The report "Next-generation Products in Tobacco Market, By Product Type (Tobacco Heating Product, Vapour Products, Snus, and E-cigarettes) and Region - Global Forecast to 2029"

Next-generation products in tobacco market is projected to grow from US$ XX billion in 2019 to US$ XX billion by 2029. Increase in awareness and change in consumer perception, coupled with their shift towards less harmful tobacco products are major factors driving growth of the global next generation products in tobacco market. Increasing number of deaths caused by smoking-related respiratory disease, cancer, and heart diseases is a factor primarily contributing to decline in the use of traditional cigarettes over the last few years.  According to the World Health Organization, around 7 million people die due to tobacco smoking annually, out of which 890,000 die due to passive smoking. Next generation products are better alternatives over the traditional products such as cigarette owing to their ability to reduce the risk of tobacco-related diseases by eliminating the inhalation toxicants since; these products are designed in order to simulate tobacco smoking. Increasing in number of launches of new next generation products across the globe, owing to changing perception of end-users towards e-vapor and e-cigarettes is a factor expected to boost growth of the global market over the forecast period. Nevertheless, several key vendors are also introducing next generation vapor products such as Heat-not -Burn devices, e-vapor, smoke vapes, smokeless tobacco products, cig-a-likes, and reduced risk products (RRP) cigarettes. The recent developments in the vapor products market are the introduction of vaping devices or battery-powered inhalers.

Key Highlights:

• In February 2019, British American Tobacco (BAT) has announced a new global partnership with McLaren rooted in advanced technology and innovation. This pathernship focuses on accelerating its transforming tobacco agenda by providing a portfolio of potentially reduced-risk products (PRRPs), which can deliver a “better tomorrow” for its consumers.

Key Market Insights from the report:          

The next-generation products in tobacco market accounted for US$ XX billion in 2019 and is projected to register a moderate CAGR of XX% over the forecast period. The market report has been segmented on the basis of product type and region.

• By product type, the global market is segmented into tobacco heating product, vapour products, snus, and e-cigarettes. E-cigarettes product type segment is accounted to dominate the global market over the forecast period, owing to many health risks associated with tobacco smoking, and offer more healthful alternative to tobacco consumption other than the conventional forms of nicotine intake.

 

• By region, In 2018 North America accounted for the major share in the global next generation products in tobacco market. The region represents largest market in the world. The major drivers of next generation products in tobacco industry market in the North America are increasing consumer preferences towards less risky products over traditional products, coupled with easy availability of next generation products in countries of the region. In addition, increasing in number of launches of new next generation products in the region is another factor boosting growth of the target market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Next-Generation Products In Tobacco Market”, By Product Type (Tobacco Heating Product, Vapour Products, Snus, and E-cigarettes) and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - forecast till 2029

The prominent player operating in the next-generation products in tobacco market includes British American Tobacco Plc, Imperial Brands PLC, Philip Morris International Inc., Japan Tobacco, Inc., Swedish Match AB company, Turning Point Brands, Inc., and Universal Corporation