Global E-Cigarette Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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“Global E-Cigarette Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global e-cigarette market report has been segmented on the basis of product type, flavor, distribution channel, and region.
Global E-Cigarette Market: Introduction
E-cigarette is battery powered device that work by heating a liquid into an aerosol and provides similar experience of tobacco smoking without inhalation of smoke. Electronic cigarette (e-cigarette) is filled with solution containing either nicotine or nicotine free liquid, which is heated and converted into vapor, and inhaled, which is considered as less harmful than conventional cigarettes.
Global E-Cigarette Market: Dynamics
Some factors such as zero smoke, reduces health-related problems, and less environmental harmful nature are driving the target market towards growth. Increasing prices of traditional cigarettes and product innovation in e-cigarettes are some of the factors propelling growth of the global e-cigarette market. In addition, increasing awareness about harmful effects of conventional cigarettes and rise in technological developments by electronic cigarette manufacturers fueling growth of the e-cigarettes market. In addition, some factors such as easy availability, especially online websites and e-commerce sites, which provide e-cigarette market players an opportunity to expand their business at both local and global level. Moreover, different flavors such as menthol, mint, chocolate, bubble gum, and fusions of other fruits and flavoring substances are attracting a large number of consumers to adopt them.
However, cigarettes are injurious to health, which may result in low adoption of e-cigarettes and hamper market growth to a certain extent. Some researches show that electronic cigarette aerosol often contains substances that can be harmful, including flavoring chemicals (like diacetyl, which is linked to lung disease), metals (like lead), and other cancer-causing chemicals.
According to the Center for Disease Control and Prevention, cigarette smoking kills more than 480,000 Americans each year, with more than 41,000 of these deaths from exposure to passive smoking. In 2016, an estimated 15.5% (37.8 million) of US adults were current cigarette smokers, of these, 76.1% smoked every day.
Global E-Cigarette Market: Segment Analysis
Among the distribution channel segments, the online segment is projected to register highest CAGR in the global market in the next 10 years. This can be attributed to increasing inclination and preference to purchase products online after checking reviews and comparing products for cost and quality. Moreover, purchasing online has its own benefits such as internet banking payment option, cash n delivery option, and easy returns and refund process.
Global E-Cigarette Market: Region Analysis
Geographically, North America market is expected to account for highest revenue share in the global e-cigarette market, owing to high awareness of electronic cigarettes and health hazards due to tobacco smoking. The popularity of tobacco products in the US and Canada is increasing rapidly due to the easy availability of products in shops and over the Internet. Furthermore, rapid urbanization, availability of tobacco products, advancements in products technology, and increase in the number of smokers in the region are some of the factors expected drive the regional e-cigarette market. China holding a major share of the production and manufacturing are meant for export to the US and European market.
Global E-Cigarette Market Segmentation:
Segmentation by Product type:
Segmentation by Flavor
- Others (menthol, mint, chocolate, bubble gum, and fusions)
Segmentation by of Distribution channel:
- Specialist E-cig Shops
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Philip Morris International Inc.
- MCIG, Inc.
- Altria Group, Inc.
- Japan Tobacco, Inc.
- Imperial Tobacco Group
- British American Tobacco
- Reynolds American Inc.
- Vmr Flavours Llc.
- FIN Branding Group LLC
- NJOY Inc.
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