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Heat not Burn (HNB) Tobacco Market - Global Outlook and Forecast 2020-2025

March 2020 | 247 pages | ID: HCA6BB1D2613EN
Arizton Advisory & Intelligence

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The global heat not burn tobacco market is expected to grow at a CAGR of over 22% during the period 2019–2025.

The heat not burn tobacco market is growing at a tremendous rate due to an increase in the popularity of HnB products and devices in the US, Japan, and South Korea. With the increase in demand and the increasing awareness of health concerns, the HnB tobacco market is growing rapidly across the globe. The APAC region enjoys major shares because of the large smoking population and continuous shift toward innovative smoking products. The market is witnessing the introduction of innovative products to drive the sale as end-users are looking for enhanced smoking experience. Thus, the introduction of HnB products in the market has disrupted the revenue of traditional cigarettes up to an extent. Although the sale of HnB products is lower than traditional cigarettes, the sale and revenue of large tobacco companies are witnessing a decline. These products are experiencing popularity among existing smokers and ex-smokers as they offer a different vaping sensation. Cost efficiency and easy availability are the other major drivers for growth. However, owing to stringent government regulations, the HnB tobacco market is witnessing hindrance in its growth.

The following factors are likely to contribute to the growth of the heat not burn tobacco market during the forecast period:
  • Growth in Merger & Acquisition Activities
  • Increase in Investment Opportunities
  • Promotion via Social Marketing
  • Rise in the Techno Savvy population
The study considers the present scenario of the HnB tobacco market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Heat not Burn Tobacco Market: Segmentation

This research report includes a detailed segmentation by products, distribution, and geography. HnB tobacco devices are emerging as the best alternative for tobacco. They have become popular with consumers since they are easy to use, safe, and adequately mimic the experience of smoking. Innovation and competition have produced a new generation of HnB products that are changing the tobacco landscape. The industry is growing rapidly in Europe, especially in the UK, Italy, Poland, and France. The HnB tobacco market will double in Western Europe during the forecast period. Although the share of HnB products is minuscule when compared to cigarettes, they are expected to grow. The HnB consumables market is expected to grow at a CAGR of over 20%. The demand for capsules and cartridges is growing with the increasing purchase of HnB devices.

The sale of HnB products takes place via two major distribution channels - retail and online. The majority of the revenue comes from retail distribution channels such as convenience stores, tobacco shops, grocery shops, drug stores, and supermarkets. The distribution environment is rapidly evolving with systems, and processes are being upgraded at a rapid pace. Changes are being spurred by expanding competition, accelerating digitization, constant disintermediation, and consumerization of expectations. As the heat not burn tobacco market is highly consumer-centric, distributors are increasingly focusing on extending their reach to vape stores and local outlets. The online sale contributed over a 6% share of the overall revenue to the global market in 2019, propelled in large by the demand from retailers, dealers, and consumers for a multi-channel approach and support. HnB products are also sold majorly through vendor websites and online retailers. A lot of offline distributors are moving the sale process online by incorporating e-commerce solutions and enterprise resource planning systems.

Market Segmentation by Distribution
  • Retail
    • Convenience Stores
    • Tobacco Shops
    • Grocery Shops
    • Drug Shops
    • Others
  • Online
    • Company & E-commerce Websites
Market Segmentation by Product
  • Devices
    • Direct/Indirect Heating
    • Hybrid/Infused
  • Consumables
    • Tobacco Capsules and Cartridges
    • Tobacco Sticks
Insights by Geography

The US vapor product market is growing consistently after the authorization of HnB products sale by the FDA within the country. This will help North America to increase its shares as smokers in the US to become health conscious. One of the major influencing factors propelling the growth in the region is the increasing availability of HnB products in retail shops and over the internet. The popularity of heat not burn products has been fostered due to the easy availability of vapor products in the market. With retailers stocking vape products, they are increasingly witnessing a surge in their popularity in the region.

