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Heat-not-Burn Market Driven By Growing Awareness Of Safe Tobacco Alternatives Till 2027 : Grand View Research Inc.

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Heat-not-Burn Market Driven By Growing Awareness Of Safe Tobacco Alternatives Till 2027 : Grand View Research Inc.

August 21
20:45 2020
Heat-not-Burn Market Driven By Growing Awareness Of Safe Tobacco Alternatives Till 2027 : Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
The growing advertising campaigns, rising number of tobacco shops, and improved marketing strategies are anticipated to create growth opportunities for the market. The growing purchasing power of consumers is expected to drive the acceptance of heat-not-burn products over the forecast period as these products are marketed as premium products.

The global heat-not-burn (HnB) market is expected to witness a CAGR of 32.8%, according to the new report by Grand View Research, Inc. HnB device heats the tobacco to generate vapors like cigarettes. These device uses loaded e-liquid nicotine, with some quantity of real tobacco to offer authentic cigarette smoking to end-users. The product is attributed to be a safe alternative to regular smoking, while reducing the effect of second-hand smoking and minimizing exposure to airborne pollutants. The increasing popularity of HnB devices in countries such as South Korea, Japan, Germany, and other European countries is anticipated to boost the market share during the analysis timeline. Some of the most popular devices available in the market comprise iQOS, BAT’s Glo, Ploom TECH, and iFuse. Infused/hybrid and direct & indirect heating systems are two types of HnB devices.

The growing adoption of tobacco vapor technology over conventional cigarettes and e-cigarettes is set to drive market expansion. The series of successful product and marketing tests in several pilot regions such as South Korea, Japan, and Switzerland is supporting vendors to identify their market potentials. Various prominent market players are investing in R&D activities to study the side-effects of cigarettes and e-cigarettes are driving focus on developing heat-not-burn devices. 

U.S. heat-not-burn market size, by component, 2016 - 2027 (USD Million)

Get Details For “Sample Report, TOC, Segmentation & methodology of Heat-not-Burn Market” Click Link Below: 

https://www.grandviewresearch.com/industry-analysis/heat-not-burn-market

On 7 July 2020, the US Food and Drug Administration (FDA) officially concluded and authorized the marketing of the smoking alternative IQOS, a product developed by Philip Morris International as a modified risk tobacco product. HTPs are devices that heat, instead of burn specifically-designed tobacco units to release a flavorful tobacco vapor containing nicotine. One of the most popular heated tobacco vapor products brand today is IQOS, which is an electronic tobacco-filled sticks device that is generates nicotine-containing aerosol. In a recent issuance by the US FDA, the commercialization of IQOS was approved in the U.S. Another heat-not-burn technology platform called Omura uses pre-filled Flowersticks is set to revolutionize the whole flower cannabis consumption and will hit stores in October 2020,

Covid-19 Effect:
The Coronavirus disease (COVID-19) pandemic has hugely impacted people’s lives. With the COVID-19 virus pushing the several governments to implement lockdowns has subsequently halted manufacturing processes, sales, and the distribution of non-essential goods such as alcohol and tobacco products. Additionally, the tobacco products consumptions have increased the risks of contracting the COVID-19 illness. As tobacco smoking poses a greater heath risk for COVID-19 due to its directly impacts the lungs.

Would you Like to Take a Look On “Sample Report” of Heat-not-Burn Market Click the Link Below: https://www.grandviewresearch.com/industry-analysis/heat-not-burn-market/request/rs1

Europe heat-not-burn market share, by retail store, 2019 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/450504/ibb

Further findings from the report suggest:
Altria is expanding its marketing of heat-not-burn cigarette alternative products, IQOS, North Carolina and other parts of North America. In July 2020, federal regulators recommended marketing of IQOS to smokers as it reduces their exposure to harmful chemicals contained in regular cigarettes. Both Altria and Philip Morris have collectively invested in researching and developing substitutes for tobacco products as a therapeutic option for people who are unable to quit cigarettes.     

The sticks segment accounted for the largest market share with over 25.0% of the revenue share in 2019. This can be attributed to the increasing adoption of tobacco sticks as a premium product. Tobacco sticks are also available in different flavors which is projected to further fuel market growth.

Major Players:
Altria Group, Inc.
Japan Tobacco Inc.
Philip Morris International
Imperial Brands
KT&G Corp.
British American Tobacco
Shenzhen Yukan Technology Co., Ltd.
PAX Labs, Inc.
Vapor Tobacco Manufacturing LLC
Firefly Vapor

Request For Customization Report Of Heat-not-Burn Market @ https://www.grandviewresearch.com/request-for-customization/450504/rfc1

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
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Address:201, Spear Street, 1100
City: San Francisco
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Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/heat-not-burn-market


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