NEW YORK , Aug. 27, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global heat-not-burn tobacco products market size is estimated to grow by USD 91.26 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of 37.74% during the forecast period. Cost-effectiveness of heat-not-burn tobacco products is driving market growth, with a trend towards increasing promotional activities by vendors.
However, rising popularity of smokeless tobacco products poses a challenge. Key market players include 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 Inc., SLANG Worldwide Inc.
, and Vapor Tobacco Manufacturing. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Market Driver The global heat-not-burn tobacco products market is witnessing innovative marketing and advertising strategies from key players to boost sales and showcase the advantages of using these products. Philip Morris International, for instance, positions its heat-not-burn tobacco offerings as generating flavorful and satisfying nicotine-containing vapor without burning or smoke.
Their campaign focuses on adults aged 35 and above, featuring testimonials from smokers aged 37-54. This initiative aims to attract smokers towards heat-not-burn tobacco products as a s.