Technavio Heated and Unburned Tobacco Products Market Research Report Forecasts $22.22 Billion Growth – 20.91% YoY Growth Achieved in 2021

NEW YORK, August 8, 2022 /PRNewswire/ — The Combustionless Heated Tobacco Products Market is Growing at a CAGR of 26.21% and Expected to Record a Gradual Growth of $22.22 billion between 2020 and 2025. The report analyzes the size and growth of the market. It also provides accurate predictions about market growth.

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 players as the major players in the smokeless tobacco products market: Altria Group Inc., Ballantyne Brands LLC, British American Tobacco Plc, Imperial Brands Plc, and Japan Tobacco Inc., among others.

  • The structure of the combustion-free heated tobacco products market is concentrated in nature.

  • The device segment will have a major share in the smokeless tobacco product market.

  • The market observed an annual growth of 20.91% in 2021. See a sample report here.

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

The device segment was the largest product segment in the global smokeless tobacco product market in 2021. The segment is driven by the growing number of trial launches of smokeless tobacco devices in different countries across the globe. Market growth in the segment will be significant over the forecast period.

By region, the market will witness substantial growth in APAC over the forecast period. The region has a high concentration of regional and global suppliers. Additionally, the growing number of APAC consumers switching to less harmful tobacco products is creating huge growth opportunities for sellers operating in the region.

Identify potential segments and regions to invest in during the forecast period. Read sample report now

The non-combustion heated tobacco products market is expected to witness substantial growth over the forecast period, primarily driven by the cost-effectiveness of non-combustion heated tobacco products. Heat-not-burn tobacco devices and capsules are becoming more economical than conventional tobacco products. This is due to the increase in taxes on traditional cigarettes, leading to a considerable increase in their prices. Therefore, many smokers turn to electronic cigarettes, including tobacco products that do not heat up. These products have become a cost-effective option for price-sensitive consumers, increasing their adoption. All these factors are expected to drive the growth of the heated no-burn tobacco products market over the forecast period.

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

The market for heatless tobacco products is concentrated. Market vendors are adopting inorganic growth strategies such as mergers and acquisitions to stay competitive in the market. For example, in March 2021, British American Tobacco plc acquired Organigram Inc. to leverage its combined expertise in plant science and product development. Likewise, in August 2021, Philip Morris International Inc. acquired OtiTopic to leverage its expertise, scientific know-how and inhalation capabilities. In July 2021, the company acquired Fertin Pharma to become a majority smoke-free company 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 the main suppliers:

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

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

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

Along with market data, Technavio offers customizations according to specific business needs. The following customization options are available for the Heated Without Burning Tobacco Products market report:

Regional analysis

Information on market players

  • Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.

  • Know the strategies adopted by sellers during the recovery phase. Talk to our analyst now

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Scope of the Heat-without-Burn Tobacco Products Market

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 26.21%

Market Growth 2021-2025

$22.22 billion

Market structure

Concentrate

Annual growth (%)

20.91

Regional analysis

APAC, North America, Europe and South America

Successful market contribution

APAC at 41%

Main consumer countries

United States, Japan, Italy and China

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

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 Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents:

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier Landscape

10 Vendor Analysis

11 Appendix

About Technavio

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

contacts

Technavio Research
Jesse Maida
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E-mail: [email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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