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22nd Century Group: News

October 2026: 22nd Century Group Reports 161% Same-Store Sales Growth for Pinnacle VLN and Pinnacle Pure in Q3 2026 22nd Century Group reported that combined

October 18, 2026

Tobacco Regulation: Latin America

October 2026: Guyana Bans Recreational Vaping Products, Restricting Imports Amid Public Health Concerns The government of Guyana has announced a ban on the importation and

October 18, 2026

Tobacco Regulation: Asia

October 2026: Mongolia Overhauls Tobacco Control Laws After 13 Years, Banning Flavored Products and Regulating Vapes Mongolia’s State Great Khural has officially approved sweeping amendments

October 18, 2026

Global Vape Market

October 2026: China Deepens Tax Overhaul, Eliminating VAT Rebates for E-Cigarette Exports In a progressive tightening of fiscal policies governing key manufacturing sectors, Chinese regulatory

October 16, 2026

Cannabis: USA

October 2026: Connecticut’s Cannabis Market Sees Falling Prices and Cooling Sales in 2026 Connecticut’s legal cannabis market is experiencing a notable shift as retail prices

October 15, 2026

Bangladesh: Tobacco Market

October 2026: Navigating Bangladesh’s Shifting Tobacco Market As one of the world’s top 10 cigarette markets by volume, Bangladesh occupies a central position in the

October 15, 2026

Sesh Pouches & Flavors

What are Sesh pouches? Sesh+ is a nicotine pouch brand launched in the U.S. in late-2021 by Sesh Products. Headquartered in Austin, Texas and founded

October 13, 2026

PMI: Q3 2026 Preview

Date: October 20, 2026 (Tuesday), before the bell Consensus: $11.31 billion revenue (+4.3% year-on-year); $2.30 EPS (+2.7% year-on-year) PMI FY26 Guidance: For FY26, PMI targets

October 12, 2026

Sri Lanka: Tobacco Market

October 2026: Surge in Illicit Trade and Alternative Products Strains Sri Lanka’s Legal Tobacco Market Shifts in Sri Lanka’s combustible tobacco market highlight an ongoing

October 12, 2026

South Africa: Tobacco Market

October 2026: BAT to Exit South African Manufacturing as Illicit Cigarettes Take 75% Market Share British American Tobacco (BAT) is bringing down the curtain on

October 10, 2026

South Korea: Heated Tobacco Sticks

October 2026: Japan Tobacco Expands Ploom Lineup in South Korea with Launch of EVO Slate Japan Tobacco (JT) has expanded its heated tobacco portfolio with

October 8, 2026

Tobacco Regulation: Europe

October 2026: Ireland Increases Excise Duty on Tobacco and E-Liquid Products The cost of smoking and vaping in Ireland is set to reach record highs

October 7, 2026

BAT: CMD 2026 – Our View

Executive Summary & Investment Thesis British American Tobacco’s 2026 Capital Markets Day (CMD) marks a definitive shift from defensive stabilization to disciplined operational execution. Supported

October 7, 2026

BAT: CMD 2026 – Regions

Executive Summary During the 2026 Capital Markets Day, BAT executives presented a comprehensive overview of recent operational developments, category performance, and the strategic growth outlook

October 6, 2026

Executive Summary British American Tobacco’s Horizon 2030 strategy centers on executing a multi-category portfolio transformation to achieve its corporate ambition of becoming a predominantly smokeless

October 5, 2026

USA: Cigar Market

October 2026: Higher Retail Prices Keep U.S. Convenience Store Cigar Revenue Flat at $4.11 Billion Total U.S. convenience store cigar sales remained virtually unchanged year-over-year

October 3, 2026

USA: Tobacco Regulation & Legislation

The regulatory landscape for tobacco in the United States is notably complex, involving multiple layers of authority that sometimes come into conflict. At the federal

October 3, 2026

US FDA – Tobacco: News

October 2026: GAO Urges FDA to Systematically Monitor Timeliness of Tobacco Product Application Reviews The U.S. Government Accountability Office (GAO) has issued a new report

October 2, 2026

British Cigarettes: “Fags”

October 2026: Imperial Brands Expands Paramount Range with Paramount Red Superkings Launch Imperial Brands has expanded its Paramount cigarette line in the UK with the

October 1, 2026

BAT: CMD 2026

At British American Tobacco’s (BAT) 2026 Capital Markets Day (CMD) in Winston-Salem, North Carolina, CEO Tadeu Marroco outlined the company’s long-term Horizon 2030 strategic blueprint.

September 30, 2026

South Korea: Cigarette Market

September 2026: South Korea Sees 30% Drop in Traditional Smoking as E-Cigarette Use Doubles Over a Decade As conventional cigarette smoking in South Korea drops

September 30, 2026

South Korea: Heated Tobacco Devices

September 2026: KT&G Launches Special-Edition ‘lil HYBRID 3.0 Misty Rose II’ Heated Tobacco Device KT&G announced the release of the “lil HYBRID 3.0 Misty Rose

September 30, 2026

Ispire Technology: News

September 2026: Ispire Technology Joint Venture Unveils IKE 2.0 to Drive Continuous Compliance Beyond the Point of Sale IKE Tech, a Joint Venture between Ispire

September 30, 2026

Tobacco Regulation: Australia

September 2026: TGA Classifies 6-Methylnicotine as a Schedule 9 Prohibited Substance to Close E-Cigarette Loophole Australia’s Therapeutic Goods Administration (TGA) has officially decided to list

September 26, 2026

Japan 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

September 24, 2026

France: Cigarette Market

September 2026: French Tobacco Market Faces Debate Over Minimum Tax Adjustments Amid Rising Parallel Sales As the French political landscape prepares for upcoming budgetary discussions

September 17, 2026

Strategic Realignment of U.S. ZYN Franchise

How should we interpret the latest U.S. ZYN developments – specifically the transition of ZYN Dry cans from 15 to 20 pouches and the launch

September 15, 2026

Tobacco Regulation: Russia

September 2026: Russia Rolls Out Mandatory Digital Tracking for Reusable Vapes and E-Cigarette Devices Russia has officially launched its mandatory digital tracking framework for reusable

September 15, 2026

Turkey: Cigarette Market

September 2026: Turkey Targets 2040 Total Tobacco Ban in Sweeping Anti-Smoking Legislation Turkey has drawn up draft legislation outlining a phased strategy to achieve a

September 13, 2026

Charlie’s Holdings: News

September 2026: Charlie’s Holdings Shifts Focus to Age-Gated Flavored Vapes Amid Improving US Regulatory Landscape Charlie’s Holdings announced a major strategic pivot toward launching America’s

September 11, 2026

BAT: Omni 2026 Edition

Executive Summary: The Strategic Transformation to a Smokeless World British American Tobacco (BAT)’s 2026 Omni report provides its most comprehensive assessment yet of the company’s

September 10, 2026

Imperial Brands: 2026 Barclays Global Consumer Conference

Imperial Brands CEO Lukas Paravicini reaffirmed full-year guidance at the Barclays Global Consumer Staples Conference, projecting a fourth consecutive year of positive net revenue growth,

September 10, 2026

Japan: Heated Tobacco Sticks

September 2026: Japan Tobacco Expands Ploom Lineup with EVO Cacao Mint Crystal and Mevius Tropical Option Japan Tobacco (JT) announced two additions to its Ploom

September 9, 2026

PMI: 2026 Barclays Global Consumer Conference

At the Barclays Global Consumer Conference 2026, Philip Morris International CEO Jacek Olczak reaffirmed the execution strength of the company’s multi-year growth algorithm, pairing an

September 8, 2026

Philippines: Nicotine Pouches

September 2026: DTI Requires Safety Certification for Nicotine Pouches in the Philippines The Department of Trade and Industry (DTI) has established mandatory product certification for

September 6, 2026

JUUL: Authorization of JUUL2 System

What are the key regulatory, market and strategic implications of the FDA’s marketing authorization of the JUUL2 e-cigarette system? The Short Answer: The FDA’s authorization

