The rising adoption of e-cigarettes from the emerging economies is boosting the demand for e-cigarettes.
The global e-cigarettes market was valued at US$ 16,758.9 Mn in 2020 is expected to reach US$ 45,689.1 Mn by 2027, with a growing CAGR of 15.4% during the forecast period (2021-2027).
Huge demand for flavored e-cigarettes from consumers is accelerating the industry’s growth. Around 43% of the young e-cigarette consumers who tried them were primarily driven by the appealing flavors. According to a study by the U.S. FDA 97% of the current youth e-cigarette users are using flavored e-cigarettes. Fruit and mint are among the most preferred flavors among high school students. The youths are more attracted by the flavors and are thus getting addicted to the e-cigarettes. To break this chain the FDA banned the two most common flavors which are fruits and mint to discourage the use of e-cigarettes, which is anticipated to hamper the market growth during the upcoming years.
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The vape mod segment is anticipated to hold the largest market share throughout the forecast period. The popularity of vape mod among European countries and North America is supporting the market growth. In addition to this, the companies in the e-cigarettes market space are also developing new products supporting the vape mod market segment. Further, the e-liquid component segment registered the highest CAGR in the e-cigarettes market. The e-liquid market has been driven by the introduction of new flavors by the market players coupled with the growing consumer adoption of flavored e-cigarettes.
The tobacco industry players are more confident about the e-cigarette technology and are funding the research related to the effects of e-cigarettes on human health. British American Tobacco recently funded a study that uses 3D modeling to differentiate the inflammation in lungs from regular cigarettes and e-cigarettes. The study showed a dramatic drop in the lung inflammation by the use of e-cigarettes. Research and investments like these are accelerating the market demand.
In terms of geography, the Asia Pacific is growing at a significant rate and China is the largest contributor to the rising revenue generation in the region. China is the largest manufacturer of e-cigarettes among the Asia Pacific countries. In the Asia Pacific region, the increasing use of e-cigarettes as a substitute for conventional smoking and the recreational use of e-cigarettes is proliferating the market growth. The offline distribution channel accounted for the largest market share in the region whereas the online distribution channel registered the highest growth rate during the forecast period. Moreover, the region has the presence of the world’s most populous countries i.e. India and China, and also the presence of a large young population, which is anticipated to drive the market growth in the Asia Pacific region. However, the government regulations from various countries across the region are anticipated to hamper the market demand. For instance, e-cigarettes have been banned in India to prevent e-cigarettes from becoming an epidemic in the country.
Imperial Brands, Vaping360, Veppo Vape Shop, British American Tobacco plc, JT International AG, NJOY, PHILIP MORRIS PRODUCTS S.A., Healthier Choices Management Corp., and Jwell France, among others, are major players in Global E-cigarettes Market
Key Findings:
- Based on the component, the vape mod held the largest market share in 2020 followed by e-liquids
- Based on the product type, the disposable e-cigarettes segment is the fastest growing segment and is set to grow by 40%-50% by 2027
- Based on regions, North America accounted for a 41.2% market share in the year 2020
Recent News:
- In January 2020, NJOY halted the sales of its fruit flavored e-cigarettes in the U.S., but will continue to sell disposable e-cigarettes in watermelon, cherry crush, and pineapple lemonade flavors
- In June 2018, JTI introduced Logic Pro in Switzerland which is an e-cigarette that contains nicotine. The Logic Pro e-cigarette comes in five flavors including vanilla, menthol, regular, cherry, and berry. The e-liquid for the product is made in Europe with international quality standards.
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Recent launched study titled, “Global E-Cigarette Market Size 2017 by Type (Modular, Disposable, Rechargeable), by Region (North America, South America, Europe, Asia Pacific and Middle East & Africa) and Forecast 2018 to 2025” includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework and trade statistics of e-Cigarette industry.
The value chain has been analyzed in detail covering key stages.The global e-cigarette market size is expected to reach up to USD 48.9 billion by 2025.
The growth of the market is expected to be majorly driven by the increasing demand for less harmful alternative to the conventional cigarettes among working professionals and the youth.
The high consumption of electronic cigarette among teens and young adults is expected to be the primary driver of the market during the forecast period.Request for sample copy of the report at: https://www.adroitmarketresearch.com/contacts/request-sample/699E-cigarettes are devices powered by batteries which allow the user to inhale and exhale a liquid that is heated into an aerosol.
The market for e-cigarettes has developed at a rapid pace with the presence of a dynamic and diverse industry, providing a vast range of device through newly established production and distribution networks.The global e-cigarette market trends accelerating its growth includes cheaper and safer availability of alternative to smoking.
The most notable among the e-cigarette market trends is the sector being primarily driven by young entrepreneurs, who have been able to anticipate and respond to the evolving needs of the customers.
The Business Research Company’s E-Cigarettes Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.The Business Research Company published its E-Cigarettes Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global e-cigarettes market.
The report covers the e-cigarettes market’s segments- disposable, rechargable, modular, tobacco, flavors, nicotine-free, specialist e-cig shops, online, supermarkets, tobacconist, and others.Read Full Report @ https://www.thebusinessresearchcompany.com/report/e-cigarettes-global-market-reportE-Cigarettes Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It also compares the market’s historic and forecast growth.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Place A Sample Request of This Report At: https://www.thebusinessresearchcompany.com/sample.aspx?id=2665=smpIncreasing number of mergers and acquisitions between traditional cigarette and e-cigarette manufacturers is trending in the e-cigarettes market.
