“Next-Generation Products in the Tobacco market are valued at $32.8bn in 2019” says new Visiongain report

24 April 2019
Packaging

Visiongain has launched a new packaging report Next-Generation Products in the Tobacco Market Report 2019-2029: Forecasts by Product Type (Tobacco Heating Products, Vapour Products, Snus, and E-cigarettes) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.

In recent years, the demand and consumption of next-generation products in the tobacco market has increased at a considerable rate across the globe. This is primarily attributed to changing consumer preferences towards less harmful tobacco products over cigarette across the globe. Additionally, increasing investments in next-generation tobacco products by key players over the globe is expected to boost the growth of the global next-generation products in the tobacco market at a significant rate during the forecast period between 2019 and 2029. For instance, British American Tobacco have invested approximately US$2.5 billion in the development and commercialisation of new generation products such as tobacco heating products, snus, and vapour products.

The next-generation products in the tobacco market are estimated to be valued at US$32.8bn in 2019 and the market is expected to record fairly moderate growth rates over the next ten years. This is primarily attributed to an increase in the number of launches of new next-generation products across the globe owing to the changing perception of end-users towards e-vapour and e-cigarettes. For instance, Philip Morris International Inc. a leading market player in next-generation products has launched its first next-generation vapour products Heat-not-Burn (HnB) device. In addition, iQOS a heated tobacco product was launched in Japan in 2016 by Philip Morris International Inc. which became an immediate sensation. In contrast, stringent government regulations associated with the tobacco and advertising is a major factor expected to restrain the growth of the global next-generation products in the tobacco market over the forecast period, especially in developing countries during the forecast period between 2019 and 2029.

The Visiongain report analyst commented "An increase in awareness and a change in consumer perception, coupled with their shift towards less harmful tobacco products are major factors driving the growth of the global next-generation products in the tobacco market, especially in developing countries. Growing investments in next-generation products by the world’s leading key players in tobacco industry such as British American Tobacco and Imperial Tobacco, owing to harm reduction strategies is one among the major factors expected to propel the growth of the target market during the forecast period."

Leading companies profiled in the report who are British American Tobacco, Imperial Brands PLC, Japan Tobacco Inc., JUUL Labs, Inc., KT&G Corporation, Philip Morris International, Reynolds American Inc., Swedish Match AB, Turning Point Brands, and Universal Corporation.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports is focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

“Cosmetic Packaging market is worth $29.2 billion in 2019” says Visiongain report

The cosmetic packaging market is a comparatively large market with a majority of the largest revenue-generating companies involved in the business, and all the factors analysed in this report illustrate that the industry will continue to exhibit significant growth in the next ten years, providing excellent commercial opportunities worldwide.

08 August 2019

Read

“Soft Drink Packaging market is valued at $25,386mn in 2019” says new Visiongain report

The global soft drink packaging market is anticipated to experience moderate growth over the forecast period.

24 June 2019

Read

“The Returnable Packaging market is valued at $39.9bn in 2019” says new Visiongain report

The government’s growing attention towards minimisation of waste arising due to packaging disposal coupled with an increase in trading activities globally is propelling the demand for the global returnable packaging market.

13 June 2019

Read

“Glass Packaging market worth $57 billion in 2019” says visiongain report

The global Glass packaging market is operating at the growth phase of its likely to grow towards saturation over the forthcoming years.

03 June 2019

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever