LONDON--(BUSINESS WIRE)--The heat-not-burn tobacco products market is poised to grow by USD 22.22 billion during 2020-2024, progressing at a CAGR of over 26% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Heat-Not-Burn Tobacco Products Market Analysis Report by Product (Devices, Capsules, and Vaporizers), Geographic segmentation (North America, APAC, Europe, South America and MEA), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/heat-not-burn-tobacco-products-market-industry-analysis
The market is driven by the cost-effectiveness of heat-not-burn tobacco products. In addition, heat-not-burn tobacco products are relatively safer than conventional cigarettes. This factor is further anticipated to boost the growth of the heat-not-burn tobacco products market.
The demand for smoke-free products such as heat-not-burn tobacco devices and capsules is increasing across different geographical regions because they are relatively more economical than conventional tobacco products. The price of traditional cigarettes has increased considerably as many countries have raised the tax on cigarettes. For instance, as of July 1, 2019, the average state tax on cigarettes in the US was USD 1.81 per pack of the retail price. Consequently, the adoption of e-cigarettes, including heat-not-burn tobacco products among price-sensitive millennials and adolescent consumers, in the US is increasing. Thus, the cost-effectiveness of heat-not-burn tobacco products is expected to drive market growth during the forecast period.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
Major Five Heat-Not-Burn Tobacco Products Market Companies:
Altria Group Inc.
Altria Group Inc. operates the business under various segments such as Smokeable products, Smokeless products, Wine, and All other. The company offers key products such as Iqos and other products.
Ballantyne Brands LLC
Ballantyne Brands LLC offers products through the following business units: E Cigs and Vape Mods. The company offers key products including HAUS Heat Not Burn Starter Kit and others.
British American Tobacco Plc
British American Tobacco Plc operates under various business segments, namely US, APME, AMSSA, and ENA. The company offers key products including glo and neo.
Imperial Brands Plc
Imperial Brands Plc offers products through the following business segments: Tobacco and NGP and Distribution. The company offers key products including Pulze and other heat-not-burn tobacco products.
Japan Tobacco Inc.
Japan Tobacco Inc. offers products through the following business segments: International Tobacco, Japanese Domestic Tobacco, Processed food, and Pharmaceutical. The company offers key products including Ploom TECH and Ploom S.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Heat-Not-Burn Tobacco Products Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Devices
- Capsules
- Vaporizers
Heat-Not-Burn Tobacco Products Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- APAC
- Europe
- South America
- MEA
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Related Reports on Consumer Staples Include:
Roll-Your-Own-Tobacco Products Market – Global Roll-Your-Own-Tobacco Products Market by product (RYO tobacco, filters and tips, and rolling products) and geography (APAC, Europe, MEA, North America, and South America).
Hookah Tobacco Market – Global Hookah Tobacco Market by product (SHT, MHT, and LHT), application (FrHT, BevHT, CfHT, and ScHT), and geography (APAC, Europe, MEA, North America, and South America).
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
