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The HNB devices Market is anticipated to increase at a CAGR of 16.48% from 2022 to 2028, from USD 8994.4 million to USD 22468.85 million. Electronic devices called heat-not-burn (HNB) devices heat tobacco leaves to a temperature below combustion, creating an aerosol that the user inhales. Due to the fact that they create less dangerous chemicals than conventional cigarettes, HNB devices are touted as a safer choice.
The heat-not-burn (HNB) devices market is a recent one, but it is expanding quickly. HNB devices employ a lower heat than conventional cigarettes, creating a less toxic aerosol that is inhaled by the user. Smokers searching for a less dangerous option to regular cigarettes are using HNB devices more and more frequently. Several major companies, including Philip Morris International, British American Tobacco, and Japan Tobacco, control the majority of the HNB device market. In terms of distribution, brand awareness, and R&D, these businesses are at a distinct advantage. Nevertheless, a number of smaller competitors are also breaking into the market, and it is anticipated that competition will worsen in the upcoming years.
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The Key companies profiled in the Heat-not-burn (HNB) Devices Market:
The study examines the Heat-not-burn (HNB) Devices Market’s competitive landscape and includes data on Heat-not-burn (HNB) Devices Market & Others.
Global Heat-not-burn (HNB) Devices Market Split by Product Type and Applications
This report segments the Heat-not-burn (HNB) Devices Market on the basis of Types:
Philip Morris International, British American Tobacco, Japan Tobacco, Imperial Brands, KT&G Corporation, China Tobacco Hubei Industrial Company, Vapor Tobacco Manufacturing, Altria Group, Jouz, Shenzhen Coeus Technology, Shenzhen Yukan Technology, Shenzhen Megmeet (Sempo), Shenzhen AVBAD Technology, Shenzhen Royal Tobacco Industrial
On the basis of Application, the Heat-not-burn (HNB) Devices Market is segmented into:
Tobacco Stick
Loose-leaf Tobacco
The HNB devices market has seen a lot of changes recently. Tobacco businesses, for instance, have introduced new HNB devices with enhanced features including longer battery life and quicker heating times. A increasing number of people are also interested in using HNB devices to consume cannabis. The British American Tobacco Glo and the Philip Morris International IQOS ILUMA are two recent examples of innovative HNB devices that have been released. Faster heating times and enhanced taste are only two of the perks that these new devices provide over traditional HNB devices.
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The greatest HNB devices market is in the Asia Pacific region, which will have more than half of the worldwide market share in 2022. In the Asia Pacific, Japan is the largest market, followed by South Korea and China. After the European market, the North American market is the second-largest market for HNB devices.
Cumulative Impact of COVID-19 on Market:
A few countries’ economies and territories have suffered as a result of the COVID-19 episode’s lockdowns, travel economic sanctions, and friend dismissals. Due to the pandemic, the global market is one of the primary organizations experiencing significant disruptions such as production network disruptions, innovation event abrogations, and work climate terminations. With its presence and substantial unprocessed material suppliers, China is a global contemporary major economic power.
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