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.
Notice
1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.
2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.
3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.
Copyright
This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.
This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.
