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.
Currently,Ploom X is only sold in Japan and the UK,but the company plans to enter the Italian market this month.In addition to Italy,JTI aims to introduce Ploom X to more than 10 countries in 2023 and expects to reach at least 20 countries by the end of 2024.This expansion strategy demonstrates JTI's ambition in the global market,especially as competition in the heated tobacco product sector intensifies.
Furthermore,JTI plans to invest an additional 450 billion yen(approximately 3 billion US dollars)between 2024 and 2026 for the development of low-risk products.This indicates JTI's confidence in the long-term growth potential of heated tobacco products and its intention to solidify its position in the global tobacco market through technological innovation and market expansion.