InsightAce Analytic Pvt. Ltd. announces the release of market assessment report on “Global Herbal HeatSticks Market– By Trends, Industry Competition Analysis, Revenue and Forecast Till 2030”
According to the latest research by InsightAce Analytic, the global herbal heatsticks market is expected to show a CAGR of 6.7% during the forecast period of 2022-2030.
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According to the World Health Organization (WHO) report, more than 8 million people die yearly from tobacco use. To lower the risk of tobacco-related illnesses, makers of tobacco products have introduced healthier and safer alternatives to smoking. Herbal heatstick are free from tobacco and contain zero tar, and their nicotine is derived from organic plants and fibre instead of tobacco leaf. This is an option for adult smokers who intend to stop tobacco but still want to experience the authentic tobacco taste and nicotine hit, as well as the comfort of smoking without the smoke or ash of cigarettes. It is formed of a blend of several herbs and other plant elements.
Major driving factors of the herbal heatsticks market are the rising prevalence of tobacco-related diseases, growing population, and increasing consumption rate of tobacco products among youth. Moreover, rising R&D investments towards developing tobacco-free products, and the availability of policies that prohibit smoking at indoor public places and workspaces is further likely to accelerate the market growth. Furthermore, market players are investing their efforts in developing herbal cigarettes, which is estimated to boost market growth during the forecast years. Also, spreading awareness regarding tobacco smoking-related health hazards will help drive cigarette or tobacco addicts to use herbal heatsticks. However, specific side effects of herbal heatsticks may restrain the market expansion.
Asia-Pacific is expected to be the prior revenue holder of the herbal heatsticks market in the next few years. Factors such as the growing R&D activities to develop safer and harmless smoking alternatives, increasing awareness about herbal heatsticks, and the rising number of smoking quitters are driving the market growth of this region. On the other hand, North America is projected to grow faster during the projected period due to the high prevalence of tobacco-related diseases and surging demand for tobacco-free products.
Major players operating in the herbal heatsticks market are Genmist, tqs flavour, CCOBATO (SHENZHEN) TECHNOLOGY CO., LTD, CIGOO Technology Co., Ltd., Darlings, Unicco, NEAFS Stick, TOFRE, JLV, and other prominent players.
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Key Developments in the market:
- In December 2021, Genmist announced a butter tobacco flavour heatstick. The new arrival features a classic solid tobacco taste blended with smooth, light, creamy butter flavour. It has a mouthwatering strong butter aroma and aftertaste.
Global Herbal HeatSticks Market, by Product Type, 2022-2030 (Value US$ Mn)
- With Nicotine
Global Herbal HeatSticks Market, by Flavor, 2022-2030 (Value US$ Mn)
Global Herbal HeatSticks Market, by Distribution Channels, 2022-2030 (Value US$ Mn)
- Forecourt retailers
- Tobacco specialist
- Convenience stores
- Online retailers
- Hypermarkets and supermarkets
Global Herbal HeatSticks Market, by Region, 2022-2030 (Value US$ Mn)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
North America Herbal HeatSticks Market revenue (US$ Million) by Country, 2022 to 2030
Europe Herbal HeatSticks Market revenue (US$ Million) by Country, 2022 to 2030
- Rest of Europe
Asia Pacific Herbal HeatSticks Market revenue (US$ Million) by Country, 2022 to 2030
- South Korea
- Australia & New Zealand
Latin America Herbal HeatSticks Market revenue (US$ Million) by Country, 2022 to 2030
- Rest of Latin America
Middle East & Africa Herbal HeatSticks Market revenue (US$ Million) by Country, 2022 to 2030
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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