The global heated tobacco products market size is expected to reach USD 77.61 billion by 2025. It is anticipated to expand at a CAGR of 52.56% during the forecast period. The growth is driven by rising consumer demand for reduced-risk tobacco products as they are claimed to be less harmful to health. Moreover, rise in marketing campaigns coupled with easy product approvals by the U.S. Food and Drug Administration (FDA) and the equivalent governing bodies from Europe and Asia is anticipated to fuel the product demand.
The market is driven by high growth of tobacco sector in Asia and North America. Rise in middle class population coupled with increasing disposable income is projected to drive the demand for Heated Tobacco Products (HTPs). Rising awareness regarding healthy lifestyle and availability of healthier alternatives is anticipated to drive the market growth. Moreover, growing purchasing power of consumers is anticipated to drive the adoption of both stick and leaf products over the forecast period.
Leading manufacturers operating in U.S, Italy, Germany, Croatia, and South Africa among others countries engage in product launches with increasing focus on specialty and premium HTPs. Advertising campaigns, rising number of tobacco shops, and marketing strategies by the FDA itself are anticipated to create growth opportunities for the heated tobacco products market.
North America is anticipated to rise due to rising consumer awareness along with growing product launches from the leading manufacturers. For instance, in April 2019, Philips Morris International entered into the U.S. market with its iQOS heated tobacco products. Asia Pacific, on the other hand, is anticipated to witness significant rise in product demand on account of the ban on E-cigarettes in the key countries. Rising investments from leading players are anticipated to create growth opportunities in the regional market during the forecast period.
Manufacturers engage in product launches and expanding their manufacturing capacity gain greater market share. Key players including Philips Morris International, Japan Tobacco International, and British American Tobacco engage in business strategies, such as acquisitions, mergers, online sales, and capacity expansion.
The market is driven by high growth of tobacco sector in Asia and North America. Rise in middle class population coupled with increasing disposable income is projected to drive the demand for Heated Tobacco Products (HTPs). Rising awareness regarding healthy lifestyle and availability of healthier alternatives is anticipated to drive the market growth. Moreover, growing purchasing power of consumers is anticipated to drive the adoption of both stick and leaf products over the forecast period.
Leading manufacturers operating in U.S, Italy, Germany, Croatia, and South Africa among others countries engage in product launches with increasing focus on specialty and premium HTPs. Advertising campaigns, rising number of tobacco shops, and marketing strategies by the FDA itself are anticipated to create growth opportunities for the heated tobacco products market.
North America is anticipated to rise due to rising consumer awareness along with growing product launches from the leading manufacturers. For instance, in April 2019, Philips Morris International entered into the U.S. market with its iQOS heated tobacco products. Asia Pacific, on the other hand, is anticipated to witness significant rise in product demand on account of the ban on E-cigarettes in the key countries. Rising investments from leading players are anticipated to create growth opportunities in the regional market during the forecast period.
Manufacturers engage in product launches and expanding their manufacturing capacity gain greater market share. Key players including Philips Morris International, Japan Tobacco International, and British American Tobacco engage in business strategies, such as acquisitions, mergers, online sales, and capacity expansion.
Further key findings from the report suggest:
- The stick product segment is projected to ascend at a CAGR of around 51.0% over the forecast period
- Offline segment held the leading market share of over 91.0% in 2018
- Asia Pacific held the leading heated tobacco products (HTPs) market share of around 73.0% and is anticipated to continue its dominance over the forecast period
- The heated tobacco products market is highly competitive in nature with the presence of major players including Philips Morris International, Japan Tobacco International, and British American Tobacco.
- Manufacturers focus on new product launches, capacity expansion, and product innovation to estimate existing and future demand patterns from the upcoming product segments
Table of Contents
Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Heated Tobacco Products Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Heated Tobacco Products Market
3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Heated Tobacco Products Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2018 & 2025
5.2. Stick
5.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
5.3. Leaf
5.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
Chapter 6. Heated Tobacco Products Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2018 & 2025
6.2. Online
6.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
6.3. Offline
6.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
Chapter 7. Heated Tobacco Products Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2018 & 2025
7.2. North America
7.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.2.2. Market estimates and forecast, by product, 2015 - 2025 (USD Billion)
7.2.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.2.4. The U.S.
