Hot Tobacco Market By Competitive Landscape, Consumer Segmentation, Advertising And Market Forecast To 2032|Philip Morris International, Japan Tobacco International (JTI), British American Tobacco., Imperial Brands, KT&G Corp.

The Hot Tobacco Global Market Report 2023 by The Business Research Company, provides hot tobacco market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Hot Tobacco Global Market Report 2023, the market size is expected to grow from $7.86 billion in 2022 to $8.2 billion in 2023 at a compound annual growth rate (CAGR) of 4.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global hot tobacco is expected to grow from $9.53 billion in 2027 at a CAGR of 3.8%.

The approvals by the government bodies are anticipated to drive the demand for the hot tobacco market products during the period.

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The hot tobacco market is segmented:

1) By Product: HNB Tobacco Devices, Direct/Indirect Heating HnB TobacCo., Infused/Hybrid HnB Tobacco Devices, HnB Tobacco Consumables, HnB Tobacco Sticks, HnB Tobacco Capsules & Cartridges

2) By Type: Devices, Capsules, Vaporizers

3) By Distribution Channel: Retail Stores, Online

The launch of new heated tobacco products across the globe is a leading trend driving the growth of the hot tobacco market products. For instance, in August 2021, Japan Tobacco Inc., a Japan-based company operating in the heated tobacco company, introduced Ploom X, its next-generation heated tobacco device. Ploom X is equipped with a new heating technology, HEATFLOW®, which focuses on airflow, significantly improving user experience, and Bluetooth® capabilities that allow users to connect with their smartphones, view the battery level, lock the device, and do a lot more. Therefore, the continuous launch of new hot tobacco products into the market is projected to be a major trend in the hot tobacco market over the coming years.

The hot tobacco market report table of contents includes: