Keeping Tabs on Tobacco: Global Tobacco Periodical

研报英文原文证据摘录

Keeping Tabs on Tobacco: Global Tobacco Periodical

g on 15th June.

• US Pouch Competition: ZYN Ultra serves as a strategic launch to combat market share erosion, offering improved per-pouch value (20

pouches per can, 16% discount on a per pouch basis) at $4.45 per can. This online launch features eight flavours, with seven being

mint/menthol flavoured, and one citrus.

• DB View: ZYN Ultra's launch fills a critical portfolio gap with products tailored to current trends, which effectively will shift the debate around

innovation from “moist vs dry” to other pouch attributes, including flavour offering, nicotine delivery, smell, mouthfeel and taste.

Illicit Cigarette Trade Surges in Latin America and Canada, Driven by "Illicit Whites" and Tax Disparities (See Article)

• Latin America and Canada – “Global Hotspots” for Illicit Tobacco: In 2025, 31.9% of cigarettes consumed in 11 analysed countries in

Latin America and Canada were illicit (77 bn sticks), double the global average, leading to USD 8.5 bn in lost tax revenue. "Illicit Whites"

dominate, accounting for 73% of illicit cigarettes, with Paraguay as the largest source and Brazil as the biggest consumer.

• Persistent Structural Factors Fuel Resilient Underground Economy: The massive scale of illicit trade is driven by large price differences

due to taxation, established cross-border smuggling routes, and widespread availability of illicit brands. Countries like Canada also experience

multi-billion-dollar underground tobacco economies, as illicit supply chains adapt quickly despite declining overall cigarette consumption.

• DB View: This report underscores how significant tax differentials and enforcement gaps can foster illicit trade, leading to substantial revenue

losses and undermining public health efforts.