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Heat-Not-Burn Tobacco Products Market Research Report by Technavio predicts USD 22.22 Bn growth -- 20.91% YOY growth achieved in 2021

NEW YORK, Aug. 8, 2022 /PRNewswire/ -- The heat-not-burn tobacco products market is growing at a CAGR of 26.21% and is expected to register an incremental growth of USD 22.22 billion between 2020 and 2025. The report analyses the market size and growth. It also provides accurate predictions on the growth of the market.

Technavio has announced its latest market research report titled Heat-Not-Burn Tobacco Products Market by Product and Geography - Forecast and Analysis 2021-2025

  • The report recognizes the following as the key players in the heat-not-burn tobacco products market Altria Group Inc., Ballantyne Brands LLC, British American Tobacco Plc, Imperial Brands Plc, and Japan Tobacco Inc. among others.
  • The heat-not-burn tobacco products market structure is concentrated in nature.
  • The devices segment will have a significant share in the heat-not-burn tobacco products market.
  • The market observed 20.91% YOY growth in 2021. View Sample Report Here.

The heat-not-burn tobacco products market is segmented by product (devices, capsules, and vaporizers)

The devices segment was the largest product segment in the global heat-not-burn tobacco products market in 2021. The segment is driven by the increasing number of test launches of heat-not-burn tobacco devices in different countries of the world. The market growth in the segment will be significant during the forecast period.

By region, the market will observe substantial growth in APAC during the forecast period. The region has a high concentration of regional and global vendors. In addition, the rising number of consumers in APAC opting for less harmful tobacco products is creating huge growth opportunities for vendors operating in the region.

Identify potential segments and regions to invest in over the forecast period. Read Sample Report Now

The heat-not-burn tobacco products market is expected to witness substantial growth during the forecast period, primarily due to the cost-effectiveness of heat-not-burn tobacco products. Heat-not-burn tobacco devices and capsules are becoming more economical than conventional tobacco products. This is due to the raising of taxes on traditional cigarettes, leading to a considerable increase in their prices. Hence, many smokers are shifting to e-cigarettes, including heat-not-burn tobacco products. These products have emerged as a cost-effective option for price-sensitive consumers, thereby increasing their adoption. All these factors are expected to drive the growth of the heat-not-burn tobacco product market during the forecast period.

The report also covers information on the upcoming trends and challenges that will influence the market growth. Enquire Now

The heat-not-burn tobacco products market is concentrated. Vendors in the market are adopting inorganic growth strategies such as mergers and acquisitions to remain competitive in the market. For instance, in March 2021, British American Tobacco plc acquired Organigram Inc. to leverage combined expertise in plant-based science and product development. Similarly, in August 2021, Philip Morris International Inc. acquired OtiTopic to leverage its expertise, scientific know-how, and capabilities in inhalation. In July 2021, the company acquired Fertin Pharma to become a majority smoke-free business by 2025 and create growth opportunities beyond nicotine. Many such developments are expected to intensify the competition in the market over the forecast period.

Here are some of the products offered by key vendors:

Altria Group Inc.: The company offers Iqos as its key product.

Ballantyne Brands LLC: The company offers HAUS Heat Not Burn Starter Kit as its key product.

British American Tobacco Plc: Key products offered by the company include glo and neo.

Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the heat-not-burn tobacco products market report: 

 Regional Analysis 

  •  Further breakdown of the market segmentation at requested regions. 

 Market Player Information 

  • Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
  • Know the strategies adopted by vendors during the recovery phase. Speak to Our Analyst Now

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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

USD 22.22 billion

Market structure

Concentrated

YoY growth (%)

20.91

Regional analysis

APAC, North America, Europe, and South America

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, market condition analysis for 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

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Tobacco market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
  • 3.4 Market outlook: Forecast for 2020 - 2025
    • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
    • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

  • 4.1 Five forces analysis 2020 & 2025
    • Exhibit 08: Five forces analysis 2020 & 2025
  • 4.2 Bargaining power of buyers
    • Exhibit 09: Bargaining power of buyers
  • 4.3 Bargaining power of suppliers
    • Exhibit 10: Bargaining power of suppliers
  • 4.4 Threat of new entrants
    • Exhibit 11: Threat of new entrants
  • 4.5 Threat of substitutes
    • Exhibit 12: Threat of substitutes
  • 4.6 Threat of rivalry
    • Exhibit 13: Threat of rivalry
  • 4.7 Market condition
    • Exhibit 14: Market condition - Five forces 2020

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 15: Product - Market share 2020-2025 (%)
  • 5.2 Comparison by Product
    • Exhibit 16: Comparison by Product
  • 5.3 Devices - Market size and forecast 2020-2025
    • Exhibit 17: Devices - Market size and forecast 2020-2025 ($ million)
    • Exhibit 18: Devices - Year-over-year growth 2020-2025 (%)
  • 5.4 Capsules - Market size and forecast 2020-2025
    • Exhibit 19: Capsules - Market size and forecast 2020-2025 ($ million)
    • Exhibit 20: Capsules - Year-over-year growth 2020-2025 (%)
  • 5.5 Vaporizers - Market size and forecast 2020-2025
    • Exhibit 21: Vaporizers - Market size and forecast 2020-2025 ($ million)
    • Exhibit 22: Vaporizers - Year-over-year growth 2020-2025 (%)
  • 5.6 Market opportunity by Product
    • Exhibit 23: Market opportunity by Product

