Global Heated Tobacco Products (HTP) Market (by Product Type, Distribution Channel, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)

Global Heated Tobacco Products (HTP) Market (by Product Type, Distribution Channel, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)


Market Insight:

Heated tobacco products (HTPs), sometimes known as "heat-not-burn" devices, are used to heat processed tobacco without igniting it, resulting in an aerosol or smoke that allows users to inhale nicotine, non-tobacco addictives, and other compounds through their mouth. HTPs operate on the premise that burning tobacco is not required to liberate nicotine. Heated tobacco products (HTPs) are a cross between electronic and traditional cigarettes in that they have a mechanism that warms the product without causing combustion in order to produce aerosol, while employing tobacco instead of nicotine-containing liquids.

Rising individual income, rising health consciousness, expanding retail e-commerce, higher investment in research and development, and other factors are likely to boost overall market expansion over the forecasted period. The value of global HTP market is likely to reach US$5.16 billion by 2023, growing at a CAGR of 11.48%, during the forecasted period. In terms of volume, the global HTP market is anticipated to grow to 5053.51 ton in 2023.

Segment Covered:
  • By Product Type: In terms of product type, the report provides the bifurcation of the market into two segments: Leaf and Stick. The stick segment held the largest share of the market value. Also, stick heated tobacco products market value is the fastest growing segment of global heated tobacco products market value owing to high adoption of HTPs as a premium product and the ease of use of tobacco sticks in comparison to conventional cigarettes.
  • By Distribution Channel: On the basis of distribution channel, the report further provides the segmentation of the global heated tobacco products market: Online and Offline. The offline segment held the major share of the global heated tobacco products (HTP) market. On the other hand, online heated tobacco products market is the fastest growing segment of heated tobacco products market owing to rising e-commerce platforms and companies having their own online channels and websites, offering a wide range of products and new designs, incentivizing a gradual shift among consumers towards online purchase of heated tobacco products.
Geographic Coverage:

The report provides insight into the heated tobacco products market based on the regions namely North America, Europe, Asia Pacific, and Rest of the World. The countries covered in North America region are the US, Canada, and Mexico, while Europe includes Germany, UK, France, Italy, Spain and Rest of Europe. Moreover, China, Japan, India, South Korea and Rest of Asia Pacific are included in the Asia Pacific region.

North America held a major share in the market. Within North America, the US is leading the market owing to positive government initiatives and advertisement of HTP as a premium product by recognized brand names, attracting both young population and adult smokers who carry a strong preference for branded product and smoke tobacco to boost social image. The North America heated tobacco products market, in terms of volume is also divided into two segments on the basis of distribution channel, namely, Offline and Online, where offline segment accounted for the major share of the market.

Within Europe, Germany held the highest share of the market, whereas UK is expected to be the fastest-growing heated tobacoo products market in the forecasted period.

Asia Pacific's heated tobacco product market is divided into five regions based on geographical operations, namely, China, Japan, India, South Korea, and the Rest of Asia Pacific, where China held the largest share of the Asia pacific heated tobacco products market owing to huge variety of HTP brands released locally, high smoking tobacco population and favorable government initiatives.

Top Impacting Factors:

