Heat-Not-Burn Tobacco Products Market to grow by $ 26.01 bn from 2021 to 2025|APAC to emerge as key region | Discover more insights by Technavio

Drivers and Challenges

Technavio has identified the major drivers and challenges that impact the heat-not-burn tobacco products market. According to our research, the cost-effectiveness of heat-not-burn tobacco products is driving market growth. However, the rising popularity of smokeless tobacco products may hamper market growth during the forecast period.

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COVID-19 impact

The COVID-19 pandemic brought the world to a standstill and impacted many markets and industries in different ways. Technavio's report provides a thorough analysis of the effect of the pandemic on the heat-not-burn tobacco products market. The business impact of COVID-19 on the heat-not-burn tobacco products market during 2021-2025 is expected to result in neutral and at par growth.

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Market Segmentation

The heat-not-burn tobacco products market has been segmented by geography into APAC, North America, Europe, MEA, and South America. APAC will lead the market during the forecast period, with Japan and China being the key revenue-generating economies.

Based on product, the market has been segmented into devices, capsules, and vaporizers. The market share of the devices segment will be the highest during the forecast period.

Some of the Key Vendors and their Offerings:

Technavio has identified key vendors operating in the market. These include Altria Group Inc., British American Tobacco Plc, Fog, and Frog Technology (Shenzhen) Co. Ltd., Imperial Brands Plc, Japan Tobacco Inc., KT and G Corp., Mysmok Electronic Technology Co. Ltd., Philip Morris International Inc., and Shenzhen Yukan Technology Co. Ltd. The key offerings of some of these vendors are mentioned below:

• Altria Group Inc.: The company offers a heated tobacco system through its brand Iqos.
• British American Tobacco Plc: The company offers a wide range of heat-not-burn tobacco products such as vapor products, tobacco heat products, and modern and traditional oral products.
• Fog and Frog Technology (Shenzhen) Co. Ltd.: The company offers a wide range of electronic devices used for heat-not-burn tobacco products through its brand QOQ.

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Scope of Heat-Not-Burn Tobacco Products Market Report:

Table of Content:

Executive Summary

Market Landscape

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