Picture from Lindsay Fox via Flickr
According to experts from the analytical company Jefferies, Bloomberg report that smokers may be ready to disappear from many markets.
“As tobacco regulators and aspirations become more and more aligned, in many countries no smoker in a generation could become a reality,” analyst Owen Bennett wrote in a recent statement. “If it is to happen without smoke, it can only be achieved with its support [reduced-risk products, including e-cigarettes and vapes]”
Citigroup Inc. also has the impression that the number of smokers will decrease dramatically in the near future. In fact, the investment bank believes that smoking will disappear by 2050 from much of the developed world, including the US, parts of Europe and Australia, according to Bloomberg. The number of children smoking has dropped by almost three-quarters in just 20 years.
The news symbolizes a big change. Big Tobacco must now change its position to remain competitive, switching from traditional tobacco products to e-cigarettes and other vapor products.
Philip Morris, for example, announced last summer that cigarette sales may stop altogether.
“I am convinced that it is possible to completely stop cigarette sales in many countries in 10 to 15 years,” CEO Andreas Kalanzopoulos wrote in a sustainability report at the time.
The company is now working hard to change its consumers into smokeless products. Its goal: 40 million adult smokers will change by 2025.
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