A recent report published by Infinium Global Research on heat-not-burn tobacco products market provides an in-depth analysis of segments and sub-segments in the global as well as regional heat-not-burn tobacco products market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional heat-not-burn tobacco products market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global heat-not-burn tobacco products market. According to the report, the global heat-not-burn tobacco products market is projected to grow at a CAGR of 25.6% over the forecast period of 2019-2025.
The tobacco industry has launched heat-not-burn (HNB) tobacco products to respond to the harms of cigarette smoking. For instance, Philip Morris International Launched the World's Leading Heated-Tobacco Product in the UAE.
The growing awareness regarding smoke-free products drives the growth of the global heat-not-burn tobacco products market. IQOS is the world-leading heated-tobacco product. It is estimated that near about 8.0 million adult smokers around the globe have already stopped smoking and switched to IQOS. Heat-not-burn tobacco extensively reduces the harmful level of nicotine and other toxicants that causes smoking-related diseases such as cancer and heart disease. Moreover, the increasing acceptance of heat-not-burn tobacco products over the tradition nicotine tobacco products have a positive impact on market growth. The growth of online retailing is one of the major trends in this market augments market growth over the forecast period. The high rate of deaths occurred owing to the smoking habits is another major factor drives the growth of heat-not-burn tobacco market worldwide. As per the center of disease control and prevention, it is estimated that tobacco kills more than 8 million people each year tobacco. However, the availability of less harmful alternatives is expected to restrain the market growth. Furthermore, ongoing research and the development activity create significant growth opportunities in the market over the forecast period.
Geographically, the heat-not-burn tobacco products market is segmented into North America, Europe, Asia-Pacific, and RoW. Asia-Pacific is expected to hold the highest market share throughout the forecast period. The factor such as increasing awareness rewarding less harmful tobacco products and an increasing number of new product launches are responsible for the growth of the market. The countries such as Japan and South Korea hold maximum share in this market. Japan and the Republic of Korea have witnessed rapid adoption of IQOS. As per the survey of Japanese adolescents and adults, 48.0% of respondents were aware of heat-not-burn tobacco products.
The report on global heat-not-burn tobacco products market covers segments such as product type. On the basis of product type, the sub-markets include heat-not-burn tobacco capsules, heat-not-burn tobacco devices, and heat-not-burn tobacco vaporizers.
The report provides profiles of the companies in the market such as Philip Morris International, Pax Labs, British American Tobacco plc, Japan Tobacco Inc., and Vapor Tobacco Manufacturing LLC.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of heat-not-burn tobacco products market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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