What is the increase in the organic growth outlook for 2021 compared to the previous year? 
ndars.
To conclude, we've had a strong start to the year and look forward with confidence despite the continued uncertainty on the operating environment due to COVID. This is the same concluding slide I presented at Investor Day in February, as I believe our start to 2021 demonstrates all of the key elements of our longer-term trajectory. Through IQOS we are building a business with multiple levers to deliver superior and sustainable growth over the coming year through improved volume dynamic, excellent topline growth, strong margin expansion and fast-growing earnings. Moreover, while every adult smoker who switches to IQOS is good for our business, it is also a clear positive for our impact on society and public health. We manage our transformation with care and responsibility for our stakeholders, guided by our sustainability materiality framework to maximize our positive impact across our Tier one ESG and product areas. This is essential for the sustainability of our business, and for delivering superior returns for shareholders over the long term. The increase in our organic growth outlook for 2021 is another step on this journey, also putting us nicely on track to achieve our 2023 financial and HTU shipment targets.
Thank you. I am now more than happy to answer your questions.
Questions and Answers:
Operator
[Operator Instructions] Our first question comes from Vivien Azer of Cowen.
Vivien Azer -- Cowen -- Analyst
Good morning.
Emmanuel Babeau -- Chief Financial Officer
Good morning, Vivien.
Vivien Azer -- Cowen -- Analyst
So given some of the headlines coming out of the US yesterday, it might be helpful, please, for my first question, if you could just level-set on IQOS's designation in your international markets in terms of the type of tobacco product from the tax perspective. Thanks.
Emmanuel Babeau -- Chief Financial Officer
So, I guess Vivien, if I understand, well, your question is, how is our heat-not-burn offer and product classified versus combustible cigarette in our non-US geographies. Correct?
Vivien Azer -- Cowen -- Analyst
That's correct. Yes, please.
Emmanuel Babeau -- Chief Financial Officer
Right. So I'm not sure that I'm going to be able to give one general answer because the classification can be different from one country to the other. I would say, today, probably the fact that the excise duty applied to our IQOS product is differentiated in the vast majority of the markets show that the treatment is differentiated, so the product is addressed already in a distinct manner on that particular element recognizing that it's a different product with a different feature than the combustible cigarettes. So we are, of course, going to see some situation that can be different from one market to the other, we are certainly welcoming a regulation that will further clarify the fact that these heat-not-burn products are clearly different and a better alternative to combustible in the future and as I think I mentioned, we see the regulation progressing nicely country after country to take that into account, have been taking a few example during my previous speech and we expect that to continue.
So, we expect more and more government regulated to further clarify distinction between heat-not-burn and other reduced risk products and combustible cigarettes and come as well with different regulation and as you know, we are calling for a differentiated approach on two items, certainly on the way we can communicate on these better alternatives and better product than the combustible cigarette. And also of course on taxation to make sure that we have an incentive to push the smokers to this better alternative for their health.
Vivien Azer -- Cowen -- Analyst
Certainly. That's helpful. Thank you very much. And then my follow-up, if you could just provide your assessment of the risk, other countries potentially implementing a nicotine cap on combustible cigarettes. Thank you.
Emmanuel Babeau -- Chief Financial Officer
Well, I think that is something that as you rightly say, Vivien, is not implemented anywhere today, and
ndars.
To conclude, we've had a strong start to the year and look forward with confidence despite the continued uncertainty on the operating environment due to COVID. This is the same concluding slide I presented at Investor Day in February, as I believe our start to 2021 demonstrates all of the key elements of our longer-term trajectory. Through IQOS we are building a business with multiple levers to deliver superior and sustainable growth over the coming year through improved volume dynamic, excellent topline growth, strong margin expansion and fast-growing earnings. Moreover, while every adult smoker who switches to IQOS is good for our business, it is also a clear positive for our impact on society and public health. We manage our transformation with care and responsibility for our stakeholders, guided by our sustainability materiality framework to maximize our positive impact across our Tier one ESG and product areas. This is essential for the sustainability of our business, and for delivering superior returns for shareholders over the long term. The increase in our organic growth outlook for 2021 is another step on this journey, also putting us nicely on track to achieve our 2023 financial and HTU shipment targets.
Thank you. I am now more than happy to answer your questions.
Questions and Answers:
Operator
[Operator Instructions] Our first question comes from Vivien Azer of Cowen.
Vivien Azer -- Cowen -- Analyst
Good morning.
Emmanuel Babeau -- Chief Financial Officer
Good morning, Vivien.
Vivien Azer -- Cowen -- Analyst
So given some of the headlines coming out of the US yesterday, it might be helpful, please, for my first question, if you could just level-set on IQOS's designation in your international markets in terms of the type of tobacco product from the tax perspective. Thanks.
Emmanuel Babeau -- Chief Financial Officer
So, I guess Vivien, if I understand, well, your question is, how is our heat-not-burn offer and product classified versus combustible cigarette in our non-US geographies. Correct?
Vivien Azer -- Cowen -- Analyst
That's correct. Yes, please.
Emmanuel Babeau -- Chief Financial Officer
 Right. So I'm not sure that I'm going to be able to give one general answer because the classification can be different from one country to the other. I would say, today, probably the fact that the excise duty applied to our IQOS product is differentiated in the vast majority of the markets show that the treatment is differentiated, so the product is addressed already in a distinct manner on that particular element recognizing that it's a different product with a different feature than the combustible cigarettes. So we are, of course, going to see some situation that can be different from one market to the other, we are certainly welcoming a regulation that will further clarify the fact that these heat-not-burn products are clearly different and a better alternative to combustible in the future and as I think I mentioned, we see the regulation progressing nicely country after country to take that into account, have been taking a few example during my previous speech and we expect that to continue.
So, we expect more and more government regulated to further clarify distinction between heat-not-burn and other reduced risk products and combustible cigarettes and come as well with different regulation and as you know, we are calling for a differentiated approach on two items, certainly on the way we can communicate on these better alternatives and better product than the combustible cigarette. And also of course on taxation to make sure that we have an incentive to push the smokers to this better alternative for their health.
Vivien Azer -- Cowen -- Analyst
Certainly. That's helpful. Thank you very much. And then my follow-up, if you could just provide your assessment of the risk, other countries potentially implementing a nicotine cap on combustible cigarettes. Thank you.
Emmanuel Babeau -- Chief Financial Officer
Well, I think that is something that as you rightly say, Vivien, is not implemented anywhere today, and