August 31, 2026

Soluble Nicotine Products

August 2026: Soluble Nicotine Products Emerge as the Next Billion-Dollar Oral Nicotine Opportunity A new category of nicotine products is emerging alongside the rapid expansion

August 29, 2026

Synthetic Nicotine Derivatives

Synthetic Nicotine Derivatives Synthetic nicotine is a manufactured form of nicotine, produced in a laboratory, as opposed to being extracted from tobacco leaves. Synthetic nicotine (tobacco-free

August 29, 2026

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

August 28, 2026

GSTHR: Status Report – 2026

Introduction We are sharing the Global State of Tobacco Harm Reduction (GSTHR) 2026 Situation Report with our subscribers as it contains a wealth of useful

August 27, 2026

Cannabis: Canada

August 2026: Canadian Legal Cannabis Retail Reaches Record CA$517.8 Million in June Canada’s legal adult-use cannabis sector has reached a landmark milestone. Newly released retail

August 27, 2026

Ukraine: Cigarette & Vape Market

August 2026: Over 93% of E-cigarettes in Ukraine Fail Legal Compliance, Study Reveals More than 93% of e-cigarettes on the Ukrainian market do not comply

August 26, 2026

Philippines: Tobacco Market

August 2026: Value of Seized Illegal Cigarettes and Vapes Reaches ₱11.7 Billion in 2026 The estimated value of illegal tobacco and e-cigarette products confiscated by

August 26, 2026

USA: Cigarette Prices

How much is a pack of cigarettes in the USA? The price of a 20-cigarette pack varies significantly across U.S. states and localities due to

August 26, 2026

VUSE (BAT) vs. VEEV (PMI): Deconstructing the E-Vapor Growth Divergence

Why Philip Morris International (PMI) is growing much faster than British American Tobacco (BAT) in the e-vapor category? Is VEEV a much better product than

August 25, 2026

China Tobacco International: News

August 2026: China Tobacco International (HK) Reports H1 2026 Revenue Decline Amid Import Headwinds as Export Growth Sustains Earnings China Tobacco International (HK) Company Limited

August 24, 2026

ESSE

August 2026: KT&G’s Esse Brand Surpasses ₩2 Trillion in Sales on Strong Overseas Demand Annual sales for KT&G’s ultra-slim cigarette brand, Esse, surpassed ₩2 trillion

August 24, 2026

Haypp Group: News

August 2026: Haypp Group Secures SEK 400 Million Credit Facility with Danske Bank Haypp Group has entered into a SEK 400 million revolving credit facility

August 24, 2026

AIR Global: H1 2026 Results

AIR H1 2026 Results: Resilient Core Growth Amid Geopolitical Disruption AIR Global (NASDAQ: AIIR), the global leader in Flavored Shisha Molasses (FSM) and an innovator

August 20, 2026

Japan: Tobacco Market

August 2026: JT to Release 80th-Anniversary Packaging for Peace Cigarettes Japan Tobacco (JT) announced it will release limited-edition packaging across four products in its Peace

August 19, 2026

Philippines: Vapes

August 2026: Lawmakers and Advocates Push Uniform Vape Excise Taxes to Recover Revenue Losses and Curb Illicit Trade Philippine lawmakers, health advocates, and industry representatives

August 18, 2026

RLX Technology: Results – 2026

August 14, 2026: RLX Q2 2026 Results RLX Technology reported a resilient second quarter for 2026, headlined by 14.8% YoY net revenue growth to RMB

August 15, 2026

Credit Ratings: KT&G

August 2026: S&P Global Ratings Re-affirms KT&G’s Credit Rating at “A-” with Outlook Stable S&P Global Ratings has reaffirmed its A- long-term issuer credit rating

August 11, 2026

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

August 8, 2026

Memo: BAT – HY26 Results

Results summary: BAT: H1 2026 Results H1 2026 Financial Results & Earnings Quality British American Tobacco’s H1 2026 results landed fully in line with our

August 3, 2026

Memo: Altria Q2 2026 Results

Results summary: Altria: Q2 2026 Results Executive Summary Altria’s Q2 2026 results were broadly in line with our operational expectations at the top-line and operating income

July 31, 2026

Tobacco: ESG

July 2026: TerraCycle Launches Nationwide Nicotine Vape Device Recycling Service in the U.S. TerraCycle has launched a nationwide recycling service for used nicotine vape devices

July 30, 2026

AIR: Advanced Inhalation Rituals

July 2026: AIR Strengthens Partnership with Greentank Innovations Through $20 Million Equity Investment AIR Global has announced a US$20 million strategic equity investment in Canadian

July 30, 2026

Research: E-cigarettes

July 2026: Synthetic Cooling Agents in E-Cigarettes Actively Enhance Nicotine Reinforcement and Dopamine Signaling A recently published study is challenging a foundational assumption in the

July 23, 2026

Memo: PMI Q2 2026 Results

Results summary: Philip Morris International (PMI): Q2 2026 Results Philip Morris International (PMI) delivered a solid “double beat” in Q2 2026, consistent with the directional expectations

July 22, 2026

IQOS ILUMA

July 2026: PMI Unveils Limited-Edition IQOS ILUMA i REMIX Device Philip Morris International (PMI) has introduced the IQOS ILUMA i REMIX Limited Edition, a special

July 22, 2026

BAT: HY26 Result – Preview

Earnings Preview: H1 2026 Results Metadata Details Release Date July 30, 2026 (Before LSE Market Open) Current Share Price £46.6 Implied Valuation 13.2x FY26 EPS

July 21, 2026

Global Tobacco Control

July 2026: Industry Watchdog Highlights Common Legislative Issues for Heated Tobacco Products The Campaign for Tobacco-Free Kids, a tobacco industry watchdog, has published a guidance

July 18, 2026

Altria: Q2 2026 Preview

Release Date: July 30, 2026 (Before Market Open) Consensus Estimates: Net Revenue: $5.36 Billion (+1.3% YoY) | Adjusted EPS: $1.50 (+4.2% YoY) Our Projections: Net

July 16, 2026

JUUL: News

July 2026: Delaware Judge Allows Second Lawsuit Challenging JUUL Rescue Deal to Proceed JUUL Labs will face a second shareholder lawsuit challenging the rescue financing

July 15, 2026

PMI: FDA MRTP Authorization for ZYN Products

What will be the actual commercial and regulatory impact of the FDA’s recent Modified Risk Tobacco Product (MRTP) authorization on ZYN’s performance in the hyper-competitive

July 8, 2026

PMI: Q2 2026 Preview

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: For FY26, PMI targets

July 7, 2026

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

July 2, 2026

ZYN Ultra vs. ZYN

ZYN vs. ZYN Ultra: The Ultimate Comparison Guide to Nicotine Pouches in the U.S. The U.S. smoke-free nicotine market is evolving rapidly, and Philip Morris

July 1, 2026

Velo Pouches: International Markets

June 2026: VELO Standardizes Nicotine Strength Spectrum to Simplify Product Selection Nicotine pouch brand VELO has outlined a standardized nicotine strength classification system designed to

June 20, 2026

Haypp Group Commentary – June 2026

In our Haypp: Investor Presentations – May 2026 note, we outlined what we view as the key bull case & secular tailwinds and bear case

June 17, 2026

UK: Cigar Market

June 2026: The Structural Shift in the UK Cigar Market: The Rise of the Cigarillo Segment The UK cigar category accounts for more than £350

June 17, 2026

UK: Cigarette Market

June 2026: Legislative Restructuring and Economic Bifurcation in the UK Tobacco Market The UK tobacco sector is entering a period of significant structural and regulatory

June 17, 2026

Imperial Brands: 2026 dbAccess

Imperial Brands CEO Lukas Paravicini and CFO Murray McGowan addressed investors at the 2026 dbAccess Global Consumer Conference. Marking Paravicini’s eighth month at the helm,

June 3, 2026

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.

