E-Cigarette Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI4115
E-Cigarette Market size is expected to grow rapidly from 2019 to 2025 due to increased concern about health issues on account of consumption of traditional cigarette smoking. Growing awareness of the harmful effects of smoking, such as poor oral hygiene, mouth cancer, vision problems, lungs damage, weak immune system, heart disease, pregnancy complications, type 2 diabetes, and fertility problems, has reduced the usage of traditional cigarettes, thereby propelling the electronic cigarette market. An e-cigarette reduces the risk of cancer to some extent and prevents the intake of more than 4,000 chemicals present in tobacco smoke. These electronic solutions do not burn tobacco as traditional cigarettes and consist of nicotine-filled cartridges with a wide variety of chemical concentrations from 0 mg/mL to around 25 mg/mL.
With a rise in the demand for electronic solutions, manufacturers in the e-cigarette market are increasingly focusing on the development of new technology, such as vapor cigarettes, to have an edge over their competitors. This is encouraging the manufacturers to invest highly in R&D to offer innovative solutions with efficient battery backup, new flavors, and compact design to remain competitive in the market. Additionally, companies are using various strategies to promote the adoption of their business offerings. For instance, in April 2019, Philip Morris International Inc. announced the offering of insurance premiums to tobacco users who are planning to switch to vaping products from traditional tobacco products. Its Reviti insurance plan will also offer around 50% discounts to customers who will opt for iQOS e-cigarette offering provided by the company.
The major restraining factor in the e-cigarette market is the availability of low-quality products that leads to the malfunctioning of atomizer and batteries. The usage of low-quality and less pure ingredient in flavors can lead to throat irritation and other health issues, thereby restricting the market growth. Moreover, the liquid contained in cigarettes is harmful to infants and can have adverse effects on health. Lack of safety information provided by the manufacturer for the use & maintenance of the device restricts consumers from using e-cigarettes as an alternative to traditional cigarettes. Increased government regulations to ban the consumption of e-cigarettes in different countries will also restrict the market growth. For instance, in June 2019, the San Francisco government announced its plans to ban the sale and distribution of electronic cigarettes in the city.
Increasing health concern regarding the consumption of tobacco-based products is encouraging users to shift to vaporized solutions, thereby augmenting the e-cigarette market growth. The battery-operated technology emits doses of vaporized nicotine that provide a similar sensation of inhaling tobacco cigarettes. Most of the electronic cigarettes are reusable, replaceable, and rechargeable while some are disposable. Out of these, refillable cartridges products will contribute majorly to the growth of the market. These refilling features are attracting customers to use different flavors, such as menthol, tobacco, cheery, and kiwi, thereby propelling the market growth.
The Europe e-cigarette market is predicted to witness growth owing to the rise in usage of vaping products among consumers. Countries including the UK, Germany, France, and Russia are the major economies experience high usage of these products. Moreover, the region consists of major electronic cigarette market players who are engaged in developing innovative solutions. Companies, such as British American Tobacco PLC (BAT) and Imperial Brands PLC, are making various investments in R&D to promote the shift to electronic-based smoking products from traditional cigarettes. For instance, in December 2018, BAT announced the launch of a vaping device, Vype iSwitch, to attract traditional smokers to start vaping. Moreover, the UK government is launching new campaigns to promote & convince the smokers that vaping is around 95% less harmful compared to tobacco products, thereby augmenting the market growth.
The key players operating in the e-cigarette market are Altria Group, Inc., KangerTech, British American Tobacco, NicQuid, Philip Morris International Inc., Shenzhen IVPS Technology Co., Ltd., Imperial Brands, R.J. Reynolds Vapor Company, International Vapor Group, Japan Tobacco International, Healthier Choices Management Corp, ITC Limited, and mCig, Inc. The manufacturers in the market are engaged in mergers & acquisitions to expand their business offerings and global reach. For instance, in September 2018, Turning Points Brands, Inc. announced the acquisition of International Vapor Group, LLC that offers vapor products in the market. This acquisition will allow the company to add the top vapor B2C platform in its product brand family. Moreover, the companies are also competing in the market by expanding their business operations to different locations. In May 2019, Juul Labs announced the launch of its solutions in the Irish market. The company has plans to convert the estimated 830,000 adult tobacco smokers to use vape products.
E-Cigarette Market, By Composition Used
E-Cigarette Market, By Battery Mode
- Automatic E-cigarette
- Manual E-cigarette
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
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