E-Cigarette Market Growth Rate Analysis 2020 to 2026
Selbyville, Delaware, United States, October 7 2020 (Wiredrelease) Global Market Insights, Inc –:E-Cigarette Market is expected to exceed USD 9 billion by 2026. Continuous increase in price of regular cigarette combined with urge among smokers to quit smoking will drive the market growth over the forecast timespan.
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Some major findings of the e-cigarette market report include:
Growing consumer focus to quit smoking tobacco products and their perception of e-cigarettes as a safer alternative to conventional cigarettes have led to the increased demand for these devices globallyAccording to a survey by New England Journal of Medicine (NEJM), around 18% of smokers who switched to e-cigarettes stopped smoking after a year. The study claims that these devices can help people quit cigarettes and are more effective for smoking cessation.Moreover, government agencies of several countries have launched several smoking cessation campaigns including websites, social media & SMS, and stop smoking aids to aware people regarding the harmful effects of smokingFor instance, the Australian government launched National Tobacco Campaign (NTC) under its National Tobacco Strategy, 2012-2018. The campaign aims to reduce smoking rates in Australia by targeting audiences through mediums, such as social media materials, partnerships with mental health organizations, and TV advertisementsKey players operating in the e-cigarette market are British American Tobacco (BAT), Imperial Brands PLC, Turning Point Brands Inc., Japan Tobacco Inc, JUUL Labs, Inc, MCIG Inc, Nicotek, LLC, Philip Morris International, and Reynolds American IncPlayers are introducing technologically advanced e-cigarettes with features of refilling the cartridge and different strengths of nicotineIn August 2019, JUUL Labs, Inc., launched Juul C1 in the UK, which is a Bluetooth-connected e-cigarette that can monitor users’ vaping and track their device
Increasing awareness of the harmful effects of smoking, such as heart disease, lung damage, mouth cancer, poor oral hygiene, pregnancy complications, vision problems, and weak immune system, has encouraged smokers to shift toward these devices and reduce the usage of traditional cigarettes. These devices reduce the harmful effects and prevent the intake of chemicals present in tobacco smoke. In January 2018, the National Academies of Sciences, Engineering, and Medicine of the U.S. reported that exposure to toxic substances from these electronic devices is considerably lower in comparison to combustible cigarettes. These electronic solutions do not burn tobacco as traditional cigarettes, making them safer alternatives as smoking cessation tools.
Rechargeable devices are simple-to-use, satisfying to taste, and provide a complete, premium smoking experience to users. These devices contain a special carrying case, a USB cable, and a wall adapter, allowing users to refill liquid of their choice. These cigarettes allow users to smoke for a longer time duration by refilling the e-liquid. The refilling feature attracts consumers to use different flavors, such as blueberry, tobacco, menthol, mango, kiwi, and cheery, propelling market growth. Moreover, these devices cost less, which is expected to increase the e-cigarette market growth.
Automatic e-cigarette market is expected to witness high demand among consumers owing to their benefits of affordability and longer battery life compared to traditional cigarette smoking. These devices automatically activate the heating element, eliminating the need to press and hold a button manually when a user needs to inhale. An automatic e-cigarette provides users more realistic experience similar to traditional cigarettes than a manual battery. However, these devices are more susceptible to damage through leakage due to absence of sealing on the batteries.
In the e-cigarette market, direct selling through online channels is expected to showcase high growth prospects owing to several benefits such as flexibility to buy products anytime, personalized delivery, and choice among a variety of options. Online websites are offering a wide range of e-cigarettes with additional discounts to attract larger customers. Additionally, the ongoing technological advancement in the e-commerce sector is helping customers to make better purchasing decisions, deliver real-time tracking, and extensive product information, resulting in significant growth for the potential of online sales as a distribution channel.
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The Europe e-cigarette market will witness high demand in the coming years owing to the rise in adoption of these devices among consumers. Countries including France, the UK, and Germany are experiencing high adoption of these products. France reported to have 1.2 million daily e-cigarette users, according to a study conducted by Groupe Xerfi, a private institute of economic studies in 2017. Moreover, the region consists of major electronic cigarette market players focusing on developing innovative products. Companies, such as Imperial Brands PLC and British American Tobacco PLC (BAT), are highly investing in R&D to encourage people to shift toward electronic-based smoking products from traditional cigarettes. For instance, in December 2018, BAT launched Vype iSwitch, a closed system vaping device with an ultra-slim, micro-engineered stainless-steel blade to attract traditional smokers to start vaping.
TABLE OF CONTENTS
Chapter 3. E-Cigarette Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.2.1. Impact on tobacco and cigar industry
3.2.2. Usage statistics, by age-group
3.3. Industry ecosystem analysis
3.3.1. Compnent suppliers
3.3.3. Technology providers
3.3.4. Raw material suppliers
3.3.5. Distribution channel analysis
3.3.6. Vendor matrix
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1. North America
3.5.3. Asia Pacific
220.127.116.11. South Korea
3.5.4. Latin America
18.104.22.168. South Africa
3.6. Industry impact forces
3.6.1. Growth drivers
22.214.171.124. Technological advancements and product innovation
126.96.36.199. Growing health awareness of tobacco consumption and adoption of safe alternatives
188.8.131.52. Increasing promotional activities by vendors
184.108.40.206. Rise in demand for flavored e-cigarettes
220.127.116.11. Cost-effectiveness of disposable e-cigarette models
3.6.2. Industry pitfalls & challenges
18.104.22.168. Implementation of stringent government regulations on consumption and import
22.214.171.124. Risks associated with the use of vaping and reported incidents
126.96.36.199. Negative impact on health owing to high addiction of nicotine
188.8.131.52. Unorganized sector
3.7. Porter’s analysis
3.8. Competitive landscape, 2019
3.8.1. Company market share analysis
3.8.2. Strategic dashboard
3.9. PESTEL analysis
3.10. Growth potential analysis
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