Industry watch: heat-not-burn tobacco products are about to reach their boiling point

Heat-not-burn tobacco products (HNB), including Reynolds American's (RA) ‘Eclipse’ and ‘Revo’ and Philip Morris International's (PMI) ‘Heatbar’, are devices that heat tobacco to ~500°F, producing an inhalable aerosol. Since 1988, tobacco companies have perennially introduced HNB and marketed them as healthier than conventional cigarettes. These claims, refuted by researchers,1 failed to lure consumers. Each reincarnation of HNB was commercially unsuccessful, and most HNB products were discontinued shortly after their introduction. Until recently, HNB products were all but unavailable to consumers—but now may be the perfect time for a thriving HNB market.

Recent enthusiasm for e-cigarettes2 has captured the attention of researchers and the imagination of tobacco executives. E-cigarette use is buoyed by perceptions that they are less harmful than conventional cigarettes.3 However, recent estimates project decelerating growth for e-cigarettes. According to Euromonitor International, vapour e-cigarettes are now predicted to grow just 51% in...