Insights on the Global Heat-not-burn Tobacco Products Market, Drivers, Restraints, Opportunities, and Threats - Technavio
NEW YORK, Sept. 21, 2022 /PRNewswire/ -- The heat-not-burn tobacco products market is expected to grow by USD 22.22 billion, at a CAGR of 26.21% during the forecast period. The cost-effectiveness of heat-not-burn tobacco products, heat-not-burn tobacco products are relatively safer than conventional cigarettes, and a growing number of organized retailing outlets is one of the major factors propelling the market growth.
However, factors such as the rising popularity of smokeless tobacco products, distribution challenges, and increasing promotional activities by vendors will hamper the market growth. Request Free Sample Report.
APAC will account for 41% of market growth. The main markets in APAC for heat-not-burn tobacco products are Japan and China. This region's market will grow more quickly than other regions' markets. Over the projection period, cost-effectiveness will assist market expansion in APAC. The report extensively covers heat-not-burn tobacco products market segmentation by product (devices, capsules, and vaporizers) and geography (APAC, North America, Europe, South America, and MEA).
The capsules sector will significantly increase its market share of heat-not-burn tobacco products. The second-largest product category on the global market is heat-not-burn tobacco capsules. The market for heat-not-burn tobacco capsules is highly consolidated, with only a few local and international suppliers.
The global market for heat-not-burn tobacco capsules will expand during the projected period as a result of rising organized retailing outlets around the world and increased consumer awareness of the benefits of utilizing heat-not-burn tobacco products. Buy Sample Report.
The market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.?
Companies Covered:
Altria Group Inc.
Ballantyne Brands LLC
British American Tobacco Plc
Imperial Brands Plc
Japan Tobacco Inc.
Korea Tobacco & Ginseng Corp.
PAX Labs Inc.
Philip Morris International Inc.
Shenzhen Yukan Technology Co. Ltd.
Vapor Tobacco Manufacturing LLC
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Download Free Sample Report.
What our reports offer:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Related Reports:
Medical Marijuana Market by Application and Geography - Forecast and Analysis 2022-2026: The medical marijuana market share is expected to increase by USD 14.47 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.91%.
E-cigarette Market by Product and Geography - Forecast and Analysis 2022-2026: The e-cigarette market share is expected to increase to USD 15.57 billion from 2021 to 2026, at an accelerating CAGR of 11.2%.
Heat-not-burn Tobacco Products Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 26.21%
Market growth 2021-2025
$ 22.22 billion
Market structure
Concentrated
YoY growth (%)
20.91
Regional analysis
APAC, North America, Europe, South America, and MEA
Performing market contribution
APAC at 41%
Key consumer countries
US, Japan, Italy, and China
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Altria Group Inc., Ballantyne Brands LLC, British American Tobacco Plc, Imperial Brands Plc, Japan Tobacco Inc., Korea Tobacco & Ginseng Corp., PAX Labs Inc., Philip Morris International Inc., Shenzhen Yukan Technology Co. Ltd., and Vapor Tobacco Manufacturing LLC
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 86: Validation techniques employed for market sizing
Exhibit 87: Information sources
11.4 List of abbreviations
Exhibit 88: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Gritstone bio, Inc. between March 9, 2023 and February 29, 2024, both dates inclusive (the "Class Period"), of the important August 6, 2024 lead plaintiff...
The global feminine hygiene wash market size is estimated to grow by USD 124.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 5.17% during the forecast period. Advertising and promotion of...
The global marine loading arms market size is estimated to grow by USD 65.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 3.43% during the forecast period. Rise in demand for oil and gas...
The global payment gateways market size is estimated to grow by USD 11.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 13.42% during the forecast period. High adoption of contactless payment...
The global wellness real estate market size is estimated to grow by USD 1.26 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 32.14% during the forecast period. Rising demand for wellness real estate from...
Navidea Biopharmaceuticals, Inc. ("Navidea" or the "Company"), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, today announced disappointing results of an exploratory analysis conducted on the...