News:
In 2025, Philip Morris International (PM) shipped 794 million cans of Zyn nicotine pouches in the United States. That’s a whopping +37% YoY increase.
Trend:
Nicotine pouches have surged in popularity as consumers look for alternatives to traditional smoking. These smokeless, tobacco-free products deliver nicotine discreetly through the gum and carry fewer health risks than combustible cigarettes.
They have gained particular traction among young men, including segments of Silicon Valley and the online “manosphere.”
Among brands, PM’s Zyn has emerged as the clear market leader. In January 2025, Zyn received the first FDA marketing authorization for 20 of its nicotine pouch products. But competition is growing: In December, the FDA authorized marketing for six of Altria’s On! Plus nicotine pouch products.
These firms are also facing increasing regulatory pressure over concerns about youth consumption. For example, New York recently proposed a 75% wholesale tax on nicotine pouches.
For now, however, regulations remain largely piecemeal. And the FDA appears poised to allow Philip Morris to advertise that Zyns are a less harmful alternative for cigarette smokers.
In Practice:
The Hedgeye Fourth Turning ETF is long this trend through Philip Morris International (PM) and Altria (MO). These brands remain the most established players and are the only companies with FDA marketing authorization.