Insights on the Global Heat-not-burn Tobacco Products Market, Drivers, Restraints, Opportunities, and Threats

NEW YORK, Sept. 21, 2022 /PRNewswire/ — The heat-not-burn tobacco products market is expected to grow by USD 22.22 billion, at a CAGR of 26.21% during the forecast period. The cost-effectiveness of heat-not-burn tobacco products, heat-not-burn tobacco products are relatively safer than conventional cigarettes, and a growing number of organized retail outlets is one of the major factors propelling the market growth.

Technavio has announced its latest market research report titled Global Heat-not-burn Tobacco Products Market 2021-2025

However, factors such as the rising popularity of smokeless tobacco products, distribution challenges, and increasing promotional activities by vendors will hamper the market growth. Request Free Sample Report.

Heat-not-burn Tobacco Products Market Geography Landscape

APAC will account for 41% of market growth. The main markets in APAC for heat-not-burn tobacco products are Japan and China. This region’s market will grow more quickly than other regions’ markets. Over the projection period, cost-effectiveness will assist market expansion in APAC. The report extensively covers heat-not-burn tobacco products market segmentation by product (devices, capsules, and vaporizers) and geography (APAC, North AmericaEurope, South America, and MEA).

Heat-not-burn Tobacco Products Market Segmentation

The capsules sector will significantly increase its market share of heat-not-burn tobacco products. The second-largest product category on the global market is heat-not-burn tobacco capsules. The market for heat-not-burn tobacco capsules is highly consolidated, with only a few local and international suppliers.

The global market for heat-not-burn tobacco capsules will expand during the projected period as a result of rising organized retail outlets around the world and increased consumer awareness of the benefits of utilizing heat-not-burn tobacco products. Buy Sample Report.

The market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.

Companies Covered:

  • Altria Group Inc.

  • Ballantyne Brands LLC

  • British American Tobacco Plc

  • Imperial Brands Plc

  • Japan Tobacco Inc.

  • Korea Tobacco & Ginseng Corp.

  • PAX Labs Inc.

  • Philip Morris International Inc.

  • Shenzhen Yukan Technology Co. Ltd.

  • Vapor Tobacco Manufacturing LLC

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Download Free Sample Report.

What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on market estimates

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

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Heat-not-burn Tobacco Products Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 26.21%

Market growth 2021-2025

$22.22 billion

Market structure


YoY growth (%)


Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 41%

Key consumer countries

US, Japan, Italy, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Altria Group Inc., Ballantyne Brands LLC, British American Tobacco Plc, Imperial Brands Plc, Japan Tobacco Inc., Korea Tobacco & Ginseng Corp., PAX Labs Inc., Philip Morris International Inc., Shenzhen Yukan Technology Co. Ltd., and Vapor Tobacco Manufacturing LLC

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.

Browse for Technavio “Consumer Staples” Research Reports

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

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.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]

Global Heat-not-burn Tobacco Products Market 2021-2025

Global Heat-not-burn Tobacco Products Market 2021-2025



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