Heated tobacco market soon worth $30bn

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Heated tobacco market set to top $30bn in 2024 –and could a US launch push it even higher

The worldwide market for heated tobacco is expected to top $30bn in 2024, according to analysis from TobaccoIntelligence – and could grow even bigger if the product becomes widely available in the US.

This year, the market is worth $28bn, virtually all of it from the European and APAC regions, according to TobaccoIntelligence’s recent report A global overview and analysis of the evolution of the heated tobacco industry.

There are around 40m users worldwide, with Japan and Italy the major markets by some distance.

But if heated tobacco is finally launched in a major way on the US market, as widely expected to happen soon, growth could be even faster than forecast.

Heated tobacco devices – also known as “heat-not-burn” or HnB – heat tobacco leaf instead of burning it, providing an inhalable vapour that delivers nicotine to users. The technology can be seen as a halfway house between the conventional cigarette and the e-cigarette, and the system is generally believed to be less risky than conventional smoking.

“Heated tobacco has been an extraordinary success story in Japan, and to some extent in a few other countries too. But it’s never quite had the same high profile as vaping, perhaps because of its absence from the US scene,” said Barnaby Page, editorial director at TobaccoIntelligence’s parent company Tamarind Intelligence.

“That now looks very likely to change, and it could be the catalyst for heated tobacco products to become as significant as the e-cigarette in the world of reduced-risk nicotine,” Page said.

“Potential launches in China and in lower-to-middle-income countries could also increase the role that heated tobacco plays in harm reduction, as well as further growing the market,” he added.

ENDS

About us:

TobaccoIntelligence provides impartial, independent and premium market and regulatory analysis, legal tracking, and quantitative data for the nicotine and tobacco alternatives sector worldwide.

We provide our clients with the tools to navigate this fast-moving sector, tailor their business strategy, optimise resources, and make informed decisions. Our global perspective on the international alternative tobacco and nicotine sector offers valuable data such as market trends, key players, regulatory obligations and industry dynamics.

 It is published by Tamarind Intelligence, which also produces ECigIntelligence and CannIntelligence.

Photo: Kuanzhai

Barnaby Page

Editorial director

Before joining ECigIntelligence in early 2014 as one of its first employees, Barnaby had a 30-year career as a reporter and editor for newspapers, magazines and online services, working in Canada, the US and the Middle East as well as his current British location. He has edited publications covering fields including technology and the advertising industry, and was launch editor of the first large daily online news service in the British regional media. Barnaby also writes on classical music and film for a number of publications. Barnaby manages the editorial and reporting teams and works closely with the analyst teams, to ensure that all content meets high standards of quality and relevance. He also writes for the site occasionally, mostly on science-related issues, and is a member of the Association of British Science Writers.