E-cigarettes Market Detailed Analysis & Focusing on Key Leaders are Japan Tobacco Inc., Reynolds American, Philip Morris International, Altria Group Inc. VMR products, and British American Tobacco.

E-cigarettes majorly include nicotine, propylene, glycol, glycerin, and flavorings in liquid form that gets vaporized. They are made up of a cartridge, a battery, e-liquid and an atomizer that heats up ingredients in cartridge that creates a vapor inhaled by the consumer. They are tobacco free and do not produce any combustion, smoke, and odor. E-cigarettes function similar to normal cigarettes with visible vapor and an LED light produced when the user draws on an e-cigarette, E-cigarettes tend to offer a sensation (nicotine hit) similar to conventional tobacco cigarettes.

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Increasing health awareness regarding the use of cigarettes, adoption of eco-friendly products, and the tax hike of regular cigarettes are the factors contributing to growth of the e-cigarettes market. In July 2013, the World Health Organization (WHO) issued a statement regarding the potential risks of using e-cigarettes, which include throat irritation and coughing. This is expected to hamper the growth of the global e-cigarettes market.

Global E-cigarette Market Outlook:

North America region is leading global e-cigarettes market. Increasing educational campaigns coupled with ban on smoking in public places in the U.S. has resulted in an approximate 31% drop in the sale of conventional cigarettes since 2005. This has created a large scale opportunity for e-cigarettes manufacturers in the U.S. thereby resulting in the growth of the market in North America.

Europe is projected to be the fastest growing market for e-cigarettes, owing to the high prices and regulations that are imposed on cigarettes in the developed economies of the European region. For instance according to the Action on Smoking and Health (ASH), number of smokers using e-cigarettes regularly have increased from 2.7% in 2010 to 17.7% in 2014 in the U.K. and it is expected to witness a substantial increase during the forecast period on account of the health complications due to the combustion of tobacco in cigarettes.

Manufacturers are adopting strategies such as mergers and acquisitions in order to increase their share in the global e-cigarettes market. For instance Philip Morris International (PMI) merged with Altria in 2013 in order to market e-cigarettes. This resulted in PMI gaining the right to sell Altria's e-cigarettes outside the U.S.

Key players in Global E-cigarettesMarket -

Some of the key players operating in the global e-cigarette market include Japan Tobacco Inc., Reynolds American, Philip Morris International, Altria Group Inc. VMR products, and British American Tobacco.

Global E-Cigarettes Market Taxonomy:

Global E-cigarettes market is segmented into:

By Product Type:

Modular
Rechargeable
Disposable

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