June 3, 2026

Memo: BAT HY26 Trading Update

Trading Update Summary: BAT: H1 2026 Trading Update Key Takeaways from the Webcast: BAT HY26 Trading Update Webcast: Key Takeaways Executive Summary BAT’s HY26 trading

June 2, 2026

PMI: 2026 dbAccess Global Consumer Conference

Philip Morris International (PMI) CEO Jacek Olczak addressed the dbAccess Global Consumer Conference, delivering a highly confident update on the company’s multi-category smoke-free transformation. While

June 2, 2026

BAT HY26 Trading Update Webcast: Key Takeaways

Trading Update Summary: BAT: H1 2026 Trading Update British American Tobacco (BAT) hosted its H1 2026 pre-close conference call, featuring prepared remarks by CEO Tadeu

June 2, 2026

The Evolving Economics and Demographics of American Cannabis

The Evolving Economics and Demographics of American Cannabis: A Market Analysis From a niche counterculture product to a multi-billion-dollar commercial engine, the American cannabis landscape

May 28, 2026

IQOS USA: Regulation & Taxation

May 2026: South Carolina Raises Tax on Heated Tobacco Products South Carolina has approved a significant increase in the state excise tax on heated tobacco

May 23, 2026

Haypp: Investor Presentations – May 2026

Haypp Group’s management team presented at both the ABGSC Investor Days and the Goldman Sachs Global Staples Forum in May 2026, utilizing the same core

May 22, 2026

Cannabis: International Markets

[For the developments in the USA and Canada, refer to Cannabis: USA and Cannabis: Canada] May 2026: Global Cannabis Prices Fall Sharply as Oversupply Intensifies

May 22, 2026

BAT: HY26 Pre-close Trading Update – Preview

Release Date: June 2, 2026 (Before LSE Market Open) Current Share Price: £49 (13.7x FY26 EPS Estimate) Consensus Alignment: Consensus estimates foresee 3.4% revenue growth,

May 20, 2026

Memo: Imperial Brands H1 2026 Results

Results summary: Imperial Brands: H1 2026 Results Imperial Brands H1 2026 results reinforced the central debate surrounding the investment case: can the company continue delivering

May 12, 2026

Memo: Altria Q1 2026 Results

Results summary: Altria: Q1 2026 Results Altria – Q1 2026 Earnings Review: Analyzing the Quality of the “Double Beat” Consistent with our Altria: Q1 2026 Preview

April 30, 2026

TPB: Business Outlook

Where does Turning Point Brands fit in the equation in pouches? What new innovations are they working on? How do you view their other businesses?

April 23, 2026

Memo: PMI Q1 2026 Results

Results summary: Philip Morris International (PMI): Q1 2026 Results Philip Morris International (PMI) delivered a “double beat” in Q1 2026, consistent with our PMI: Q1 2026

April 22, 2026

Taxation: E-cigarettes

E-cigarette is invented two decades ago in China and became available in Europe and the US as early as 2006/2007. Following years of turbulent growth,

April 22, 2026

Altria: Q1 2026 Preview

Date: April 30, 2026 (Thursday), Before Market Open Consensus Estimates: $4.58 billion Revenue (+1.3% yoy); $1.247 EPS (+1.4% yoy) After four consecutive years of net

April 21, 2026

Pakistan: Tobacco Market

April 2026: Pakistan Tops Global Illicit Cigarette Market Pakistan has emerged as the world’s largest illicit cigarette market, with illegal products accounting for 55% of

April 19, 2026

PMI: Q1 2026 Preview

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

April 13, 2026

FRE Pouches & Flavors

What are FRE pouches? FRE is a nicotine pouch brand that was introduced in the U.S. market in 2019. FRE nicotine pouches are manufactured by Nu-X

April 11, 2026

Zone Pouches & Flavors

What are Zone pouches? Zone is a nicotine pouch brand launched in the U.S. in February 2024. Zone nicotine pouches are manufactured by TJP Labs

April 4, 2026

E-cigarette Market

March 2026: Vaping Use Surges in Thailand Despite Longstanding Ban E-cigarette use in Thailand has increased sharply despite the country maintaining a strict ban on

March 27, 2026

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

March 24, 2026

UK: Roll-Your-Own Tobacco

The UK is one of the biggest and most profitable tobacco markets in the world with close to £30 billion (US$38 billion) annual retail turnover.

March 23, 2026

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,

March 5, 2026

Zonnic: Canada

March 2026: Alberta Urges Federal Government to Ease Nicotine Pouch Restrictions Amid Black Market Concerns Alberta’s provincial government has formally urged Canada’s federal authorities to

March 3, 2026

Canada: Vapes

February 2026: Diverging Alcohol and Nicotine Trends Among Young Canadian Adults Young Canadian adults are consuming less alcohol than older generations, while reporting comparatively higher

February 28, 2026

South-East Europe: Cigarette Market

South-East Europe: Albania, Bosnia & Herzegovina, Bulgaria, Croatia, Greece, Kosovo, Montenegro, North Macedonia, Romania and Serbia February 2026: Factory Closures Turn Bosnia’s Tobacco Sector into

February 23, 2026

Credit Ratings: Altria

February 2026: Fitch Upgrades Altria to BBB+ Fitch Ratings upgraded Altria’s Long-Term Issuer Default Rating (IDR) to “BBB+” from “BBB” and Short-Term IDR to “F1” from

February 14, 2026

South Korea: Nicotine Pouches

February 2026: South Korea’s Nicotine Pouch Challenge Despite the rapid global growth of nicotine pouches – driven by brands such as ZYN from Philip Morris International

February 13, 2026

Haypp Group: FY25 Results

– Net sales: up +15% to kr.1,052.2 million (+19% cc) in Q4 2025 and up 5% kr.3,848.9 million (+7% cc) in FY25. First-time above kr.1

February 13, 2026

Memo: BAT – FY25 Results

Results summary: BAT: FY25 Results BAT FY25 revenue and profit from operations are fully in line with our expectations. See BAT: FY25 Results – Preview for

February 12, 2026

Copenhagen Pouches

Copenhagen Pouches are a tin of moist smokeless tobacco, commonly known as dipping tobacco in the United States, in pouch format. Copenhagen is a prominent

February 11, 2026

Egypt: Tobacco Market

February 2026: Philip Morris Egypt raises cigarette prices by E£5-7 Philip Morris Egypt announced new prices for its portfolio of traditional cigarettes and heated tobacco products

February 11, 2026

Geek Bar Vapes & Flavors

Geek Bar Vapes: A Comprehensive Look at Its Rise, Popularity, Controversies, and Future Geek Bar is a vape brand, mostly recognized for its disposable vapes

February 10, 2026

BAT: FY25 Results – Preview

Date: February 12, 2026 (Thursday), before the bell FY25 Consensus: £25.6Bn revenue (+1.9% yoy); 11.29Bn profit from operations (+2.0% yoy); £3.38 EPS (+1.6% yoy) FY25 Guidance: Revenue and

February 2, 2026

Russia: Cigarette Market

January 2026: Russia to Begin Extra-Judicial Blocking of Online Tobacco Sales Sites Russian authorities will start blocking websites that sell tobacco and nicotine-containing products without

January 30, 2026

PMI: Q4 2025 Preview

Date: February 6, 2026 (Friday), before the bell Consensus: $10.38 billion revenue (+6.9% year-on-year); $1.70 EPS (+9.7% year-on-year) Topline Guidance: Net revenue growth of 6%

January 28, 2026

Cannabis: Taxation – USA

January 2026: Cannabis Sales Tax Hike Takes Effect In Maine Sales taxes on the purchase of adult-use cannabis products increased from 10% to 14% in

January 12, 2026

Tobacco Regulation: China

January 2026: China to End VAT Export Rebates on E-Cigarette Products from April 2026 China will cancel value-added tax (VAT) export rebates on e-cigarette products

January 9, 2026

Karelia Tobacco

Karelia Tobacco Company is Greece’s largest cigarette manufacturer & exporter and one of the largest independent tobacco companies in the world (i.e. not belonging to

January 6, 2026

Cannabis: Market Outlook – USA

U.S. Cannabis Industry at a Crossroads: Policy Shifts, Market Pressures and Strategic Trends Heading Into 2026 The U.S. cannabis industry experienced a year of extraordinary

January 3, 2026

BAT: Impact from Excise Tax Hike

Considering the recent excise tax hike on tobacco products in India, do you believe ITC’s dividend could be at risk in 2026, and, as a

January 2, 2026

Italy: Cigarette Market

December 2025: Italy’s 2026 Tobacco Tax Hike – What to Expect Starting on January 1, 2026, the Italian Government will implement a significant increase in

December 31, 2025

Philippines: Heated Tobacco

December 2025: Philip Morris opens IQOS Flagship Boutique in Makati, Manila PMFTC, the Philippine affiliate of Philip Morris International (PMI), opened its latest IQOS Boutique in

December 30, 2025

Spain: Cigarette Market

December 2025: Japan Tobacco is the new cigarette market leader in Spain Japan Tobacco (JT), the maker of Camel and Winston, snatches the cigarette market

December 30, 2025

Tobacco Pulse Surveys: Q4 2025

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

December 29, 2025

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

December 13, 2025

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

December 12, 2025

Tobacco Industry: Valuation Multiples

What are the key variables you use to assess valuation multiples in the tobacco/nicotine industry? The short answer: Discount rate, Earnings growth, Cycles & Idiosyncrasies Just

December 11, 2025

BAT: FY25 Pre-Close Update

Results summary: BAT: FY25 Trading Update In the BAT: FY26 Growth Algorithm write-up, based on our modelling, we noted our expectation for BAT to deliver 3%

December 9, 2025

Pakistan: Tobacco Market

December 2025: Philip Morris begins the local production of ZYN nicotine pouches Philip Morris International (PMI) began the production of ZYN nicotine pouches at its

December 5, 2025

BAT: FY26 Growth Algorithm

Since Tadeu Marroco took over the CEO position in May 2023, British American Tobacco (BAT) repeatedly committed to return to 3-5% revenue and mid-single digit

November 24, 2025

BAT: FY25 Pre-Close Update – Preview

Date: December 9, 2025 (Tuesday), before the bell FY25 Consensus: £25.54Bn revenue (+2.1% yoy); 11.28Bn profit from operations (+2.1% yoy); £3.372 EPS (+2.3% yoy) Guidance: Revenue growth at

November 20, 2025

Memo: Imperial Brands FY25 Results

Update summary: Imperial: FY25 Results Imperial Brands delivered better-than-expected FY25 results – mainly, driven by lower-than expected shipment volume decline. FY25 volume decline of -1.7%

November 18, 2025

BAT: Recent Outperformance

What is your take on the recent share price outperformance of British American Tobacco (BAT) against Philip Morris International (PMI) and Altria? The short answer: Positive

November 14, 2025

Cigarette Tax: International

Below is the list the most recent tobacco tax changes across the world. Note that there is a separate write-up on e-cigarette taxation. November 2025:

November 7, 2025

Vape Ban

Governments around the world have responded to the rapid commercial growth of electronic nicotine delivery systems (ENDS, commonly “vapes” or “e-cigarettes”) with a wide range

November 3, 2025

Australia: Vapes

October 2025: TGA issues a warning to online delivery service providers not to breach the laws regarding the supply and advertising of vaping products The

October 31, 2025

BAT: Implications of ITC Q2 2026 Results

How much would ITC’s results have an impact on BAT given their stake in the company? The short answer: We believe ITC results have no

October 31, 2025

BAT: Implications of PMI Q3 2025 Results

What does PMI’s Q3 2025 results imply for BAT, specifically in the nicotine pouch and heated tobacco categories? The short answer: Limited financial implication for

October 22, 2025

Tobacco: Youth Access Prevention

October 2025: British American Tobacco and Channel Islands Coop will roll out Yoti facial age estimation in stores to combat youth access British American Tobacco

October 20, 2025

Smoore: News

October 2025: Q3 2025 Results1 Smoore’s quarterly revenue increased +27.2% year-on-year (+27.5% sequentially) to ¥4,196.8 million in Q3 2025 – setting a new record high

October 13, 2025

Memo: Imperial Brands FY25 Update

Update summary: Imperial: FY25 Pre-close Trading Update Imperial Brands stated that they are on track to deliver the FY25 guidance: low-single digit tobacco & NGP

October 7, 2025

PMI: Q3 2025 Preview

Date: October 21, 2025 (Tuesday), before the bell Consensus: $10.65Bn revenue (+7.5% year-on-year); $2.096 EPS (+9.7% year-on-year) Guidance: $2.08 to $2.13 (including ¢5 favorable FX)

October 6, 2025

Research: Tobacco Products

October 2025: 70% of Policy Experts Misidentify Nicotine as Primary Cause of Smoking-related Diseases Based to a multi-market survey of 450 policy experts conducted across

October 6, 2025

ZYN & People

October 2025: RFK Jr popping a nicotine pouch behind Trump’s back U.S. Secretary of Health and Human Services (HHS), Robert F. Kennedy Jr. (RFK Jr) appeared

October 1, 2025

Tobacco Pulse Surveys: Q3 2025

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

September 29, 2025

Altria: Nicotine Pouches – International Expansion

Could the recently announced of Global Collaboration Agreement with KT&G clear the way for Altria to build a substantial nicotine pouch presence in the international

September 28, 2025

BAT: Interim Update

How is BAT performing heading into the end of Q3 2025? The short answer: Positive incremental progress on key issues. Likely to re-affirm the FY25

September 27, 2025

BAT: VELO Shift

Do you already have a read on the VELO Shift launch in Sweden? Is there any indication that it is in the FDA approval pipeline

September 25, 2025

BAT Shares Under Pressure

What might be causing the selloff in British American Tobacco (BAT) shares, considering the other tobacco majors have been flattish? Triggering event: Sudden departure of

September 24, 2025

PMI: IQOS USA

When will Philip Morris International launch IQOS ILUMA in the U.S.? The simple answer: Presumably, first launch mid-2026. Nationwide availability only in 2028. Philip Morris

September 23, 2025

Altria: on! pouch portfolio

Can Altria improve its competitiveness in the nicotine pouch category? The short answer: Yes, Altria can significantly improve its competitiveness in the nicotine pouch category,

September 23, 2025

PMI: ZYN Pricing

Can Philip Morris International sustain ZYN pricing premium in the U.S.? The simple answer: ZYN can sustain its premium pricing to some extent, but not

September 23, 2025

Credit Ratings: Universal Corporation

September 2025: Fitch affirmed Universal Corporation’s BBB- issuer rating. Outlook Negative Fitch Ratings affirmed all ratings for Universal Corporation, including the company’s Long-Term Issuer Default

September 13, 2025

How much are Zyns?

$5.64. That is how much the Manufacturer’s Suggested Retail Price (MSRP) is for a can of ZYN in the USA. $5.64. That is how much the

September 12, 2025

NJOY Vapes

NJOY is founded in 2007 as one of the first vape companies in the U.S. and had a turbulent ride before becoming a wholly owned

September 11, 2025

ZYN

In the rapidly evolving landscape of nicotine consumption, ZYN has emerged as a transformative force, offering a smokeless, spit-free alternative to traditional tobacco products. These

September 3, 2025

ZYN Flavors

ZYN’s arrival in the United States marked a turning point in the nicotine pouch market, transforming what was once a niche product into a mainstream

September 3, 2025

Tobacco Companies: Dividend Yield

Methodology Coverage: Publicly traded tobacco companies with regular dividend payments Ranking: Top-15 companies in terms of dividend yield based on the latest communicated dividend payout

August 31, 2025

Canadian Tobacco Lawsuit & Settlement

August 2025: Imperial Tobacco Canada exits bankruptcy protection British American Tobacco (BAT)’s Canadian affiliate, Imperial Tobacco Canada (ITCAN) formally exited protection under the Companies’ Creditors

August 31, 2025

RLX Technology: Results – 2025

August 22, 2025: Q2 2025 Results Net revenue: up +40.3% to ¥880.0 million (US$122.8 million), up +8.9% on sequential basis Gross margin: up +2.3pp to

August 22, 2025

China Tobacco International

August 2025: H1 2025 Results1 China Tobacco International (CTI) reported both revenue growth and improved profitability in H1 2025 despite margin pressure in certain segments.

