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Heat-Not-Burn Tobacco Products Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 151
  • SKU: IRTNTR40530
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The heat-not-burn tobacco products market is estimated to grow at a CAGR of 27.05% between 2022 and 2027. The size of the market is forecast to increase by USD 42172.36 million. The growth of the market depends on several factors, including the cost-effectiveness of heat-not-burn tobacco products, heat-not-burn tobacco products that are relatively safer than conventional cigarettes, and the growing number of organized retailing outlets.

This report extensively covers market segmentation by product (devices, capsules, and vaporizers), distribution channel (offline and online, and geography (APAC, North America, Europe, Middle East, and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

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

Heat-not-burn Tobacco Products Market Size

Download Report Sample to Unlock Statistics About the Heat-not-burn Tobacco Products Market During the Forecast Period

Parent Market Analysis

Technavio categorizes the global heat-not-burn tobacco products market as a part of the global tobacco market within the overall food, beverage, and tobacco industry. The parent, global tobacco market covers products and companies engaged in the R&D or production of combustible tobacco products such as cigarettes, cigars, and cigarillos; and non-combustible tobacco products such as dissolvable tobacco, oral tobacco, and E-cigarettes. The market also includes legal cannabis and industrial hemp-based products. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

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

The cost-effectiveness of heat-not-burn tobacco products is notably driving the heat-not-burn (HNB) tobacco products market growth, although factors such as the rising popularity of smokeless tobacco products may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.   

Key Heat-not-burn Tobacco Products Market Driver

The cost-effectiveness of heat-not-burn tobacco products is the key factor driving the global HNB tobacco products market growth. Over the past decade, the cost-effectiveness of heat-not-burn tobacco products has been the most important driver that is accelerating the demand for smoke-free products across different geographical regions. Heat-not-burn tobacco devices and capsules are relatively more economical than conventional tobacco products, as many countries are raising the taxes on traditional cigarettes, which has led to a considerable increase in their prices. Therefore, heat-not-burn tobacco products have emerged as a cost-effective option for price-sensitive consumers, thereby increasing their adoption in the US. Heat-not-burn tobacco products have become a cost-effective option for Millennials and adolescent users, who, despite being the most frequent consumers of cigarettes, are the most price-sensitive demographic cohorts as well.

Key Heat-not-burn Tobacco Products Market Trend

The increasing promotional activities by vendors will fuel the global HNB tobacco products market growth. The players in the market are coming up with new marketing and advertising strategies to increase the sales of their products and highlight the various benefits of using heat-not-burn tobacco products. They are resorting to advertising campaigns that encourage people to limit the habit of smoking cigarettes that burn tobacco. For instance, Philip Morris International markets its heat-not-burn tobacco products as 'designed to create a flavorful and satisfying nicotine-containing vapor, without burning and without smoke.' The company claims that this advertisement campaign targets consumers above the age of 35 years and features testimonials from smokers aged 37-54 years. Therefore, the initiatives taken by vendors to promote the consumption of tobacco products with minimal nicotine content are likely to increase the adoption of heat-not-burn tobacco products among smokers across the globe during the forecast period.

Key Heat-not-burn Tobacco Products Market Challenge

The rising popularity of smokeless tobacco products is a major challenge to the global HNB tobacco products market growth. The market is still relatively in the nascent stage when compared with the market for smokeless tobacco products like snus, chewing tobacco, moist snuff, and vaping products. Therefore, it becomes imperative for the key vendors in the market to sell their products with differentiating features and strengthen their customer base by implementing intensive strategies based on consumer engagement. In the US and other North American countries, the major smokeless tobacco products that are highly popular among the masses include snus, moist snuff, and chewing tobacco; snus accounts for a major share of the smokeless tobacco market in the US. In India, the local variants of smokeless tobacco products include gutkha, khaini, and zarda, which are quite popular among the masses due to their comparative affordability, which poses a serious threat to the HNB tobacco products market during the forecast period.

Key Heat-not-burn Tobacco Products Market Customer Landscape

Our analysis of the Life Cycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, Japan, China, Italy, and the UK. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.

Heat-not-burn Tobacco Products Market Share by Geography

Global Heat-not-burn Tobacco Products Market Customer Landscape

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

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product / service launches, to enhance their presence in the market

ismokevapor.com - The company offers heat-not-burn tobacco products such as Lafayette vaping devices. Also, this segment focuses on offering vaping devices and e-liquids.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including :

  • British American Tobacco Plc
  • Imperial Brands Plc
  • Japan Tobacco Inc.
  • JFT Co. Ltd.
  • KT&G Corp.
  • Mysmok Electronic Technology
  • Pax Labs Inc.
  • Philip Morris International
  • SLANG Worldwide Inc.
  • Vapor Tobacco Manufacturing

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Heat-not-burn Tobacco Products Market?

