Global e-cigarette & vaporizer market is anticipated to grow at a 25.0% CAGR between 2016-2021, as per the Market Research Future’s (MRFR) latest e-cigarette industry statistics. An electronic cigarette, simply put, is a device that is battery-operated, which emits doses of non-nicotine solutions or vaporized nicotine for the person to inhale. This aims to offer a similar sensation as that of inhaling tobacco smoke, sans smoke. E-cigarettes are also known as vape pens, vaporizer cigarettes, electronic nicotine delivery systems, and e-cigs. The liquid used in e-cigarette generally contains flavorings, glycerin, propylene glycol, nicotine, and other chemicals. These cigarettes come in an array of sizes and shapes and can look like USB flash drives, pens, pipes, cigars, cigarettes, or other forms. One of the latest e-cigarette market trends is the e-cigarette companies are marketing increasingly through online platforms and also doing product promotions through social media.
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Numerous factors are pushing the growth of the e-cigarette & vaporizer market. Such factors, according to the new Market Research Future report, include extensive popularity through word of mouth, increasing number of people wanting to quit smoking, changes in preferences and lifestyle, constant improvement for new product development, effective customization choices offered by vendors, cost-effective, and accessibility of a variety of options. Additional factors propelling the growth of the e-cigarette & vaporizer market include rising internet penetration rate, increasing distribution through online stores, increasing awareness about the side effects of tobacco, and increasing adoption of e-cigarettes, especially in developed regions.
On the contrary, the unregulated process of manufacturing carried out in China, coupled with heavy tax rates imposed by the government, are factors that may limit the e-cigarette & vaporizer market growth during the forecast period.
The MEFR report offers a complete segmental analysis of the global e-cigarette & vaporizer market based on the product type.
By product type, the e-cigarette & vaporizer market is segmented into mods, personal vaporizers, ego and tanks, rechargeable e-cigarette, disposable e-cigarette, and others. Of these, the disposable e-cigarettes segment will have the largest share in the market during the forecast period. This will be followed by the rechargeable e-cigarette segment.
By region, the e-cigarette & vaporizer market report covers the latest trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, North America will have the lion’s share in the market over the forecast period. Numerous factors are propelling the growth of the e-cigarette & vaporizer market in the region, such as increasing use of e-cigarettes & vaporizer, increasing healthcare concerns, and strict regulations and rules made by the government regulatory bodies to limit the usage of tobacco. The US is the major contributor in this region for the burgeoning demand for e-cigarette & vaporizer
The e-cigarette & vaporizer market in Europe will have a significant share during the forecast period for the presence of strict policies that have been enforced by the EU-TPD (European Union Tobacco Products Directive). Such laws are limiting the cigarette industry’s growth that in turn, is boosting the demand for e-cigarette & vaporizers.
The e-cigarette & vaporizer market in the APAC region will grow at the fastest pace over the forecast period. Numerous factors are propelling the growth of the e-cigarette & vaporizer market in the region, such as the presence of many leading manufacturers in the region, the developing stage of this market, and increasing awareness about new product launches and e-cigarette. China and India are the major contributors in this region.
The e-cigarette & vaporizer market in the MEA will have steady growth during the forecast period.
Notable players profiled in the e-cigarette & vaporizer market report include Fin Branding Group LLC, Fontem Ventures, Electronic Cigarettes International Group, Gamucci Electronic Cigarettes, Cloudcig, Clearette Electronic Cigarette Co, Cigavette, Bull Smoke, INC, CB Distributors, British American Tobacco Plc (Bat), Ballantyne Brands, LLC, and Altria Group, INC.
August 2019: Renowned e-cigarette brand, SnowPlus has launched a new product line- Smokeless Edition, which removes smoke from the process of vaping. This vapor-less feature will be a plus as it will not create any disturbance to the surrounding of the user, thereby creating the game-changing innovation.