
Pharmaceutical business (including a 55% stake in Torii Pharmaceutical): Sold to Shionogi on May 7, 2025. For further details: Beyond Nicotine: Japan Tobacco Top-line & Bottom-line Results – Tobacco Segment Only (Excluding Pharmaceuticals and Processed Food Segments. Tobacco Segment has a 89% weight in revenue and 98% weight in adjusted
Altria: Q1 2025 Results
Top-line & Bottom-line Results Q1 2025 Revenue: $4.52Bn (exp. $4.62Bn; down -4.2% vs. $4.72Bn in Q1 2024) Q1 2025 EPS: $1.23 (exp. $1.19; up +6% vs. $1.16 in Q1 2024) FY25 Guidance: EPS in a range of $5.30 to $5.45, representing a growth rate of 2% to 5% from $5.19
Philip Morris International (PMI): Q1 2025 Results
Ahead of the Q1 2025 Earnings release Release date: April 23, 2025 (before the opening bell) Revenue: $9.14 billion expected (+4% vs. $8.79 billion in Q1 2024) EPS: $1.61 expected (+7.3% vs. $1.50 in Q1 2024) Latest guidance – EPS: $1.58 to $1.63 (including ¢4 adverse FX) Ahead of the
Future ZYN Flavors
ZYN has quickly become a breakout hit in the U.S. nicotine market, capturing the attention of adult consumers seeking smokeless, spit-free alternatives. With its discreet pouches, clean profile, and tobacco-free formulation, ZYN has surged in popularity – becoming not only a cultural phenomenon but also a top-selling nicotine product across
IQOS USA: Austin, Texas Test Market
In this article, we track the developments regarding the IQOS test market in Austin, Texas. To stay up to date with every aspect of IQOS launch in the USA, make sure to visit our exclusive section: IQOS USA. March 2025: Philip Morris International begins selling IQOS in Austin, Texas Philip
Imperial Brands: 2025 Capital Markets Day
Markets Day: 2030 Strategy to Drive Shareholder Returns Two core objectives: 1- Drive sustainable value in combustibles: Continue focus on top-5 markets (USA, Germany, UK, Spain and Australia) which represent c. 70% of adjusted tobacco operating profit. Aim to maintain aggregate market share across these five markets to drive sustainable
Scandinavian Tobacco Group: Interview – Part II
Based in Copenhagen, Denmark, Scandinavian Tobacco Group (STG) is a leading manufacturer of cigars and smoking tobacco. The Company is the market leader in handmade cigars in the US, in machine-rolled cigars in the US and Europe, and in pipe tobacco in Europe. As a first & foremost cigar company,
Velo Plus: USA
March 2025: VELO reached 10% share in the US, driven by the Velo Plus launch According to the latest NielsenIQ report (for the week ending February 22, 2025), 4-week rolling VELO volume grew +185.0% year-on-year basis in the USA to reach 7.9% national share. VELO’s implied share in the most
Swedish Match: From Matches to Market Disruption
The Humble Origins of a Swedish Giant The story of Swedish Match begins in the mid-19th century, rooted in a world that still relied heavily on matches for daily living. It was a time when the simple act of lighting a candle or stove was central to the home, and
All ZYN Flavors
ZYN offers a diverse range of nicotine pouch flavors tailored to consumers across the globe, with taste profiles ranging from icy mint to rich coffee and bold fruit blends. However, not all flavors are available in every market—availability varies due to regional consumer preferences, commercial strategies, and local regulatory restrictions.
Swedish ZYN
Swedish ZYN: The Smokeless Sensation from the Land of Innovation When we think of Sweden, a certain constellation of names spark instant recognition: IKEA, the global flat-pack furniture empire that taught us to love our allen keys; ABBA, the shimmering pop quartet whose disco anthems continue to fill dance floors