Global E-Cigarette Market anticipates reaching USD 23.1 BN By 2025
Posted On January 03, 2019
The Global E-Cigarette Market was valued USD 13.5 BN (by revenue) in 2018 and is anticipated to reach USD 23.1 BN by 2025 as per the market report published by Value Market Research. The market is expected to grow with a high CAGR of 8% between 2018 and 2025. The report evaluates the market across various parameters highlighting the future growth path. The report foresees the market forecast for the next six years. The report segments the market on the basis of product, distribution channels, aftermarket, and region. The product is categorized into cig-a-like, vaporizer and vape mod. Vap modular is gaining momentum in the market owing to the development in vaping technology and availability of wide range of flavor is likely to create a huge demand for the product. Based on distribution channel the market has been bifurcated into vape shops, supermarket, online, and tobacconist. Vape shops are dominating the segment owing to the rising number of vape shops and stores worldwide. Aftermarket consists of refill and battery & charger. Refill is gaining traction in the market owing to the advantage offered like it can be used by refilling and consumes less electricity.
As per this study the e-cigarette market is gaining significant growth over the past decade, owing to the rising health concerns over the usage of conventional tobacco-based cigarettes. Also, growing adoption of e-cigarettes has probably created a market for reusable, disposable, and customizable e-cigarettes. The market is also expected to evolve at a fast pace owing to the rise in technological developments by manufacturers coupled with the increasing number of vape shops and designated stores. Further, the growing popularity of vaping devices and flavors such as menthol, mint, chocolate, cola, bubble gum, and fusions of other fruits are also presumed to fuel the market growth.
This report titled "Global E-Cigarette Market Report By Product (Cig-A-Like, Vaporizer And Vape Mod), By Distribution Channel (Vape Shops, Supermarket, Online And Tobacconist), By Aftermarket (Refill And Battery & Charger) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2018-2025" also identifies the recent developments, market shares, and strategies employed by the major key players.
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An electronic cigarette is a device that consists of a battery, an atomizer, and an inhaler, which offer a similar experience of tobacco smoking without inhalation of smoke. This e-electronic device is filled with a solution that contains nicotine or nicotine free liquid, which when heated gets converted into vapor, and is inhaled, and is less harmful as compared to other conventional cigarettes. Currently, this device can be considered as an alternative to conventional cigarettes, since it offers benefits such as zero smoke, reduces health-related problems, and can be smoked at public places.
Regional analysis covers North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report identifies North America as the ruling the global e-cigarette market owing to high awareness of electronic cigarettes and the health benefits associated with it. Consumer perception of electronic cigarette as tobacco smoking cession product drives the market growth in the region.
The Report Segments Global E-Cigarette Market -
- Open tank
- Closed System
- Vape Mod
By Distribution Channel
- Vape Shops
- North America
- Latin America
- Middle East and Africa
Players Profiled In The Report:
Altria Group Inc., British American Tobacco plc, FIN Branding Group LLC., Imperial Brands plc., International Vapor Group, Japan Tobacco Inc., NJOY Inc., Philip Morris International Inc., Vapor Hub International Inc., and VMR Products LLC.
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