JTI to Invest $4.4 Billion in Heated Tobacco Push, Aims for 10% Global Share by 2028

Jun.30.2025
JTI to Invest $4.4 Billion in Heated Tobacco Push, Aims for 10% Global Share by 2028
JTI plans to invest around ¥650 billion (approx. $4.4 billion) from 2025 to 2027, aiming to capture 10% of the global heated tobacco market by 2028. Korea GM Irina Lee highlighted strong market growth potential, with efforts focused on product innovation and expanding distribution to boost competitiveness and grow market share in Korea.

Key Points:

 

·Investment and goals: Japan Tobacco International (JTI) is investing approximately 650 billion yen (approximately $4 billion) with the aim of capturing a 10% share of the global HNB product market by 2028. 

 

·Market strategy in Korea: JTI plans to relaunch the Ploom X Advanced, expand both online and offline distribution channels, introduce limited edition devices, and expand its product line. 

 

·Market potential: The market share of HNB products in Korea is expected to increase from 2.2% to 18.4% over the next 7 years, indicating room for growth. 

 

·Diversified product offerings: JTI will simultaneously strengthen its traditional cigarette brands (MEVIUS, CAMEL) while expanding its HNB product business. 

 

·Global positioning: Korea is seen as a key strategic market, with emphasis on localized innovation and consumer demand response. 

 


According to a report by the Korea Economic Daily on June 30th, JTI plans to invest approximately 650 billion yen (around $4 billion) from 2025 to 2027, aiming to secure a 10% share of the global HNB product market by 2028.

 

Irina Lee, Managing Director of Japan Tobacco International Korea, recently stated in a written interview with The Pioneer Economy that, within six months of her tenure, she has seen significant progress in the company.

 

"I foresee that in the near future, traditional cigarettes, HNB products, and e-cigarettes will coexist. We plan to invest in product commercialization, research and development, and capital expenditures in the field of heated non-burning products."

 

Since taking over JTI Korea International on January 1st, she has been focused on the growth potential of the HNB product market in South Korea. JTI Korea International withdrew from the domestic HNB product market in South Korea in 2021, but will launch the "Ploom X Advanced" by the end of 2024 to challenge the market once again. Currently, the domestic cigarette market in South Korea is dominated by three major companies: KT&G, Philip Morris International (PMI) Korea, and British American Tobacco Korea.

 

Li Yilin expressed that:

 

"According to the data from the Ministry of Planning and Finance's "2024 Tobacco Market Trends," the market share of HNB products in the South Korean tobacco market has increased by 9 times in just 7 years, rising from 2.2% in 2017 to 18.4% in 2024. I believe that the South Korean market has even greater growth potential than it currently does. Since the launch of Ploom X Advanced, we have been expanding our points of contact with consumers. Since the beginning of 2025, we have not only been selling devices through the Ploom official website, but have also expanded sales through major public markets in South Korea such as Naver and Coupang. Additionally, we continue to engage in two-way communication through our official KakaoTalk channel."

 

In addition, the company stated that:

 

"We plan to strengthen our brand portfolio by launching limited edition device 'Aqua Halo' (the first Ploom X Advanced device with a back cover) and expanding our product line with dedicated stick 'MEVIUS for Ploom' in the near future."

 

Japan Tobacco International's Korean branch plans to further expand its share of the domestic cigarette market in South Korea this year. The tobacco product department, represented by "MEVIUS" and "CAMEL" brands, has seen steady growth in market share with the introduction of new products. As the user base of Ploom X Advanced devices expands, it is expected that the market share of the HNB product department will continue to grow in the future.

 

Li Yilin said:

 

"Our top priority is to ensure and enhance the strong competitiveness of the JY International brand and products in the Korean market. We see Korea as a global strategic market. We will listen to the voices of Korean consumers and offer a variety of high-quality products in the cigarette and HNB product categories to meet the increasingly segmented needs of consumers."

 

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Reuters: Shopify May Ban All Vape Sales This Week Amid Illegal Market Crackdown
Reuters: Shopify May Ban All Vape Sales This Week Amid Illegal Market Crackdown
Reuters reported that Shopify may ban all vape products from its platform as soon as this week, signaling that U.S. enforcement against the illegal vape market is expanding from retailers and importers to e-commerce platforms and payment networks.
MarketBAT
Jun.23 by 2Firsts Perspectives
China’s Zhengzhou Tobacco Research Institute develops end-to-end heated tobacco analysis to trace aerosol compound origins
China’s Zhengzhou Tobacco Research Institute develops end-to-end heated tobacco analysis to trace aerosol compound origins
The Zhengzhou Tobacco Research Institute of China National Tobacco Corporation has filed a patent application for an end-to-end method to analyze the migration and transformation of chemical compounds in heated tobacco products. Using GC-Orbitrap/MS non-targeted analysis, the method compares tobacco substrate and aerosol samples to distinguish compounds transferred directly from the substrate from those newly formed during heating, while also calculating transfer rates. In an example involving nine heated tobacco products, the patent identified 17 newly formed thermal decomposition compounds and 38 transferred compounds.
Aug.13
PMI Oral Products Chief Says Lack of Rules May Push Nicotine Pouch Market Into Illicit Trade
PMI Oral Products Chief Says Lack of Rules May Push Nicotine Pouch Market Into Illicit Trade
Nick Ricketts, President of Oral Products at Philip Morris International (PMI), told Logos Press that nicotine pouches should be brought under clear regulatory frameworks covering nicotine limits, flavor rules, age verification, sales controls and marketing standards, arguing that the absence of clear rules or blanket bans may push consumer demand into illegal or semi-legal channels.
Jul.06
PMI to Launch IQOS in Argentina by End-2026 After Regulatory Shift, Targeting About 7 Million Smokers
PMI to Launch IQOS in Argentina by End-2026 After Regulatory Shift, Targeting About 7 Million Smokers
Philip Morris International (PMI) has confirmed plans to bring its IQOS heated tobacco device to Argentina by the end of 2026, after the Argentine government lifted long-standing restrictions and created a regulatory framework for heated tobacco, e-cigarettes and nicotine pouches.
News
Jun.26 by 2Firsts Perspectives
Germany Seizes 56 Pallets of Illegal Vapes, Probe Estimates €1.8 Million Tax Loss
Germany Seizes 56 Pallets of Illegal Vapes, Probe Estimates €1.8 Million Tax Loss
German authorities have seized dozens of pallets of illegal disposable vapes in a criminal investigation, with the products estimated to have caused at least €1.8 million in tax losses. The case has also raised concerns over cross-border supply chains linked to unauthorized nicotine products entering the European market.
Jul.14
BP, Marathon and Valero Warn U.S. Gas-Station Stores: Illegal Vape Sales Could Bring Heavy Fines and Card-Processing Limits
BP, Marathon and Valero Warn U.S. Gas-Station Stores: Illegal Vape Sales Could Bring Heavy Fines and Card-Processing Limits
Fiserv and service station operators including BP, Marathon Petroleum and Valero have warned U.S. partners and gas-station convenience-store owners that selling illegal vapes could lead to heavy fines, breach brand agreements and even put stores’ card-processing access at risk, according to Reuters.
Regulations
Jul.07 by 2Firsts Perspectives