(Entertainment-NewsWire.com, October 03, 2018 ) The emergence of heated tobacco as a viable alternative mode of consumption has been a single greatest driver in diluting (even partially) and potentially eventually dislodging the combustible cigarette’s central position in the balance of tobacco and nicotine consumption.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL TOBACCO PRODUCTS MARKET AT $562 BILLION IN 2017
Asia Pacific was the largest region in the tobacco products market in 2017, accounting for approximately half of the market share. This was mainly due to the presence of a large population seeking tobacco products.
According to The Business Research Company’s Consultant, Nitin Gianchandani, cigarette manufacturers are offering innovative cigarettes such as smokeless cigarettes as an alternative to conventional cigarettes. Smokeless cigarettes do not burn the tobacco; instead heat the tobacco just enough to create a smokeless vapor that imparts the flavor of tobacco. Smokeless cigarettes are less harmful and can also help people to quit smoking altogether. For example, in 2016, Philip Morris International, the world’s largest cigarette and tobacco company, launched iQOS smokeless cigarettes, which produce 90-95% less harmful chemicals than traditional cigarettes. British American Tobacco (BAT) has invested $1 billion in last 5 years for the development of smoke-free cigarettes.
Philip Morris International Inc. was the biggest player in the tobacco products manufacturing market, with revenues of $75 billion in 2016. Philip Morris International Inc. doubled its investment in its heated tobacco unit. They are rapidly expanding their capacity to manufacture smoke-free products in order to meet growing demand from adult smokers
The tobacco industry comprises establishments carrying out stemming and redrying of tobacco and companies manufacturing cigarettes and other tobacco products. E-cigarettes are not included in this industry. Tobacco Products Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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