The latest report on “Heat-not-burn Tobacco Products Market (Product Type – Heat-not-burn Tobacco Capsules, Heat-not-burn Tobacco Devices, and Heat-not-burn Tobacco Vaporizers): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global heat-not-burn tobacco products market is projected to grow at a CAGR of 25.6% over the forecast period of 2019-2025.
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Growing Awareness Regarding Smoke-Free Products Drives the Growth of the Global Heat-Not-Burn Tobacco Products Market
The tobacco industry has launched heat-not-burn (HNB) tobacco products to respond to the harms of cigarette smoking. For instance, Philip Morris International Launched the World’s Leading Heated-Tobacco Product in the UAE.
The growing awareness regarding smoke-free products drives the growth of the global heat-not-burn tobacco products market. IQOS is the world-leading heated-tobacco product. It is estimated that near about 8.0 million adult smokers around the globe have already stopped smoking and switched to IQOS. Heat-not-burn tobacco extensively reduces the harmful level of nicotine and other toxicants that causes smoking-related diseases such as cancer and heart disease.
Moreover, the increasing acceptance of heat-not-burn tobacco products over the tradition nicotine tobacco products have a positive impact on market growth. The growth of online retailing is one of the major trends in this market that augments market growth over the forecast period. The high rate of deaths occurred owing to smoking habits is another major factor drives the growth of the heat-not-burn tobacco market worldwide.
As per the center of disease control and prevention, it is estimated that tobacco kills more than 8 million people each year tobacco. However, the availability of less harmful alternatives is expected to restrain the market growth. Furthermore, ongoing research and development activity create significant growth opportunities in the market over the forecast period.
Asia-Pacific is Expected to Hold the Highest Market Share
Geographically, the heat-not-burn tobacco products market is segmented into North America, Europe, Asia-Pacific, and RoW. Asia-Pacific is expected to hold the highest market share throughout the forecast period. The factor such as increasing awareness rewarding less harmful tobacco products and an increasing number of new product launches are responsible for the growth of the market. The countries such as Japan and South Korea hold maximum share in this market. Japan and the Republic of Korea have witnessed rapid adoption of IQOS. As per the survey of Japanese adolescents and adults, 48.0% of respondents were aware of heat-not-burn tobacco products.
The report on global heat-not-burn tobacco products market covers segments such as product type. On the basis of product type, the sub-markets include heat-not-burn tobacco capsules, heat-not-burn tobacco devices, and heat-not-burn tobacco vaporizers.
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The report provides profiles of the companies in the market such as Philip Morris International, Pax Labs, British American Tobacco plc, Japan Tobacco Inc., and Vapor Tobacco Manufacturing LLC.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the heat-not-burn tobacco products.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.