APAC remains to be looked upon as the largest potential market for HnB products during the forecast period. Advances in lifestyle coupled with rising consumer expenditure are likely to increase the consumption of HnB vapor products in APAC during the forecast period. However, the region faces several challenges such as proposals to regulate vapor products, impose high taxes, and ban vapor products in the region. Besides, an increase in counterfeit products and unregulated manufacturing processes are hindering the growth of the APAC market.

One of the major reasons behind the high adoption of HnB products among Europeans is an increase in the per capita disposable income of end-consumers. An improving economy in many European countries has increased disposable income in Europe. Another major reason for the growth in the European region is the favorable retail environment. The retail environment in Western European countries is known to be characterized by heavy discounting. Besides, end-users in these countries are known to have a high annual saving ratio.

Brazil has banned the usage and consumption of tobacco in the country and has imposed taxes on cigarettes. Despite the recent increase in taxes on cigarettes in Brazil, cigarettes are still sold at lower prices than cigarettes in Argentina, Peru, Suriname, and Uruguay, so Brazil has great potential further for the companies to penetrate the market.

Market Segmentation by Geography
  • Europe
    • Spain
    • Germany
    • Italy
    • France
    • UK
    • Poland
    • Russia
    • Czech Republic
    • Romania
  • North America
    • US
    • Canada
  • APAC
    • South Korea
    • China
    • Japan
    • Australia & New Zealand
    • Malaysia
  • MEA
    • UAE
    • South Africa
    • Egypt
Insights by Vendors

The acceptance rate of HnB products among smokers worldwide has been impressive. The heat not burn tobacco market has witnessed the entry of several new vendors. The competition among these companies has increased, leading to the introduction of several innovative and advanced products. These players compete on several factors, such as price, availability, brand, and safety. However, the price is set to become a major base for the competition among players to gain a competitive edge. Further, the growth of vendors depends on its condition, GDP growth, and industry development. High capital requirements and rapid advances in technology are major entry barriers for new players.

Key Vendors
  • Philip Morris International
  • Japan Tobacco International (JTI)
  • British American Tobacco
  • Imperial Brands
Other Prominent Vendors
  • KT&G Corp.
  • Eli Lilly and Company
  • RJ Reynolds Vapor Company (RJRVC)
  • Shenzhen AVBAD Technology Company Ltd.
  • Pax Labs
  • Vapor Tobacco Manufacturing
  • Shenzhen Royal Tobacco Industrial Limited (Royal Tobacco)
  • JOUZ
  • Shenzhen Yukan Intelligent Technology Co. Ltd.
  • Anlerr
  • HI TASTE
  • Shenzhen Kamry Technology
  • Yetr Amus
  • Shenzhen Yunxi Technology
  • AIIR Technology (Shenzhen)
  • Buddy Technology Development
  • Shenzhen Original Technology
  • Fog & Frog Technology (Shenzhen)
  • YanB Technology Shenzhen
  • Coeus
  • CCBATO
  • Dongguan Hawei Electronic Technology Limited
  • Dongguan Cigwin Technology
  • Shenzhen Keeptech Electronics
Key Market Insights

The analysis of the heat not burn tobacco market provides sizing and growth opportunities for the period 2020–2025.
  • Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
  • Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
  • Delivers a complete overview of segments and the regional outlook of the market.
  • Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain a competitive advantage
1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 Market Definition
  4.1.1 Inclusions
  4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
  4.3.1 Market Segmentation by Product
  4.3.2 Market Segmentation by Distribution Channel
  4.3.3 Market Segmentation by Geography

5 REPORT ASSUMPTIONS & CAVEATS

5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Terminologies
5.4 Pricing Assumption
5.5 Market Derivation

6 MARKET AT A GLANCE

7 INTRODUCTION

7.1 Overview
7.2 Working Mechanism Of HnB Tobacco Devices Systems
  7.2.1 HnB Tobacco Devices
7.3 Macroeconomic Factors Enabling Market Growth
  7.3.1 Economic Development
  7.3.2 Per Capita GDP in Developing Markets
  7.3.3 Dual-income Households in Developed Markets