Growth Drivers
  • Rising Income of Individuals
  • Decrease in Consumption for Cigarettes
  • Increased Investment in Research and Development (R&D)
  • Rising Health Awareness
Challenges
  • Rising Popularity of Alternative Tobacco Products
  • Lack of Scientific Proof
Trends
  • Rising Retail E-Commerce
  • Rise in Digital Advertising
  • Escalating influence of Partying and Pop Culture
  • Driver: Decrease in Consumption for Cigarettes
Cigarettes contain tobacco leaves that are burned to produce smoke containing nicotine inhaled by the user. Value of tobacco market is rising overtime, indicating the rise in use of tobacco in the forecasted period but since people are consuming less and less cigarettes overtime, it must be the case that there is a shift from conventional cigarettes to alternative tobacco heated products (THP) which heat and not burn tobacco leaves to create an aerosol containing nicotine. Therefore, decrease in consumption of cigarettes is leading an increase in demand for HTP and hence boosting the growth of heated tobacco products (HTP) market.
  • Challenge: Rising Popularity of Alternative Tobacco Products
The global Heated tobacco products (HTP) market faces competition from other smokeless tobacco products like snus, chewing tobacco, moist snuff, and vaping products. Also, each country has its local variants of smokeless tobacco products. For instance, In India, the local variants of smokeless tobacco products include gutkha, khaini, and zarda, which are quite popular among the masses, posing a serious threat to HTP market in these countries. Therefore, presence of different alternative products imposes a challenge for companies to sell heated tobacco products and strengthen their customer base. There has also been an increasing popularity of vape products, e-cigarettes and e-hookahs which are battery powered devices and are considered to be even less harmful than heated tobacco products (HTP) as these devices vaporise liquid that contains nicotine to imitate conventional smoking and does not contain any real tobacco. Presence of these substitute devices can pose a challenge for heated tobacco products to establish their market and hence hindering the growth of HTP market.
  • Trend: Rise in Digital Advertising
There are many restrictions on tobacco advertisement on mediums such as televisions and newspapers in many countries, so digital advertisement on social media platforms is allowing them to educate and promote the benefits of using HTP devices to a large customer base. Also, internet and social media have vast opportunities to reach potential consumers as by advertising and acknowledging the health risks of traditional cigarettes and describing new products as cleaner alternatives, people are shifting towards use of more of heated tobacco products. Therefore, high advertising and promotion by the companies will continue to boost the market demand for HTP and hence positively contributing to the growth of HTP market.

The COVID-19 Analysis:

With the advent of COVID-19, there was a drastic change in the lives of people all around the world whether be it in terms of changes in the lifestyle, getting used to masks, lockdowns of longer durations or the loss of livelihood. With rising number of deaths creating a havoc and people forbidden to leave their homes except to obtain basic necessities and healthcare, lockdown policies created a lot of stress and anxiety in the minds of people. The global impact of COVID-19 on heated tobacco products (HTP) market turned out to be positive as with closure of bars, casinos, pubs, restaurants, and all other public places, individuals with anxiety and panic attack symptoms started using heated tobacco products to relieve stress and anxiety. Also, hardcore smokers who faced obstacles in obtaining other addictive substances during confinement like weed, marijuana, alcohol etc. shifted toward HTPs as these devices were more easily accessible on stores and online purchasing sites.

Analysis of Key Players:

The market for heated tobacco products has been consolidated. The key players of the heated tobacco products market are:
  • Philip Morris International Inc. (PMI)
  • British American Tobacco P.L.C. (BAT)
  • Altria Group Inc. (Altria)
  • Imperial Brands PLC
  • Japan Tobacco Inc. (Japan Tobacco International)
  • Korean Tobacco and Ginseng Corp. (KT&G)
  • Vapor Tobacco Manufacturing LLC (3T Organic)
Philip Morris International Inc. (PMI), held the largest share in global heated tobacco products market. The global heated tobacco product market is consolidated with key companies holding major share in the economy. Even with few players the market is highly comeptitive and these major companies compete primarily on the basis of product quality, brand recognition, brand loyalty, taste, R&D, innovation, packaging, customer service, marketing, advertising and retail price and increasingly, adult smoker willingness to convert to companies HTP. For instance, In 2022, British American Tobacco p.l.c. (BAT) launched new heated tobacco product “glo hyper X2” in Tokyo and Philip Morris International Inc. (PMI) ended the agreement with Altria Group, Inc. (Altria) to get full rights to commercialize their heated tobacco product “IQOS” in the US.


