Next Generation Tobacco Product Market A New Era of Tobacco? The Booming Next-Generation Tobacco Product Market

Next Generation Tobacco Product Market worth $ 67.38 Billion by 2030 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Next Generation Tobacco Product Market- by Device Type (e-Cigarettes, Vaps, Mods, e-Hookahs, Pens, and Other Device Type), System (Open Vaping System, Closed Vaping System, Semi-Closed System, and Other System), Product Type (Tobacco Heating Products, Vapour Products, Snus Products, and Other Product Types),

Component (Atomizer, Vape Mod, Cartomizer, E-liquid, Battery, and Other Component), Distribution Channel (Online Buying, Retail Stores, Convenience Store, Drug Store, Newsstand, Tobacconist Store, Specialty E-cigarette Store, and Other Distribution Channel), Age Group (18-30 Age Group, 31-44 Age Group, 45-60 Age Group, 61 & Above Age Group), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

Get a free sample copy of the report: https://www.insightaceanalytic.com/request-sample/1201

According to the latest research by InsightAce Analytic, the global Next Generation Tobacco Product market is valued at US$ 24.83 Billion in 2021, and it is expected to reach US$ 67.38 Billion by 2030, with a CAGR of 11.8% during a forecast period of 2024-2031.

Nicotine, the addictive substance in tobacco products, is a major obstacle for smokers seeking to quit. According to the World Health Organization (WHO), tobacco use is responsible for over 8 million deaths globally each year. To combat this alarming statistic, tobacco manufacturers are developing next-generation tobacco products (NGTPs) aimed at reducing the health risks associated with traditional cigarettes.

NGTPs, including electronic cigarettes (e-cigarettes), heated tobacco products, and snus, function by delivering nicotine without the combustion of tobacco. This eliminates the inhalation of many harmful toxins present in cigarette smoke, potentially lowering the risk of tobacco-related diseases.

The market for NGTPs is experiencing significant growth due to several factors:
• Reduced harm potential: The perceived lower health risks compared to cigarettes are driving consumer interest in NGTPs.

• Product innovation: The rapid development and commercialization of new NGTPs, such as various e-cigarette devices and flavors, is fueling market expansion.

• Increased consumer awareness: Growing public knowledge about the dangers of traditional cigarettes and the potential benefits of NGTPs is influencing consumer preferences.

• Shifting consumer preferences: A trend towards seeking less harmful tobacco alternatives is creating a market opportunity for NGTPs.

• Rising disposable income: Increased consumer spending power allows for greater exploration of new products like NGTPs.

However, it's crucial to note that the long-term health effects of NGTPs are still under investigation. Additionally, concerns exist regarding the potential for NGTPs to act as a gateway for non-smokers, particularly adolescents, to become addicted to nicotine.

Despite these concerns, the next-generation tobacco product market is anticipated to continue growing in the coming years.

The Asia Pacific is anticipated to be the major contributor to the Next Generation Tobacco Product market over the forecast years due to increased public knowledge of Next-Generation Tobacco Products, rising government funding in Tobacco Product Research and Development,

the rising rate of tobacco cessation, and significant demand for E-Cigarettes and Vapes. In addition, the North America Next Generation Tobacco Product market is expected to grow significantly during the forecast period, considering expanding investments in future products, rising demand for tobacco products, and rising prevalence of diseases linked to smoking.

Major market players operating in the Next Generation Tobacco Product market include China National Tobacco Corporation, Davidoff, Dharampal Satyapal, DS Group, Eastern Tobacco Company, Fiedler & Lundgren AB, FIN Branding Group LLC., Gajane AB, Global Horizon Ventures Limited (GHVL), GN Tobacco Sweden AB, Gotlands Snus AB, Gudang Garam, Hay Island Holding Corporation, Healthier Choices Management Corp (Ruthless Vapor Corp), Adris grupa, Altadis, Altria Group Inc., American electronic cigarette company, Arnold André GmbH & Co. KG, British American Tobacco (BAT), House of Oliver Twist A/S, Imperial Brands, Indian Tobacco Company (ITC) Limited.,

International Vapor Group, ITC Limited, J Well France, Japan Tobacco Inc., JT International AG, Juul Labs Inc, Korea Tobacco (KT&G), Rothmans, Ruyan, Sarajevo Tobacco Factory, Scandinavian Tobacco Group, Swedish Match AB, Swisher, Taboca AS, Turning Point Brands, Universal Corporation, V2 Tobacco, Vapor Hub International, Inc., Lorillard Tobacco Company, MAHAK Group, Manikchand Group, MCIG Inc., Mighty, Nerudia, Nicotek Llc., NJOY Inc, P.T. Karyadibya Mahardhika, Pax Labs, Philip Morris International (PMI), Ploom TECH, R.J. Reynolds Vapor Company, Reemtsma Cigarettenfabriken GmbH, Reynolds American Inc., VMR Products LLC, and other prominent products.

Recent collaborations and agreements in the market:
• In October 2021, The Food and Drug Administration allowed electronic cigarettes and associated products to continue to be sold in the US. Tobacco-flavoured e-liquid pods and the Vuse Solo electronic nicotine delivery system device from R.J. Reynolds Vapor Company has been approved.

• In July 2021, Fertin Pharma A/S will be purchased by Philip Morris International Inc. (PMI) (Fertin Pharma). PMI will be able to accomplish its goal of boosting net revenues from smoke-free products by offering speed and scalability in oral administration, owing to Fertin's broad portfolio of technologies, expanding business mix, and world-class experience.

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Market Segments
Global Next Generation Tobacco Product Market, by Device Type, 2022-2030 (Value US$ Mn)
• e-Cigarettes
• Vaps
• Mods
• e-Hookahs
• Pens
• Other Device Type

Global Next Generation Tobacco Product Market, by System, 2022-2030 (Value US$ Mn)
• Open Vaping System
• Closed Vaping System
• Semi-Closed System
• Other System

Global Next Generation Tobacco Product Market, by Product Type, 2022-2030 (Value US$ Mn)
• Tobacco Heating Products
• Vapour Products
• Snus Products
• Other Product Type

Global Next Generation Tobacco Product Market, by Component, 2022-2030 (Value US$ Mn)
• Atomizer
• Vape Mod
• Cartomizer
• E-liquid
• Battery
• Other Component

Global Next Generation Tobacco Product Market, by Distribution Channel, 2022-2030 (Value US$ Mn)
• Online Buying
• Retail Stores
• Convenience Store
• Drug Store
• Newsstand
• Tobacconist Store
• Specialty E-cigarette Store
• Other Distribution Channel

Global Next Generation Tobacco Product Market, by Age Group, 2022-2030 (Value US$ Mn)
• 18-30 Age Group
• 31-44 Age Group
• 45-60 Age Group
• 61 & Above Age Group

Global Next Generation Tobacco Product Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Next Generation Tobacco Product Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada

Europe Next Generation Tobacco Product Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Next Generation Tobacco Product Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Next Generation Tobacco Product Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Next Generation Tobacco Product Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Next Generation Tobacco Product market
 To receive an industry overview and future trends of the Next Generation Tobacco Product market
 To analyze the Next Generation Tobacco Product market drivers and challenges
 To get information on the Next Generation Tobacco Product market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Next Generation Tobacco Product market industry

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