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APAC E-Cigarette & Vaporizer Device Market: Focus On Type, Distribution Channel & Geography - Estimation & Forecast, 2016-2025

APAC E-Cigarette & Vaporizer Device Market: Focus On Type, Distribution Channel & Geography - Estimation & Forecast, 2016-2025

  • March 2016
  • 114 pages
  • ID: 4782010
  • Format: PDF
  • BIS Research
Up to $300 off Until Sep 20th 2020


Table of Contents

While the U.S and European e-cigarette markets are witnessing exponential growth, the Asia Pacific e-cigarette market is only beginning to gain momentum in the global scenario. The market is largely fragmented and comprises of a multitude of small and medium sized home manufacturers, with very little competition from foreign brands. The low levels of entry barriers and non-uniformity in regulations have enabled a large number of players to enter the market, significantly intensifying the competitive rivalry. The rate of consumption of e-cigarettes among smokers is still very low in the region, leaving potential for vast growth as the region is home to countries with some of the largest smoking populations in the world.

The report is a meticulous compilation of the different aspects of the e-cigarette industry including the Porter’s five forces analysis, market dynamics, and key consortiums. The e-cigarette market breakdown is presented by major product types, distribution channels, and geography. The market values form a critical part of the report; herein the revenue generated from sales of e-cigarettes devices is tracked to calculate the total market size.

While highlighting the key driving and restraining forces for this dynamic market the report also provides a comprehensive section of the prominent consortiums and their involvement in the e-cigarette industry. Moreover, the report includes a section dedicated to consumer’s perspective analysis.

The report has laid down special emphasis on the legal and regulatory framework, owing to the changing paradigms in the industry. Where on one hand, the state and local governments are planning to impose taxes on e-cigarettes following the likes of conventional tobacco, on the other hand, there are several consortiums identified who are opposing the proposals and wish to back e-cigarette by scientific studies. The industry analysis has been included analyzing the impact of the five major forces to understand the overall attractiveness of the industry.

The company profile section consists of the key players in the industry. The companies have been chosen on the basis of their market developments and revenue generation.

The Asia Pacific e-cigarette device market is expected to grow over $5.37 billion by 2025, at a double digit CAGR from 2016 to 2025. The market will witness a staggering growth until 2018, by when most of the regulatory and policy framework will fall into place. The growth rate will significantly increase thereafter, with significant revenue generation from evolving markets of China, India and Malaysia. Moreover, while disposable e-cigarettes dominated the APAC e-cigarette product market till 2016, rechargeable e-cigarettes, followed by personal vaporizers and Mods will soon take over the top market positions in terms of revenue generation. Although Malaysia dominated the market in 2016, China is expected to become the largest revenue generating country by the end of 2025, while India is expected to grow at the fastest CAGR of 43.6% throughout the forecast period and become the second largest market in the region by 2025.

Key questions answered in the report:
- How will the intensity of competitive rivalry evolve through the forecast period?
- Which factors will be driving the market through the forecast period?
- What factors are currently challenging the e-cigarette industry and how can they be addressed through the forecast period?
- Which consortiums are active in the e-cigarette industry?
- What are the prevalent e-cigarette product types?
- What is the average cost of each e-cigarette types along with their key market players?
- How will the region, known to be an e-cigarette manufacturing hub grow through the forecast period?
- Which country will lead the Asia Pacific e-cigarette market by the end of the forecast period?
- Who are the key players in the e-cigarette market?

Executive Summary
In the wake of increasing tobacco consumption and its detrimental health effects, the first e-cigarette was designed in China, back in 2003, in the hopes of finding an alternative to tobacco smoking. The market has now evolved through three generations and is standing at the point of influx, wherein a plethora of companies are entering, thanks to the low entry barriers such as government policy and capital requirements. The Asia Pacific e-cigarette market is poised to grow over $5 billion by 2025, at a double digit CAGR from 2016 to 2025.

The market has been largely driven by a flurry of activities including low cost, technological advancements in products and large number of smokers in the region among others. Moreover, the emergence of vape shops is increasingly engaging more number of users through their wide variety of products and better assistance while shopping for their desired products. However, the state and federal government’s proposals to regulate, heavily tax, or outright ban e-cigarettes are emerging as a key challenge for the market. Further, a growing market of counterfeit products and the unregulated manufacturing process in China are other restraining factors in the e-cigarette market.

Low end e-cigarettes, consisting primarily of disposable and rechargeable e-cigarettes, have been identified as the dominant e-cigarette type as far as revenue generation is concerned, accounting for over $150 million in 2016. However, owing to the changing preferences of users and the long term cost effectiveness factor, high end personal vaporizers and mods are expected to witness the fastest growth rate throughout the forecast period.

In spite of the proposals of stringent regulations and policies governing the e-cigarette market, the revenue from the key countries will continue to rise at a double digit CAGR through the forecast period. While China is expected to lead the market throughout the forecast period, India is expected to grow at the fastest CAGR, accounting for more than 26% of the global e-cigarette market value by 2025. Significant revenue flow will also be observed in South Korea.

Tobacco consortiums, recently established vaping associations, and regulatory bodies have a significant role to play in the Asia Pacific e-cigarette industry since the future growth of the market largely depends on the regulatory framework. Singapore and Thailand have completely banned vapor products; Hong Kong and Japan have banned nicotine containing e-cigarettes, while South Korea is considering taxing e-cigarettes in a similar fashion to regular cigarettes.

Revenue generation from retail distribution channel will continue dominating the APAC e-cigarette device market throughout the forecast period. Following the proposal, the companies will have to bring about drastic changes in their marketing and distribution strategies, which might affect the market growth through the forecast period. Moreover, five Malaysian states viz. Johor, Kedah, Penang, Kelantan and Terengganu have already banned sale of e-cigarettes and accessories, and a similar trend is expected to be followed through the forecast years.

The key market players profiled in the company include MistLife, Smoore Technology Limited, Kanger Tech, First Union, Kimree, Just Fog, ITC Limited and Japan Tobacco among others.

Countries Covered
China,Malaysia,Japan,India,South Korea,Australia

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