1. Executive Summary
2. Introduction
2.1 Heated Tobacco Products (HTP) : An Overview
2.1.1 Definition of Heated Tobacco Products (HTP)
2.1.2 Types of Heated Tobacco Products (HTP)
2.2 Heated Tobacco Products (HTP) Segmentation: An Overview
2.2.1 Heated Tobacco Products (HTP) Segmentation
Table 1: Heated Tobacco Products (HTP) Segmentation
3. Global Market Analysis
3.1 Global Heated Tobacco Products Market: An Analysis
3.1.1 Global Heated Tobacco Products Market By Value: An Overview
3.1.2 Global Heated Tobacco Products Market by Value
Table 2: Global Heated Tobacco Products Market by Value; 2017-2021 (US$ Billion)
Table 3: Global Heated Tobacco Products Market by Value; 2022-2027 (US$ Billion)
3.1.3 Global Heated Tobacco Products Market Value by Product Type (Leaf and Stick)
Table 4: Global Heated Tobacco Products Market Value by Product Type; 2021 (Percentage, %)
3.1.4 Global Heated Tobacco Products Market Value by Distribution Channel (Offline and Online)
Table 5: Global Heated Tobacco Products Market Value by Distribution Channel; 2021 (Percentage, %)
3.1.5 Global Heated Tobacco Products Market Value by Region (North America, Europe, Asia Pacific and Rest of the World)
Table 6: Global Heated Tobacco Products Market Value by Region; 2021 (Percentage, %)
3.1.6 Global Heated Tobacco Products Market By Volume: An Overview
Table 7: Global Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 8: Global Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
3.1.7 Global Heated Tobacco Products Market by Volume
3.1.8 Global Heated Tobacco Products Market Volume by Product Type (Leaf and Stick)
Table 9: Global Heated Tobacco Products Market Volume by Product Type; 2021 (Percentage, %)
3.1.9 Global Heated Tobacco Products Market Volume by Distribution Channel (Offline and Table 10: Global Heated Tobacco Products Market Volume by Distribution Channel; 2021 (Percentage, %)
Online)
3.1.10 Global Heated Tobacco Products Market Volume by Region (North America, Europe, Asia Pacific and Rest of the World)
Table 11: Global Heated Tobacco Products Market Volume by Region; 2021 (Percentage, %)
3.2 Global Heated Tobacco Products Market: Product Type Analysis
3.2.1 Global Heated Tobacco Products Market By Product Type: An Overview
3.2.2 Global Stick Heated Tobacco Products Market By Value
Table 12: Global Stick Heated Tobacco Products Market by Value; 2017-2021 (US$ Billion) Table 13: Global Stick Heated Tobacco Products Market by Value; 2022-2027 (US$ Billion)
3.2.3 Global Stick Heated Tobacco Products Market By Volume
Table 14: Global Stick Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 15: Global Stick Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
3.2.4 Global Leaf Heated Tobacco Products Market By Value
Table 16: Global Leaf Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 17: Global Leaf Heated Tobacco Products Market by Value; 2022-2027 (US$ Billion)
3.2.5 Global Leaf Heated Tobacco Products Market By Volume
Table 18: Global Leaf Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 19: Global Leaf Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
3.3 Global Heated Tobacco Products Market: Distribution Channel Analysis
3.3.1 Global Heated Tobacco Products Market Value By Distribution Channel: An Overview
3.3.2 Global Offline Heated Tobacco Products Market By Value
Table 20: Global Offline Heated Tobacco Products Market by Value; 2017-2021 (US$ Billion)
Table 21: Global Offline Heated Tobacco Products Market by Value; 2022-2027 (US$ Billion)
3.3.3 Global Offline Heated Tobacco Products Market By Volume
Table 22: Global Offline Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 23: Global Offline Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
3.3.4 Global Online Heated Tobacco Products Market By Value
Table 24: Global Online Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 25: Global Online Heated Tobacco Products Market by Value; 2022-2027 (US$ Billion)
3.3.5 Global Online Heated Tobacco Products Market By Volume
Table 26: Global Online Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 27: Global Online Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4. Regional Market Analysis
4.1 North America Heated Tobacco Products Market: An Analysis
