The global e-cigarette market reached a value of US$ 11.5 Billion in 2018. E-cigarettes are battery-powered vapor devices that deliver dosages of vaporized nicotine or flavored solutions to the users. They consist of three main components, namely, a heating coil, a battery and a liquid cartridge. They are also known as e-cigs, e-vaping devices, vape pens, electronic cigarettes or electronic nicotine delivery systems. E-cigarettes are available in different forms and can resemble traditional cigarettes, pipes or cigars. As these devices do not burn tobacco, which produces tar and carbon monoxide, they are considered to be safer than conventional cigarettes. In recent years, they have gained popularity, especially among young adults and adolescents, due to their easy availability and aggressive promotion by manufacturers.
- The willingness of consumers to quit smoking tobacco products and their perception of e-cigarettes as a safer alternative to traditional cigarettes have led to the increased demand for these devices across the globe. In line with this, the manufacturers are introducing new-generation e-cigarettes which offer different strengths of nicotine and allow the users to refill the cartridge. Moreover, the leading manufacturers are acquiring or entering into partnerships with small and domestic vendors. For instance, Japan Tobacco International (JTI) acquired the UK-based e-cigarette brand E-Lites to develop new products and to commercialize its vaporizers worldwide. These players are also introducing an extensive range of flavors, such as tobacco, fruits and botanicals, in response to the evolving consumer preferences. Further, they are developing the designs and technology of e-cigarettes to improve their functioning. According to IMARC Group, the market value is expected to reach US$ 24.2 Billion by 2024, exhibiting a CAGR of around 13% during 2019-2024.
- Historical, Current and Future Market Trends
Market Breakup by Product:
- Modular E-Cigarette
- Rechargeable E-Cigarette
- Next-Generation E-Cigarette
- Disposable E-Cigarette
Market Breakup by Flavor:
Market Breakup by Battery Mode:
- Automatic E-Cigarette
- Manual E-Cigarette
Market Breakup by Distribution Channel:
- Specialist E-Cig Shops
- Supermarkets and Hypermarkets
Breakup by Region:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
- The report has also analysed the competitive landscape of the market with some of the key players being Philip Morris International, Altria Group Inc., British American Tobacco PLC, Japan Tobacco, Inc., Imperial Tobacco Group, International Vapor Group, Nicotek Llc, Njoy Inc., Reynolds American Inc., Vmr Flavours Llc., MCIG Inc., ITC Limited, J WELL France, etc.
Key Questions Answered in This Report:
- How has the global e-cigarette market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global e-cigarette industry?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the flavor?
- What is the breakup of the market based on the battery mode?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the global e-cigarette industry?
- What are the key driving factors and challenges in the global e-cigarette industry?
- What is the structure of the global e-cigarette industry and who are the key players?
- What is the degree of competition in the global e-cigarette industry?
- What are the profit margins in the global e-cigarette industry?