Philip Morris International Inc. dominates the Europe heat-not-burn tobacco product market - 6Wresearch
Rising health concerns among consumers across the region coupled with eagerness to acquire innovative and technology friendly products would drive the growth of heat-not-burn tobacco product market over the coming years. Increasing number of heated tobacco product selling stores in Europe contributes towards easy availability of such products which would further propel the demand for heated tobacco products during the forecast period.
According to 6wresearch, Europe Heat-Not-Burn Tobacco Product Market revenues are projected to grow at a CAGR of 24.9% during 2019-2025. Globally, the Europe heat-not-burn tobacco product market has acquired the second highest revenue share after the Asia-Pacific region. The heated tobacco products have just introduced in the European market. Therefore, consumers are getting aware about such products which would change their preferences towards reduced risk products from conventional cigarettes.
According to Prateek Gupta, Research Analyst, Research and Consulting, 6Wresearch, “By regions, European heat-not-burn tobacco products market is at its nascent stage and the consumers are socially accepting such products due to which the market for heated tobacco products is expected to grow during the forecast period.”
According to Sanjana Nagpal, Research Associate, Research and Consulting, 6Wresearch, “The heat-not-burn tobacco product market is growing owing to numerous flavours offered by the product due to which consumers are shifting towards such products. Additionally, companies are promoting such products as a safer option than traditional tobacco products which attracts consumers.
In Europe, Russia is amongst the highest revenue share holder in the heat-not-burn tobacco product market.” Sanjana further added.
Some of the major companies in Europe heat-not-burn tobacco product market are British American Tobacco, Philip Morris International and Japan Tobacco International.
"Europe Heat-Not-Burn Tobacco Market (2019-2025)" report provides an in-depth analysis with 61 figures covered in over 110 pages. The report estimates and forecast the overall Europe 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.