August 22, 2025

iSenzia

iSenzia is a flavored heatstick with no tobacco marketed by Imperial Brands for exclusive use with Pulze tobacco heating devices. Imperial Brands first introduced iSenzia

August 20, 2025

Cigarette Pack Size: How Many Cigarettes Are in a Pack?

How many cigarettes in a pack? Cigarette packaging varies globally, with pack sizes influenced by regional regulations, consumer preferences, and marketing strategies. Understanding these variations

August 12, 2025

Largest Tobacco Companies: Market Cap

Methodology Publicly traded companies outside China. Fully or predominantly tobacco/nicotine business. Publicly traded affiliates of PMI and BAT (i.e. majority stake ownership) are excluded. Publicly

August 9, 2025

ITC: Q1 2026 Results

Key Business Metrics: Q1 2026 – New reporting structure: Standalone (core businesses) vs. Consolidated (including ITC Infotech India Limited, Surya Nepal Private Limited and ITC

August 3, 2025

New Zealand: Heated Tobacco

July 2025: Heated tobacco product tax cut is extended by two years The tax break for heated tobacco products is extended for two years in

July 30, 2025

USA: Cigarette Prices by State

How much is a pack of cigarettes in the USA? Price of a 20-cigarette pack vary significantly in the USA across the states and even

July 7, 2025

Elf Bar

Elf Bar Vapes: A Comprehensive Look at Its Rise, Popularity, Controversies, and Future Elf Bar is a Chinese brand of electronic cigarettes produced by iMiracle

July 2, 2025

Tobacco Companies: Total Shareholder Return (TSR) – H1 2025

Methodology Six largest publicly traded tobacco companies (i.e. close to 95% of the total market capitalization of all publicly traded tobacco & nicotine companies). Total

July 1, 2025

Pipe Tobacco

June 2025: Global pipe tobacco sales, outside China, reached $7.5 billion in 2024 In 2024, global pipe tobacco sales, outside China, reached 128,000 tons –

July 1, 2025

Little Cigars

June 2025: Global little cigar sales dropped 4% in 2024, outside China Little cigar sales, outside China, dropped 3.9% to 18.4 billion sticks in 2024.

July 1, 2025

Tobacco Pulse Surveys: Q2 2025

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

June 30, 2025

Cannabis: Companies

June 2025: Cannabis vape products provider Papa Medical sets terms for $5 million IPO Papa Medical, which sells branded cannabis vape devices primarily in North

June 28, 2025

Regulation: Cannabis – International

[For the regulatory developments in the USA, refer to Regulation: Cannabis – USA] June 2025: Thailand moves to recriminalize cannabis Thai Government moves to recriminalize

June 27, 2025

International Cigar Market

June 2025: The Dominican Republic remains the world’s top exporter of premium cigars The Dominican Republic remains the world’s top exporter of premium cigars, producing

June 26, 2025

Oettinger Davidoff: News

June 2025: Oettinger Davidoff reports CHF 541.7 million revenue in 2024 Following the record results in 2023 and 2022, Oettinger Davidoff’s sales turnover grew +0.9%

June 21, 2025

Nicotine Poisoning

Nicotine is a naturally occurring alkaloid found primarily in tobacco leaves and is the main psychoactive chemical in tobacco products. While widely known for its

June 10, 2025

Cigarette Market

June 2025: 5.1 trillion cigarettes were sold in the world in 2024 In 2024, global sales volume of legal cigarettes reached 5.1 trillion sticks –

June 5, 2025

ITC: Q4 2025 & FY25 Results

Key Business Metrics: Q4 2025 & FY25 – Q4 2025: Gross Revenue up +9.2% and Operating Profit up +2.5% (ex-Paper, up +4.2%) – FY25: Gross

May 22, 2025

Are Zyns Bad for You?

Zyn, a brand of nicotine pouch developed by Swedish Match and now owned by Philip Morris International, has gained immense popularity in recent years, especially

May 9, 2025

KT&G: Q1 2025 Results

Q1 2025 Results “Solid financial delivery, driven solely by the international cigarette division. Problems persist elsewhere ” Revenue: ₩1.49 trillion (+15.4% year-on-year) => record-high quarterly

May 8, 2025

Share Buybacks: Imperial Brands

May 2025: Imperial Brands initiates the second buyback tranche of up to £625 million Following the completion of the first £625 million tranche of the current share repurchase

May 1, 2025

Philip Morris vs. Philip Morris

Philip Morris Company: Philip Morris was a real person – a British tobacconist and entrepreneur – who founded what would eventually become the largest publicly-traded

April 15, 2025

ZYN Nicotine Pouches: Upper Lip vs. Lower Lip

In recent years, nicotine pouches – particularly the market leader, ZYN – have rapidly carved out a new niche in the U.S. nicotine landscape. With

April 9, 2025

VUSE Vapes: USA

VUSE is an American brand of vape products launched in the U.S. in June 2013 by the R.J. Reynolds Vapor Company, an operating company of

April 6, 2025

Haypp Group: Capital Markets Day 2025

Date: April 3, 2025 Haypp Group established new Financial Targets for 2028: – 18%-25% annual revenue growth (lower in 2025 due to the ZYN supply

April 3, 2025

Vape Phone Case

The Humo Case sits at a weirdly fascinating intersection of gadget culture and nicotine tech: a protective iPhone shell with a full-blown disposable vape built

April 2, 2025

IQOS USA: Questions and Answers

In this article, we answer the most frequently asked questions (FAQs) about the IQOS Launch in the USA. What is IQOS? IQOS is a tobacco

April 1, 2025

Beyond Nicotine

In addition to transformation to Reduced-Risk Products (Next Generation Products, Smokefree products), major tobacco companies are increasingly exploring growth opportunities in adjacent business areas that

April 1, 2025

Tobacco Companies: Total Shareholder Return (TSR) – Q1 2025

Methodology Six largest publicly traded tobacco companies (i.e. close to 95% of the total market capitalization of all publicly traded tobacco & nicotine companies). Total

April 1, 2025

Tobacco Pulse Surveys: Q1 2025

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

March 31, 2025

Scandinavian Tobacco Group: Interview – Part I

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

March 20, 2025

NJOY Vapes

NJOY is founded in 2007 as one of the first vape companies in the U.S. and had a turbulent ride before becoming a wholly owned

March 19, 2025

Marlboro: Canada

The Marlboro Brand Paradox in Canada: A Trademark Tug-of-War Marlboro, the world’s most known cigarette brand, is globally synonymous with Philip Morris Company. Its red

March 17, 2025

Tobacco: Questions and Answers

What is a cigarette? Cigarette is a tube-shaped tobacco product that is made of finely cut, cured tobacco leaves wrapped in thin paper. It may

March 16, 2025

Raz Vape

Raz Vape, a subsidiary of Geek Bar, became a prominent brand in the US vape market for its high-performance disposable vape devices with a diverse range

March 11, 2025

Haypp Group: Interview – Part II

The Haypp Group spearheads the global transformation from smoking to smoke-free alternatives. With origins in Scandinavia, Haypp Group is at the intersection of two mega

March 7, 2025

Scandinavian Tobacco: FY24

Background Scandinavian Tobacco Group (STG) is the world’s 11th largest publicly traded tobacco company by revenue. STG became a pure-play cigar & pipe tobacco manufacturer, following

March 6, 2025

Haypp Group: Interview – Part I

The Haypp Group spearheads the global transformation from smoking to smoke-free alternatives. With origins in Scandinavia, Haypp Group is at the intersection of two mega

March 6, 2025

Cigarette

Cigarette: a slender roll of cut tobacco enclosed in paper and meant to be smoked Less commonly spelled as cigaret, especially among older generations in the

March 5, 2025

Camel Snus

Camel Snus is a smokeless, spit-free tobacco product marketed in the U.S. by Reynolds American, a wholly-owned subsidary of British American Tobacco (BAT). Packaged in

March 4, 2025

Reynolds

Reynolds Reinvented: 150 Years of Tobacco, Transformation, and Corporate Reinvention R.J. Reynolds Tobacco Company’s story is at once quintessentially American and quietly emblematic of the

March 1, 2025

Rogue Pouches & Flavors

What are Rogue pouches? Rogue is an all-American, 100% tobacco leaf-free and sugar-free nicotine pouch brand that was introduced in the U.S. market in 2018. Rogue

February 25, 2025

Juice Head Pouches & Flavors

What are Juice Head pouches? Juice Head is a nicotine pouch brand launched in the U.S. in late-2022 by Streamline Vape, known for its Juice

February 23, 2025

USA: ZYN Pouches

February 2025: ZYN is now the largest new nicotine brand in the USA From humble beginnings in Colorado in 2014, ZYN pouches became the best-selling

February 20, 2025

Who Owns Zyn?

