Heat-not-Burn Tobacco Products (or Heated Tobacco Products) market is projected to grow at a CAGR of 23.06% during the forecast period, reaching a total market size of US$22.012 billion in 2024 from US$6.339 billion in 2018. ‘Heat not burn’ or ‘heated tobacco’ products are electronic devices that, unlike e-cigarettes, contain tobacco leaf and heat it to a high temperature by using electricity, without setting it alight. The devices heat tobacco to 350C (662F), far lower than traditional cigarettes that burn at temperatures up to 900C (1,652F). The heat produces a vapor that contains nicotine, chemicals, and other tobacco particles, also found in traditional tobacco smoke but in higher values. The market for heat not burn tobacco products is augmented by the increasing demand for tobacco products and increasing awareness about the use of no smoke tobacco products. Additionally, the high advertising and promotion by the companies is also boosting the market demand. Moreover, the increasing investment in research and development is also supporting the market growth. However, the various legislation and regulatory responses and the lack of scientific evidence regarding heat not burn tobacco products is a concern for the market.
The “Heat Not Burn Tobacco Products Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, distribution channel and geography.
The heat not burn tobacco products market has been segmented based on type, distribution channel and geography. The market is segmented as flame-activated HTPs and electronic HTPs on the basis of type. Based on distribution channel, the market is classified as online and offline.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the heat not burn tobacco products market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the heat not burn tobacco products market.
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