Press release
Global Hot Tobacco Products Market - By Top Players, Latest Trends, Demand Analysis and Forecast To 2023
Hot Tobacco Products Market
The global hot tobacco products market is expected to decline from $8.00 billion in 2019 and to $7.68 billion in 2020 at a compound annual growth rate (CAGR) of -4.04%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $21.58 billion in 2023 at CAGR of 41.11%.
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The hot tobacco products market consists of sales of hot tobacco products and its related services. Hot tobacco is also known as heated tobacco or heat-not-burn tobacco or hybrid tobacco. Heated Tobacco Products (HTPs) produce aerosols containing nicotine and other chemicals, which are inhaled by users through the mouth. These use specific tobacco products to be heated at temperatures below combustion levels. Hot tobacco products release flavors with nicotine and allow the user to enjoy tobacco without combustion.
The increasing popularity of e-cigarettes is projected to limit the growth of the hot tobacco market. E-cigarettes are battery-powered devices and are considered less harmful as they do not contain tobacco. These devices vaporize liquid which contains nicotine to imitate conventional smoking. According to BBC News published in 2019, the e-cigarette market is expanding and the spending on e-cigarettes reached $ 6.9 billion in 2013 to $ 19.3 billion in 2018. Moreover, the demand for vape products including e-cigarettes, e-hookahs, tank systems, vape pens, and mods is likely to take over the share of the hot tobacco products market. According to the World Health Organization (WHO), the number of vapers is rapidly growing from 7 million in 2011 to 41 million in 2018. Thus, the growing popularity of vape products and e-cigarettes are projected to hinder the growth of the hot tobacco products market in the near future.
Hot Tobacco Products Market Segmentation: -
By Product Type
HNB Tobacco Devices
Direct/Indirect Heating HnB Tobacco
Infused/Hybrid HnB Tobacco Devices
HNB Tobacco Consumables
HNB Tobacco Sticks
HNB Tobacco Capsules & Cartridges
By Type
Devices
Capsules
Vaporizers
By Distribution Channel
Retail Stores
Online Websites
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Few Points From Table Of Content
1. Executive Summary
2. Hot Tobacco Products Market Characteristics
3. Hot Tobacco Products Market Size And Growth
4. Hot Tobacco Products Market Segmentation
5. Hot Tobacco Products Market Regional And Country Analysis
......
25. Hot Tobacco Products Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Hot Tobacco Products Market
27. Hot Tobacco Products Market Trends And Strategies
28. Hot Tobacco Products Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Hot Tobacco Products Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Hot Tobacco Products Market are Philip Morris International, Japan Tobacco International (JTI), British American Tobacco, Imperial Brands, KT&G Corp., Eli Lilly and Company, RJ Reynolds Vapor Company (RJRVC), Shenzhen AVBAD Technology Company Ltd., Pax Labs, Vapor Tobacco Manufacturing
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