Attractive Opportunities in Heat-Not-Burn Tobacco Products Market by Product and Geography - Forecast and Analysis 2021-2025

Attractive Opportunities in Heat-Not-Burn Tobacco Products Market by Product and Geography - Forecast and Analysis 2021-2025 Content Exchange

NEW YORK, Sept. 29, 2021 /PRNewswire/ -- The heat-not-burn tobacco products market will grow by USD 26.01 billion, while accelerating at a CAGR of 26.45% from  2021 to 2025. This market research report by Technavio offers key insights into the latest drivers, challenges, and trends, as well as an analysis of the best-performing regions and market segments.

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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:

Report coverage


Base Year


Forecast Period


Incremental Growth

$ 26.01 billion


Accelerating at 26.45%

No. of Pages



By geography:-

·         APAC

·         North America

·         Europe

·         MEA

·         South America

By product:-

·         Devices

·         Capsules

·         Vaporizers


·         Cost-effectiveness of heat-not-burn tobacco products

·         Heat-not-burn tobacco products are relatively safer than conventional cigarettes

·         Growing number of organized retailing outlets


·         Rising popularity of smokeless tobacco products

·         Distribution challenges

·         Stringent regulations on heat-not-burn tobacco products worldwide

Table of Content:

Executive Summary

Market Landscape

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.



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