Specifically, according to the fourth quarter and full-year performance report for 2024 released by Philip Morris International on February 6, 2025, Philip Morris International’s market share of heated non-burning electronic cigarettes (HNB) in the South Korean market reached 8.1% in 2024, up 1 percentage point from 7.1% in 2023, successfully breaking through the 8% mark. This growth is mainly due to Philip Morris International’s continued promotion of non-burning tobacco products in the South Korean market, especially the popularization and promotion of its heated tobacco device IQOS.
In addition, Philip Morris International’s overall tobacco market share in South Korea (including traditional cigarettes and HNB electronic cigarettes) also reached 19.9%, an increase of 0.4 percentage points from 2023. Although the shipment volume of traditional cigarettes has decreased, the shipment volume of HNB products has increased, further promoting the increase in market share.
In summary, Philip Morris International’s heated tobacco product share in the Korean market achieved significant growth in 2024 and exceeded 8% for the first time, which marks an important progress in the company’s new tobacco product business in the Korean market.
VEEHOO should continue to invest in research and development to improve the taste, smoke volume and battery life of heated tobacco products to meet consumers’ growing quality needs. At the same time, explore more diverse flavors and packaging designs to attract the attention of different consumer groups.
Drawing on the successful experience of Philip Morris International, VEEHOO can increase its brand promotion in the Korean market to enhance brand awareness and reputation. Through a combination of online and offline marketing methods, expand product exposure and attract more potential consumers. Cooperate with well-known local retailers, convenience stores, etc. to expand sales channels and increase product coverage.
Strictly abide by local laws and regulations in South Korea to ensure that the production and sales of products meet relevant standards.Strengthen internal compliance training to improve employees’ legal awareness and risk prevention and control capabilities. Pay close attention to policy trends and adjust market strategies in a timely manner to cope with possible policy changes.
In-depth understanding of Korean consumers’ smoking habits and preferences provides strong support for product development and marketing. Through market research, consumer feedback and other methods, we continuously optimize products and services to improve consumer satisfaction.
Tags: heated tobacco products, Korean heated tobacco market, consumer smoking habits and preferences, veehoo vape