Heat-Not-Burn Market 2030: Revolutionizing Tobacco Consumption

Heat-Not-Burn Market Growth & Trends

The global heat-not-burn market size is expected to reach USD 165.11 billion by 2030, registering a CAGR of 35.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is driven by rising demand for Reduced Risk Products (RRPs) as they are considered less harmful to health. The rise in marketing campaigns coupled with growing approvals by the governing bodies such as U.S. Food and Drug Administration (FDA) and other governing bodies from Asia and Europe is anticipated to fuel the heat-not-burn (HNB) device market growth. The growing advertising campaigns, rising number of tobacco shops, and improved marketing strategies are anticipated to create growth opportunities for the market.

The growing purchasing power of consumers is expected to drive the acceptance of heat-not-burn products over the forecast period as these products are marketed as premium products. Leading manufacturers operating in Italy, Germany, U.S., South Africa, and Croatia are involved in product launches with focus on specialty and premium heat-not-burn products. However, numerous countries, such as Uruguay, and Singapore have banned the distribution and sale of heat-not-burn products, which is hindering the heat not burn devices market growth.

Gather more insights about the market drivers, restrains and growth of the Heat-Not-Burn Market

The usage of HNB device is believed as an effective technique to quit smoking, as it is less harmful, toxic, and generates vapor instead of smoke. The acceptance of the device is likely to increase, mainly among individuals willing to quit smoking or willing to smoke just for recreation purposes. Hence, the launch of innovative and new heat-not-burn devices, such as IQOS MESH, and PLOOM Tech is expected to increase the popularity of these devices, which would further propel the growth of the market.

Heat-Not-Burn Market Report Highlights

• The sticks segment dominated the market and accounted for a revenue share of 29.0% in 2023. The product positioning strategy of marketing the sticks as premium heat-not-burn offering primarily drives the growth of this segment.
• The retail store distribution segment held the largest revenue share of the global industry in 2023. Heat-not-burn devices are available for purchase in retail outlets such as convenience stores, drug stores, grocery stores, newsstands, and tobacco stores, allowing for maximum availability of these devices.
• Asia Pacific heat-not-burn market dominated the global market with a revenue share of 52.5% in 2023.
• Europe heat-not-burn market is anticipated to experience the fastest CAGR during the forecast period.

Heat-Not-Burn Market Segmentation

Grand View Research has segmented global heat-not-burn market report based on component, distribution channel, and region:

Heat-Not-Burn Component Outlook (Revenue, USD Million, 2018 – 2030)

• Capsules
• Devices
• Loose-leaf
• Sticks
• Vaporizers
• Others

Heat-Not-Burn Distribution Channel Outlook (Revenue, USD Million, 2018 – 2030)

• Online
• Retail Store

Heat-Not-Burn Regional Outlook (Revenue, USD Million, 2018 – 2030)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
• Middle East and Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa

Order a free sample PDF of the Heat-Not-Burn Market Intelligence Study, published by Grand View Research.