Hon Lik sought to create a safer alternative for nicotine consumption
Key Findings Market forecast to grow at +1.5% volume CAGR to 11,005B units by 2035, with value reaching $201.2B at a +2.1% CAGR 2024 consumption declined to 9,309B units, led by the US, China, and Brazil which together account for 45% of global volume Global imports and exports contracted sharply in 2024, falling by -23.9% and -15.1% respectively Poland is the world's leading exporter by value ($5.1B), while Germany is the top importer ($3.5B) Significant price gaps exist in trade, with German import prices at $56 per thousand units versus $2 for Belize Market Forecast Driven by increasing demand for cigarettes containing tobacco worldwide, the market is expected to continue an upward consumption trend over the next decade
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