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Heat-Not-Burn Tobacco Products Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 126
  • SKU: IRTNTR40530
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The heat-not-burn tobacco products market share is expected to increase by USD 22.22 bn from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 26.21%.

This heat-not-burn tobacco products market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers heat-not-burn tobacco products market segmentations by product (devices, capsules, and vaporizers) and geographic (APAC, North America, Europe, and South America).The heat-not-burn tobacco products market report also offers information on several market vendors, including Altria Group Inc., Ballantyne Brands LLC, British American Tobacco Plc, Imperial Brands Plc, Japan Tobacco Inc., Korea Tobacco & Ginseng Corp., PAX Labs Inc., Philip Morris International Inc., Shenzhen Yukan Technology Co. Ltd., and Vapor Tobacco Manufacturing LLC among others.

What will the Heat-not-burn Tobacco Products Market Size be During the Forecast Period?

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Heat-not-burn Tobacco Products Market: Key Drivers, Trends, and Challenges

The cost-effectiveness of heat-not-burn tobacco products is notably driving the heat-not-burn tobacco products market growth, although factors such as rising popularity of smokeless tobacco products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the heat-not-burn tobacco products industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Heat-not-burn Tobacco Products Market Driver

The cost-effectiveness of heat-not-burn tobacco products is the key driver to the growth of heat not burn tobacco products market.The cost-effectiveness of heat-not-burn tobacco products is one of the key factors contributing to the heat-not-burn tobacco products market growth.Smoke-free products have seen an increase in demand across different geographical regions.Heat-not-burn tobacco devices and capsules are relatively more economical than conventional tobacco products.Countries raising the taxes on traditional cigarettes make the heat-not-burn tobacco products a cost-effective alternative.

Key Heat-not-burn Tobacco Products Market Trend

Online retailing is the major trend that is fueling the growth of the heat not burn tobacco market.The online distribution channel is witnessing a higher growth rate than the offline distribution channel. E-commerce platforms offer a range of heat-not-burn tobacco products from various brands, which is one of the primary reasons for the popularity of this channel. With the growing trend of online retailing, the sale of e-cigarettes, including heat-not-burn tobacco products, is expected to increase significantly through this channel during the forecast period. Besides, e-commerce platforms offer personalized shopping assistance and suggestions about products in terms of product design, size, and capacity to eject nicotine content while smoking. Thus, consumers increasingly prefer online platforms to purchase products such as heat-not-burn tobacco products. E-commerce vendors allow consumers to compare and collect information about heat-not-burn tobacco products and, at the same time, provide valuable feedback on products through reviews and ratings of previous customers.

Key Heat-not-burn Tobacco Products Market Challenge

The rising popularity of smokeless tobacco products is the major hindrance to the growth of heat not burn tobacco market.The global heat-not-burn tobacco products market is still relatively younger than the markets for smokeless tobacco products like snus, chewing tobacco, moist snuff, and vaping products. Therefore, it becomes imperative for the key vendors in the global heat-not-burn tobacco products market to sell their products with differentiating features and strengthen their customer base by implementing intensive strategies based on consumer engagement.Additionally, heat-not-burn tobacco products are projected to face a tough challenge in developed economies like the UK, the US, and Germany. China is the largest consumer of conventional cigarettes and offers very limited growth potential for heat-not-burn tobacco products. In India, the local variants of smokeless tobacco products include gutkha, khaini, and zarda, which are quite popular among the masses due to a higher rate of affordability and pose a serious threat to the heat-not-burn tobacco products market in India.

This heat-not-burn tobacco products market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes global heat-not-burn tobacco products market is a part of the global tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the heat-not-burn tobacco products market during the forecast period.

