Global Alternative Tobacco and Smoking Cessation Market Size to Reach USD 64.29 Billion in 2032 | Emergen Research

Vancouver, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The global alternative tobacco and smoking cessation market size was USD 26.30 Billion in 2022 and is expected to register a steady revenue CAGR of 9.4% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of respiratory lung diseases, such as chronic bronchitis and rising investments and funding towards production of such devices are key factors driving market revenue growth.

Alternative nicotine and tobacco products, such as Electronic Cigarettes (EC), smokeless tobacco, and Nicotine Replacement Therapy (NRT), are now being evaluated as tobacco harm reduction options due to their potential role in smoking reduction and smoking cessation. The development and innovation of alternative nicotine consumption products represent an important shift from a market formerly influenced by cigarettes. In addition, increasing use of vaping devices, oral nicotine delivery, and Heat-Not-Burn (HNB) or Heated Tobacco Products (HTPs) is another key factor driving revenue growth of the market. Newer tobacco product marketing incorporates messaging implying that these smokeless tobacco products aid in the decrease or cessation of cigarette consumption or that these should be used in smoke-free environments. Although traditional cigarettes continue to be the most popular method of tobacco consumption, use of non-combustible tobacco and nicotine products have increased rapidly in the last fifteen years, and their use is expected to rise further in the coming years.

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Tobacco-based products, such as HTPs and nicotine-only products including vapor products (electronic cigarettes) and nicotine pouches, are examples of these goods. Innovative nicotine-based alternatives benefit the industry since these increase revenues through lower taxation, are not entirely covered by tobacco legislation, compensate smokers who quit smoking, and bring in new clients of tobacco and/or nicotine products. Moreover, technological improvements in alternative tobacco products is also expected to drive market revenue growth during the forecast period. Modern oral nicotine solutions, including vaping, offer users a safer alternative to combustible cigarettes. Furthermore, tobacco-free nicotine pouches are gaining popularity since these resemble chewing tobacco and snus, but do not contain tobacco.

However, rising costs of such products as well as concerns regarding their safety profile are key factors, which could restrain market revenue growth. Some alternative nicotine products have harmful effects, such as concentrations of toxicants in  liquids, used in e-cigarettes fluctuating and the quality control in e-cigarette manufacturing is speculative. A number of toxicants have been detected in e-cigarette vapors. A few health risks include toxicology of flavoring substances contained in liquids when inhaled, the formation of acetals (chemicals whose toxicological properties are unknown) and carbonyl compounds during the heating process, and presence of carcinogenic metals in the emissions. Furthermore, despite the reduction of some types of chemicals identified in emissions, early study has discovered the existence of certain carcinogenic or mutagenic elements in heated tobacco products, often in higher concentrations than in tobacco cigarette emissions.

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Scope of Research

Major Companies and Competitive Landscape

The global alternative tobacco and smoking cessation market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective alternative tobacco and smoking cessation solutions. Some major players included in the global alternative tobacco and smoking cessation market report are:

• Pfizer Inc.
• GSK plc.
• NJOY
• VMR Products, LLC
• McNeil AB
• Takeda Pharmaceutical Company Ltd.
• Novartis AG
• Johnson & Johnson
• Imperial Brands PLC.
• Perrigo Company plc.

Strategic Development

• On 27 October 2022, Altria Group, Inc. announced its strategic partnership with JT Group (JT) to enhance the heated tobacco portfolio. This portfolio includes a Joint Venture (JV) with a JT subsidiary for marketing and commercialization of Heated Tobacco Stick (HTS) products in the U.S., as well as their enlarged pipeline of wholly-owned items.

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Some Key Highlights From the Report

• The online pharmacies segment accounted for largest revenue share in the global alternative tobacco and smoking cessation market in 2022. This is because consumers are turning to e-commerce websites to purchase from a large selection of options and take advantage of advantageous offers and discounts to avoid the inconvenience of physical shopping. E-commerce is changing the way that people buy and sell alternative products, including e-cigarettes and heated tobacco products. In addition, e-commerce websites have several benefits over other types of sales channels in terms of product accessibility, affordability, transportation patterns, and many other important elements. The need for e-commerce business has increased as people have begun to purchase the majority of their prescription and over-the-counter drug needs online. Furthermore, e-pharmacies have emerged as a viable sector, offering the ease of shopping from the comfort of one's own home, which is also expected to drive revenue growth of this segment.
• The Heated Tobacco Products (HTPs) segment is expected to register steadily fast revenue growth rate in the global alternative tobacco and smoking cessation market during the forecast period. This is because HTPs are a new type of consumer product that heats tobacco and delivers aerosolized nicotine to the user's mouth for inhalation. HTP reduces the levels of dangerous tobacco components by 90%-95% when compared to cigarettes, according to research, while others emphasize on the lack of odor or visible emissions as a part of marketing campaigns. Tobacco corporations have recently advertised HTPs as an improved alternative to combustible cigarettes, with the added bonus of being more socially acceptable to others and easier to use in public areas where smoking is prohibited. Tobacco businesses sell heat-not-burn devices, such as IQOS, as a superior alternative to smoking since the tobacco is heated rather than burned.
• The North America market accounted for largest revenue share in the global alternative tobacco and smoking cessation market in 2022. This is attributed to increasing investments towards development and marketing of alternative tobacco and smoking cessation products such as smokeless tobacco. In addition, key strategic initiatives and partnerships between major market companies developing alternative tobacco and smoking cessation as well as rising regulatory approvals, especially in the U.S is also expected to drive market revenue growth during the forecast period. For instance, on 23 December 2021, United States Food and Drug Administration (FDA) approved the sale of 22nd Century Group Inc.'s VLN King and VLN Menthol King combusted, filtered cigarettes as Modified Risk Tobacco Products (MRTPs), which help smokers minimize their exposure to and consumption of nicotine. These are the first combusted cigarettes to be approved as MRTPs, and the second tobacco products in general to acquire exposure modification orders, allowing to be advertised as having a lower level of, or presenting a lower exposure to, a drug.
• On 23 June 2023, Imperial Brands, the worldwide tobacco and nicotine company, announced the acquisition of various nicotine pouches from TJP Labs to help it enter the U.S. modern oral market. The transaction will allow Imperial's U.S. subsidiary, ITG Brands, to provide a varied selection of 14 product variants in a pouch that performed well in consumer testing. Following more consumer testing, ITG Brands plans to relaunch this range under a new name in 2024, supported by the company's existing U.S. sales staff. TJP Labs, a Canadian producer, will continue to produce the oral nicotine pouches for ITG Brands under contract.

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Emergen Research has segmented the global alternative tobacco and smoking cessation market on the basis product type, end-use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)

• • Nicotine Replacement Therapy (NRT)
    1. NRT Gums
    2. NRT Lozenges
    3. NRT Inhalers
    4. NRT Patches
    5. NRT Nasal Spray
  • Smokeless Tobacco
  • Electronic Cigarettes (e-cigarettes)
  • Heated Tobacco products (HTPs)
  • Prescription Medications
  • Others

• End-use Outlook (Revenue, USD Billion; 2019-2032)

• • Hospital Pharmacies
  • Online Pharmacies
  • Retail Pharmacies

• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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