8 MARKET OPPORTUNITIES & TRENDS

8.1 Growing Mergers & Acquisitions
8.2 Growing Opportunities for Investment
8.3 Shift from Smoking Toward Heated Tobacco

9 MARKET GROWTH ENABLERS

9.1 Social Marketing Techniques Used for Promotion
9.2 Growing Techno Savvy Population
9.3 Growing Distribution Network

10 MARKET RESTRAINTS

10.1 Campaigns Run by Health Organization
10.2 Regulations Restricting the Distribution Of HnB Products
10.3 Increased Concerns About Human Health

11 MARKET LANDSCAPE

11.1 Historical Data 2015?2018
11.2 Market Size & Forecast
11.3 Health Concern Analysis
  11.3.1 Overview
  11.3.2 Negative Reviews
  11.3.3 Positive Reviews
11.4 Market by Geography
11.5 Five Forces Analysis
  11.5.1 Threat of New Entrants
  11.5.2 Bargaining Power of Suppliers
  11.5.3 Bargaining Power of Buyers
  11.5.4 Threat of Substitutes
  11.5.5 Competitive Rivalry

12 VALUE CHAIN ANALYSIS

12.1 Overview
12.2 Value Chain Analysis
  12.2.1 Raw Materials Suppliers
  12.2.2 Manufacturers
  12.2.3 Dealers/Distributors/Retailers
  12.2.4 End-users

13 PRODUCT

13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Sub-Product – Market Snapshot & Growth Engine
13.4 HNB Tobacco Devices
  13.4.1 Market Size & Forecast
  13.4.2 Market by Geography
13.5 Direct/Indirect Heating HnB Tobacco
  13.5.1 Market Size & Forecast
  13.5.2 Market by Geography
13.6 Infused/Hybrid HnB Tobacco Devices
  13.6.1 Market Size & Forecast
  13.6.2 Market by Geography
13.7 HnB Tobacco Consumables
  13.7.1 Market Size & Forecast
  13.7.2 Market by Geography
13.8 HnB Tobacco Sticks
  13.8.1 Market Size & Forecast
  13.8.2 Market by Geography
13.9 HnB Tobacco Capsules & Cartridges
  13.9.1 Market Size & Forecast
  13.9.2 Market by Geography

14 DISTRIBUTION CHANNEL

14.1 Market Overview
14.2 Manufacturing, Production, & Distribution
14.3 Distribution Through Retail Stores
14.4 Distribution Through Online Websites
14.5 Shifting Manufacturing Bases

15 GEOGRAPHY

15.1 Market Snapshot & Growth Engine
15.2 Geographic Overview

16 NORTH AMERICA

16.1 Market Size & Forecast
16.2 Product
  16.2.1 Market Size & Forecast
16.3 Key Countries
  16.3.1 Market Snapshot & Growth Engine
  16.3.2 US: Market Size & Forecast
  16.3.3 Canada: Market Size & Forecast

17 APAC

17.1 Market Size & Forecast
17.2 Product
  17.2.1 Market Size & Forecast
17.3 Key Countries
  17.3.1 Market Snapshot & Growth Engine
  17.3.2 Japan: Market Size & Forecast
  17.3.3 China: Market Size & Forecast
  17.3.4 Malaysia: Market Size & Forecast
  17.3.5 Australia & New Zealand: Market Size & Forecast
  17.3.6 South Korea: Market Size & Forecast

18 EUROPE

18.1 Market Size & Forecast
18.2 Product
  18.2.1 Market Size & Forecast
18.3 Key Countries
  18.3.1 Market Snapshot & Growth Engine
  18.3.2 UK: Market Size & Forecast
  18.3.3 Italy: Market Size & Forecast
  18.3.4 Poland: Market Size & Forecast
  18.3.5 France: Market Size & Forecast
  18.3.6 Germany: Market Size & Forecast
  18.3.7 Spain: Market Size & Forecast
  18.3.8 Russia: Market Size & Forecast
  18.3.9 Romania: Market Size & Forecast
  18.3.10 The Czech Republic: Market Size & Forecast