The market share growth by the devices segment will be significant during the forecast period. In 2022, the devices segment was the largest product segment in the HNB tobacco products market. Over the same period, the global heat-not-burn tobacco devices market was highly concentrated due to the presence of a few regional as well as global vendors. Furthermore, heat-not-burn tobacco devices usually comprise starter kits that contain a charger, a device holder, and a heating unit. 

Heat-not-burn Tobacco Products Market Size

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The Devices segment showed a gradual increase in market share with USD 5797.76 million in 2017 and continued to grow by 2021. Factors such as the increasing number of launches of heat-not-burn tobacco devices in different countries across the world and the relatively lower cost of heat-not-burn tobacco devices when compared to conventional cigarettes are projected to have a positive impact on the growth of the global heat-not-burn tobacco devices market during the forecast period. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.

The growth of this segment is primarily attributed to the increasing adoption of Heat-not-burn Tobacco Products, which is driven by an increase in the global demand for the Heat-not-burn Tobacco Products Industry.

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

Heat-not-burn Tobacco Products Market Share by Geography

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APAC is projected to contribute 42% of market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. 

In 2021, APAC was the largest regional market for heat-not-burn tobacco products. Over the same period, the heat-not-burn tobacco products market in APAC was highly concentrated due to the presence of a few regional and global vendors. The major markets in APAC with huge potential for heat-not-burn tobacco products include New Zealand, China, South Korea, the Philippines, and Japan. 

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The outbreak of COVID-19 led to a decline in demand for heat-not-burn tobacco products in APAC.  As COVID-19 has a severe impact on the lungs of people diagnosed with the infection, especially in smokers, several people across APAC were compelled to avoid the consumption of tobacco products in 2020. In addition, governments of countries, including India, China, and Japan, had to impose a lockdown in 2020 to curb the spread of the disease. This, in turn, resulted in a temporary shutdown of several end-user manufacturing industries, including the manufacturing plants for tobacco products, in 2020. However, the lifting of lockdown restrictions in 2021, due to the large-scale vaccination programs conducted across APAC, helped market vendors to resume manufacturing tobacco items to meet the needs of consumers in APAC. In addition, with the reopening of hotels, restaurants, bars, pubs, eateries, and discotheques, the demand for tobacco products among these end-users also increased significantly, driving the growth of the heat-not-burn tobacco products market in APAC further during the forecast period.

Segment Overview

Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, product, distribution channel, and region.

  • Product Outlook (USD Million, 2017 - 2027)
    • Devices
    • Capsules
    • Vaporizers 
  • Distribution Channel Outlook (USD Million, 2017 - 2027)
    • Offline
    • Online
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Argentina
      • Brazil

Heat-not-burn Tobacco Products Market Scope

Report Coverage

Details

Page number

120

Base year

2022

Historical year

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 27.05%

Market growth 2023-2027

USD 42172.36 million

Market structure

Concentrated

YoY growth (%)

26.33

Regional analysis

APAC, North America, Europe, the Middle East and Africa, and South America

Performing market contribution

APAC at 42%

Key consumer countries

US, Japan, China, Italy, and UK

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

British American Tobacco Plc, Imperial Brands Plc, iSmoke Vapor Inc., Japan Tobacco Inc., JFT Co. Ltd., KT&G Corp., Mysmok Electronic Technology, Pax Labs Inc., Philip Morris International, SLANG Worldwide Inc., and Vapor Tobacco Manufacturing

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, and Market condition analysis for the forecast period.

Customization purview

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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 2023-2027
  • Detailed information on factors that will drive the growth of the heat-not-burn tobacco products market between 2023 and 2027
  • Precise estimation of the size of the heat-not-burn tobacco products market and its contribution to the parent market.
  • Accurate predictions about  upcoming trends and changes in consumer behavior
  • Growth of the heat-not-burn tobacco products market industry across APAC, North America, Europe, the Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information about 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

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global heat-not-burn tobacco products market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global heat-not-burn tobacco products market 2017 - 2021 ($ million)
    • 4.2 Product Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.3 Distribution Channel Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Devices - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Devices - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Devices - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Devices - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Devices - Year-over-year growth 2022-2027 (%)
    • 6.4 Capsules - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Capsules - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Capsules - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Capsules - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Capsules - Year-over-year growth 2022-2027 (%)
    • 6.5 Vaporizers - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Vaporizers - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Vaporizers - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Vaporizers - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Vaporizers - Year-over-year growth 2022-2027 (%)
    • 6.6 Market opportunity by Product
      • Exhibit 46: Market opportunity by Product ($ million)

