🔥 Heated Tobacco

About

Heated tobacco products (HTPs) heat processed tobacco to 250–350°C — hot enough to release nicotine and flavor, but below the combustion threshold (~600°C) of cigarettes. This produces a tobacco-flavored aerosol rather than smoke. Philip Morris International's IQOS is the dominant global brand; BAT's glo and Japan Tobacco's Ploom are significant competitors. HTPs are positioned as reduced-harm alternatives for existing smokers who prefer a tobacco taste over vaping.

Market

The global HTP market exceeded $25 billion in 2024, with Japan and South Korea as the most mature markets — IQOS holds over 30% of Japan's total tobacco market share. Europe (especially Italy, Czech Republic, and Romania) is the fastest-growing region. PMI reported that HTPs accounted for over 38% of its net revenues in 2024 as it accelerates its "smoke-free" transition. The category is still nascent in the Americas and most of Africa, where regulatory clarity is lacking.

Regulation

HTPs occupy a complex regulatory middle ground — not cigarettes, not vapes, not oral tobacco. The US FDA authorized IQOS as a Modified Risk Tobacco Product (MRTP) in 2020, the first such authorization for any tobacco product, though it was later embroiled in patent litigation that paused US sales. The EU regulates HTPs under the Tobacco Products Directive with graphic health warnings and advertising restrictions. Japan — the world's largest HTP market — permits them under general consumer product law with minimal restrictions. Many countries apply cigarette-era regulations pending category-specific frameworks.