Philip Morris International (PMI; ticker: PM) owns ZYN. However, Swedish Match launched ZYN in the USA, not PMI. Swedish Match, together with all its subsidiaries

February 16, 2025

Caffeine Pouches: Rise of Pocket-Sized Energy Among Gamers

Gaming and caffeine have always had a strong relationship. Whether it’s slamming energy drinks during a late-night raid or sipping cold brew while grinding ranked

February 15, 2025

Caffeine Pouches: Questions and Answers

Are caffeine pouches legal? Caffeine pouches are legal in the U.S. Moreover, caffeine is not an age-restricted substance; unlike nicotine, caffeine is not subjected to

February 14, 2025

Japan Tobacco: FY24 Results

Tobacco Segment: 88% weight in revenue, 100+% weight in adj. operating profit in FY24 Top-line & Bottom-line Results – Tobacco Segment Only Excluding Pharmaceuticals and

February 13, 2025

Haypp Group: FY24 Results

– Adjustment factor (LFL): ZYN sales and sales to closed states (e.g. California) in the US1 – Net sales: up +23% SEK915.2 million in Q4

February 13, 2025

BAT: FY24 Results

Release date: February 13, 2025; before the LSE opening Consensus ahead of the release: +0.9% revenue and +1.3% operating profit growth in FY24; acceleration in

February 12, 2025

Hyde Vapes

Hyde, or commonly known as Hyde Bar, is a vape brand that gained significant popularity in the United States, particularly among younger users. Hyde was

February 11, 2025

Velo Plus Flavors

What is Velo Plus? Velo Plus is a new line of nicotine pouches launched in the USA by Reynolds American – the second largest tobacco

February 9, 2025

Nicotine gum

Nicotine gum is an over-the-counter nicotine replacement therapy (NRT) product designed to help smokers quit by gradually reducing their nicotine dependence. It provides a controlled

February 8, 2025

KT&G: FY24 Results

Q4 2024 & FY24 Results Revenue: ₩1.56Tn in Q4 (+8.0% year-on-year), ₩5.91Tn in FY24 (+0.8%) EBITDA: ₩272.8Bn in Q4 (+5.0%), ₩1.435Tn in FY24 (+1.9%) EBITDA

February 7, 2025

ITC: Q3 FY25 Results

Key Business Metrics: Q3 2025 Gross Revenue is up +8% and EBITDA is up +3% (ex-paper +4.5%) despite a subdued demand environment and sharp escalation

February 6, 2025

PMI: FY24 Results

Release date: February 6, 2025 (NYSE, before the bell) Key Business Metrics: Q4 2024 Revenue: up +7.3% to $9.71 billion (vs. $9.44 billion expected, $9.05

February 6, 2025

USA: ZYN Rewards

Unlocking the Benefits of ZYN Rewards: A Comprehensive Guide Loyalty programs have become a staple in consumer engagement and ZYN Rewards is no exception. For

February 4, 2025

Disposable Vapes & Big Puff Vapes

A disposable vape is a single-use electronic cigarette designed for convenience and simplicity. Unlike rechargeable vapes, disposable vapes come pre-filled with e-liquid and have a

February 2, 2025

USA: Menthol Cigarettes

Menthol cigarettes have long been a contentious issue and a matter of regulatory scrutiny in the United States. Public health advocates argue that menthol reduces

February 2, 2025

USA: Cheap Cigarettes

The Rise of Cheap Cigarettes in the USA: A Look at Economic Stress, Market Trends and Brand Popularity In recent years, economic uncertainty, inflatory pressures,

February 2, 2025

List of US Cigarette Brands

Below is the list of every cigarette brand that is marketed in the U.S. Marlboro is the most smoked cigarette in the USA. Marlboro also

February 1, 2025

Alp Nicotine Pouches: Tucker Carlson

In November 2024, former Fox News host Tucker Carlson launched ALP, a brand of tobacco-free nicotine pouches, in partnership with Turning Point Brands. This venture

February 1, 2025

Altria: FY24 Results

Top-line & Bottom-line Results Q4 2024 Revenue: $5.11Bn (exp. $5.04Bn; +1.6% vs. $5.02 in Q4 2023) Q4 2024 EPS: $1.29 (exp. $1.28; +9.3 vs. $1.18

January 30, 2025

Copenhagen Tobacco

Copenhagen is one of the most well-known and enduring brands of dipping tobacco in the United States. Copenhagen is owned by U.S. Smokeless Tobacco Company

January 29, 2025

ZYN Women

In the United States, the traditional form of oral nicotine consumption has long been moist smokeless tobacco (MST) – often called “dip” or “chew.” This

January 27, 2025

USA: Cigarette Brands

The US cigarette market is a quasi-duopoly with two companies, Altria’s Philip Morris USA and British American Tobacco (BAT)’s Reynolds American, owning 84% market share

January 24, 2025

Tobacco Stocks

Does Warren Buffett own tobacco stocks? No, Warren Buffett does not own any tobacco stocks. Warren Buffett’s Berkshire Hathaway owned tobacco stocks in the past

January 22, 2025

E-cigarette Manufacturing

January 2025: Chinese e-cigarette exports continue to decline According to the data from the General Administration of Customs, the export value of Chinese electronic cigarettes

January 21, 2025

Grizzly Dip [Moist Tobacco]

Grizzly Moist Smokeless Tobacco, commonly misspelled as Grizzle, is a popular dip brand marketed by the American Snuff Company, an operating company of British American

January 20, 2025

Marlboro Alternatives

Marlboro has long dominated the cigarette market in the United States, becoming nearly synonymous with smoking itself. Its iconic branding – built on the rugged,

January 16, 2025

Lucy Pouches & Flavors

What are Lucy pouches? Lucy is a nicotine pouch brand launched in 2020 by Lucy Goods. Based in Las Vegas, Nevada, Lucy Goods is founded

January 15, 2025

How long do Zyns last?

Nicotine pouches have grown increasingly popular in the United States, with ZYN emerging as a leading brand. Understanding how long ZYN pouches last involves examining

January 14, 2025

Flava Vape: Questions and Answers

What happened to Flava Vape? Why is Flava closed? In March 2024, amid allegations of illegal marketing to minors and tax evasion, the Department of

January 11, 2025

IQOS: Questions and Answers

Is IQOS more addictive than cigarettes? The simple answer is: IQOS is as addictive as cigarettes and this is by design. Tobacco products serve as

January 11, 2025

Karelia Tobacco

Karelia Tobacco Company is Greece’s largest cigarette manufacturer & exporter and one of the largest independent tobacco companies in the world (i.e. not belonging to

January 10, 2025

Skoal Moist Tobacco

Skoal is a well-known brand of moist smokeless tobacco (dipping tobacco, dips) in the United States, owned and marketed by U.S. Smokeless Tobacco Company (USSTC),

January 9, 2025

Quit smoking – Stop smoking

Myths and Facts About Nicotine Nicotine is often misunderstood. Some people believe it causes cancer. Others think switching to nicotine alternatives is just as harmful.