6 Customer landscape

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 25: Market share by geography 2020-2025 (%)
  • 7.2 Geographic comparison
    • Exhibit 26: Geographic comparison
  • 7.3 APAC - Market size and forecast 2020-2025
    • Exhibit 27: APAC - Market size and forecast 2020-2025 ($ million)
    • Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
  • 7.4 North America - Market size and forecast 2020-2025
    • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
  • 7.5 Europe - Market size and forecast 2020-2025
    • Exhibit 31: Europe - Market size and forecast 2020-2025 ($ million)
    • Exhibit 32: Europe - Year-over-year growth 2020-2025 (%)
  • 7.6 MEA - Market size and forecast 2020-2025
    • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
    • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
  • 7.7 South America - Market size and forecast 2020-2025
    • Exhibit 35: South America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
  • 7.8 Key leading countries
    • Exhibit 37: Key leading countries
  • 7.9 Market opportunity by geography
    • Exhibit 38: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Stringent regulations on heat-not-burn tobacco products worldwide
    • Exhibit 39: Impact of drivers and challenges
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
    • Exhibit 40: Vendor landscape
  • 9.2 Landscape disruption
    • Exhibit 41: Landscape disruption
    • Exhibit 42: Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 44: Market positioning of vendors
  • 10.3 Altria Group Inc.
    • Exhibit 45: Altria Group Inc. - Overview
    • Exhibit 46: Altria Group Inc. - Business segments
    • Exhibit 47: Altria Group Inc. - Key offerings
    • Exhibit 48: Altria Group Inc. - Segment focus
  • 10.4 British American Tobacco Plc
    • Exhibit 49: British American Tobacco Plc - Overview
    • Exhibit 50: British American Tobacco Plc - Business segments
    • Exhibit 51: British American Tobacco plc - Key news
    • Exhibit 52: British American Tobacco Plc - Key offerings
    • Exhibit 53: British American Tobacco Plc - Segment focus
  • 10.5 Fog and Frog Technology Co. Ltd.
    • Exhibit 54: Fog and Frog Technology Co. Ltd. - Overview
    • Exhibit 55: Fog and Frog Technology Co. Ltd. - Product and service
    • Exhibit 56: Fog and Frog Technology Co. Ltd. - Key offerings
  • 10.6 Imperial Brands Plc
    • Exhibit 57: Imperial Brands Plc - Overview
    • Exhibit 58: Imperial Brands Plc - Business segments
    • Exhibit 59: Imperial Brands Plc - Key offerings
    • Exhibit 60: Imperial Brands Plc - Segment focus
  • 10.7 Japan Tobacco Inc.
    • Exhibit 61: Japan Tobacco Inc. - Overview
    • Exhibit 62: Japan Tobacco Inc. - Business segments
    • Exhibit 63: ?Japan Tobacco Inc. - Key news
    • Exhibit 64: Japan Tobacco Inc. - Key offerings
    • Exhibit 65: Japan Tobacco Inc. - Segment focus
  • 10.8 KT and G Corp.
    • Exhibit 66: KT and G Corp. - Overview
    • Exhibit 67: KT and G Corp. - Business segments
    • Exhibit 68: KT and G Corp. - Key offerings
    • Exhibit 69: KT and G Corp. - Segment focus
  • 10.9 Mysmok Electronic Technology Co. Ltd.
    • Exhibit 70: Mysmok Electronic Technology Co. Ltd. - Overview
    • Exhibit 71: Mysmok Electronic Technology Co. Ltd. - Product and service
    • Exhibit 72: Mysmok Electronic Technology Co. Ltd. - Key offerings
  • 10.10 Pax Labs Inc.
    • Exhibit 73: Pax Labs Inc. - Overview
    • Exhibit 74: Pax Labs Inc. - Product and service
    • Exhibit 75: Pax Labs Inc. - Key offerings
  • 10.11 Philip Morris International Inc.
    • Exhibit 76: Philip Morris International Inc. - Overview
    • Exhibit 77: Philip Morris International Inc. - Business segments
    • Exhibit 78: Philip Morris International Inc. - Key news
    • Exhibit 79: Philip Morris International Inc. - Key offerings
    • Exhibit 80: Philip Morris International Inc. - Segment focus
  • 10.12 Shenzhen Yukan Technology Co. Ltd.
    • Exhibit 81: Shenzhen Yukan Technology Co. Ltd. - Overview
    • Exhibit 82: Shenzhen Yukan Technology Co. Ltd. - Product and service
    • Exhibit 83: Shenzhen Yukan Technology Co. Ltd. - Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Currency conversion rates for US$
    • Exhibit 84: Currency conversion rates for US$
  • 11.3 Research methodology
    • Exhibit 85: Research Methodology
    • Exhibit 86: Validation techniques employed for market sizing
    • Exhibit 87: Information sources
  • 11.4 List of abbreviations
    • Exhibit 88: List of abbreviations
About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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