South Korea E-Cigarette Market

South Korea E-Cigarette Market Research Report: By Product (Cig-a-like, Vaporizer, Vape Mod, T-Vapor), Gender, Age-Group, Distribution Channel (Vape Shops, Online, Hypermarket/Supermarket, Tobacconist), Regional Insight (Chungcheong, Gangwon, Gyeonggi, Gyeongsang, Jeolla) - Industry Size, Share, Competition Analysis, and Growth Forecast to 2024

Growing awareness about the ill-effects of tobacco smoke inhalation and technological advancements are leading to the progress of the South Korean e-cigarette market. From $874.3 million in 2018, the market is predicted to expand to $3.5 billion by 2024 at a 24.3% CAGR during the forecast period (2019–2024). Electronic cigarettes do not contain tobacco, rather come with a nicotine solution in a refill or vial, which, on being burnt, creates mist instead of smoke.

The product segment of the South Korean e-cigarette market is categorized into t-vapor, vaporizer, vape mod, and cig-a-like. Among these, vaporizers dominated the market during the historical period (2014–2018) in terms of volume and value, as these offer a similar experience provided by traditional cigarettes. While these will keep leading the market in the forecast period, t-vapors would experience the highest revenue CAGR (30.6%), with global brands competing intensely to capitalize on their growing popularity.

The various distribution channels for e-cigarettes in the country include vape shops, tobacconists, hypermarkets/supermarkets, and online platforms. Among these, hypermarkets/supermarkets, vape shops, and tobacconists accounted for almost 65.0% value share in the South Korean e-cigarette market in 2018. During the forecast period, online channels will experience the fastest growth as manufactures are increasingly using them to sell their products. As the health effects of such products are still unclear, the national government increased the taxes on e-cigarettes by 117.0% in 2015, making manufacturers look for alternative sales platforms.

South Korea E-Cigarette Market Segmentation

Market Segmentation by Product
Cig-a-like
Disposable
Rechargeable
Vaporizer
Open tank
Closed system
Vape Mod
T-Vapor
Heat-not-burn
Infused

Market Segmentation by Gender
Male
Female

Market Segmentation by Age-Group
16-24
25-34
35-44
45-54
55-65
65+

Market Segmentation by Distribution Channel
Vape Shops
Online
Hypermarket/Supermarket
Tobacconist
Others

Market Segmentation by Region
Chungcheong
Gangwon
Gyeonggi
Gyeongsang
Jeolla

South Korea E-Cigarette Aftermarket Segmentation
By Type
Refill
By liquid type
Nicotine-based
Non-nicotine based
By flavor
Fruit
Tobacco
Menthol
Candy
Savory/Spice
Bakery/Dessert
Beverage
Menthol Tobacco
Others
Battery and charger
Others
By Region – Chungcheong, Gangwon, Gyeonggi, Gyeongsang, and Jeolla