    7 Market Segmentation by Distribution Channel

    • 7.1 Market segments
      • Exhibit 47: Chart on Distribution Channel - Market share 2022-2027 (%)
      • Exhibit 48: Data Table on Distribution Channel - Market share 2022-2027 (%)
    • 7.2 Comparison by Distribution Channel
      • Exhibit 49: Chart on Comparison by Distribution Channel
      • Exhibit 50: Data Table on Comparison by Distribution Channel
    • 7.3 Offline - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Offline - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Offline - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Offline - Year-over-year growth 2022-2027 (%)
    • 7.4 Online - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Online - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Online - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Online - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Online - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Distribution Channel
      • Exhibit 59: Market opportunity by Distribution Channel ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.7 South America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 Japan - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.10 Italy - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Italy - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on Italy - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on Italy - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Italy - Year-over-year growth 2022-2027 (%)
    • 9.11 UK - Market size and forecast 2022-2027
      • Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.12 China - Market size and forecast 2022-2027
      • Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 British American Tobacco Plc
              • Exhibit 112: British American Tobacco Plc - Overview
              • Exhibit 113: British American Tobacco Plc - Business segments
              • Exhibit 114: British American Tobacco Plc - Key news
              • Exhibit 115: British American Tobacco Plc - Key offerings
              • Exhibit 116: British American Tobacco Plc - Segment focus
            • 12.4 Imperial Brands Plc
              • Exhibit 117: Imperial Brands Plc - Overview
              • Exhibit 118: Imperial Brands Plc - Business segments
              • Exhibit 119: Imperial Brands Plc - Key offerings
              • Exhibit 120: Imperial Brands Plc - Segment focus
            • 12.5 iSmoke Vapor Inc.
              • Exhibit 121: iSmoke Vapor Inc. - Overview
              • Exhibit 122: iSmoke Vapor Inc. - Product / Service
              • Exhibit 123: iSmoke Vapor Inc. - Key offerings
            • 12.6 Japan Tobacco Inc.
              • Exhibit 124: Japan Tobacco Inc. - Overview
              • Exhibit 125: Japan Tobacco Inc. - Business segments
              • Exhibit 126: Japan Tobacco Inc. - Key offerings
              • Exhibit 127: Japan Tobacco Inc. - Segment focus
            • 12.7 JFT Co. Ltd.
              • Exhibit 128: JFT Co. Ltd. - Overview
              • Exhibit 129: JFT Co. Ltd. - Product / Service
              • Exhibit 130: JFT Co. Ltd. - Key offerings
            • 12.8 KT and G Corp.
              • Exhibit 131: KT and G Corp. - Overview
              • Exhibit 132: KT and G Corp. - Business segments
              • Exhibit 133: KT and G Corp. - Key offerings
              • Exhibit 134: KT and G Corp. - Segment focus
            • 12.9 Mysmok Electronic Technology
              • Exhibit 135: Mysmok Electronic Technology - Overview
              • Exhibit 136: Mysmok Electronic Technology - Product / Service
              • Exhibit 137: Mysmok Electronic Technology - Key offerings
            • 12.10 Pax Labs Inc.
              • Exhibit 138: Pax Labs Inc. - Overview
              • Exhibit 139: Pax Labs Inc. - Product / Service
              • Exhibit 140: Pax Labs Inc. - Key offerings
            • 12.11 Philip Morris International
              • Exhibit 141: Philip Morris International - Overview
              • Exhibit 142: Philip Morris International - Business segments
              • Exhibit 143: Philip Morris International - Key offerings
              • Exhibit 144: Philip Morris International - Segment focus
            • 12.12 SLANG Worldwide Inc.
              • Exhibit 145: SLANG Worldwide Inc. - Overview
              • Exhibit 146: SLANG Worldwide Inc. - Product / Service
              • Exhibit 147: SLANG Worldwide Inc. - Key offerings
            • 12.13 Vapor Tobacco Manufacturing
              • Exhibit 148: Vapor Tobacco Manufacturing - Overview
              • Exhibit 149: Vapor Tobacco Manufacturing - Product / Service
              • Exhibit 150: Vapor Tobacco Manufacturing - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 151: Inclusions checklist
                • Exhibit 152: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 153: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 154: Research methodology
                • Exhibit 155: Validation techniques employed for market sizing
                • Exhibit 156: Information sources
              • 13.5 List of abbreviations
                • Exhibit 157: 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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              Heat-not-burn Tobacco Products market growth will increase by $42172.36 million during 2023-2027.
              The heat-not-burn tobacco products market is expected to grow at a CAGR of 27.05% during 2023-2027.
              Technavio has segmented the heat-not-burn tobacco products market by product (Devices, Capsules, and Vaporizers) ,distribution channel (Offline, Online, Europe, South America, and South America) , and geography (APAC, North America, Europe, Middle East and Africa, and South America).
              British American Tobacco Plc, Imperial Brands Plc, iSmoke Vapor Inc., Japan Tobacco Inc., JFT Co. Ltd., KT and G Corp., Mysmok Electronic Technology, Pax Labs Inc., Philip Morris International, SLANG Worldwide Inc., Vapor Tobacco Manufacturing are a few of the key vendors in the heat-not-burn tobacco products market.
              APAC will register the highest growth rate of 42.48% among the other regions. Therefore, the heat-not-burn tobacco products 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 growth are:
              • Cost-effectiveness of heat-not-burn tobacco products
              • Increasing promotional activities by vendors
              The heat-not-burn tobacco products market vendors should focus on grabbing business opportunities from the devices segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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