Latest 2023 Market Research Report on New-Generation Tobacco Products

InsightAce Analytic ptt.Ltd. has announced the release of a market assessment report on the “Global Next-Generation Tobacco Products Market—by device type (e-cigarettes, vapes, mods, electronic hookahs, pens, and other device types), system (open e-cigarette systems, closed e-cigarette systems, semi-closed systems, and other systems), and product type.”

(heated tobacco products, vapor products, snus products, and other product types), components (atomizers, vape mods, cartomizers, e-liquids, batteries, and other components), distribution channels (online purchases, retail stores, convenience stores, pharmacies, newsstands, tobacco shops, specialty vape stores, and other distribution channels), age groups (18–30, 31–44, 45–60, and 61 and above), trends, industry competitive analysis, revenue, and forecasts through 2030.

According to the latest research from InsightAce Analytics, the global next-generation tobacco products market was valued at US$24.83 billion in 2021 and is expected to reach US$67.38 billion by 2030, registering a CAGR of 11.8% during the forecast period from 2022 to 2030.

Nicotine is the main component in tobacco products that prevents people from quitting smoking. The World Health Organization (WHO) estimates that smoking causes more than 8 million deaths each year. To address this issue, tobacco product manufacturers have been adopting innovative solutions to reduce the risk of diseases associated with tobacco use.

Because these products are designed to mimic smoking and can reduce the risk of tobacco-related diseases by preventing the inhalation of toxic substances, next-generation products are a superior alternative to traditional products such as cigarettes.

As more and more products enter the market, demand for next-generation tobacco products continues to rise. During the forecast period, easy access to high-quality products will also have a significant impact on the growth of next-generation tobacco products.

During the forecast period, the next-generation tobacco products market is expected to grow due to the rapid development and commercialization of products including snus, heated tobacco devices, and vapor products. Investment in next-generation tobacco products is also expected to increase substantially during the forecast period, along with a significant rise in tobacco product consumption among women and students.

Market demand for next-generation tobacco products is increasing as consumer disposable income rises. The market also has strong additional growth potential due to rapidly increasing consumer knowledge and product awareness, as well as evolving consumer preferences toward lower-risk tobacco products.

Asia-Pacific is expected to be a major contributor to the next-generation tobacco products market due to increased public awareness of next-generation tobacco products, greater government funding for tobacco product R&D, rising smoking cessation rates, and strong demand for e-cigarettes and vaping devices. In addition, North America’s next-generation tobacco products market is expected to grow significantly during the forecast period, considering increased investment in future products, rising demand for tobacco products, and the growing prevalence of smoking-related diseases.

Major market participants operating in the next-generation tobacco products market include 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), GN Tobacco Sweden AB, Gotlands Snus AB, Gudang Garam, Hay Island Holding Corporation, Healthier Choices Management Corp., Adris Group, Altadis, Altria Group Inc., US e-cigarette companies, Arnold Andr

GmbH & Co. KG, British American Tobacco (BAT), House of Oliver Twist A/S, Imperial Brands, Indian Tobacco Company (ITC) Limited, International Vapor Group, ITC Limited, J Well France, Japan Tobacco Inc., JT International SA, JUUL Labs, KT&G, Rothmans, Ruyan, Sarajevo Tobacco Factory, Scandinavian Tobacco Group, Swedish Match AB, Swisher, Taboca AS, Turning Point Brands, Universal Corporation, V2 Tobacco, Vapor Hub International Inc., Lorillard Tobacco Company, MAHAK Group, Manikchand Group, MCIG Inc., Mighty, Nerudia, Nicotek LLC, NJOY Inc., P.T. Karyadibya Mahardhika, Pax Labs, Philip Morris International Inc. (PMI), Ploom TECH, R.J. Reynolds Vapor Company, Reemtsma Cigarettenfabriken GmbH, Reynolds American Inc., VMR Products LLC, and other notable companies. #p#Page Title#e#

Recent market collaborations and agreements:

In October 2021, the U.S. Food and Drug Administration authorized e-cigarettes and related products to continue being sold in the United States. Tobacco-flavored e-liquid pods and the Vuse Solo electronic nicotine delivery system device from R.J. Reynolds Vapor Company were approved.

In July 2021, Fertin Pharma A/S was acquired by Philip Morris International Inc. (PMI) (Fertin Pharma). With Fertin’s broad technology portfolio, expanding business portfolio, and world-class experience, PMI will be able to advance its goal of increasing net revenues from smoke-free products by offering the speed and scalability of oral delivery.