E-Cigarette and Vaporizer Market Overview
Globally, the consumption of tobacco has become a critical issue despite of several government initiatives to increase the awareness about the health issues caused by consuming tobacco. Consumers addicted to tobacco find it difficult to get rid of the addiction and would require an alternate to tobacco. This has turned out to be one of the major drivers for the growth of the E-Cigarettes and Vaporizer Market globally. E-Cigarettes & Vaporizer Market is majorly driven by the factors such as the presence of established brands, cost-effectiveness, perceived health benefits, and product customizations.
E cigarettes have been growing in popularity and demand in recent times due to extensive word of mouth popularity and promotion through popular culture. Increase in number of cancer cases due to cigarette consumption has prompted migration of demand to this sector. Rise in number of individuals wanting to quit smoking has also considerably increased the demand for this industry.
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Global Key Players
Companies are in the process of capturing & solidifying their share of the market segment, by competing and experimenting with various advantage points. The entry of new industry players in the segment has initiated a trend of volume-driven growth that has been observed to intensify with the addition of new and advanced products.
Few of the major players in global e-cigarettes & vaporizer market include
- Dash Vapes
- Hubbly Bubbly
- Uff Ecig
- Simple Vape Co.
- Nice Vapor and Pacific Smoke International
The Global e-Cigarette & Vaporizer Market is segmented in to 2 dynamics for the convenience of the report and enhanced understanding.
Segmentation By Product Type: Comprises Disposable E-Cigarette, Rechargeable E-Cigarette, EGO and Tanks, Personal Vaporizers and Mods and Others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Jan 2018 KT&G has officially released its first heat-not-burn tobacco product, also called e-cigarette, Lil, after months of planning. The local cigarette maker is expected to be engaged in heated competition with Philip Morris International (PMI) and British American Tobacco (BAT), which have already introduced their own HNB e-cigarettes; IQOS and glow, respectively, earlier this year.
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Currently, North America is the largest consumer of E-Cigarettes & Vaporizer in the world market. It is closely followed by Europe. Although, China began as the first market for E-Cigarettes & Vaporizer, the U.S. and developed markets from Europe became the prime consumers of E-Cigarettes & Vaporizer, due to which these two regions collectively account for over 80% of the world market. APAC will be growing at the fastest CAGR, accounting for more than 20% of the global e-cigarette market value by 2021. Significant revenue flow will be observed from China and India over the forecast period.
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