Reuters: Nicotine Pouches Emerge as Big Tobacco’s Key Growth Bet
Nicotine pouches are gaining investor attention as cigarette sales decline, with brands like PMI's Zyn and BAT's Velo showing rapid growth and strong margins. BAT expects the global pouch market to grow from £4B in 2025 to £11B by 2030, with pouch volumes in Asia, Middle East, and Africa up 27.5% in H1 2026. PMI reported higher profitability for pouches compared to cigarettes and heated tobacco. Analysts note that pouch performance influences tobacco-company valuations, but wider adoption faces




