Global Heated Tobacco Products Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2023-2032 Report by We Market Research
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. 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.
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Market Segmentation:
The global heated tobacco products market can be segmented based on various factors, including product type, distribution channel, and region.
- Product Type:
- Devices: This includes the actual heated tobacco devices that are used to heat tobacco sticks or capsules. Examples include IQOS by Philip Morris International, Glo by British American Tobacco, and Ploom by Japan Tobacco International.
- Capsules/Sticks: These are the tobacco products that are used with the heated tobacco devices. Examples include HEETS by Philip Morris International, Neo Sticks by British American Tobacco, and Ploom S by Japan Tobacco International.
- Distribution Channel:
- Online: This includes sales of heated tobacco products through online channels, such as e-commerce websites.
- Offline: This includes sales of heated tobacco products through physical retail stores, such as convenience stores, tobacco shops, and specialty stores.
- Region:
- North America: This includes the United States and Canada.
- Europe: This includes the United Kingdom, Germany, France, Italy, Spain, and the rest of Europe.
- Asia-Pacific: This includes China, Japan, South Korea, India, and the rest of Asia-Pacific.
- Rest of the World: This includes Latin America, the Middle East, and Africa.
Key Player:
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.
Regional Analysis:
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
FAQs:
1. What are the major drivers which aid this Market?
2. What are the segments of this Market?
3. Which is the fastest growing region in this Market?
4. What are some major strategies used by top players for the expansion of their business in this Market?
Key Points:
Define, describe and forecast Potentiometers product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Reasons to Purchase this Report:
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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