
Report ID: UCMIG30J2007
Report ID:
UCMIG30J2007 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The size of the global heat-not-burn market, which was estimated at USD 7.3 billion in 2019, is expected to increase at a CAGR of 32.8% from 2020 to 2027. The industry is fueled by a steady drop in traditional cigarette sales and an increase in demand for potential Reduced Risk Products (RRPs). Heat-not-burn appliances employ convective and radiative heat rather than burning tobacco. As a result, the gadgets contain little nicotine and other substances. The market for heat-not-burn (HNB) devices is expanding as a result of rising cigarette pricing and prohibitions in several nations as well as increased awareness of the harmful effects of tobacco use. The adoption of heat-not-burn devices is predicted to be influenced by the health dangers associated with smoking and chewing tobacco, especially among young people.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Tobacco by segment aggregation, the contribution of the Tobacco in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG30J2007