4.1.1 North America Heated Tobacco Products Market: An Overview
4.1.2 North America Heated Tobacco Products Market by Value
Table 28: North America Heated Tobacco Products Market by Value; 2017-2021 (US$ Billion)
Table 29: North America Heated Tobacco Products Market by Value; 2022-2027 (US$ Billion)
4.1.3 North America Heated Tobacco Products Market Value by Region (The US, Canada and Mexico)
Table 30: North America Heated Tobacco Products Market Value by Region; 2021 (Percentage, %)
4.1.4 The US Heated Tobacco Products Market by Value
Table 31: The US Heated Tobacco Products Market by Value; 2017-2021 (US$ Billion)
Table 32: The US Heated Tobacco Products Market by Value; 2022-2027 (US$ Billion)
4.1.5 Mexico Heated Tobacco Products Market by Value
Table 33: Mexico Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 34: Mexico Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.1.6 Canada Heated Tobacco Products Market by Value
Table 35: Canada Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 36: Canada Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.1.7 North America Heated Tobacco Products Market by Volume
Table 37: North America Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 38: North America Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.1.8 North America Heated Tobacco Products Market Volume by Distribution Channel (Offline and Online)
Table 39: North America Heated Tobacco Products Market Volume by Distribution Channel; 2021(Percentage, %)
4.1.9 North America Offline Heated Tobacco Products Market by Volume
Table 40: North America Offline Heated Tobacco Products Market by Volume; 2021-2027 (Ton)
4.1.10 North America Online Heated Tobacco Products Market by Volume
Table 41: North America Online Heated Tobacco Products Market by Volume; 2021-2027 (Ton)
4.1.11 North America Heated Tobacco Products Market Volume by Region (The US, Canada and Mexico)
Table 42: North America Heated Tobacco Products Market Volume by Region; 2021(Percentage, %)
4.1.12 The US Heated Tobacco Products Market by Volume
Table 43: The US Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 44: The US Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.1.13 Mexico Heated Tobacco Products Market by Volume
Table 45: Mexico Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 46: Mexico Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.1.14 Canada Heated Tobacco Products Market by Volume
Table 47: Canada Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 48: Canada Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.2 Europe Heated Tobacco Products Market: An Analysis
4.2.1 Europe Heated Tobacco Products Market: An Overview
4.2.2 Europe Heated Tobacco Products Market by Value
Table 49: Europe Heated Tobacco Products Market by Value; 2017-2021 (US$ Billion)
Table 50: Europe Heated Tobacco Products Market by Value; 2022-2027 (US$ Billion)
4.2.3 Europe Heated Tobacco Products Market Value by Region (Germany, UK, France, Italy, Spain and Rest of Europe)
Table 51: Europe Heated Tobacco Products Market Value by Region; 2021(Percentage, %)
4.2.4 Germany Tobacco Products Market by Value
Table 52: Germany Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 53: Germany Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.2.5 UK Tobacco Products Market by Value
Table 54: UK Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 55: UK Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.2.6 France Tobacco Products Market by Value
Table 56: France Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 57: France Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.2.7 Italy Tobacco Products Market by Value
Table 58: Italy Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 59: Italy Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.2.8 Spain Tobacco Products Market by Value
Table 60: Spain Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 61: Spain Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.2.9 Rest of Europe Tobacco Products Market by Value
Table 62: Rest of Europe Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 63: Rest of Europe Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.2.10 Europe Heated Tobacco Products Market by Volume
