Korea's Heated Tobacco Market Share Hit 11% in November as Sales Soared
Korea’s heated tobacco market share reached 11.3% in November 2018 as sales surged, according to data from the Ministry of Economy and Finance.
Korea's Heated Tobacco Market Share Hit 11% in November as Sales Soared
According toKorea Herald news compilation: According to data released by the Ministry of Economy and Finance on Friday, the market share of heated tobacco products in South Korea reached 11.3% of all cigarette sales in November 2018. In November, South Korea sold 288 million packs of cigarettes, a year-on-year increase of 1%, including about 35 million packs of HNB cigarettes. From January to November 2018, approximately 295 million HNB pods were sold in the South Korean market, accounting for 9.3% of the total cigarette market share.
According toKorea Herald news compilation: According to data released by the Ministry of Economy and Finance on Friday, the market share of heated tobacco products in South Korea reached 11.3% of all cigarette sales in November 2018. In November, South Korea sold 288 million packs of cigarettes, a year-on-year increase of 1%, including about 35 million packs of HNB cigarettes. From January to November 2018, approximately 295 million HNB pods were sold in the South Korean market, accounting for 9.3% of the total cigarette market share.
Since Philip Morris International launched the first HNB device, IQOS, in South Korea in May 2017, interest in such devices has been growing, leading to a sharp increase in sales. Within less than a year of its launch in 2017, IQOS sold approximately 163 million packs of HNB cigarettes in South Korea.
In the third quarter of 2018, HEETS sales accounted for 7.3% of the total cigarette market in South Korea, with a total of 1.4 billion HEETS sold.
According to publicly available information from PMI, the number of IQOS users and the market is continuously growing. Other top tobacco manufacturers operating in South Korea, such as KT&G and BAT, are engaged in fierce marketing battles with PMI in the HNB sector.
