Dublin, Aug. 18, 2021 (GLOBE NEWSWIRE) -- The "Hot Tobacco Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global hot tobacco market is expected to grow from $7.53 billion in 2020 to $10.63 billion in 2021 at a compound annual growth rate (CAGR) of 41.2%. The market is expected to reach $42.41 billion in 2025 at a CAGR of 41%.
Hot Tobacco Global Market Report 2021 provides the strategists, marketers and senior management with the critical information they need to assess the global hot tobacco products market.
Major players in the hot tobacco products market are Philip Morris International, Japan Tobacco International (JTI), British American Tobacco, Imperial Brands, KT&G Corp., Eli Lilly and Company, RJ Reynolds Vapor Company (RJRVC), Shenzhen AVBAD Technology Company Ltd., Pax Labs and Vapor Tobacco Manufacturing.
The hot tobacco products market consists of sales of hot tobacco products and its related services. Hot tobacco is also known as heated tobacco or heat-not-burn tobacco or hybrid tobacco. Heated Tobacco Products (HTPs) produce aerosols containing nicotine and other chemicals, which are inhaled by users through the mouth. These use specific tobacco products to be heated at temperatures below combustion levels. Hot tobacco products release flavors with nicotine and allow the user to enjoy tobacco without combustion.
The approvals by the government bodies are anticipated to drive the demand for the hot tobacco products market during the period. For instance, in April 2019, the U.S. Food and Drug Administration (FDA) have authorized the marketing of new heating tobacco products, iQOS, manufactured by Philips Morris International.
The increasing popularity of e-cigarettes is projected to limit the growth of the hot tobacco market. E-cigarettes are battery-powered devices and are considered less harmful as they do not contain tobacco. These devices vaporize liquid which contains nicotine to imitate conventional smoking. Thus, the growing popularity of vape products and e-cigarettes are projected to hinder the growth of the hot tobacco products market in the near future.
The hot tobacco products market covered in this report is segmented by product type into HNB tobacco devices; direct/indirect heating HNB tobacco; infused/hybrid HNB tobacco devices; HNB tobacco consumables; HNB tobacco sticks; HNB tobacco capsules and cartridges. It is also segmented by type into devices; capsules; vaporizers and by distribution channel into retail stores; online websites.
The launch of new heated tobacco products across the globe is a leading trend driving the growth of the hot tobacco products market. For instance, in September 2019, British American Tobacco (BAT), cigarette and tobacco manufacturing company based in London, England, announced the launch of two new heating tobacco products- Glo Nano and Glo Pro in Japan market, under its Glo Bran.
Similarly, in October 2019, Altria Group, Inc., engaged in producing and marketing of tobacco, cigarettes and related products, announced the launch of IQOS tobacco device in the USA. IQOS is a device that heats tobacco without burning it in order to give a similar experience to the user as smoking with fewer toxins. Therefore, the continuous launch of new hot tobacco products in the market is projected to be a major trend in the market over the approaching years.
Key Topics Covered:
1. Executive Summary
2. Hot Tobacco Products Market Characteristics
3. Hot Tobacco Products Market Trends and Strategies
4. Impact of COVID-19 on Hot Tobacco Products
5. Hot Tobacco Products Market Size and Growth
5.1. Global Hot Tobacco Products Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Hot Tobacco Products Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Hot Tobacco Products Market Segmentation
6.1. Global Hot Tobacco Products Market, Segmentation By Product, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
HNB Tobacco Devices
Direct/Indirect Heating HnB Tobacco
Infused/Hybrid HnB Tobacco Devices
HnB Tobacco Consumables
HnB Tobacco Sticks
HnB Tobacco Capsules & Cartridges
6.2. Global Hot Tobacco Products Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Hot Tobacco Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Hot Tobacco Products Market Regional and Country Analysis
7.1. Global Hot Tobacco Products Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Hot Tobacco Products Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Philip Morris International
Japan Tobacco International (JTI)
British American Tobacco
Eli Lilly and Company
RJ Reynolds Vapor Company (RJRVC)
Shenzhen AVBAD Technology Company Ltd.
Vapor Tobacco Manufacturing
Shenzhen Royal Tobacco Industrial Limited (Royal Tobacco)
Shenzhen Yukan Intelligent Technology Co. Ltd.
Shenzhen Kamry Technology
Shenzhen Yunxi Technology
AIIR Technology (Shenzhen)
Buddy Technology Development
Shenzhen Original Technology
Fog & Frog Technology (Shenzhen)
YanB Technology Shenzhen
Dongguan Hawei Electronic Technology Limited
Dongguan Cigwin Technology
Shenzhen Keeptech Electronics
For more information about this report visit https://www.researchandmarkets.com/r/3zp8x5
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