Next Generation Tobacco Product Market Growth Trend & Forecast with latest research study released by Delvens evaluating the market risk side analysis, highlighting opportunities, and leveraging strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global Next Generation Tobacco Product market.
The global Next Generation Tobacco Product market size was estimated at USD 26.02 billion in 2023 and is projected to reach USD 54.7 billion in 2030 at a CAGR of 11.2% during the forecast period 2023-2030.
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According to the esteemed World Health Organization (WHO), it has been brought to light that more than a staggering 8 million individuals meet their demise annually as a direct consequence of tobacco use. The utilization of tobacco has been established to induce and provoke various afflictions, namely cardiovascular and respiratory diseases, on top of a plethora of over 20 various subtypes of cancer, and various other health conditions.
There are a multitude of factors which are responsible for instigating growth in the next-generation tobacco product market, such as the escalating demand for next-generation tobacco products, the ubiquity of diseases that are linked to the usage of tobacco products, the increasing consumption of tobacco products amongst female individuals and students, and the augmenting investments that are being made towards the advancement of next-generation tobacco products
Regional Analysis
Asia-Pacific to Dominate the Market
The Asia-Pacific region has emerged as the frontrunner in the next generation tobacco products market, owing to the increasing significance of advertising as a crucial mechanism for marketing the various product forms on satellite television and social media channels within this particular geographic region.
On the other hand, the Middle East and Africa region is poised to witness a remarkable expansion in the coming years, as evidenced by the projected significant growth rate.
Competitive Landscape
· Adris grupa
· Altadis
· Altria Group Inc.
· American electronic cigarette company
· Arnold André GmbH & Co. KG
· British American Tobacco (BAT)
· China National Tobacco Corporation
· Davidoff
· Dharampal Satyapal
· DS Group
· Eastern Tobacco Company
· Fiedler & Lundgren AB
· FIN Branding Group LLC.
· Gajane AB
· Global Horizon Ventures Limited (GHVL)
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Recent Developments
In Oct 2021, the Food and Drug Administration granted electronic cigarette and related items to remain on the market in the United States. R.J. Reynolds Vapor Company received approval for their Vuse Solo electronic nicotine delivery system device and tobacco-flavoured e-liquid pods.
In July 2021, Philip Morris International Inc. (PMI) has agreed to acquire Fertin Pharma A/S (Fertin Pharma). Fertin's wide portfolio of technologies, expanding business mix, and world-class experience will enhance innovation pipeline and capabilities, enabling PMI to achieve its aim of increasing net revenues from smoke-free products by offering speed and scale in oral administration.
The Next Generation Tobacco Product Market is segmented into various segments such as By Device Type, By System, By Product Type, By Component, By Distribution Channel, By Age Group, and Region:
Based on Device Type
· e-Cigarettes
· Vaps
· Mods
· e-Hookahs
· Pens
Based on the System
· Open Vaping System
· Closed Vaping System
· Semi-Closed System
Based on the Product Type
· Tobacco Heating Products
· Vapour Products
· Snus Products
Based on Component
· Online
· Atomizer
· Vape Mod
· Cartomizer
· E-liquid
· Battery
Based on Distribution Channel
· Online
· Convenience Store
· Drug Store
· Specialty E-cigarette Store
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In addition to the market data for the Next Generation Tobacco Product Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
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