The Business Research Company's global market reports are now
updated with the latest market sizing information for the year 2023
and forecasted to 2032
LONDON, March 28,
2023 /PRNewswire/ -- As per The Business Research
Company's Hot Tobacco Global Market Report 2023, the global hot
tobacco market size will grow from $7.8
billion in 2022 to $8.2
billion in 2023 at a compound annual growth rate
(CAGR) of more than 4%. The global hot tobacco market share
is the expected to grow from $9.5
billion in 2027 at a CAGR of more than 3%. Going
forward, rising disposable income and rising new product launches
will drive the hot tobacco market growth.
The global hot tobacco market is segmented -
- By Product: HNB Tobacco Devices, Direct/Indirect Heating HnB
TobacCo., Infused/Hybrid HnB Tobacco Devices, HnB Tobacco
Consumables, HnB Tobacco Sticks, HnB Tobacco Capsules &
Cartridges
- By Type: Devices, Capsules, Vaporizers
- By Distribution Channel: Retail Stores, Online
The top opportunities in the hot tobacco market segmented by
product will arise in the HnB tobacco devices segment, by type will
arise in the vaporizers segment, by distribution channel will arise
in the retail stores segment. The hot tobacco market size will gain
the most in the USA at
$5.4 billion.
Learn More On The Hot Tobacco Market Report –
https://www.thebusinessresearchcompany.com/report/hot-tobacco-global-market-report
The global hot tobacco market is highly concentrated, with a few
large players in the market. The top ten competitors in the market
made up to 78.6% of the total market in 2021. Philip Morris
International was the largest competitor with 54.8% of
the market, followed by British American Tobacco, Japan Tobacco
International, Korean Tobacco & Ginseng, Imperial Brands,
Altria Group Inc, China Tobacco International, Vapor Tobacco
Manufacturing, Shenzhen Yukan Technology Co., Ltd. and Mysmok
Electronic
Technology.
Major companies operating in the hot tobacco market are
developing innovative products by using advanced technologies to
strengthen their position in the market. The launch of new
heated tobacco products is a key trend gaining popularity in the
market. For example, in November
2022, Philip Morris International (PMI), a US-based tobacco
company, has launched a more affordable version of the company's
leading heated tobacco product BONDS by IQOS to accelerate the
achievement of a smoke-free future. It was initially launched in a
city pilot in the Philippines
providing an opportunity to address consumer-acquisition barriers,
including affordability, while providing authentic tobacco-taste
satisfaction. Like all the smoke-free products, BONDS by IQOS is
intended for adults who would otherwise continue smoking and are
looking for better alternatives.
According to hot tobacco market analysis, additional
market-trend-based strategies for the hot tobacco companies include
focus on artificial intelligence, investments in heated tobacco
products, technological advancements and strategic partnerships and
collaborations.
Request A Free Sample Of The Hot Tobacco Market Report –
https://www.thebusinessresearchcompany.com/sample.aspx?id=3120&type=smp
The hot tobacco market report describes and explains the hot
tobacco market and covers 2017 to 2022, termed the historic period,
and 2022 to 2027 termed the forecast period, along with further
forecasts for the period 2027-2032. The report evaluates the market
across each region and for the major economies within each
region.
View More Similar Market Reports:
Tobacco Products Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/tobacco-products-global-market-report
Cigarettes, Cigars And Cigarillos Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/cigarettes-cigars-and-cigarillos-global-market-report
Smoking And Other Tobacco Products Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/smoking-and-other-tobacco-products-global-market-report
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