The global Heated Tobacco Products market size reached US$ 21.46 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 82.07 Billion by 2028, exhibiting a growth rate (CAGR) of 23.70% during 2023-2028. Expanding income levels, growing health consciousness, and growing retail e-commerce sector represent some of the key factors driving the market.
Heated tobacco products (HTPs), also known as heat-not-burn products, refer to smoking alternatives that heat tobacco to a high temperature, enough to release nicotine and other chemicals, without burning the tobacco. The tobacco in these products is however heated to a temperature below than that of combustion, which produces an aerosol that the users inhale. Heated tobacco products typically consist of a device that heats a specially designed tobacco stick or cartridge, which is then inserted into a device. The user then inhales the aerosol produced by this heating procedure. Some heated tobacco products have a similar shape and size as regular cigarettes and contain a carbon tip wrapped in glass fibers that the user matches or heats with a lighter.
Heated Tobacco Products Market Trends:
One of the primary factors driving the market is the increasing consumer preferences toward smoking alternatives that are less harmful. Heated tobacco products contain a low level of nicotine and chemicals than the smoke from regular cigarettes. Additionally, the exponential growth in the e-cigarette industry is creating a positive market outlook. Besides this, the increasing bans on cigarettes and manufacturing units globally, on account of the harmful effects of tobacco consumption, is accelerating the sales of heated tobacco products. In line with this, key players are constantly introducing new product variants, such as new tobacco blends and better heating technology. Moreover, extensive investments in research and development (R&D) activities, marketing, and advertising campaigns are creating lucrative growth opportunities for the key players operating in the industry.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global Heated Tobacco Products market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on product, category, and distribution channel.
The report has provided a detailed breakup and analysis of the heated tobacco products market based on the product type. This includes stick and leaf. According to the report, stick represented the largest segment.
A detailed breakup and analysis of the heated tobacco products market based on the category has also been provided in the report. This includes regular and flavored. According to the report, flavored represented the largest segment.
Distribution Channel Insights:
A detailed breakup and analysis of the heated tobacco products market based on the distribution channel has also been provided in the report. This includes online and offline. According to the report, offline channels accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for heated tobacco products. Some of the factors driving the Asia Pacific heated tobacco products market included the rising number of smokers due to stressful lifestyles, introduction of different flavors, the health risks associated with cigarettes and chewing tobacco, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global heated tobacco products market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include British American Tobacco plc, Imperial Brands Plc, Japan Tobacco Inc., PAX Labs Inc., Philp Morris International, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Heated Tobacco Products Market Report Scope:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Distribution Channel
|Distribution Channels Covered
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||British American Tobacco plc, Imperial Brands Plc, Japan Tobacco Inc., PAX Labs Inc., Philp Morris International, etc
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global heated tobacco products market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global heated tobacco products market?
- What is the impact of each driver, restraint, and opportunity on the global heated tobacco products market?
- What are the key regional markets?
- Which countries represent the most attractive heated tobacco products market?
- What is the breakup of the market based on the product?
- Which is the most attractive product type in the heated tobacco market?
- What is the breakup of the market based on the category?
- Which is the most attractive category in the heated tobacco products market?
- What is the breakup of the market based on distribution channel?
- Which is the most attractive distribution channel in the heated tobacco products market?
- What is the competitive structure of the global heated tobacco products market?
- Who are the key players/companies in the global heated tobacco products market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the heated tobacco products from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global heated tobacco products market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the heated tobacco products industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.