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Trends in the Traditional Tobacco Industry
The traditional tobacco industry is undergoing significant changes driven by various factors including technological advancements,shifting consumer preferences,and evolving regulatory environments.Here are some key trends shaping the future of the traditional tobacco industry:
1.Decline in Traditional Cigarette Consumption
• Health Awareness:There is a growing global awareness of the health risks associated with smoking.Governments and public health organizations have been actively promoting anti-smoking campaigns,which has led to a decline in traditional cigarette consumption in many developed countries.For example,in the United States,the prevalence of smoking has been steadily decreasing over the past few decades due to increased health consciousness and strict regulations.
• Youth Smoking Prevention:Efforts to prevent young people from taking up smoking are intensifying.Strict age verification laws and restrictions on tobacco advertising targeting youth are being implemented in many countries.This is likely to further reduce the potential market for traditional cigarettes in the long run.
2.Rise of Alternative Tobacco Products
Japan Tobacco International(JTI)is actively advancing its global expansion plan for its heated tobacco product,Ploom X. According to the latest reports,JTI will invest 300 billion yen(approximately 1.538 billion yuan)over the next three years to promote Ploom X,with 200 billion yen allocated for markets outside of Japan.This investment scale exceeds the amount spent on heated tobacco products from 2020 to 2022.
Read more: JTI will invest 300 billion yen over the next three years to promote Ploom X
Regarding the intention of Philip Morris International(PMI)to relaunch its heat-not-burn product IQOS in the United States and the widespread concern from American health organizations,here is a summary of key points in English:
• Concerns from Health Organizations:
• Six health organizations,including the American Academy of Pediatrics,the American Lung Association,and Campaign for Tobacco-Free Kids,have submitted a protest letter to the FDA,expressing their concerns about the relaunch of IQOS e-cigarettes.
• These organizations point out that,despite PMI's claim that IQOS helps with quitting smoking,the existing evidence shows that the product's effectiveness in helping people quit smoking is not as advertised.