E-Cigarette Vaping Device Market Value Share, Analysis and Segments 2016-2020

Vaping or vapour inhaling is one of the latest methods of delivering nicotine to the body and is associated with the use of e-cigarettes. E-cigarettes or vaping devices have been introduced in the market in the last 10 years primarily as a substitute to regular smoking as they have an added advantage of not containing other harmful materials such as heavy metals, carcinogens and tars. According to the American Lung Association, ordinary cigarettes are made of up to 600 different ingredients and are estimated to contain a total of 7,000 different chemicals of which 60-70 are known carcinogenic chemicals such as formaldehyde, ammonia, hydrogen cyanide, arsenic and DDT. E-cigarettes or vaping devices contain less than 10% of these chemicals with the largest component being nicotine itself. This fact was marketed strongest to the smokers worldwide and the difference caught on very quickly in the developed regions of the world. Initially, the devices were manufactured by small private companies which were absorbed by large multi-national tobacco companies after-market adoption increased in the past few years. The report objectives are to understand the global market for e-cigarettes and the intended readers are manufacturers, distributors and other members within the value chain of e-cigarettes and accessory products market.

An e-cigarette is an electronic device comprising of several components such as the atomizer, the microchip processer, battery, charger, nicotine cartridges, sensors and other parts such as adapters and flavours. The biggest challenge in raising adoption in emerging countries for e-cigarettes is creating awareness. The use of e-cigarettes mandates understanding other terminologies such as Ohms, volts, vape time, cartridge capacity and assembling the device. Due to the complexity and cost of the device as compared with regular cigarette, there is currently a low adoption rate seen in countries of Africa, Middle-East, Latin America and parts of Asia-Pacific.

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Challenges are abundant for the e-cigarette market as technological drawbacks have been plaguing this market. There have been numerous instances of e-cigarettes blowing up due to overheated batteries and device. Cleaning and maintaining the device is another problem for average smokers as the dose of nicotine is not controlled accurately delivering high/low doses on an irregular basis. Legal framework also reduces the use of e-cigarettes as FDA has no validation of safety and efficacy of these devices. Ban on these devices has been put into place in many countries such as Brazil, Argentina, United States, Australia and United Arab Emirates. There are however markets such as Turkey, China, Malaysia, Japan, Korea and most parts of Europe that are currently forming the largest markets. That being said, the global e-cigarette market is highly unregulated with several norms and policies in place that people are unaware such as prohibition of importing e-cigarette cartridges and heavy taxation that indirectly increase and fluctuate the adoption of these devices.

The market in terms of players is highly fragmented, although several notable players can be mentioned based on impact of their marketing and brand recall amongst 'vapers'. These include V2 Cigs by VMR Products, Vapor Fi or Vapor Zone, Mark Ten by Altria, Halo Cigs, Apollo E-Cigarettes, Green Smoke, Blu Cigs by Lorillard, Bull Smoke, NJoy, ProVape, Vapor King, Premium, Vuse by R.J. Reynolds, The Safe Cig and Smoke Tip. The above mentioned companies are just a few of over 1000 companies recorded by our analysts over the world that account for the global market. In recent times, the Indian government after a long battle has retained a ban on sale of ITC's e-cigarette initiative and hopes to employ a strict ban country-wide. Large tobacco companies involved in this market primarily include Reynolds, British American Tobacco (BAT), Indian Tobacco Company (ITC), Japan Tobacco International (Zandera's E-Lites), Altria and Lorillard. This market was estimated to be worth over US$ 3.5 billion in 2014 and is driven primarily by new smokers opting for vaping and adoption of the devices by existing smokers as well.

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