According to a report by N. News on September 24, industry sources have revealed that Japan Tobacco International's South Korea branch will launch a HNB device (HTP) at the end of October this year.
A spokesperson for the company stated,
We plan to launch HNB devices (HTP) in the second half of the year. However, since it has not been officially released yet, details such as the brand name and specifications cannot be disclosed at this time.
JT International (JTI) is currently selling its heated tobacco products "Ploom Tech with2" and HTP device "Ploom X" in Japan. JTI previously launched "Ploom Tech" in South Korea in 2019, entering the e-cigarette market, but withdrew from the market in 2021.
Data shows that the HTP market in South Korea is currently in a growth phase. According to the Ministry of Strategy and Finance, cigarette sales decreased by 2.8% in 2023, while HTP sales increased from around 540 million packs in 2022 to around 610 million packs in 2023, representing a growth rate of 12.6%.
Currently, the HTP market in South Korea is primarily dominated by KT&G's "Lil" and Philip Morris International (PMI)'s "IQOS". In addition, British American Tobacco (BAT) is breaking into the market with "Glo".
According to market research firm Euromonitor, the size of the HTP market in South Korea has increased from 359.7 billion Korean won (270 million USD) in 2017 to 2 trillion Korean won (1.5 billion USD) in 2021. It is predicted that this number will reach 2.5 trillion Korean won (1.87 billion USD) next year.
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