Heat-not-burn Tobacco Products market to grow by USD 42,172.36 Mn, Market segmentation by product, distribution channel, and geography - Technavio
NEW YORK, Dec. 2, 2022 /PRNewswire/ -- The heat-not-burn tobacco products market is projected to grow by USD 42,172.36 million at a CAGR of 27.05% during the forecast period. APAC held the largest share of the market in 2021. The report provides a detailed analysis of the market overview, market drivers, opportunities, and potential applications. Request a Free Sample Report.
The market in focus is concentrated. British American Tobacco Plc Imperial Brands Plc, iSmoke Vapor Inc., Japan Tobacco Inc., JFT Co. Ltd., KT and G Corp., Mysmok Electronic Technology, Pax Labs Inc., Philip Morris International, SLANG Worldwide Inc., and Vapor Tobacco Manufacturing are some of the major market participants.
Although the cost-effectiveness of heat-not-burn tobacco products will offer immense growth opportunities, the rising popularity of smokeless tobacco products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
Key Offerings of Major Vendors
British American Tobacco Plc - The company offers heat-not-burn tobacco products under its brand glo.
Imperial Brands Plc - The company offers heat-not-burn tobacco products under its brand blu.
PAX Labs Inc. - The company offers heat-not-burn tobacco products such as PAX3, PAX2.
Philip Morris International Inc. - The company offers heat-not-burn tobacco products under its brand IQOS.
The devices segment showed a gradual increase in market share with USD 5797.76 millionin 2017 and continued to grow by 2021. A key factor driving the market growth is the increasing number of launches of heat-not-burn tobacco devices in different countries across the world. In addition, the relatively lower cost of heat-not-burn tobacco devices is another factor driving the growth.
Capsules
Vaporizers
ByDistribution Channel
Offline
Online
By Geography
APAC
APAC will account for 42% of the market's growth during the forecast period. In 2021, APAC was the largest regional market for heat-not-burn tobacco products. Over the same period, the heat-not-burn tobacco products market in APAC was highly concentrated due to the presence of a few regional and global vendors. The major markets in APAC with huge potential for heat-not-burn tobacco products include New Zealand, China, South Korea, the Philippines, and Japan.
The heat-not-burn tobacco products report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers, market limitations, and future prospects.
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Heat-not-burn Tobacco Products Market Scope
Report Coverage
Details
Page number
151
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 27.05%
Market growth 2023-2027
USD 42,172.36 million
Market structure
Concentrated
YoY growth 2022-2023 (%)
26.33
Regional analysis
APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution
APAC at 42%
Key countries
US, Japan, China, Italy, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
British American Tobacco Plc, Imperial Brands Plc, iSmoke Vapor Inc., Japan Tobacco Inc., JFT Co. Ltd., KT and G Corp., Mysmok Electronic Technology, Pax Labs Inc., Philip Morris International, SLANG Worldwide Inc., and Vapor Tobacco Manufacturing
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis 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.
Table of Contents:
1 Executive Summary
1.1 Market Overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Product
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Distribution Channel
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market Definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global heat-not-burn tobacco products market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on Global heat-not-burn tobacco products market 2017 - 2021 ($ million)
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