19 MIDDLE EAST & AFRICA

19.1 Market Size & Forecast
19.2 Product
  19.2.1 Market Size & Forecast
19.3 Key Countries
  19.3.1 Market Snapshot & Growth Engine
  19.3.2 UAE: Market Size & Forecast
  19.3.3 South Africa: Market Size & Forecast
  19.3.4 Egypt: Market Size & Forecast

20 LATIN AMERICA

20.1 Market Size & Forecast
20.2 Product
  20.2.1 Market Size & Forecast
20.3 Key Countries

21 COMPETITIVE LANDSCAPE

21.1 Competition Overview
21.2 Trade Associations and Industry Bodies
  21.2.1 Smoke-free Alternatives Trade Association (SFATA)
  21.2.2 Electronic Cigarette Industry Trade Association (ECITA)
  21.2.3 American Vaping Association (AVA)
  21.2.4 Vapor Technology Association (VTA)
21.3 Market Share Analysis

22 KEY COMPANY PROFILES

22.1 Philip Morris International
  22.1.1 Business Overview
  22.1.2 Philip Morris International in HnB Tobacco Market
  22.1.3 Product Offerings
  22.1.4 Key Strategies
  22.1.5 Key Strengths
  22.1.6 Key Opportunities
22.2 JAPAN TOBACCO INTERNATIONAL (JTI)
  22.2.1 Business Overview
  22.2.2 Japan Tobacco International in HnB Tobacco Market
  22.2.3 Product Offerings
  22.2.4 Key Strategies
  22.2.5 Key Strengths
  22.2.6 Key Opportunities
22.3 British American Tobacco
  22.3.1 Business Overview
  22.3.2 British American Tobacco in HnB Tobacco Market
  22.3.3 Product Offerings
  22.3.4 Key Strategies
  22.3.5 Key Strengths
  22.3.6 Key Opportunities
22.4 Imperial Brands
  22.4.1 Business Overview
  22.4.2 Imperial Brands in HnB Tobacco Market
  22.4.3 Product Offerings
  22.4.4 Key Strategies
  22.4.5 Key Strengths
  22.4.6 Key Opportunities

