According to the recent study the heated tobacco product market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 50% to 52% from 2023 to 2028. Growth in this market is primarily driven by increasing awareness about the use of no smoke tobacco products and presence of low level of nicotine and chemical products.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in 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).
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“Stick market is expected to remain the largest segment during the forecast period.”
Based on product, the heated tobacco product market is segmented into stick and leaf. Lucintel forecasts that the stick market is expected to remain the largest segment due to the high adoption of HTPs as a premium product, ease of use, and availability of flavours & additives.
“Within the heated tobacco product market, the offline segment is expected to remain the largest distribution channel”
Based on distribution channel the offline segment is expected to witness the highest growth over the forecast period 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.
“North America will dominate the heated tobacco product market in near future”
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.
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Major players of heated tobacco product market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Phillip Morris International, British American Tobacco, Japan Tobacco, KT&G, Imperial Brands, China Tobacco International Company, ad 3T Organics are among the major heated tobacco product providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/heated-tobacco-product-market.aspx or [email protected]