Altria Group (MO) Consumer Analyst Group of New York Conference (CAGNY) 2026 summary

Leadership transition and strategic vision

• CEO Billy Gifford is retiring in May, with Sal Mancuso set to take over leadership.

• The company is focused on transitioning to a smoke-free future and expanding beyond nicotine and the U.S. market.

• Emphasis on responsible harm reduction and capturing opportunities in evolving nicotine categories.

• Enhanced capabilities and strategy enablers are being developed to support execution and flexibility.

Evolving nicotine market and consumer trends

• U.S. nicotine market is shifting rapidly toward smoke-free products, with a 20% decline in combustibles and a 2% CAGR in total nicotine volume from 2020 to 2025.

• Nearly half of adult smokers are interested in smoke-free alternatives, and over 4 million have transitioned since 2020.

• Three main consumer groups—Traditionalists, Transitioners, and Variety Seekers—are shaping category dynamics and product innovation.

Consumer insights and portfolio strategy

• Smoke-free adoption is rising, with over half of U.S. nicotine consumers now using smoke-free products.

• Oral tobacco, especially nicotine pouches, is a key growth driver, with volumes up over 40% last year.

• Oral tobacco industry volume is growing, with nicotine pouch consumers more than doubling from 2023 to 2025.

• The oral portfolio is tailored to different consumer groups, offering a range of flavors and strengths.

• Helix's on! PLUS pouches are gaining share, with 95% of surveyed consumers likely to repurchase.