Sales of ‘alternative tobacco’ products, such as Philip Morris’s IQOS brand, are likely to double over the next two years, however, their share of the overall nicotine market will remain relatively small, a new report from Moody’s has found.
According to Moody’s, while sales of alternative products ‘continue to grow rapidly’, the sector’s contribution will remain relatively modest, at around 3% to 4% of the market, while the profitability of the sector is ‘uncertain’.
