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 substitute for conventional cigarettes. Such efforts from vendors are expected to enhance the adoption of heat-not-burn tobacco products among smokers worldwide during the forecast period.
The Heat-not-Burn (HNB) tobacco products market is witnessing a surge in popularity, with capsules and vaporizers leading the way. Supermarkets and tobacco stores are stocking up on these devices, offering smokers an alternative to conventional cigarettes and their harmful chemicals. The HNB sector is growing, as consumers seek lower health risks and smokeless alternatives.
However, prohibition and taxes on HNB products pose challenges for global manufacturers. Traditional cigarette sales are declining, as young populations turn to HNB devices, e-cigarettes, and chewing tobacco. Health bodies warn of dangerous side-effects, including long-term health risks and exposure to toxic substances like tar and nicotine.
Despite these concerns, HNB devices offer harm reduction tactics for smokers. They heat tobacco leaves, releasing nicotine-laced vapor without the harmful chemicals found in cigarette smoke. Medical professionals support the use of electronic devices as a healthier alternative.
The Sticks segment of the market is booming, with flavorful capsules driving sales. Retail stores and online platforms are capitalizing on this trend, offering a wide range of options to health-conscious consumers. However, it's important to note that while HNB devices may present lower health risks than traditional cigarettes, they still contain nicotine and harmful chemicals.
Consumers should make informed choices and consult medical professionals for guidance on their tobacco consumption habits. Explore a 360° Analysis of the Market: Unveil the Impact of AI. For complete insights- Request Sample! Market Challenges The global heat-not-burn tobacco products market is still in its infancy compared to established markets for traditional smokeless tobacco products like snus, chewing tobacco, and moist snuff, as well as the growing vaping industry.
To succeed, key players in the heat-not-burn market must differentiate their offerings and engage consumers through targeted strategies. In the US and North America , snus dominates the smokeless tobacco market, while e-cigarette products are projected to reach USD61.5 billion by 2025.
However, heat-not-burn tobacco products may face challenges in developed markets like the UK, US, and Germany . China , the largest conventional cigarette consumer, offers limited growth potential. In contrast, India's local smokeless tobacco variants, such as gutkha, khaini, and zarda, pose a significant threat due to affordability.
The Heat-Not-Burn (HNB) tobacco products market is witnessing significant growth as smokers seek smokeless alternatives with lower health risks. However, challenges persist in gaining widespread acceptance. Vapor from HNB devices, while less harmful than cigarette smoke, still contains toxic substances like tar and dangerous chemicals.
Health bodies express concerns over long-term health effects. The HNB sector faces competition from e-cigarettes and flavored sticks segment. Retail stores and online platforms are key distribution channels, but medical professionals' recommendations are crucial.
Harm reduction tactics, such as HTP (Heated Tobacco Products) and electronic HTP, offer potential. Supermarkets, hypermarkets, and specialty stores join online retail in catering to health-conscious consumers. The industry must continue addressing health risks associated with processed tobacco and nicotine-laced vapour, while promoting flame-activated HTP and electronic HTP as safer choices.
For more insights on driver and challenges - Request a sample report! Segment Overview This heat-not-burn tobacco products market report extensively covers market segmentation by 1.1 Devices 1.2 Capsules 1.
3 Vaporizers 2.1 Offline 2.2 Online 3.
1 APAC 3.2 North America 3.3 Europe 3.
4 Middle East and Africa 3.5 South America 1.1 Devices- In the global heat-not-burn tobacco products market, devices held the largest product segment share in 2023.
This market was highly concentrated due to the presence of a few major regional and global vendors, such as Philip Morris International's IQOS, British American Tobacco's glo and glo iFuse. The increasing number of test launches of heat-not-burn tobacco devices in various countries and relatively lower consumer expenditure compared to conventional cigarettes are projected to positively impact market growth. IQOS, a popular heat-not-burn tobacco device, works by heating a tobacco unit in its holder, which contains an electronically-controlled heater.
Instead of burning the tobacco, IQOS heats it just enough to release a nicotine-flavored vapor. The tobacco is heated at 662°F without combustion, fire, smoke, or ash, preserving its taste. Consumers draw on the heated tobacco, enjoying the authentic taste, contributing to the expansion of the global heat-not-burn tobacco products market.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report Research Analysis The Heat-Not-Burn (HNB) tobacco products market is gaining popularity as an alternative to conventional cigarettes . These products use electronic devices, such as capsules and vaporizers, to heat tobacco without burning it, producing nicotine-laced vapour instead of cigarette smoke. Supermarkets and tobacco stores are stocking up on these products, making them easily accessible.
However, the HNB sector is not without its challenges. Harmful chemicals and dangerous side-effects, including the presence of nicotine and other chemicals, remain concerns. Prohibition and taxes in some regions may hinder growth.
The young population, who are increasingly health-conscious, may be deterred by the potential risks. Chewing tobacco and other forms of processed tobacco continue to dominate the market. Flavor options and lower health risks are key selling points for HNB products, which are also available on online platforms.
The use of flame-activated HTP and electronic HTP is driving innovation in the sector. Despite these advancements, it's essential to remember that any form of tobacco use carries risks. Market Research Overview The Heat-Not-Burn (HNB) tobacco products market refers to devices that heat tobacco without burning it, producing a vapor instead of smoke.
These devices use capsules filled with processed tobacco. HNB devices include vaporizers and heat-not-burn devices. Supermarkets and tobacco stores are popular retail channels for these products.
While conventional cigarettes contain harmful chemicals and tar, HNB devices are marketed as offering lower health risks. However, they still contain nicotine and dangerous chemicals, and health bodies warn of potential dangerous side-effects, particularly for the young population. The HNB sector includes global manufacturers producing a range of flavors.
Smokers seeking health-conscious choices are turning to these smokeless alternatives, available at retail stores and online platforms. Medical professionals emphasize the importance of understanding the long-term health effects of HNB devices and their impact on the lungs. Electronic cigarettes and heated tobacco devices are part of this sector, with electronic HTP and flame-activated HTP being two types.
HNB products are subject to prohibition and taxes in various regions. Despite the potential health risks, harm reduction tactics are driving the growth of this market. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Product Devices Capsules Vaporizers Distribution Channel Offline Online Geography APAC North America Europe Middle East And Africa South America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio 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. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.
com/ SOURCE Technavio.
