LONDON--(BUSINESS WIRE)--The global heat-not-burn tobacco products market is expected to post a CAGR of over 24% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the cost effectiveness of heat-not-burn tobacco products. Since the year 2014, the cost-effectiveness of these products has been accelerating demand across different geographical regions. Heat-not-burn tobacco devices and capsules are relatively more economical than conventional tobacco products as the increasing taxes on traditional cigarettes have raised their prices considerably. Therefore, heat-not-burn tobacco products are a popular option for millennials and adolescent users as they constitute the most price-sensitive demographic cohort.
This market research report on the global heat-not-burn tobacco products market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing number of mergers and acquisitions by global firms as one of the key emerging trends in the global heat-not-burn tobacco products market:
Global heat-not-burn tobacco products market: increasing number of mergers and acquisitions by global firms
Since 2010, many large vendors in the tobacco market have been focusing on mergers and acquisitions with several small pure-play vendors in the e-cigarette and heat-not-burn tobacco products industries. This helps the large players gain presence in the emerging new generation products market and increase their market share. Several large vendors are expected to acquire small and regional suppliers during the forecast period.
“The market for heat-not-burn tobacco products is anticipated to have an optimistic outlook due to advantages such as less cost, and it being perceived as a safer option as compared to conventional cigarettes,” says a senior analyst at Technavio.
Global heat-not-burn tobacco products market: Segmentation analysis
This market research report segments the global heat-not-burn tobacco products market by product (heat-not-burn tobacco devices, heat-not-burn tobacco capsules, heat-not-burn tobacco vaporizers) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2017 with a market share close to 86% of the market share, followed by EMEA and the Americas respectively. One of the factors contributing to the rise in demand for heat-not-burn products is the perception that these products are a safer alternative to smoking tobacco directly.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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