Japan leads the Asia-Pacific Heat-Not-Burn Tobacco Product Market - 6Wresearch
The less- ill effects associated with the heat-not-burn tobacco products and rising health concerns among consumers are changing their preferences and making them shift from conventional cigarettes to heat-not-burn tobacco products. Additionally, increasing number of retail stores in the Asia-Pacific region has made availability of such products easier which would propel the demand for such products among the consumers.
According to 6wresearch, Asia Pacific (APAC) Heat-Not-Burn Tobacco Product Market revenues are projected to grow at a CAGR of 14.6% during 2015-2025. The Asia Pacific region has captured the highest revenue share in the Global heat-not-burn tobacco products market owing to the largest smoking population prevailing in the region. Furthermore, companies are planning to introduce heated tobacco products in several other Asian countries which would propel the demand for such products during the forecast period.
According to Prateek Gupta, Research Analyst, Research and Consulting, 6Wresearch, “By countries, Japan captured the highest revenue share in the Asia-Pacific heat-not-burn tobacco product market owing to their rising popularity among the conventional smokers. The heated tobacco products are strengthening their hold on the market due to regular product development along with availability of numerous flavours.
According to Sanjana Nagpal, Research Associate, Research and Consulting, 6Wresearch, “The heat-not-burn tobacco product market is growing due to increasing health concerns and reduced risks associated with such products which resulted in shifting the consumers from conventional cigarettes.
In the Asia Pacific region, Japan acquired the highest revenue share in the heat-not-burn tobacco product market.” Sanjana further added.
Some of the major companies in the Asia Pacific heat-not-burn tobacco are British American Tobacco, Philip Morris International, Japan Tobacco International and KT&G.
"Asia Pacific (APAC) Heat-Not-Burn Tobacco Market (2015-2025)" report provides an in-depth analysis with 54 figures covered in over 100 pages. The report estimates and forecast the overall Asia Pacific heat-not-burn tobacco market by product type, gender, age and sales channels. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.