Who are the Major Heat-not-burn Tobacco Products Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Altria Group Inc.
  • Ballantyne Brands LLC
  • British American Tobacco Plc
  • Imperial Brands Plc
  • Japan Tobacco Inc.
  • Korea Tobacco & Ginseng Corp.
  • PAX Labs Inc.
  • Philip Morris International Inc.
  • Shenzhen Yukan Technology Co. Ltd.
  • Vapor Tobacco Manufacturing LLC

 

This statistical study of the heat-not-burn tobacco products market encompasses successful business strategies deployed by the key vendors. The heat-not-burn tobacco products market is concentrated and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The heat-not-burn tobacco products market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Heat-not-burn Tobacco Products Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the heat-not-burn tobacco products market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global tobacco market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Heat-not-burn Tobacco Products Market?

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41% of the market’s growth will originate from APAC during the forecast period.Japan and China are the key markets for heat-not-burn tobacco products in APAC. Market growth in this region will be faster than the growth of the market in regions.

Cost-effectiveness will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Heat-not-burn Tobacco Products Market?

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The heat-not-burn tobacco products market share growth by the capsules segment will be significant during the forecast period. The heat-not-burn tobacco capsules constitute the second-largest product segment in the global market. The global heat-not-burn tobacco capsules market is highly concentrated with the presence of a few regional and global vendors. The growing consumer awareness about the positive effects of using heat-not-burn tobacco products and the rising number of organized retailing outlets worldwide will drive the growth of the global heat-not-burn tobacco capsules market during the forecast period.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the heat-not-burn tobacco products market size and actionable market insights on post COVID-19 impact on each segment.

 

Heat-not-burn Tobacco Products Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 26.21%

Market growth 2020-2024

USD 22.22 billion

Market structure

Concentrated

YoY growth (%)

20.91

Regional analysis

APAC, North America, Europe, and South America

Performing market contribution

APAC at 41%

Key consumer countries

US, Japan, Italy, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Altria Group Inc., Ballantyne Brands LLC, British American Tobacco Plc, Imperial Brands Plc, Japan Tobacco Inc., Korea Tobacco & Ginseng Corp., PAX Labs Inc., Philip Morris International Inc., Shenzhen Yukan Technology Co. Ltd., and Vapor Tobacco Manufacturing LLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Heat-not-burn Tobacco Products Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive heat-not-burn tobacco products market growth during the next five years
  • Precise estimation of the heat-not-burn tobacco products market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the heat-not-burn tobacco products industry across APAC, North America, Europe, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of heat-not-burn tobacco products market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Tobacco market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces analysis 2020 & 2025
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Devices - Market size and forecast 2020-2025
      • Exhibit 17: Devices - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Devices - Year-over-year growth 2020-2025 (%)
    • 5.4 Capsules - Market size and forecast 2020-2025
      • Exhibit 19: Capsules - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Capsules - Year-over-year growth 2020-2025 (%)
    • 5.5 Vaporizers - Market size and forecast 2020-2025
      • Exhibit 21: Vaporizers - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Vaporizers - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 23: Market opportunity by Product

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 27: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 North America - Market size and forecast 2020-2025
      • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
    • 7.5 Europe - Market size and forecast 2020-2025
      • Exhibit 31: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: Europe - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 35: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Stringent regulations on heat-not-burn tobacco products worldwide
          • Exhibit 39: Impact of drivers and challenges
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • Exhibit 40: Vendor landscape
          • 9.2 Landscape disruption
            • Exhibit 41: Landscape disruption
            • Exhibit 42: Industry risks

