E-Cigarette Market 2020: Global Report, Size, Share, Growth, Key Players and Forecast Till 2025
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
The competitive landscape has been studied with the detailed profiles of the key players operating in the market. Some of these players include Philip Morris International Inc., Altria Group, British American Tobacco p.l.c., Japan Tobacco Inc., Imperial Brands PLC, International Vapor Group, Nicotek, LLC, NJOY, LLC, Reynolds American Inc., VMR Products LLC, MCIG Inc., ITC Limited and J Well France.
Global E-Cigarette Market Trends:
The market is primarily driven by the growing number of smokers across the globe. However, there is a rising consciousness among smokers regarding the adverse effects associated with the usage of regular cigarettes, which has led them to shift to e-cigarettes as a safer alternative. Growing willingness among the masses to quit smoking tobacco products has consequently contributed to the bourgeoning sales of e-cigarettes. Product innovations, such as the launch of new-generation e-cigs, which offer flexibility to the users in terms of strength and refilling, is further driving the demand for e-cigarettes. The easy availability of mod and pod vapes has also influenced the market growth. Pod vapes are light in weight, compact and produce less vapor as compared to regular e-cigs. On the other hand, mod variants are larger in size and are characterized by higher vapor production. Moreover, the growing trend of Do-it-Yourself (DIY) e-liquid by combining various flavors as per the customization requirement of the users, along with the introduction of numerous flavored variants and easy product availability through online retail portals, is also creating a positive outlook for the market. Other factors, such as the rising number of female smokers, technological advancement and extensive research and development (R&D), are expected to drive the market further. On account of the aforementioned factors, the market is expected to reach a value of US$ 27 Billion by 2025, exhibiting a CAGR of 12.8% during 2020-2025.
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Key Market Segmentation:
Market Breakup by Product:
1. Modular E-Cigarette
2. Rechargeable E-Cigarette
3. Next-Generation E-Cigarette
4. Disposable E-Cigarette
Based on the product, next-generation e-cigarettes represent the most preferred segment. Other major segments include modular, rechargeable and disposable e-cigarettes.
Market Breakup by Flavor:
On the basis of the flavor, the market has been divided into tobacco, botanical, fruit, sweet, beverage and others. Among these, tobacco-flavored e-cigarettes exhibit a clear dominance in the market.
Market Breakup by Battery Mode:
1. Automatic E-Cigarette
2. Manual E-Cigarette
Based on the battery mode, automatic e-cigarettes account for the majority of the total market share, followed by manual e-cigarettes.
Market Breakup by Distribution Channel:
1. Specialist E-Cig Shops
3. Supermarkets and Hypermarkets
On the basis of the distribution channel, the market has been classified into specialist e-cig shops, online, supermarkets and hypermarkets, tobacconists, and others. Currently, specialist e-cig shops represent the preferred mode of distribution.
Market Breakup by Region:
1. Asia Pacific
3. North America
4. Middle East and Africa
5. Latin America
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
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