E-cigarettes Market to grow from market value of USD 10.104 billion in 2017 to USD 30.095 billion by 2023| Dominant Players - PHILIP MORRIS INTERNATIONAL INC., MCIG, INC., ITC LIMITED, ALTRIA GROUP, INC., REYNOLDS AMERICAN INC., JAPAN TOBACCO, INC., CLOUD

Market Analysis:

North America Dominating the Market
The e-cigarette market in North America has the majority share due to the advent of industry giants from the tobacco, pharmaceutical, and other major influential sectors in the country. Established tobacco players are strengthening their market position with various acquisitions and are launching new brands.

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The e-cigarette market has witnessed a significant growth over the past decade, owing to the growing health concerns over the usage of conventional tobacco-based cigarettes. Increasing adoption of e-cigarettes has created a market for disposable, reusable, and customizable e-cigarettes. The market is evolving at a fast pace and is expected to see innovation in vapor delivery and other systems in the years to come. Tobacco contains at least 69 cancer-causing chemicals. This has caused serious concerns among various governments and organizations conducting awareness programs to halt the usage of tobacco. E-cigarettes are considered to be less toxic and safer than a conventional tobacco cigarette, which has made e-cigarette a viable alternative. Automatic E-cigarettes are dominating the market landscape

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Market Segments:
E-cigarettes Market is segmented by:
1. Product: Completely Disposable Models, Rechargeable But Disposable Cartomizers, Personalized Vaporizer
2. Battery Mode: Automatic E-cigarette, Manual E-cigarette
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• July 2017 - British American Tobacco acquired remaining 57.8% of Reynold American Inc
• July 2017 - Phillip Moris International planned to invest approximately EUR 490 million to transform its cigarette production factory in Otopeni, near Bucharest, Romania, into a high-tech facility to manufacture HEETS, the tobacco units used with the electronic tobacco heating device, IQOS.

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