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Heat-not-burn Tobacco Products Market worth $24.86 billion by 2030, growing at a CAGR of 15.92% - Exclusive Report by 360iResearch
Heat-not-burn Tobacco Products Market | 360iResearch
The Global Heat-not-burn Tobacco Products Market to grow from USD 8.83 billion in 2023 to USD 24.86 billion by 2030, at a CAGR of 15.92%.
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Heat-not-burn tobacco products or smokeless products are electronic gadgets containing tobacco with low nicotine content and fewer chemicals. These products are designed to heat tobacco without combustion, producing an aerosol containing fewer harmful chemicals than traditional cigarettes. These products are a smoking alternative that heats rather than burns tobacco to generate an inhalable aerosol. Unlike traditional cigarettes, heat-not-burn tobacco products generate minimal smoke and do not produce ash, offering a smokeless experience that can be more convenient and less intrusive to others in the surrounding environment. Governments worldwide are increasingly implementing cigarette prohibition acts and imposing higher taxes to tackle public health issues which have fueled the market growth. Rising awareness regarding the harmful side effects of traditional cigarettes has led to a significant shift in public perception that significantly drives the market. However, the strict regulations on the distribution of these products and the rising adoption of e-cigarettes have restricted the adoption of heat-not-burn tobacco products. Online sales and marketing promotions for heat-not-burn tobacco products have been experiencing significant growth in recent years, which is expected to create a lucrative opportunity in the forecast period.
The heat-not-burn tobacco products market in the Americas has experienced significant growth in recent years. This growth is attributed to increasing consumer interest in alternative tobacco products and the perceived reduced harm compared to traditional cigarettes. Moreover, the heat-not-burn tobacco products market is becoming increasingly competitive in the Americas as more companies introduce new products to cater to diverse consumer preferences. The APAC region represents a significant market opportunity for heat-not-burn tobacco products due to its large population, high prevalence of smoking, and increasing health consciousness among consumers. Companies in the APAC region are introducing innovative product variations, expanding distribution networks, and investing in marketing campaigns to capture the growing consumer demand. The heat-not-burn tobacco products market in EMEA is growing due to increasing consumer interest in alternative tobacco products, the potential perception of reduced harm compared to traditional cigarettes, and evolving regulatory environments.
Market Segmentation & Coverage:
This research report categorizes the Heat-not-burn Tobacco Products Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product Type, market is studied across Heat-not-burn Tobacco Capsules, Heat-not-burn Tobacco Devices, and Heat-not-burn Tobacco Vaporizers. The Heat-not-burn Tobacco Capsules commanded largest market share of 36.68% in 2023, followed by Heat-not-burn Tobacco Vaporizers.
Based on Distribution Channel, market is studied across Online and Retail Store. The Retail Store is further studied across Convenience Store, Drug Store, Grocery Store, Newsstand, and Tobacconist Store. The Retail Store commanded largest market share of 58.17% in 2023, followed by Online.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 38.07% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Heat-not-burn Tobacco Products Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Heat-not-burn Tobacco Products Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Heat-not-burn Tobacco Products Market, highlighting leading vendors and their innovative profiles. These include Altria Group, Inc., Aspire by Shenzhen Eigate Technology Co., Ltd., British American Tobacco PLC, Broad Far Hong Kong Limited, Ccobato (Shenzhen) Technology Co., Ltd., Cerulean by Coesia S.p.A., Essentra PLC, Hanwa Biotech (Dongguan) Co., LTD., HEECHI Group, Imperial Brands PLC, Japan Tobacco Inc., Joyetech Group., Kandypens Inc., KT&G Corporation, Maskking (Shenzhen) Technology Co., Ltd., Mysmok Electronic Technology Co., Ltd., PAX Labs, Inc., Pluscig by Shenzhen Simeiyue Technology Co., Ltd, Shenzhen Dorteam Technology Co., Ltd., Shenzhen Ruigu Technology Co., Ltd., Shenzhen Yukan Technology Co., Ltd., Sixhill by ShenZhen Union Technology Development Co.,Ltd., SLANG Worldwide Inc., SMISS Technology Co., Ltd., Smoore International Holdings Limited, Taat Global Alternatives Inc., UWOO, Yunnan Xike Science & Technology Co., Ltd., and Zhengde Hanyuan (Shenzhen) Technology Co., Ltd.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Heat-not-burn Tobacco Products Market, by Product Type
7. Heat-not-burn Tobacco Products Market, by Distribution Channel
8. Americas Heat-not-burn Tobacco Products Market
9. Asia-Pacific Heat-not-burn Tobacco Products Market
10. Europe, Middle East & Africa Heat-not-burn Tobacco Products Market
11. Competitive Landscape
12. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Heat-not-burn Tobacco Products Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Heat-not-burn Tobacco Products Market?
3. What is the competitive strategic window for opportunities in the Heat-not-burn Tobacco Products Market?
4. What are the technology trends and regulatory frameworks in the Heat-not-burn Tobacco Products Market?
5. What is the market share of the leading vendors in the Heat-not-burn Tobacco Products Market?
6. What modes and strategic moves are considered suitable for entering the Heat-not-burn Tobacco Products Market?
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