05-08-2019 06:05 PM CET - Advertising, Media Consulting, Marketing Research
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Global E-Cigarette Market : Increasing Availability Across Various Distribution Channels to Drive Growth For Major Players: JUUL Labs, British American Tobacco, Altria, NJOY, Philip Morris International, Imperial Brands PLC & Fin Branding Group, LLC

Press release from: P&S Intelligence

The e-cigarette market is estimated to reach $44,610.6 million by 2023. The growth in the market will be led by factors such as increasing health concerns among the smokers, demand for smokeless and ashless vaping, and surge in the number of vape shops and designated stores.

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E-cigarettes are being adopted by consumers as an alternative to tobacco cigarettes, as they are considered to be less toxic and safer than conventional cigarettes. Consumers are focusing on replacing conventional cigarettes with healthier and less chemical vaping technology, which will pose ample of growth opportunities for market players in the coming years.

Innovations and advancements in technology are expected to pave the way for next-generation products. Traditional tobacco manufacturers across the globe are moving into design, development, production, and sale of vaping products because of the increased interest of people in these products and the growing demand for tobacco cigarette alternatives.

Based on product, the e-cigarette market has been broadly categorized into cig-a-like, vaporizer, and vape mod. The market for vape mod is expected to witness the fastest CAGR, of around 22%, during the forecast period. Customizable vape mods are becoming a popular choice among ex-smokers, current smokers, and new smokers.

APAC is the region offering ample growth opportunities for the vendors. Large population coupled with increasing urbanization has been propelling the demand for e-cigarettes in the region. China was the forerunner in the regional e-cigarette industry, with around 40% share in 2017.

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The e-cigarette market has potential growth opportunities in untapped emerging economies of APAC, Latin America and Africa regions. Tobacco companies and e-cigarette manufacturers in these regions are expanding their business to achieve greater reach for their products through various channels, including e-commerce, retail partners, and grocery stores.

Some of the key players operating in the e-cigarette market are JUUL Labs, Inc., British American Tobacco plc, Altria Group Inc., Japan Tobacco Inc., Imperial Brands plc, Philip Morris International Inc., VMR Products LLC, NJOY Inc, International Vapor Group, Vapor Hub International, Inc., and FIN Branding Group LLC.

Global E-Cigarette Market Segmentation

By Product

• Cig-a-like
o Disposable
o Rechargeable
• Vaporizer
o Open Tank
o Closed System
• Vape Mod

E-Cigarette Market Segmentation by Distribution Channel

• Vape shops
• Supermarkets
• Online
• Tobacconists

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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P&S Intelligence
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Email: enquiry@psmarketresearch.com
Web: www.psmarketresearch.com

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