23 OTHER PROMINENT VENDORS

23.1 KT&G ( Korea Tomorrow& Global Corporation)
  23.1.1 Business Overview
  23.1.2 Product Offerings
  23.1.3 Key Strategies
  23.1.4 Key Strengths
23.2 RJ Reynolds Vapor Company
  23.2.1 Business Overview
  23.2.2 Product Offerings
  23.2.3 Key Strategies
  23.2.4 Key Strengths
23.3 Shenzhen Avbad Technology Company Ltd.
  23.3.1 Business Overview
  23.3.2 Product Offerings
  23.3.3 Key Strategies
  23.3.4 Key Strengths
23.4 PAX Labs
  23.4.1 Business Overview
  23.4.2 Product Offerings
  23.4.3 Key Strategies
  23.4.4 Key Strengths
23.5 Vapor Tobacco Manufacturing
  23.5.1 Business Overview
  23.5.2 Product Offerings
  23.5.3 Key Strategies
  23.5.4 Key Strengths
23.6 Shenzhen Royal Tobacco Industrial Limited (Royal Tobacco)
  23.6.1 Business Overview
  23.6.2 Product Offerings
  23.6.3 Key Strategies
  23.6.4 Key Strengths
23.7 JOUZ
  23.7.1 Business Overview
  23.7.2 Product Offerings
  23.7.3 Key Strategies
  23.7.4 Key Strengths
23.8 Shenzhen Yukan Intelligent Technology
  23.8.1 Business Overview
  23.8.2 Product Offerings
  23.8.3 Key Strategies
  23.8.4 Key Strengths
23.9 ANLERR
  23.9.1 Business Overview
  23.9.2 Product Offerings
  23.9.3 Key Strategies
  23.9.4 Key Strengths
23.10 HI TASTE
  23.10.1 Business Overview
  23.10.2 Product Offerings
  23.10.3 Key Strategies
  23.10.4 Key Strengths
23.11 Shenzhen Kamry Technology
  23.11.1 Business Overview
  23.11.2 Product Offerings
  23.11.3 Key Strategies
  23.11.4 Key Strengths
23.12 YETR AMUS
  23.12.1 Business Overview
  23.12.2 Product Offerings
  23.12.3 Key Strategy
  23.12.4 Key Strength
23.13 Shenzhen Yunxi Technology
  23.13.1 Business Overview
  23.13.2 Product Offerings
  23.13.3 Key Strategies
  23.13.4 Key Strength
23.14 AIIR TECHNOLOGY (SHENZHEN)
  23.14.1 Business Overview
  23.14.2 Product Offerings
  23.14.3 Key Strategies
  23.14.4 Key Strengths
23.15 Buddy Technology Development
  23.15.1 Business Overview
  23.15.2 Product Offerings
  23.15.3 Key Strategy
  23.15.4 Key Strengths
23.16 Shenzhen Original Technology
  23.16.1 Business Overview
  23.16.2 Product Offerings
  23.16.3 Key Strategies
  23.16.4 Key Strengths
23.17 Fog & Frog Technology (Shenzhen)
  23.17.1 Business Overview
  23.17.2 Product Offerings
  23.17.3 Key Strategies
  23.17.4 Key Strengths
23.18 Yanb Technology Shenzhen
  23.18.1 Business Overview
  23.18.2 Product Offerings
  23.18.3 Key Strategies
  23.18.4 Key Strengths
23.19 COEUS
  23.19.1 Business Overview
  23.19.2 Product Offerings
  23.19.3 Key Strategies
  23.19.4 Key Strengths
23.20 CCBATO
  23.20.1 Business Overview
  23.20.2 Product Offerings
  23.20.3 Key Strategy
  23.20.4 Key Strengths
23.21 Dongguan Hawei Electronic Technology
  23.21.1 Business Overview
  23.21.2 Product Offerings
  23.21.3 Key Strategies
  23.21.4 Key Strength
23.22 Dongguan Cigwin Technology
  23.22.1 Business Overview
  23.22.2 Product Offerings
  23.22.3 Key Strategies
  23.22.4 Key Strengths
23.23 Shenzhen Keeptech Electronics
  23.23.1 Business Overview
  23.23.2 Product Offerings
  23.23.3 Key Strategies
  23.23.4 Key Strengths

24 REPORT SUMMARY

24.1 Key Takeaways
24.2 Strategic Recommendations

25 QUANTITATIVE SUMMARY

25.1 Geography
  25.1.1 Market Size & Forecast
25.2 North America
  25.2.1 Market Size & Forecast – Product
25.3 APAC
  25.3.1 Market Size & Forecast – Product
25.4 Europe
  25.4.1 Market Size & Forecast – Product
25.5 Middle East & Africa
  25.5.1 Market Size & Forecast – Product
25.6 Latin America
  25.6.1 Market Size & Forecast – Product
25.7 Product
  25.7.1 Market Size & Forecast
25.8 Sub-Product
  25.8.1 Market Size & Forecast
25.9 HNB Tobacco Devices
  25.9.1 Market Size & Forecast by Geography
25.1 HNB Tobacco Consumables
  25.10.1 Market Size & Forecast by Geography
25.11 HNB Direct/Indirect Heating Devices
  25.11.1 Market Size & Forecast by Geography
25.12 HNB Hybrid/Infused Devices
  25.12.1 Market Size & Forecast by Geography
25.13 HNB Tobacco Sticks
  25.13.1 Market Size & Forecast by Geography
25.14 HNB TOBACCO CAPSULES & CARTRIDGES
  25.14.1 Market Size & Forecast by Geography