January 8, 2025

IQOS ILUMA USA

IQOS ILUMA is the flagship (latest & greatest) IQOS model, first launched in Japan, the world’s largest heated tobacco market, on August 17, 2021. Philip Morris

January 7, 2025

on! Pouches & Flavors

What are on! nicotine pouches? on! is a compact, discreet, and 100% tobacco leaf-free nicotine pouch brand that has rapidly grown into one of the

January 6, 2025

ZYN Smooth & ZYN Chill

What flavor is ZYN Smooth and ZYN Chill? In the USA, ZYN offers a range of 10 flavors, two of which are “unflavored”: ZYN Smooth

January 5, 2025

ZYN Flavors: User Reviews

ZYN offers a range of 10 flavors in the USA. For the full range of ZYN flavors, refer to: ZYN Flavors. We scan all user

January 1, 2025

Zyns

There are 20 ZYN variants (“Zyns”) currently sold in the USA: 10 flavors x 2 nicotine strengths (3mg, 6mg). ZYN flavors include Smooth, Chill, Menthol,

January 1, 2025

Marlboro Brand

Marlboro is a prominent American cigarette brand owned by Philip Morris USA (an operating company of Altria, ticker: MO) in the United States and Philip

January 1, 2025

Tobacco Companies: Total Shareholder Return (TSR)

Methodology Six largest publicly traded tobacco companies (i.e. 93.5% of the total market capitalization of all publicly traded tobacco & nicotine companies). Total Shareholder Return

January 1, 2025

Tobacco Companies: Questions and Answers

What are the top 3 tobacco companies? Who is the richest tobacco company? Top 3 tobacco companies are Philip Morris International (PMI), Altria and British

December 31, 2024

Tobacco Pulse Surveys: Q4 2024

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

December 30, 2024

Natural American Spirit

Natural American Spirit, often abbreviated as American Spirit, is a brand of smokes known for its additive-free offerings. Established in 1982 by a group of

December 28, 2024

Nicotine Lozenges

Quitting smoking is no small feat – it’s a journey filled with challenges and triumphs. But what if there was a simple, effective way to

December 26, 2024

Newport

Newport is a brand of menthol cigarettes widely recognized and consumed in the United States. Known for its strong menthol flavor and association with urban

December 24, 2024

Snuff

There are more than 40 types of smokeless tobacco products that are consumed through the nose or mouth and there are more than 300 million

December 20, 2024

ZYN: Questions and Answers

What does ZYN mean? Parallel to the skyrocketing popularity of ZYN, many wonder about the meaning of ZYN. What is the origin of the word

December 17, 2024

SWIC Heated Tobacco Device

Altria starts the test marketing of its proprietary heated tobacco device, SWIC, in the UK through online sales. SWIC works exclusively with KETLE Capsules and provides up

December 13, 2024

BAT: FY24 Pre-Close Trading Update

Date/time: December 11, 2024 (Wednesday) at 8:00am UK time – BAT reaffirms its low-single digit revenue and operating profit growth guidance for 2024. The H2

December 11, 2024

Marlboro Red

Marlboro Red refers to the full-flavor version of Marlboro cigarettes. It’s the classic and original Marlboro product – often associated with the iconic Marlboro Man

December 2, 2024

USA: Popular Cigarette Brands

The U.S. cigarette market has long been defined by powerful brands that command strong loyalty among consumers. Despite shifting consumer preferences and a decline in

December 1, 2024

VUSE Vapes: International

Originally, Vype was the vape brand launched by British American Tobacco (BAT) in international markets. Following BAT’s acquisition of the remaining outstanding shares of Reynolds

November 26, 2024

Share Buybacks: Scandinavian Tobacco

November 2024: Scandinavian Tobacco completed the kr.850 million share buy-back program As of November 22, 2025, Scandinavian Tobacco Group (STG) purchased a total of 7,883,876

November 25, 2024

Marlboro Black

Marlboro Black in the USA is a line of cigarettes under the Marlboro brand, produced by Altria’s Philip Morris USA subsidary. The most notable aspect

November 21, 2024

Marlboro NXT

Marlboro NXT is a cigarette with crushable capsule produced by Philip Morris USA, a subsidiary of Altria Group. Marlboro NXT comes in a full-flavor variety

November 20, 2024

Imperial Brands: FY24 Results

Expectations ahead of the release: Sell-side expects +2.9% tobacco & NGP revenue and +4.3% adjusted profit growth in FY24. Latest guidance: At the FY24 Pre-close

November 18, 2024

ZYN Flavors

ZYN Flavors ZYN offers a range of 10 flavors in the USA. ZYN pouch flavors can be categorized into 4 broad flavor families, including unflavored,

November 17, 2024

Snuff: USA

From Colonial Habit to Niche Market Snuff, a finely ground smokeless tobacco product, has long occupied a peculiar position in the American tobacco landscape. The

November 13, 2024

KT&G: Q3 2024 Results

Q3 2024 Results Revenue: ₩1.64Tn (-3.1% year-on-year) EBITDA: ₩479.2Bn (+2.5%); EBITDA Margin: 29.3% (+1.6pp) Operating Profit: ₩415.7Bn (+2.2%) Net Income: ₩239.9Bn (-28.0%); EPS: ₩2,251(-16.9%) Shareholder

November 7, 2024

What is Zyn?

What is a Zyn? Zyn is a popular nicotine pouch brand. Zyn pouch is a slim product made of a tea bag-like material, contain plant-based

November 6, 2024

Haypp Group: Results – 2024

November 2024: Q3 2024 Results1 – Net sales: up +23% SEK9442.2 million, +25% on constant FX (drivers: +23% nicotine pouches, +2% vapes and no contribution

November 5, 2024

Marlboro Rewards

Marlboro Rewards, officially known as Marlboro Rewards & Offers, is a loyalty program created by Philip Morris USA (PM USA), an operating company of Altria

November 5, 2024

Marlboro Coupons

Marlboro coupons have long been a part of the brand’s marketing strategy, offering adult smokers the opportunity to save money on cigarette purchases while engaging

November 4, 2024

Cigarets

Cigarets, as Americans used to call them, have presumably been the most controversial consumer product in human history. 60 years ago, in 1964, the U.S.

November 1, 2024

Altria: Q3 2024 Results

Top-line & Bottom-line Results Q3 2024 Revenue: $5.33Bn (exp. $5.33Bn; up +1.3% from $5.28Bn in Q3 2023) Q3 2024 EPS: $1.38 (exp. $1.35; up +7.8%

October 31, 2024

Japan Tobacco: Q3 2024 Results

Tobacco Segment: 89% weight in revenue, 100+% weight in adjusted operating profit Top-line & Bottom-line Results – Tobacco Segment Only Excluding Pharmaceuticals and Processed Food

October 31, 2024

Sensa Vape: USA – Research

October 2024: Researchers found no nicotine or nicotine analogs in Sensa vape samples Sensa vape launched by RJ Reynolds Vapor Company (RJRVC), an operating company

October 25, 2024

ITC: Q2 FY25 Results

Key Business Metrics: Q2 2025 Gross Revenue is up +16%, driven mainly by Hotels (+12%) and Agriculture (+47%; specifically, the value-added agricultural products and leaf

October 24, 2024

PMI: Q3 2024 Results

Release date: Philip Morris International (PMI) issues its 2024 third-quarter and first nine-months results on Tuesday, October 22, 2024, at 9:00 a.m. ET (13:00 pm

October 21, 2024

Sensa Vape: USA – Commercial Update

October 2024: Sensa reaches 2.9% volume share in the US At the 2024 Capital Markets Day, Sensa owner Reynolds American (London-based British American Tobacco’s U.S.

October 17, 2024

BAT: 2024 Capital Markets Day

Ahead of the event, BAT re-confirmed its FY24 and medium-term financial targets: “on track to deliver low-single digit organic revenue and adjusted operating profit growth

October 16, 2024

Imperial: FY24 Pre-close Trading Update

Expectations – Ahead of the release: Sell-side expects +2.7% tobacco & NGP revenue and +4.3% adjusted profit growth. Imperial’s latest FY24 guidance is low single-digit

October 8, 2024

Taxation: Heated Tobacco Products

October 2024: Under political pressure, New Zealand’s Associate Health Minister releases the details of the independent advice on heated tobacco products that paved the way

October 5, 2024

What is HHC? What is THC?

