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What’s Happening in Tobacco? Q1 2019

June 2019

In the latest in an ongoing series of quarterly briefings looking at major (and some minor) developments in the world of tobacco, we assess the latest performance of the major multinationals, important cannabis and NPD/NGP updates, the reviewed economic growth projections for the world’s key markets, and what to look for in the next quarter.

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Key Findings

Scott Gottlieb is stepping down as head of the US FDA, while the PMTA deadline for flavoured ENDS is moved one year earlier

Q1 2019 was yet another eventful period for the US tobacco industry. First, the FDA’s commissioner drafted letters to Altria and Juul Labs questioning their commitment to curbing youth vaping in light of their newly formed partnership. Then, Gottlieb added that e-cigarette companies face an existential threat if they continue marketing to the youth. Soon after, the commissioner announced he is stepping down as the head of the agency. This led to an initial upsurge in tobacco stocks as some envisaged changes to FDA policies. However, Gottlieb’s successor, the Director of the National Cancer Institute Dr. Ned Sharpless, will likely continue the agency’s current plan. Furthermore, the FDA is bringing forward the PMTA deadline for all flavoured ENDS products to 8 August 2021, a year earlier than previously planned, and proposing to end the current compliance policy. As a result, the agency expects that some flavoured e-cigarette products and flavoured cigars will no longer be sold at all, while others will continue to be sold only in a manner that prevents youth access.

New restrictions including plain packaging passed in Israel

In January, the Israeli Knesset passed a bill imposing new restrictions on the industry. The law imposes a near blanket ban on advertising, with a few exceptions, mainly print media, for all categories including e-cigarettes. Plain packaging has also been approved. All rules will come into effect by January 2020.

In Brief

Regulatory updates 1
Regulatory updates 2
Regulatory updates 3
Regulatory updates 4
Regulatory updates 5
Taxation updates
Prevalence updates
Market and product updates 1
Market and product updates 2
Market and product updates 3
Market and product updates 4
Cannabis updates
New product developments

In Depth

PMI: volumes continue to slide due to the East Asian region
BAT: Asia Pacific and the Middle East growth due to THP
JTI: international growth and drastic decline in Japan
IMB: investment in blu is putting pressure on profits

Macroeconomic update

The latest Euromonitor International macroeconomic forecasts

Q2 talking points

What to look for in Q2 2019
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