Business · Companies · 2 hrs ago
Philip Morris aims for smoke-free products to make up over 66% of revenue by 2030
Philip Morris International, a tobacco company, says it wants smoke-free products to bring in more than 66% of its net revenue by 2030.
In 2025, those products accounted for 42% of its global sales, which totaled $40 billion.
The company says it has invested $16 billion in developing these alternatives over just over a decade.
Since 2014, about 43 million people in 109 countries have adopted its smoke-free products, according to the company.
Its goal of moving away from traditional cigarettes depends on how regulations change in different countries and whether consumers choose the alternatives.
Philip Morris says heated tobacco products can reduce exposure to some harmful substances, but that does not make them safe or risk-free.
The company has not set a date for ending cigarette sales, though it says some markets could stop selling traditional cigarettes between 2030 and 2035.
Philip Morris International aims for smoke-free products to generate more than 66% of its net revenue by 2030.
The company reported that smoke-free products accounted for 42% of its global sales in 2025.
PMI says about 43 million people in 109 countries have adopted its smoke-free products since it began launching them in 2014.
The company says its goal of replacing cigarettes depends on national regulations and consumer adoption.
PMI says heated tobacco devices can reduce exposure to certain harmful substances, while noting that this does not make them risk-free.
- Who
- Philip Morris International, a tobacco company.
- What
- It aims for smoke-free products to account for more than 66% of its net revenue by 2030.
- When
- The target is for 2030. The company reported its 2025 sales figures.
- Where
- The company discussed the goal at its annual Technovation event in Buenos Aires, Argentina.
- Why
- PMI says it wants to offer alternatives that reduce exposure to harmful substances and address diseases caused by its products.
This story does not have two clearly opposing sides.
Our mission is to replace every cigarette smoked by the 1,000 million smokers around the world with a smoke-free product, to put cigarettes in a museum
It is the right thing to do and it makes sense for our business
It is the right thing to do because we sell cigarettes and these cause diseases. Therefore, the right thing is to address the problem of diseases caused by our products and the best way to do that is to offer people alternatives that reduce the risk of disease
PMI began launching alternatives to traditional cigarettes.
PMI recorded global sales of $40 billion, with 42%, or $17 billion, coming from smoke-free products.
PMI aims for smoke-free products to generate more than 66% of its net revenue.
- 2025 global sales
- $40 billion
- Smoke-free share of 2025 sales
- 42%, or $17 billion
- Investment in alternatives
- $16 billion over just over a decade
- Adoption
- About 43 million people in 109 countries since 2014
- Markets with over 50% smoke-free sales
- 25 countries
Sources
Related news
Asian shares cautious as earnings and inflation data approach
Asian markets cautious as earnings and US inflation data loom
Two Project Europe cofounders step down as fund prepares for next chapter
Fintechs make up more than half of Europe’s planned growth-stage fundraisers
Global trade growth highlights countries’ economic interdependence
Mexican financial firms increasingly use cloud services to launch products
African Union-backed credit rating agency launches in Mauritius
Oil prices fall as traders await Russia-Ukraine energy ceasefire
Gold rises as oil and the dollar fall, with US inflation data ahead
AI investment boom is pushing up Swiss mortgage costs
Copper rises as rate-hike bets ease and Chile mine avalanche affects supply outlook