Global Heated Tobacco Products Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Heated Tobacco Products Market” is a recent report generated by MarketResearch.biz. The study and analysis were administered using expert opinions and inputs. This has been done through thorough primary and secondary research efforts to determine various aspects of the heated tobacco products market. The market segmentation allows for deeper thought and understanding to strongly assess, analyze, and study. Besides revenues for segments, the global, regional, and country-wise market revenue segmentation has been compiled in a veracious manner for clear understanding and flow. The global heated tobacco products market report has been segmented on the basis of work-flow, application, end-use, and region.
Global Heated Tobacco Products Market: Overview
Heated Tobacco Products (HTP), also known as heat-not-burn tobacco products are devices that enable heating of the tobacco at comparatively lower temperatures to produce a flavored nicotine vapor. HTPs do not burn tobacco and the presence of harmful chemicals is considerably lower as compared to that of conventional cigarettes. These products produce aerosols that contain nicotine and other chemicals, that is then inhaled by the end-user. Heated Tobacco Products are highly addictive substances. These products act as an alternative to conventional cigarettes for end-users and emulate the behavioral aspects of a traditional cigarette. A few variants of HTPs are specifically modeled like cigarettes wherein tobacco is retained for heating.
Global Heated Tobacco Products Market: Dynamics
Drivers: The market for global heated tobacco products is driven by the reduction in cigarette sales in recent years owing to the rising demand for products that have lower health risks. Rising prohibition on cigarettes and its manufacture across different countries and the growing awareness of the dangerous side-effects of tobacco consumption are driving the growth of this market. HTP devices do not burn tobacco, instead, they implement the use of convective and radiant heat. As such, they can be used for longer periods of time. Factors such as these are expected to lead to increased adoption of heated products among individuals.
Restraints: However, the rising acceptance of e-cigarettes is expected to restrain the adoption of HTPs, thereby, hampering the growth of this market. E-cigarettes do not contain tobacco and are considered to consist of relatively lesser amounts of harmful agents than in a conventional tobacco product. Such advantages are expected to increase the adoption of e-cigarettes and deter the growth of the global heated tobacco market.
Global Heated Tobacco Products Market Segment Analysis:
By Material: The cigarette stick segment held the largest tobacco product market share in 2018. This is attributed to the high adoption of HTPs as a premium product. Moreover, its high prices and the rising demand due to ease-of-use are anticipated to drive increased revenues in the near future. Philips Morris International and Japan Tobacco International are some of the primary manufacturers that operate in this segment. The availability of additives and various flavors apart from the traditional combustible cigarette is expected to fuel the demand for them.
By Distribution Channel: The offline channel held the largest market share in 2018 thanks to easy availability and the convenience of buying these products. The provision of partitioned smoking zones by many public, corporate, and private organizations is anticipated to influence the market’s growth. The availability of a variety of flavors and attractive packaging is expected to contribute to offline sales.
Global Heated Tobacco Products Market Regional Analysis:
The Asia Pacific market is slated to account for the highest revenue share owing to the increased consumption of heated tobacco products in many countries of this region. Rising disposable incomes and changing lifestyles among individuals in this region are some of the major factors contributing to the growth of the market.
The market in Europe is projected to register a high Compounded Annual Growth Rate (CAGR) over the forecast tenure. This can be attributed to the presence of major manufacturers like British American Tobacco, Philips Morris International and Japan Tobacco International in countries like Poland, Italy, Croatia, and Germany.
Global Heated Tobacco Products Market Segmentation:
By Distribution Channel
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Philip Morris International
- British American Tobacco
- Japan Tobacco
- Imperial Brands
- China tobacco
- Korea Tobacco & Ginseng Corporation
- American electronic cigarette company
- VMR ProductsCreative Recreation Solutions (CRS)
- Global Syn-Turf
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