Table 64: Europe Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 65: Europe Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.2.11 Europe Heated Tobacco Products Market Volume by Distribution Channel (Offline and Online)
Table 66: Europe Heated Tobacco Products Market Volume by Distribution Channel; 2021 (Percentage, %)
4.2.12 Europe Offline Heated Tobacco Products Market by Volume
Table 67: Europe Offline Heated Tobacco Products Market by Volume; 2021-2027 (Ton)
4.2.13 Europe Online Heated Tobacco Products Market by Volume
Table 68: Europe Online Heated Tobacco Products Market by Volume; 2021-2027 (Ton)
4.2.14 Europe Heated Tobacco Products Market Volume by Region (Germany, UK, France, Italy, Spain and Rest of Europe)
Table 69: Europe Heated Tobacco Products Market Volume by Region; 2021(Percentage, %)
4.2.15 Germany Tobacco Products Market by Volume
Table 70: Germany Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 71: Germany Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.2.16 UK Tobacco Products Market by Volume
Table 72: UK Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 73: UK Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.2.17 France Tobacco Products Market by Volume
Table 74: France Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 75: France Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.2.18 Italy Tobacco Products Market by Volume
Table 76: Italy Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 77: Italy Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.2.19 Spain Tobacco Products Market by Volume
Table 78: Spain Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 79: Spain Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.2.20 Rest of Europe Tobacco Products Market by Volume
Table 80: Rest of Europe Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 81: Rest of Europe Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.3 Asia Pacific Heated Tobacco Products Market: An Analysis
4.3.1 Asia Pacific Heated Tobacco Products Market: An Overview
4.3.2 Asia Pacific Heated Tobacco Products Market by Value
Table 82: Asia Pacific Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 83: Asia Pacific Heated Tobacco Products Market by Value; 2022-2027 (US$ Billion)
4.3.3 Asia Pacific Heated Tobacco Products Market Value by Region (China, Japan, India, South Korea and Rest of Asia Pacific)
Table 84: Asia Pacific Heated Tobacco Products Market Value by Region; 2021(Percentage, %)
4.3.4 China Heated Tobacco Products Market by Value
Table 85: China Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 86: China Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.3.5 Japan Heated Tobacco Products Market by Value
Table 87: Japan Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 88: Japan Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.3.6 India Heated Tobacco Products Market by Value
Table 89: India Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 90: India Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.3.7 South Korea Heated Tobacco Products Market by Value
Table 91: South Korea Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 92: South Korea Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.3.8 Rest of Asia Pacific Heated Tobacco Products Market by Value
Table 93: Rest of Asia Pacific Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 94: Rest of Asia Pacific Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.3.9 Asia Pacific Heated Tobacco Products Market by Volume
Table 95: Asia Pacific Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 96: Asia Pacific Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.3.10 Asia Pacific Heated Tobacco Products Market Volume by Distribution Channel (Offline and Online)
Table 97: Asia Pacific Heated Tobacco Products Market Volume by Distribution Channel; 2021 (Percentage, %)
4.3.11 Asia Pacific Offline Heated Tobacco Products Market by Volume
Table 98: Asia Pacific Offline Heated Tobacco Products Market by Volume; 2021-2027 (Ton)
4.3.12 Asia Pacific Online Heated Tobacco Products Market by Volume
Table 99: Asia Pacific Online Heated Tobacco Products Market by Volume; 2021-2027 (Ton)
4.3.13 Asia Pacific Heated Tobacco Products Market Volume by Region (China, Japan, India, South Korea and Rest of Asia Pacific)
