Altria's on! Brand Lifts Oral Share as Nicotine Pouches Reach 59.9% of Category

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3▲3 ▼0Impact / 5
Summary · why it matters

Altria Group's on! brand strengthened its position in the U.S. oral tobacco market as nicotine pouches expanded to 59.9% of the oral tobacco category in the second quarter of 2026, up 8.1 percentage points year over year and 1.8 points sequentially. Within that category, on! reached an 8.6% share of total oral tobacco, up 0.3 percentage points year over year and 0.8 points sequentially, while its share of the nicotine pouch category was 14.4%, down 1.7 points year over year but up 1 point sequentially. on! reported second-quarter volume of 49.9 million cans, down 4.2% from a year earlier on trade inventory movements, though first-half volume rose 5.1% to 96.1 million cans as on! PLUS expanded nationally, with estimated retail takeaway volume rising to 47.2 million cans in the second quarter from 40.8 million in the first quarter. on! PLUS reached 120,000 stores nationwide, supported by introductory trial offers and broader promotional activity. Rivals are also expanding: Philip Morris International reported ZYN U.S. shipments of 2.9 billion pouches in the second quarter of 2026, up 1.8% year over year, with ZYN holding around 57% retail value share, while Turning Point Brands' Modern Oral portfolio reached 48% of its net sales and posted $68.4 million in second-quarter 2026 revenue, up 128% year over year. Altria shares have gained 6.5% in the past six months versus the industry's 8.6% growth, and the stock trades at a forward price-to-earnings ratio of 11.82X against an industry average of 15.05X.

Impact on assets 3

Consumer Staples▲
Altria Group
MO
▲ PositiveDemandrelevance

on! PLUS national expansion drove retail takeaway volume up to 47.2M cans in Q2 from 40.8M in Q1, lifting on!'s oral tobacco share.

Philip Morris International Inc
PM
▲ PositiveDemandrelevance

ZYN U.S. shipments rose 1.8% YoY to 2.9 billion pouches with ~57% retail value share, showing continued category leadership.

Turning Point Brands Inc
TPB
▲ PositiveDemandrelevance

Turning Point Brands' Modern Oral portfolio reached 48% of net sales with Q2 revenue up 128% YoY to $68.4M.