Cannabis contains a lot of compounds, and many of them are cannabinoids – active chemicals that interact with our body’s endocannabinoid system. Below is a

October 1, 2024

Tobacco Pulse Surveys: Q3 2024

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

September 30, 2024

Nicotine API

Nicotine, a naturally occurring alkaloid found in tobacco plants, is a widely used Active Pharmaceutical Ingredient (API) in Nicotine Replacement Therapies (NRTs), e-cigarettes and nicotine

September 26, 2024

Tobacco Regulation: New Zealand

September 2024: New Zealand Escalates Youth Vaping Crackdown with New Amendment Bill The coalition government in New Zealand introduced the Smokefree Environments and Regulated Products

September 16, 2024

Flava Vape Philippines

The Philippines is a US$200 million e-cigarette market with an annual growth rate of mid-teens. Until recently, the controversial Flava brand claimed to be the

September 7, 2024

Easy Cigarette

Easy cigarette may refer to menthol cigarettes, slim or superslim cigarettes, herbal cigarettes and super low tar cigarettes, depending on the context. These products are

September 1, 2024

Sensa Vape: USA

Sensa is a nicotine-free, fruit-flavored disposable vape launched in the USA on July 1, 2024, by R.J. Reynolds Vapor Company (RJRVC), an operating company of

August 28, 2024

Scandinavian Tobacco: FY23

Background Scandinavian Tobacco Group (STG) is the world’s 11th largest publicly traded tobacco company by revenue. STG became a pure-play cigar & pipe tobacco manufacturer, following

August 22, 2024

Tobacco Companies: Financial Calendar

Earnings releases, investor roadshows and ex-dividend dates are marked in the financial calendar. Both confirmed and projected (marked as “P”) dates are included. Note that

August 22, 2024

ZYN Sayings & Puns

Let’s start with the most basic questions: what is a ZYN? ZYN is a nicotine pouch brand with Swedish origin. What is a nicotine pouch?

August 16, 2024

ZYN Culture

The “ZYN Culture” in the US reflects broader trends in how people, especially younger adults, are approaching nicotine consumption. Several social and behavioral shifts influence

August 15, 2024

KT&G: Q2 2024 Results

Q2 2024 Results Revenue: ₩1.42Tn (+6.6% year-on-year) EBITDA: ₩383.1Bn (+25.4%); EBITDA Margin: 26.9% (+4.0pp) Operating Profit: ₩321.5Bn (+30.6%) Net Income: ₩318.0Bn (+57.5%); EPS: ₩2,754 (+59.5%)

August 9, 2024

IQOS USA: Commercial Strategy

Note: This is a live write-up. More details and explanations are added on a regular basis. Philip Morris International (PMI) has come a long way

August 8, 2024

Japan Tobacco: Q2 2024 Results

Tobacco Segment: 89% weight in revenue, 100+% weight in adj. operating profit in H1 2024 Top-line & Bottom-line Results – Tobacco Segment Only Excluding Pharmaceuticals

August 2, 2024

ITC: Q1 FY25 Results

Key Business Metrics: Q1 2025 Gross Revenue is up +7.3%, driven mainly by Hotels, value-added agricultural products and leaf tobacco. FMCG segment, both Cigarettes (+6.1%)

August 2, 2024

Nicotine

Nicotine: Properties, Uses and Public Health Implications Nicotine is a naturally occurring alkaloid found primarily in tobacco plants and certain other members of the nightshade

August 1, 2024

Altria: Q2 2024 Results

Top-line & Bottom-line Results Q2 2024 Revenue: $5.28Bn (exp. $5.39Bn; down -3% from $5.44Bn in Q2 2023) Q2 2024 EPS: $1.31 (exp. $1.34; flat vs.

July 31, 2024

Share Buybacks: BAT

July 2024 BAT enters into an agreement with Goldman Sachs to purchase ordinary BAT shares from July 25, 2024 to October 14, 2024. Thereby, Goldman

July 28, 2024

BAT: H1 2024 Results

Top-line – Revenue: £12.34Bn (vs. £12.47Bn expected, down -0.8% on an organic basis) – Revenue from New Categories: £1.65Bn (vs. £1.69Bn expected, up +7.4%) –

July 25, 2024

PMI: Q2 2024 Results

Key Business Metrics Adjusted net revenue: up +5.6% to $9.47Bn (vs. $9.18Bn expected; $8.97Bn in Q2 2023) Adjusted diluted EPS: down -0.6% to $1.59 (vs.

July 22, 2024

Nicotine: Questions and Answers

What is nicotine? Nicotine is a naturally occurring alkaloid with the chemical formula C₁₀H₁₄N₂. It is a colorless, oily liquid that turns brown when exposed

July 6, 2024

Tobacco Pulse Surveys: Q2 2024

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

July 1, 2024

Nicotine Pouch Manufacturing

Nicotine pouches were first developed two decades ago in Sweden. They were created as a modern, tobacco-free alternative to snus, a traditional Swedish product that

June 28, 2024

Cigarettes Brands

Cigarettes & Brands: a compilation of top brand of smokes – both cigarettes and mass-market cigars. Backwoods: Owned by Imperial Brands. Mass market cigar brand

June 12, 2024

Major Tobacco Companies

Philip Morris International (PMI): Headquartered in Stamford, Connecticut, USA and listed on the New York Stock Exchange (NYSE: PM). PMI is the largest publicly traded tobacco

June 10, 2024

Tobacco Products

Smokeless tobacco: Usually consumed orally or nasally, without burning or combustion. There are two main types of smokeless tobacco: snuff and chewing tobacco Smoking tobacco:

June 6, 2024

BAT – H1 2024 Pre-close Update

Ahead of the H1 2024 results (to be released on July 25, 2024), BAT provided an interim business update on June 4, 2024 (Tuesday). The

June 4, 2024

Nootropic Pouches

Nootropics are substances that supposedly improve cognitive functions, mainly executive functions, memory, creativity, or motivation, in healthy individuals. Also called “smart drugs” or “cognitive enhancers,”

June 1, 2024

BAT – H1 2024 Pre-close: Preview

Ahead of the H1 2024 results (to be released on July 25, 2024), BAT will provide an interim business update on June 4, 2024 (Tuesday).

May 30, 2024

ITC: FY24 Results

Key Business Metrics: Q4 2024 Gross Revenue is up +2% driven by resilient performance in Cigarettes (+7.7%) and FMCG Others (+7.2%). Gross Revenue (ex-Agri Business)

May 23, 2024

Energy Pouches: Caffeine Pouches

When we feel the need for a boost, we traditionally resort to nicotine and caffeine as an “every day use” booster – mostly consumed in

May 23, 2024

Imperial: H1 2024 Results

Top-line & Bottom-line results Adjusted: at constant currencies – Volume: -6.3% (to 89.9Bn sticks), reflecting the wider industry decline in the markets where Imperial Brands

May 15, 2024

KT&G: Q1 2024 Results

Q1 2024 Results “Delivers gloomy results, promises earnings turnaround in the second half” Revenue: ₩1.29Tn (-7.4% year-on-year) => decline driven by the weakness in Health-Functional

May 14, 2024

Sciecure Pharma

This is a sponsored post. Could China threaten the stronghold of Sweden in nicotine pouch manufacturing? Nicotine pouch is undoubtedly the fastest growing nicotine product

May 10, 2024

Japan Tobacco: Q1 2024 Results

Tobacco Segment: 88% weight in revenue, 100+% weight in adj. operating profit in Q1 2024 Top-line & Bottom-line Results – Tobacco Segment Only Excluding Pharmaceuticals

May 9, 2024

Altria: Q1 2024 Results

Top-line & Bottom-line Results Q1 2024 Revenue: $4.72Bn (exp. $4.72Bn; down -1% vs. Q1 2023) Q1 2024 EPS: $1.15 (exp. $1.15; down -2.5% vs. Q1

April 25, 2024

PMI: Q1 2024 Results

Key Business Metrics Adjusted net revenue: up +8.6% to $8.79Bn (vs. $8.47Bn expected; +11% ex-FX) Adjusted diluted EPS: up +8.7% to $1.50 (vs. $1.41 expected;

April 23, 2024

Altria – Q1 2024 Results: Preview

Release date: April 25, 2024 (before the opening bell) Sell-side analyst expectations Revenue and EPS decline are already factored in. Revenue: $4.72Bn (down -0.9% vs. Q1 2023)

April 22, 2024