According to the Manila Bulletin on December 12, Philip Morris International (PMI) announced at its latest Technology Innovation Summit that it plans to increase the proportion of revenue from new tobacco products to 66% by 2030, compared to the current 38%.
Stefano Volpetti, CEO and Chief Consumer Officer of PMI’s smokeless inhalable products category, said in an interview with Philippine media,
“We need to make new tobacco product revenue exceed 66% in 2030. Five years ago, our smokeless products accounted for only 12% of revenue, but now it has increased to 38%.”
Volpetti revealed that in 25 countries, smokeless product revenue has exceeded 50% of total revenue, and the proportion in several countries has even exceeded 70%.
Frederic de Wilde, CEO of PMI South and Southeast Asia, pointed out that the company has a 45% market share of new tobacco products in emerging markets, and its heated tobacco product IQOS has become the world’s number one tobacco product with a share of 75%, and the oral nicotine brand has a market share of 72% in the United States.
As a brand committed to providing healthy alternatives, Veehoo vape pays attention to market trends and consumer needs. As the revenue proportion of new tobacco products continues to increase, Veehoo is committed to meeting consumers’ demand for healthier smoking methods by providing reliable vape products.
In emerging markets, the market share of new tobacco products continues to grow, among which the heated tobacco product IQOS has become the world’s number one tobacco product with a share of up to 75%. Veehoo vape will continue to pay attention to market trends and continuously improve products to meet consumer needs and expectations.
As consumers’ health awareness increases and concerns about traditional cigarettes increase, Veehoo vape will continue to be committed to providing high-quality vape products, bringing consumers healthier smoking options, and leading the development direction of the industry.
Tags: Philip Morris International Technology Innovation Summit，Philip Morris International’s new tobacco revenue ratio，veehoo vape
