IMARC Group, a leading market research company, has recently releases report titled “Heat Not Burn (HNB) tobacco market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global heat not burn (HNB) tobacco market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the heat not burn (HNB) tobacco market?
The global heat not burn (HNB) tobacco market size reached US$ 16.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 76.9 Billion by 2028, exhibiting a growth rate (CAGR) of 28.0% during 2023-2028.
What is heat not burn (HNB) tobacco?
Heat not burn (HNB) tobacco represents an electronic device that contains tobacco. It heats tobacco without burning and creates an aerosol that the user inhales. This electronic device comprises a carbon tip wrapped in glass fibers that do not cause the product to create ash or burn down in size. It uses real tobacco, not flavored liquid nicotine, compared to e-cigarettes. This electronic device allows users to experience the sensation of smoking a regular cigarette without inhaling combusted tobacco. It delivers reduced toxicity, lowers levels of dangerous chemicals, and causes minimal impact on lung or heart health compared to regular cigarettes.
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What are the growth prospects and trends in the heat not burn (HNB) tobacco industry?
The escalating demand for this electronic device, on account of the increasing consumption of tobacco items with minimal nicotine content among smokers, is among the key factors driving the heat not burn (HNB) tobacco market. Moreover, the growing awareness among consumers about the harmful impacts of smoking traditional cigarettes is also stimulating the market growth. Besides this, key market players are emphasizing on latest marketing strategies to increase the sales of their products and highlight the numerous benefits of using HNB tobacco products, which is acting as another significant growth-inducing factor. Furthermore, the elevating demand for reduced-risk products (RRPs) to minimize the dangerous side effects of burning tobacco and the growing prevalence of diseases, owing to chewing tobacco and cigarettes, are further propelling the global market. Apart from this, the wide availability of this electronic device through offline and online distribution channels and the expanding e-commerce industry are positively influencing the market growth. Additionally, governing agencies of several countries are approving the sale of HNB products, which is anticipated to fuel the heat not burn (HNB) tobacco market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Devices
- Direct/Indirect Heating
- Hybrid/Infused
- Consumables
- Tobacco Capsules and Cartridges
- Tobacco Sticks
Breakup by Distribution Channel:
- Offline Stores
- Convenience Stores
- Tobacco Shops
- Grocery Shops
- Drug Shops
- Others
- Online Stores
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- British American Tobacco plc
- HiTaste
- Imperial Brands PLC
- Japan Tobacco Inc.
- Philip Morris International Inc.
- Shenzhen Royal Tobacco Industrial Limited
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