7.2.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.2.4.2. Market estimates and forecast, by product, 2015 - 2025 (USD Billion)
7.2.4.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.2.5. Canada
7.2.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.2.5.2. Market estimates and forecast, by product, 2015 - 2025 (USD Billion)
7.2.5.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.3. Europe
7.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.3.2. Market estimates and forecast, by product, 2015 - 2025 (USD Billion)
7.3.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.3.4. Italy
7.3.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.3.4.2. Market estimates and forecast, by product, 2015 - 2025 (USD Billion)
7.3.4.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.4. Asia Pacific
7.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.4.2. Market estimates and forecast, by product, 2015 - 2025 (USD Billion)
7.4.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.4.4. Japan
7.4.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.4.4.2. Market estimates and forecast, by product, 2015 - 2025 (USD Billion)
7.4.4.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.4.5. South Korea
7.4.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.4.5.2. Market estimates and forecast, by product, 2015 - 2025 (USD Billion)
7.4.5.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.5. Rest of the World
7.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.5.2. Market estimates and forecast, by product, 2015 - 2025 (USD Billion)
7.5.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
Chapter 8. Competitive Analysis
8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
8.3.1. Key company market share analysis, 2018
Chapter 9. Company Profiles
9.1. British American Tobacco
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Philip Morris International
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Japan Tobacco International
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. PAX Labs
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. Vapor Tobacco Manufacturing
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. Shenzhen Yukan Technology Co., Limited
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Korea Tobacco & Ginseng Corporation
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
9.8. China National Tobacco Corporation
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Strategic Initiatives
9.9. Imperial Brands Plc
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Strategic Initiatives
9.10. Altria Group, Inc.
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Strategic Initiatives
List of Tables
1. Heated Tobacco Products - Key market driver analysis
2. Heated Tobacco Products - Key market restraint analysis
3. Global stick type heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
4. Global leaf type heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
5. Global online heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
6. Global offline products heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
7. North America heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
8. North America heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
9. North America heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
10. U.S. heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
11. U.S. heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
12. U.S. heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
13. Canada heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
14. Canada heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
15. Canada heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
16. Europe heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
17. Europe heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
18. Europe heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
19. Italy heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
20. Italy heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
21. Italy heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
22. Russia heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
23. Russia heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
24. Russia heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
25. Asia Pacific heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
26. Asia Pacific heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
27. Asia Pacific heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
28. Japan heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
29. Japan heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
30. Japan heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
31. South Korea heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
32. South Korea heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
33. South Korea heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
34. Rest of the World heated tobacco products market estimates and forecast, 2015 - 2025 (USD Billion)
35. Rest of the World heated tobacco products market revenue estimates and forecast by product, 2015 - 2025 (USD Billion)
36. Rest of the World heated tobacco products market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion)
37. Vendor landscape
List of Figures
1. Heated Tobacco Products market snapshot
2. Heated Tobacco Products market segmentation & scope
3. Heated Tobacco Products market penetration & growth prospect mapping
4. Heated Tobacco Products value chain analysis
5. Heated Tobacco Products market dynamics
6. Heated Tobacco Products market Porter's analysis
7. Heated Tobacco Products market: Product movement analysis
8. Heated Tobacco Products market: Distribution Channel movement analysis
9. Heated Tobacco Products market: Regional movement analysis
Companies Mentioned
- British American Tobacco
- Philip Morris International
- Japan Tobacco International
- PAX Labs
- Vapor Tobacco Manufacturing
- Shenzhen Yukan Technology Co., Limited
- Korea Tobacco & Ginseng Corporation
- China National Tobacco Corporation
- Imperial Brands Plc
- Altria Group, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | July 2022 |
| Forecast Period | 2019 - 2025 |
| Estimated Market Value ( USD | $ 5.94 Billion |
| Forecasted Market Value ( USD | $ 77.61 Billion |
| Compound Annual Growth Rate | 52.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