26 APPENDIX

26.1 Abbreviations

LIST OF EXHIBITS

Exhibit 1 Segmentation of Global HnB Tobacco Market
Exhibit 2 Market Size Calculation Approach 2019
Exhibit 3 Percentage Usage of HnB Device of Top Brands by Age Group (Years) During 2015?2018
Exhibit 4 Overview of HnB Devices Market
Exhibit 5 Comparison of Nicotine Levels in HnB Tobacco Sticks and Tobacco Cigarettes
Exhibit 6 Types and Components of HnB Tobacco Devices
Exhibit 7 GDP Growth 2010?2023 (annual % change)
Exhibit 8 Average Global GDP Growth 2019 (annual % change)
Exhibit 9 Dual-income Households in US (1982 vs. 2017)
Exhibit 10 Impact of Growing Mergers & Acquisitions
Exhibit 11 Impact on Growing Opportunities for Investment
Exhibit 12 Impact of Shift from Smoking towards Heated Tobacco
Exhibit 13 Benefits of HnB Tobacco
Exhibit 14 Likeability of Harm from different tobacco product
Exhibit 15 Impact of Social Marketing Techniques Used for Promotion
Exhibit 16 Impact of Growing Techno Savvy Population
Exhibit 17 Impact of Growing Distribution Network
Exhibit 18 Impact of Campaigns run by Health Organization
Exhibit 19 Impact of Regulations Restricting the Distribution of HnB Products
Exhibit 20 Impact of Increased Concerns about Human Health
Exhibit 21 Young Adult Smoking Rate
Exhibit 22 Global HnB Tobacco Market: Historical Data 2015?2018 ($ billion)
Exhibit 23 Global HnB Tobacco Market 2019–2025 ($ billion)
Exhibit 24 Reasons Cited by End-users to Shift Toward Vapor Products (Percentage of Regular Users)
Exhibit 25 Global Urban and Rural Human Population 1950?2050 (million)
Exhibit 26 Prevalence of Tobacco Smoking and Use of HnB Tobacco Devices in Selected Countries (percentage of adults) 2019
Exhibit 27 Tobacco Products End-users by Tobacco Smoking Characteristics 2015 (percentage of end-users)
Exhibit 28 Five Forces Analysis 2019
Exhibit 29 Value Chain Analysis of HnB Tobacco Market
Exhibit 30 Upstream Raw Material Process
Exhibit 31 Incremental Growth by Product 2019 & 2025
Exhibit 32 Various Types of HnB Tobacco: Overview
Exhibit 33 Global HnB Tobacco Market by Product 2019 and 2025
Exhibit 34 Global HnB Tobacco Market by Product 2019 and 2025
Exhibit 35 Incremental Growth by Sub-product 2019 & 2025
Exhibit 36 Global HnB Tobacco Devices Market 2019?2025 ($ billion)
Exhibit 37 Global Direct /Indirect Heating HnB Tobacco Devices 2019?2025 ($ billion)
Exhibit 38 Penetration of Direct/Indirect Heating in HnB Tobacco Markets in Selected Countries 2019
Exhibit 39 Global Infused/Hybrid HnB Tobacco Devices Market 2019?2025 ($ billion)
Exhibit 40 Global HnB Tobacco Consumables Market 2019–2025 ($ billion)
Exhibit 41 Global HnB Tobacco Sticks Market 2019?2025 ($ billion)
Exhibit 42 Global HnB Tobacco Capsules & Cartridges Market 2019?2015 ($ billion)
