Global E-Cigarette Market to Advance due to Growing Health Concerns Having Major Key Players: Philip Morris International Inc., British American Tobacco p.l.c., Altria Group Inc., Japan Tobacco Inc., Imperial Brands PLC, JUUL Labs Inc., NJOY LLC, Turning

Witnessing a 21.6% CAGR during the forecast period (2019–2024), the global e-cigarette market is predicted to reach $41.7 billion by 2024, registering a significant increase in its revenue from $11.5 billion in 2018.

The market is headed toward prosperity due to the increasing awareness about health, social acceptability and environment-friendliness of e-cigarettes, rising number of vape stores, and the possibility of ashless and smokeless smoking.

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E-cigarettes, short for electronic cigarettes, are an alternative to traditional tobacco cigarettes; they provide the smoking sensation by heating the liquid nicotine and producing mist instead of burning tobacco.

The categories of the e-cigarette market based on product are T-vapor, vape mod, vaporizer, and cig-a-like. Due to its flexibility to be used with numerous flavors, dense aerosol production, and moderate pricing, the highest value share in 2018 was accounted for was by the vaporizer category.

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A vaporizer has the appearance of a fountain pen, and have a mouthpiece, a tank, and a battery. Vaporizers are considered as an advancement of cig-a-likes, as they offer more customization. Vaporizers have two types — closed and open tank.

Based on distribution channel, the e-cigarette market is classified into hypermarket/supermarket, online, vape shops, tobacconist, and others.

Among all, the market was led by the classification of tobacconist, which was closely followed by vape shops. Tobacconists are tobacco outlets or smoke shops that sell tobacco and related products in retail.

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During the forecast period, the classification of online channels is predicted to register the highest CAGR due to the rising popularity of e-commerce, where manufacturers sell their products via online partners, such as Craigslist, Alibaba, and Amazon.

Therefore, the market for e-cigarettes is set to register substantial growth in the forecast period due to the rising health concerns and popularity of smokeless and ashless vaping.

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https://www.psmarketresearch.com/market-analysis/south-korea-e-cigarette-market

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