Hot Tobacco Device Market Size, Share, Growth, and Industry Analysis by Type (Resistive Heating, Induction Heating, Others), by Application (Offline, Online), and Regional Insights and Forecast to 2031

Updated On: 22 April 2024

Hot Tobacco Device Market Report Overview

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The global hot tobacco device market size was 3401 million in 2022 and is expected to reach USD 64118 million in 2031, exhibiting a CAGR of 40.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with hot tobacco device market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Hot tobacco is also known as heated tobacco or heat-not-burn tobacco or hybrid tobacco. Heated Tobacco Products (HTPs) produce aerosols containing nicotine and other chemicals, which are inhaled by users through the mouth. These use specific tobacco products to be heated at temperatures below combustion levels. Hot tobacco products release flavours with nicotine and allow the user to enjoy tobacco without burning. Heated tobacco heating devices are devices that heat processed tobacco leaves which allows the users to enter nicotine into their lungs. Heated tobacco devices use electronic heating elements "such as" sticks, plugs, or capsules and some heat the liquids to create emissions to pass through a tobacco plug to absorb nicotine and flavour from tobacco. The high-speed internet saturation and the creation of smart devices are increasing the reach of e-commerce companies to different parts of the globe. The comfort of shopping and the rise in the number of market players shifting to online platforms are expected to propel the market.

Regular smokers inhale large amounts of toxic chemicals by burning chemicals, since heated tobacco products are made to avoid the burning of tobacco, so they pretence lower risks to users. Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Hot Tobacco Device Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into resistive heating, induction heating, others.

Resistive heating will capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into offline, online.

Hot tobacco device market players cover segment as offline will dominate the market share during forecast period.

Driving Factors

"Increasing Awareness To Boost The Market Growth"

Increasing awareness about harmful effects of smoking, rising demand for less harmful alternatives to traditional cigarettes and growing product innovations by manufacturers. Growing popularity of e- cigarettes and inhaling device are often consider as alternatives. The demand is motivated by the growth of these industry which is anticipated to enhance market growth.

"Technological Advancement And Development To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the hot tobacco device market growth. Growing investment in research and development activities and growing awareness about benefits of hot tobacco device are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices. Minors are actively looking for technically advanced solutions that can substitute for tobacco and the accessibility in this range is projected to fuel the sector demand.

Restraining Factor

"Health Related Issue To Hamper The Market Growth"

Health related issue is hampering development of hot tobacco device market. Heated tobacco products still contain nicotine and other harmful chemicals that can lead to various health issues such as lungs disease and cancer. Thus, ill effects of heated tobacco products on health of an individual and the growing popularity of e-cigarettes may restrain the market growth. Technical difficulties will reduce the industry revenue.

Hot Tobacco Device Market Regional Insights

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"Asia Pacific to Dominate The Region Due To New And Innovative Products"

Asia Pacific is further expected to witness growth in the hot tobacco device market share. The region is dominating the market due to focusing on developing new and innovative products. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Philip Morris International  (U.S.)
• Japan Tobacco International (Switzerland)
• British American Tobacco (U.K.)
• Imperial Brands (U.K.)
• Shenzhen Royal Tobacco Industrial (China)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.