Table 100: Asia Pacific Heated Tobacco Products Market Volume by Region; 2021 (Percentage, %)
4.3.14 China Tobacco Products Market by Volume
Table 101: China Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 102: China Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.3.15 Japan Tobacco Products Market by Volume
Table 103: Japan Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 104: Japan Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.3.16 India Tobacco Products Market by Volume
Table 105: India Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 106: India Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.3.17 South Korea Tobacco Products Market by Volume
Table 107: South Korea Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 108: South Korea Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.3.18 Rest of Asia Pacific Tobacco Products Market by Volume
Table 109: Rest of Asia Pacific Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 110: Rest of Asia Pacific Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
4.4 Rest of the World Heated Tobacco Products Market: An Analysis
4.4.1 Rest of the World Heated Tobacco Products Market: An Overview
4.4.2 Rest of the World Heated Tobacco Products Market by Value
Table 111: Rest of the World Heated Tobacco Products Market by Value; 2017-2021 (US$ Million)
Table 112: Rest of the World Heated Tobacco Products Market by Value; 2022-2027 (US$ Million)
4.4.3 Rest of the World Heated Tobacco Products Market by Volume
Table 113: Rest of the World Heated Tobacco Products Market by Volume; 2017-2021 (Ton)
Table 114: Rest of the World Heated Tobacco Products Market by Volume; 2022-2027 (Ton)
5. Impact of COVID-19
5.1 Impact of COVID-19 on Heated Tobacco Products (HTP) Market
5.2 Post COVID-19 Impact on Heated Tobacco Products (HTP) Market
6. Market Dynamics
6.1 Growth Driver
6.1.1 Rising Income of Individuals
Table 115: The US Household Income Per Capita; 2017-2021 (US$ Thousand)
6.1.2 Decrease in Consumption for Cigarettes
Table 116: Global Consumption of Cigarettes; 2017-2025 (Trillion)
Table 117: Global Value of Tobacco Market; 2017-2025 (US$ Billion)
6.1.3 Increased Investment in Research and Development (R&D)
6.1.4 Rising Health Awareness
6.1.5 Government Initiatives
6.2 Challenges
6.2.1 Rising Popularity of Alternative Tobacco Products
6.2.2 Lack of Scientific Proof
6.2.3 Climate Change
6.2.4 Stringent Regulations
6.3 Market Trends
6.3.1 Rising Retail E-Commerce
Table 118: Global Retail E-Commerce Sales; 2017-2026 (US$ Billion)
6.3.2 Rise in Digital Advertising
Table 119: Global Digital Ad Spending; 2019-2024 (US$ Billion)
6.3.3 Escalating influence of Partying and Pop Culture
7. Competitive Landscape
7.1 Global Heated Tobacco Products Players by Market Share
Table 120: Global Heated Tobacco Products Players by Market Share; 2021 (Percentage, %)
8. Company Profiles
8.1 British American Tobacco P.L.C. (BAT)
8.1.1 Business Overview
8.1.2 Operating Geographic Region
Table 121: British American Tobacco p.l.c. (BAT) Revenue by Geographic Region; 2021 (Percentage, %)
8.1.3 Business Strategy
8.2 Japan Tobacco Inc. (Japan Tobacco International)
8.2.1 Business Overview
8.2.2 Operating Segment
Table 122: Japan Tobacco Inc. Revenue by Business Segment; 2021 (Percentage, %)
8.2.3 Business Strategy
8.3 Altria Group Inc. (Altria)
8.3.1 Business Overview
8.3.2 Operating Segment
Table 123: Altria Group Inc. (Altria) Net Revenues by Segment; 2021 (Percentage, %)
8.3.3 Business Strategy
8.4 Korean Tobacco and Ginseng Corp. (KT&G)
8.4.1 Business Overview
8.4.2 Operating Segment
Table 124: Korean Tobacco and Ginseng Corp. (KT&G) Sales by Segment; 2021 (Percentage, %)
8.4.3 Business Strategy
8.5 Imperial Brands PLC
8.5.1 Business Overview
8.5.2 Operating Segment
Table 125: Imperial Brands PLC Revenue by Reportable Segment; 2021 (Percentage, %)
8.5.3 Business Strategy
8.6 Philip Morris International Inc. (PMI)
8.6.1 Business Overview
8.6.2 Operating Segment
Table 126: Philip Morris International Inc. (PMI) Net Revenue by Geographic segment; 2021 (Percentage, %)
8.6.3 Business Strategy
8.7 Vapor Tobacco Manufacturing LLC (3T Organic)
8.7.1 Business Overview

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