Posted On: 2019-08-20
Changing consumer preferences, promotion of heat-not-burn tobacco products and increasing number of stores with HnB products are driving the growth of the market. Heated tobacco products are gaining popularity due to a general curiosity and rising health concerns among the consumers.
According to 6Wresearch, Global heat-not-burn tobacco product market revenues are projected to grow at a CAGR of 19.3% during 2019-25. The concept of heated tobacco product allows consumers to experience what looks and feels like smoking a conventional cigarette without inhaling the combusted tobacco. This simple phenomenon is making people to shift from conventional cigarettes to Heat-not-Burn tobacco products due to reduced ill health effects.
According to Sanjana Nagpal, Research Associate, Research and Consulting, 6Wresearch, "By regions, Asia Pacific region captured the highest revenue share in the global heat-not-burn tobacco market as heated tobacco products are very popular in countries such as Japan and South Korea. European region follows next in the global Heat-not-Burn Tobacco Products market. The penetration of heated tobacco products in the aforementioned regions is very high on account of easy availability and lack of strict regulations on the product."
According to Prateek Gupta, Research Analyst, Research and Consulting, 6Wresearch, "Another factor that may be attributed to the robust growth of Heat-not-Burn Tobacco Products market is the regular product development along with wide variety of flavor options."
"The demand for Heat-not-Burn tobacco products was the highest among the middle-aged population due high smoking prevalence in the age group which are shifting from conventional cigarettes to Heat-not-Burn tobacco products," Prateek further added.
Some of the major companies in global Heat-not-Burn Tobacco Products market are Philip Morris International, British American Tobacco and Japan Tobacco International.
"Global Heat-Not-Burn Tobacco Market (2019-2025)" report provides an in-depth analysis with 185 figures covered in over 160 pages. The report estimates and forecast the overall Global Heat-Not-Burn Tobacco Products market by product type, demography, sales channel and regions. 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.