Exhibit 43 Various Distribution Channels of HnB tobacco
Exhibit 44 Distribution Channel of Traditional Tobacco Cigarettes
Exhibit 45 Distribution Channel Flow of Vapor Products
Exhibit 46 Global HnB Tobacco Market by Distribution Channel 2019
Exhibit 47 Global HnB Tobacco Device Market by Distribution Channel 2019
Exhibit 48 Global HnB Tobacco Consumables Market by Distribution Channel 2019
Exhibit 49 Incremental Growth by Geography 2019 & 2025
Exhibit 50 Market Share of Geographies in HnB Tobacco Market 2019 & 2015
Exhibit 51 Market Share of Geographies in HnB Tobacco Market 2019 & 2015
Exhibit 52 CAGRs of Key Geographies 2019?2025
Exhibit 53 HnB Tobacco Market in North America 2019?2025 ($ billion)
Exhibit 54 Annual Saving Ratio US 2008-2017
Exhibit 55 Change in US GDP Growth Rate (2006?2018)
Exhibit 56 North America: HnB Tobacco Market by Product 2019?2025 ($ billion)
Exhibit 57 Incremental Growth in North America 2019 & 2025
Exhibit 58 HnB Tobacco Market in the US 2019–2025 ($ billion)
Exhibit 59 HnB Tobacco Market in Canada 2019–2025 ($ billion)
Exhibit 60 HnB Tobacco Market in APAC 2019?2025 ($ billion)
Exhibit 61 Incremental Growth in APAC in 2019 & 2025
Exhibit 62 HnB Tobacco Market in Japan 2019?2025 ($ billion)
Exhibit 63 HnB Tobacco Market in China 2019?2025 ($ billion)
Exhibit 64 HnB Tobacco Market in Malaysia 2019?2025 ($ billion)
Exhibit 65 HnB Tobacco Market in Australia & New Zealand 2019?2025 ($ billion)
Exhibit 66 HnB Tobacco Market in South Korea 2019?2025 ($ billion)
Exhibit 67 HnB Tobacco Market in Europe in 2019?2025 ($ billion)
Exhibit 68 Incremental Growth in Europe in 2019 & 2025
Exhibit 69 HnB Tobacco Market in UK 2019?2025 ($ billion)
Exhibit 70 HnB Tobacco Market in Italy 2019?2025 ($ billion)
Exhibit 71 HnB Tobacco Market in Poland 2019?2025 ($ billion)
Exhibit 72 HnB Tobacco Market in France 2019?2025 ($ billion)
Exhibit 73 Growing Tobacco Smoking in Germany 2019?2025 (%)
Exhibit 74 HnB Tobacco Market in Germany 2019?2025 ($ billion)
Exhibit 75 HnB Tobacco Market in Spain 2019?2025 ($ billion)
Exhibit 76 HnB Tobacco Market in Russia 2019?2025 ($ billion)
Exhibit 77 HnB Tobacco Market in Romania 2019?2025 ($ billion)
Exhibit 78 HnB Tobacco Market in Czech Republic 2019–2025 ($ billion)
Exhibit 79 HnB Tobacco Market in Middle East & Africa 2019?2025 ($ billion)
Exhibit 80 Incremental Growth in Middle East & Africa in 2019 & 2025
Exhibit 81 HnB Tobacco Market in UAE 2019?2025 ($ billion)
Exhibit 82 HnB Tobacco Market in South Africa in 2019?2025 ($ billion)
Exhibit 83 HnB Tobacco Market in Egypt 2019?2025 ($ billion)
Exhibit 84 HnB Tobacco Market in Latin America in 2019?2025 ($ million)
Exhibit 85 Global HnB Tobacco Market Vendor Share (2019)

