The global heat-not-burn tobacco market is expected to grow to $33.6 billion from $14.6 billion by 2025, according to a Research and Markets report.
The compound annual growth rate (CAGR) is expected to be 14.87 percent.
“The report deeply explores the recent significant developments by the leading vendors and innovation profiles in the global heat-not-burn tobacco products market, including British American Tobacco PLC, Japan Tobacco Inc., Pax Labs, Philip Morris International and Vapor Tobacco Manufacturing LLC,” according to the Research and Markets website.
The report also takes into consideration the effects of Covid-19.