          10 Vendor Analysis

          • 10.1 Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 44: Market positioning of vendors
            • 10.3 Altria Group Inc.
              • Exhibit 45: Altria Group Inc. - Overview
              • Exhibit 46: Altria Group Inc. - Business segments
              • Exhibit 47: Altria Group Inc. - Key offerings
              • Exhibit 48: Altria Group Inc. - Segment focus
            • 10.4 British American Tobacco Plc
              • Exhibit 49: British American Tobacco Plc - Overview
              • Exhibit 50: British American Tobacco Plc - Business segments
              • Exhibit 51: British American Tobacco plc - Key news
              • Exhibit 52: British American Tobacco Plc - Key offerings
              • Exhibit 53: British American Tobacco Plc - Segment focus
            • 10.5 Fog and Frog Technology (Shenzhen) Co. Ltd.
              • Exhibit 54: Fog and Frog Technology (Shenzhen) Co. Ltd. - Overview
              • Exhibit 55: Fog and Frog Technology (Shenzhen) Co. Ltd. - Product and service
              • Exhibit 56: Fog and Frog Technology (Shenzhen) Co. Ltd. - Key offerings
            • 10.6 Imperial Brands Plc
              • Exhibit 57: Imperial Brands Plc - Overview
              • Exhibit 58: Imperial Brands Plc - Business segments
              • Exhibit 59: Imperial Brands Plc - Key offerings
              • Exhibit 60: Imperial Brands Plc - Segment focus
            • 10.7 Japan Tobacco Inc.
              • Exhibit 61: Japan Tobacco Inc. - Overview
              • Exhibit 62: Japan Tobacco Inc. - Business segments
              • Exhibit 63: ?Japan Tobacco Inc. - Key news
              • Exhibit 64: Japan Tobacco Inc. - Key offerings
              • Exhibit 65: Japan Tobacco Inc. - Segment focus
            • 10.8 KT and G Corp.
              • Exhibit 66: KT and G Corp. - Overview
              • Exhibit 67: KT and G Corp. - Business segments
              • Exhibit 68: KT and G Corp. - Key offerings
              • Exhibit 69: KT and G Corp. - Segment focus
            • 10.9 Mysmok Electronic Technology Co. Ltd.
              • Exhibit 70: Mysmok Electronic Technology Co. Ltd. - Overview
              • Exhibit 71: Mysmok Electronic Technology Co. Ltd. - Product and service
              • Exhibit 72: Mysmok Electronic Technology Co. Ltd. - Key offerings
            • 10.10 Pax Labs Inc.
              • Exhibit 73: Pax Labs Inc. - Overview
              • Exhibit 74: Pax Labs Inc. - Product and service
              • Exhibit 75: Pax Labs Inc. - Key offerings
            • 10.11 Philip Morris International Inc.
              • Exhibit 76: Philip Morris International Inc. - Overview
              • Exhibit 77: Philip Morris International Inc. - Business segments
              • Exhibit 78: Philip Morris International Inc. - Key news
              • Exhibit 79: Philip Morris International Inc. - Key offerings
              • Exhibit 80: Philip Morris International Inc. - Segment focus
            • 10.12 Shenzhen Yukan Technology Co. Ltd.
              • Exhibit 81: Shenzhen Yukan Technology Co. Ltd. - Overview
              • Exhibit 82: Shenzhen Yukan Technology Co. Ltd. - Product and service
              • Exhibit 83: Shenzhen Yukan Technology Co. Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 84: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 85: Research Methodology
                • Exhibit 86: Validation techniques employed for market sizing
                • Exhibit 87: Information sources
              • 11.4 List of abbreviations
                • Exhibit 88: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The heat-not-burn tobacco products market market growth will increase by $22.22 billion during 2020-2024.
              The heat-not-burn tobacco products market market is expected to grow at a CAGR of 26.21% during 2020-2024.
              Technavio has segmented the heat-not-burn tobacco products market market by product (Devices, Capsules, and Vaporizers) ,application (APAC, North America, Europe, MEA, and South America) , and geographic (APAC, North America, Europe, and South America).
              Altria Group Inc., Ballantyne Brands LLC, British American Tobacco Plc, Imperial Brands Plc, Japan Tobacco Inc., Korea Tobacco & Ginseng Corp., PAX Labs Inc., Philip Morris International Inc., Shenzhen Yukan Technology Co. Ltd., Vapor Tobacco Manufacturing LLC are a few of the key vendors in the heat-not-burn tobacco products market market.
              APAC will register the highest growth rate of 41.15% among the other regions. Therefore, the heat-not-burn tobacco products market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the heat-not-burn tobacco products market market growth are:
              • Cost-effectiveness of heat-not-burn tobacco products
              • Online retailing
              The heat-not-burn tobacco products market market vendors should focus on grabbing business opportunities from the devices segment as it accounted for the largest market share in the base year.
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