In recent years, the market for alternative tobacco products has been growing and is expected to continue to grow at a significant pace in the coming years. Over the past three years, alternative tobacco products such as heated tobacco and nicotine pouches have accounted for a portion of global retail sales of combustible tobacco, and the combustible cigarette market has dropped by 5% in market share.
Traditional cigarettes still dominate the tobacco product market, but the sustained interest and investment in alternatives means they are expected to continue to take market share from combustible products - as recent results have shown. The Global Nicotine Trends report recently released by the Philip Morris International (PMI)-funded Foundation for a Smoke-Free World found that the shares of e-cigarettes and heated tobacco products were 2.5% and 2.4%, respectively, in 2020. Another market assessment report analyzed by INSIGHT ACE, titled "Global Next-Generation Tobacco Product Market - by trend, industry competition analysis, company profiles, revenue, and 2030 forecast," states that the global market size for new tobacco products was $24.83 billion in 2021, and is expected to reach $67.38 billion by 2030, with a CAGR of 11.8% during the forecast period from 2022 to 2030.
The article argues that nicotine is a crucial active ingredient in tobacco products, and can help individuals quit tobacco addiction. According to the World Health Organization (WHO), over 8 million people die from smoking-related illnesses every year. In order to address this issue, tobacco product manufacturers have been releasing new products to reduce the risk of tobacco-related diseases. For example, in May 2019, Philip Morris announced the launch of IQOS, an electronic device that heats tobacco-filled sticks wrapped in paper to produce nicotine-containing aerosol as a cigarette alternative. The investment in developing promising next-generation tobacco products by key players is expected to drive market growth during the forecast period. Additionally, raising awareness of the health hazards associated with smoking can help encourage tobacco or cigarette addicts to use the next generation of tobacco products.
Statement:
This article is compiled from third-party information and is intended for industry exchange and learning purposes only.
This article does not represent the views of 2FIRSTS, and the company cannot confirm the truthfulness or accuracy of its contents. The translation of this article is only intended for industry-related communication and research.
Due to limitations in the translator's abilities, the translated article may not fully convey the intended meaning of the original text. Therefore, readers are advised to refer to the original text for accuracy.
2FIRSTS aligns completely with the Chinese government's stance on all domestic, Hong Kong, Macau, Taiwan, and foreign issues.
The copyright of the compiled information belongs to the original media and authors. If there is any infringement, please contact us for deletion.
Disclaimer
This article is provided solely for professional research, industry discussion, and informational purposes. Any references to brands, companies, products, technologies, or policies are made for factual reporting and analytical purposes only, and do not constitute endorsement, recommendation, promotion, or advertising by 2Firsts.
Nicotine-containing products, including but not limited to cigarettes, e-cigarettes, heated tobacco products, and nicotine pouches, carry significant health risks. Readers are responsible for complying with all applicable laws and regulations in their respective jurisdictions, including age restrictions and access limitations.
The information contained in this article should not be regarded as investment, legal, medical, regulatory, or commercial advice. While 2Firsts strives to ensure the accuracy and reliability of its content, it does not assume liability for any direct or indirect loss arising from errors, omissions, inaccuracies, or reliance on the information contained herein.
This article is not intended for individuals below the legal age for accessing tobacco or nicotine-related information in their jurisdiction.
Copyright Notice
This article is either original content produced by 2Firsts or content reproduced, translated, summarized, or adapted from third-party sources with attribution where applicable. The intellectual property rights of the original content remain with 2Firsts or the respective original rights holders.
No individual or organization may copy, reproduce, distribute, republish, modify, translate, or otherwise use this content without prior authorization. Any unauthorized use may result in legal action.
For copyright-related inquiries, corrections, or removal requests, please contact: info@2firsts.com.
AI-Assisted Translation and Editing Notice
Portions of this article may have been translated, edited, or reviewed with the assistance of artificial intelligence tools to improve efficiency and readability. Due to the limitations of AI-assisted translation and editing, discrepancies, omissions, or inaccuracies may exist when compared with the original source.
Where applicable, readers are advised to refer to the original source for the most complete and accurate information. If you identify any errors or believe that any content infringes upon your rights, please contact us at info@2firsts.com, and we will review and address the matter promptly.
