Global E-Cigarettes Market Insights, Growth Opportunities & Forecasts
E-Cigarettes Market Insights
The global E-cigarettes market is estimated to grow at a substantial rate during the forecast period. Electronic cigarettes or e-cigarettes consist of a battery, inhaler and an atomizer which provide the experience of smoking a cigarette, without inhaling smoke. The device contains a nicotine or nicotine-free solution that is converted into vapor when heated. E-cigarettes create zero pollution, zero smoke and help in the prevention of health issues.
The market for e-cigarettes is driven by rising health concerns with respect to traditional cigarettes such as the harmful effects of carbon monoxide inhalation. E-cigarettes reduce health-related problems and provide the individual with the experience of a traditional cigarette without causing pollution and damage to his/her health. Moreover, the rise in disposable income of individuals in developed as well as emerging economies is expected to boost demand for e-cigarettes globally. Some factors restraining market growth are negative consumer perception and stringent Government regulations in some countries against the sale of e-cigarettes.
E-Cigarettes Market: Product Type Insights
Based on product type, the e-cigarette market can be segmented into disposable, rechargeable and modular cigarettes. Disposable e-cigarettes can be used until the existing cartridge of e-liquid lasts. Rechargeable cigarettes can be refilled using a separate cartridge, which allows the user to re-use the same device. Modular e-cigarettes allow the user to recharge the device and additionally allow them to control the power delivered from the battery to the atomizer. The modular e-cigarettes segment is expected to hold the highest market share in the coming years, followed by the rechargeable and disposable e-cigarettes segment.
E-Cigarettes Market: Flavor Insights
Based on flavor, the e-cigarettes market is classified into Tobacco, Botanical, Fruit, Sweet, and Beverage. The tobacco flavored e-cigarettes are expected to dominate the market in terms of revenue. This can be attributed to the high volume of traditional cigarette smokers which use e-cigarettes, looking for a similar experience. The botanical flavor segment is likely to be the second most preferred flavor in the global e-cigarettes market during the forecast period.
E-Cigarettes Market: Distribution Channel Insights
The E-cigarettes market based on distribution channels can be classified into Specialist E-Cigarette Shops, Online, Supermarkets, and Tobacconist. The specialist e-cigarette shops segment is estimated to have the largest market share in terms of revenue. E-cigarette users may make their initial purchases from specialized shops to ensure good quality products. Further, purchases made online are expected to hold the second highest market share. Growing popularity and convenience provided by online stores in making purchases of e-cigarettes and their refill cartridges are expected to boost the market growth in the segment. These factors are likely to lead to this segment growing at the highest CAGR during the forecast period.
E-Cigarettes Market: Regional Insights
North America is expected to lead the e-cigarettes market in terms of revenue during the forecast period. This growth can be attributed to rising health awareness about smoking traditional cigarettes, and high disposable income of the population. Europe is likely to hold the second highest market share due to the high popularity of cigarettes in the region. Countries like France, UK, Germany, and Italy are expected to contribute to the high growth of the e-cigarettes market in the region. Asia Pacific region is also expected to grow at a steady rate owing to rising disposable income of population and awareness about health hazards of tobacco cigarettes.
E-Cigarettes Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
E-Cigarettes Market Share & Competitor Analysis
The major players operating in the E-Cigarettes market are Altria Group, British American Tobacco, Imperial Brands, Japan Tobacco, NJOY, International Vapor Group, Juul Labs, Philip Morris International Inc., Reynolds American Inc., and Vmr Flavors Inc among others.
In November 2016, Philip Morris International, which is the producer of Malboro cigarettes, launched a non-burning e-cigarette to promote their use against tobacco cigarettes.
In July 2018, U.S. based E-cigarette start-up Juul Labs announced its plans to expand their production to Europe, by opening its office in London.
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The global E-Cigarettes Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the E-Cigarettes Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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