wreath in tobacco basket Sunflower Wreath: Autumn Farmhouse Door Decor not included. Fall Wreath with Tobacco Basket

Industry response to strengthened regulations: Amount and themes of flavoured electronic cigarette promotion by product vendors and manufacturers on Instagram

Bernays client, George W

According to SAMHSA, 51.8 percent of adults reported lifetime use in 2014

SALES SURGED 250% IN UNDER THREE YEARS Global retail sales of nicotine pouches reached 23.46 billion units in 2024 a 50.5% increase over the previous year, according to Euromonitor International

However, the brokerage also highlighted: Historically inelastic cigarette demand in India ITCs ability to deploy calibrated price hikes Diversification benefits from FMCG, hotels and agri-business While earnings and sentiment may remain under pressure in the short term, ITCs pricing power and business mix could help stabilise performance over the medium to long term