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Heated Tobacco Products Market Size, Industry Analysis Report By Product (Stick , Leaf), By Distribution Channel (Online, Offline) & Region - Forecasts

  • PUBLISHED ON
  • 08/08/2022
  • NO OF PAGES
  • 247
  • CATEGORY
  • Retails & Consumer

 

Global Heated Tobacco Products Market Analysis by Product, Distribution Channel, Region and segments forecast till 2033

 

Market Overview

The global heated tobacco products market is presently worth USD 12,480 million and is poised to amplify at a CAGR of 32.8%, thereby amassing a valuation of USD 120,700 million by end of the assessment timeframe.

 

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 12,480 Million

Market Forecast in 2033

USD 120,700 Million

CAGR % 2023-2033

32.8%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product Size, Consumption, company share, company heatmap, company Material Product Size capacity, growth factors and more

Segments Covered

Product, Distribution Channel

Regional Scope

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

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

British American Tobacco, Imperial Brands, JT International AG, Korea Tobacco & Ginseng Corporation, PAX Labs, Inc., Philips Morris International, SHENZHEN AVBAD TECHNOLOGY CO., LTD, Shenzhen Royal Tobacco Industrial Ltd, Shenzhen Yukan Technology Co., Ltd., Vapor Tobacco Manufacturing LLC (3T Organic), Altria Group Inc., and Ballantyne Brands LLC

 

Heated tobacco products are made by heating tobacco leaves at a lower temperature than that in case of conventional cigarettes. These products contain a low amount of nicotine and other chemicals which are inhaled by the users into their lungs. A wide array of technological devices are used to heat real tobacco within a fixed temperature range which is controlled using an electronic heat-control system. Heated tobacco poses lesser health risks in contrast to burned tobacco which in turn is increasing its adoption across the globe.

The rapid decline in the sales of traditional cigarettes powered by the escalating demand for Reduced Risk Products (RRPs) is primarily augmenting the outlook of this marketplace. Additionally, growing prevalence of respiratory ailments induced by the consumption of combustible cigarettes is creating lucrative opportunities for the industry vertical to prosper.

Furthermore, integration of advanced technologies in the field along with stringent government regulations restricting tobacco consumption across several nations are positively swaying the dynamics of this business sphere. Moreover, growing R&D activities in the field and rising health consciousness of the masses are adding momentum to the progression of this industry. Also, the growing inclination of millennials towards safe tobacco substitutes is stimulating the overall market dynamics.

On the contrary, high costs pertaining to these products coupled with the lack of proper scientific evidence proving their benefits are hindering the remuneration scope of this industry. Excessive tobacco consumption is one of the major causes behind respiratory and cardiac ailments. This has escalated the demand for safe tobacco substitutes across the globe. Heated tobacco products contain lower amount of nicotine and ensures a lower intensity of harmful chemicals due to their non-combustible nature. This in turn is adding traction to the overall market development.

With rapid integration of advanced technologies in the field, top market players have increased the focus onto developing safe substitutes for traditional cigarettes. They are adopting battery-powered heating systems to facilitate the fast and efficient production of heated tobacco products. These factors are fueling the overall industry progression.

 

Product Insights

The stick segment is anticipated to garner notable returns over the estimated timeframe. This is attributable to its ease of use and escalating demand for heated tobacco products as a premium tobacco substitute.

 

Distribution Channel Insights

The online segment is expected to amass significant gains over the projected timeline ascribing to the widespread evolution of the e-commerce sector along with the growing internet penetration worldwide.

 

Regional Insights

North America, Middle East & Africa, Europe, Asia Pacific, and South America are the primary regions influencing the growth trajectory of this business vertical. Among these, Europe is anticipated to capture a substantial revenue share over the stipulated timeframe of 2023-2033. This is credited to the growing e-cigarette consumption, presence of potential players, and rising pervasiveness of tobacco induced ailments.

 

Competitive Analysis

The prominent companies characterizing the competitive terrain of this marketplace are British American Tobacco, Imperial Brands, JT International AG, Korea Tobacco & Ginseng Corporation, PAX Labs, Inc., Philips Morris International, SHENZHEN AVBAD TECHNOLOGY CO., LTD, Shenzhen Royal Tobacco Industrial Ltd, Shenzhen Yukan Technology Co., Ltd., Vapor Tobacco Manufacturing LLC (3T Organic), Altria Group Inc., and Ballantyne Brands LLC.

·         Notably, in August 2021, Japan Tobacco, Inc. announced the launch of its next-gen heated tobacco stick device range named Ploom X.

 

Global Heated Tobacco Products Market- Segmental Analysis

By Product

·         Stick

·         Leaf

 

By Distribution Channel

·         Online

·         Offline

 

Why to buy this Report?

The report provides quantitative and qualitative aspect for Global Heated Tobacco Products Market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both Product Sizeion and consumption point of view at the regional and country level. Key Factors considered within the report scope are Product Sizeion capacity by countries/regions, average End Use, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in Global Heated Tobacco Products Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:

             Business Model

             Product Sizeion Capacity, Revenue, Sales, Gross Margin

             Key Business Strategy

             SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the Card Product Size in taking a key decision within the business:

             Company Share Analysis from 2020-2022

             Company Analysis by Revenue and Sales

             Company Product Size Capacity, Gross Margin

             Company Share Analysis by Card Product Size/Card Product Size

             Company Share Analysis by Product Size/Specification


Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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