LIST OF TABLES

Table 1 Key Caveats
Table 2 Currency Conversion 2013?2019
Table 3 Various Terminologies Used in Report
Table 4 Pricing Assumptions
Table 5 Real GDP per Capita Growth in Several Asian Developing Countries 2013–2018
Table 6 Fastest Growing Eastern & Central European Economies 2018
Table 7 Global HnB Tobacco Market by Geography 2019?2025 ($ billion)
Table 8 Global HnB Tobacco Devices market 2019?2025 ($ billion)
Table 9 Global Direct /Indirect Heating HnB Tobacco Devices Market 2019?2025 ($ billion)
Table 10 Global Infused/Hybrid HnB Tobacco Devices Market 2019?2025 ($ billion)
Table 11 Global HnB Tobacco Consumables Market by Geography 2019?2025 ($ billion)
Table 12 Global HnB Tobacco Sticks Market by Geography 2019?2025 ($ billion)
Table 13 Global HnB Tobacco Capsules & Cartridges Market by Geography 2019?2025 ($ billion)
Table 14 APAC: HnB Devices Market by Product 2019?2025 ($ billion)
Table 15 Europe: HnB Tobacco Market by Product 2019?2025 ($ billion)
Table 16 Middle East & Africa: HnB Devices Market by Product 2019?2025 ($ billion)
Table 17 Latin America: HnB Tobacco Market by Product 2019?2025 ($ million)
Table 18 Phillip Morris International: Major Product Offerings
Table 19 Japan Tobacco International: Major Product Offerings
Table 20 British American Tobacco: Major Product Offerings
Table 21 Imperial Brands: Major Product Offerings
Table 22 KT&G: Major Product Offerings
Table 23 RJ Reynolds Vapor Company: Major Product Offerings
Table 24 Shenzhen AVBAD: Major Product Offerings
Table 25 PAX Labs: Major Product Offerings
Table 26 Vapor Tobacco Manufacturing: Major Product Offerings
Table 27 Shenzhen Royal Tobacco Industrial Limited (Royal Tobacco) : Major Product Offerings
Table 28 JOUZ: Major Product Offerings
Table 29 Shenzhen Yukan Intelligent Technology: Major Product Offerings
Table 30 Anlerr: Major Product Offerings
Table 31 HI TASTE: Major Product Offerings
Table 32 Shenzhen Kamry Technology: Major Product Offerings
Table 33 Yetr Amus: Major Product Offerings
Table 34 Shenzhen Yunxi Technology: Major Product Offerings
Table 35 AIIR Technology (Shenzhen): Major Product Offerings
Table 36 Buddy Technology Development: Major Product Offerings
Table 37 Shenzhen Original Technology: Major Product Offerings
Table 38 Fog & Frog Technology (Shenzhen): Major Product Offerings
Table 39 YanB Technology Shenzhen: Major Product Offerings
Table 40 Coeus: Major Product Offerings
Table 41 CCBATO: Major Product Offerings
Table 42 Dongguan Hawei Electronic Technology: Major Product Offerings
Table 43 Dongguan Cigwin Technology: Major Product Offerings
Table 44 Shenzhen Keeptech Electronics: Major Product Offerings
Table 45 Global HnB Tobacco Market by Geography 2019?2025 ($ billion)
Table 46 HnB Tobacco Market in North America by Product 2019?2025 ($ billion)
Table 47 HnB Tobacco Market in APAC by Product 2019?2025 ($ billion)
Table 48 HnB Tobacco Market in Europe by Product 2019?2025 ($ billion)
Table 49 HnB Tobacco Market in Middle East & Africa by Product 2019?2025 ($ billion)
Table 50 HnB Tobacco Market in Latin America by Product 2019?2025 ($ million)
Table 51 Global HnB Tobacco Market by Product 2019?2025 ($ billion)
Table 52 Global HnB Tobacco Market by Sub-Product 2019?2025 ($ billion)
Table 53 Global HnB Tobacco Devices Market 2019?2025 ($ billion)
Table 54 Global HnB Tobacco Consumables Market 2019?2025 ($ billion)
Table 55 Global HnB Direct/Indirect Heating Devices Market 2019?2025 ($ billion)
Table 56 Global HnB Hybrid/Infused Devices Market 2019?2025 ($ billion)
Table 57 Global HnB Tobacco Sticks Market 2019?2025 ($ billion)
Table 58 Global HnB Tobacco Capsules & Cartridges Market 2019?2025 ($ billion)


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