According to a market report by Lucintel, the future of the heated tobacco product (HTP) market looks promising with opportunities in the online and offline markets. The global heated tobacco product market is expected to grow with a CAGR of 50% to 52% from 2023 to 2028. The major drivers for this market are increasing awareness about the use of no smoke tobacco products and presence of low level of nicotine and chemical products.
In this market, stick and leaf are the major segments by product. Lucintel forecasts that stick will remain the largest segment over the forecast period due to the high adoption of HTPs as a premium product, ease of use, and availability of flavours & additives.
Within this market, offline is expected to remain the largest segment due to the convenience of buying the products in offline distribution and availability of variety of flavours and attractive packaging in offline stores. Also, presence of smoking areas/zones in or near offline stores positively influences the growth of offline distribution channel.
NA will remain the largest region due to the advertisement of HTP as a premium product by recognized brand names in the region driving the demand in adult and young population.
Phillip Morris International, British American Tobacco, Japan Tobacco, KT&G, Imperial Brands, China Tobacco International Company, and 3T Organics are the major suppliers in the global heated tobacco product market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global heated tobacco product market by product, distribution channel, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Heated Tobacco Product Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global heated tobacco product market by product, distribution channel, and region, as follows:
Heated Tobacco Product Market by Product [Value ($B) Shipment Analysis from 2017 to 2028]:
· Stick
· Leaf
Heated Tobacco Product Market by Distribution Channel [Value ($B) Shipment Analysis from 2017 to 2028]:
· Online
· Offline
Heated Tobacco Product Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Heated Tobacco Product Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the heated tobacco product market by product (stick and leaf), distribution channel (online and offline), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and what has its impact been on the industry?