Business impacts of COVID-19 on E-Cigarette Market - Research Report by P&S Intelligence

While in the past smoking cigarettes emerged as something ‘cool’, at times relating to class, these days people are becoming more and more aware about the presence of toxic substances in cigarettes. Smoking cigarettes causes immense harm to the body, causes several diseases, and decreases the health of smokers in general.

According to the Centers for Disease Control and Prevention, more than 480,000 deaths are caused each year in the U.S. In addition to this, smoking causes of 90% of all lung cancer deaths. Because of these factors, people are increasingly moving towards which will let them quit the habit of smoking.One of the solutions is the development of e-cigarette, which can potentially benefit adult smokers if it is utilized as a complete substitute for regular cigarettes and other smoked tobacco products.

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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 Point Brands Inc., Vapor Hub International, Inc., FIN Branding Group, LLC, Shenzhen iSmoka Electronics Co., Ltd., Shenzhen IVPS Technology Corporation Ltd., Innokin Technology Co. Ltd, Shenzhen Kanger Technology Co., Ltd. are some of the major players in the e-cigarette market.

According to a P&S Intelligence report, the global e-cigarette market attained a value of $11.5 billion in 2018 and is predicted to generate a revenue of $41.7 billion by 2024, advancing at a 21.6% CAGR during the forecast period (2019-2024).

Market Segmentation by Product
Cig-a-like
Disposable
Rechargeable
Vaporizer
Open tank
Closed system
Vape Mod
T-Vapor
Heat-not-burn
Infused

Market Segmentation by Gender
Male
Female

Market Segmentation by Age-Group
16-24
25-34
35-44
45-54
55-65
65+

Market Segmentation by Distribution Channel
Vape Shops
Online
Hypermarket/Supermarket
Tobacconist
Others

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For example, in April 2019, Philip Morris International Inc., announced regarding the provision of insurance premiums to tobacco users who are switching toward vaping products. The aim of the plan was to offer 2.5% discount on premium plans to the buyers.

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This release was published on openPR.