Global Heat Not Burn Tobacco

[wisepowder]

Global Heat Not Burn Tobacco

Key Vendors: Philip Morris International, Japan Tobacco International (JTI), British American Tobacco, Imperial Brands.To get more news about Heat not Burn tobacco products, you can visit hitaste.net official website.

The global heat not burn tobacco market is expected to grow at a CAGR of over 22% during the period 2019-2025. The heat not burn tobacco market is growing at a tremendous rate due to an increase in the popularity of HnB products and devices in the US, Japan, and South Korea. With the increase in demand and the increasing awareness of health concerns, the HnB tobacco market is growing rapidly across the globe. The APAC region enjoys major shares because of the large smoking population and continuous shift toward innovative smoking products. The market is witnessing the introduction of innovative products to drive the sale as end-users are looking for enhanced smoking experience. Thus, the introduction of HnB products in the market has disrupted the revenue of traditional cigarettes up to an extent. Although the sale of HnB products is lower than traditional cigarettes, the sale and revenue of large tobacco companies are witnessing a decline. These products are experiencing popularity among existing smokers and ex-smokers as they offer a different vaping sensation. Cost efficiency and easy availability are the other major drivers for growth. However, owing to stringent government regulations, the HnB tobacco market is witnessing hindrance in its growth.
The acceptance rate of HnB products among smokers worldwide has been impressive. The heat not burn tobacco market has witnessed the entry of several new vendors. The competition among these companies has increased, leading to the introduction of several innovative and advanced products. These players compete on several factors, such as price, availability, brand, and safety. However, the price is set to become a major base for the competition among players to gain a competitive edge. Further, the growth of vendors depends on its condition, GDP growth, and industry development. High capital requirements and rapid advances in technology are major entry barriers for new players.