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Global E-cigarettes Industry

Global E-cigarettes Industry

  • April 2021
  • 278 pages
  • ID: 5895977
  • Format: PDF
  • Global Industry Analysts


Table of Contents


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- Urgent Need to End the Tobacco Epidemic Gives e-Cigarettes a $24.5 Billion Global Opportunity
- The global market for e-Cigarettes is expected to reach US$24.5 billion by the year 2027, trailing a post COVID-19 CAGR of 8.3% over the analysis period 2020 through 2027. Tobacco epidemic is the biggest public health crisis the world is facing. Tobacco smoking kills more than 8 million people worldwide and is the second largest reason for mortality after high blood pressure. Globally, there has been a significant increase in number of respiratory disorder cases, including COPD (such as emphysema and bronchitis), asthma, and respiratory infections. COPD is one of the leading causes of morbidity and mortality that entails the dubious distinction of being the fastest growing cause of death in countries such as the US. During the past 25 years, death rate for COPD has increased up to 70% and an estimated 15 million adults are affected by COPD in the US alone. This high prevalence of COPD can be attributed to high levels of smoking, the leading risk factor for the disease. E-cigarette or electronic cigarette is a handheld electronic device that vaporizes a liquid that is available in different flavors. Tobacco vapor products and e-cigarettes feel and look just like traditional cigarettes. e-Cigarettes are less harmful than traditional cigarettes as they contain lower levels of toxic chemicals and are promoted as a therapeutic instrument for helping smokers quit traditional smoking. Amid the backdrop of stringent anti-tobacco regulations; increased taxation; declining smoking habits in several key markets; ban on advertisements and branding; growing threat of counterfeit, illicit and contraband cigarettes; and increasing restrictions on public smoking, leading cigarette manufacturers are keenly eyeing the rapidly growing market fore-Cigarettes for offsetting revenue shortfalls.
- The market, on the basis of component, is segmented into Vape Mod, Atomizer, E-liquid, and Customizer. On the basis of type, the market is segregated into disposable, modular and rechargeable. The e-liquid used in e-cigarette is made of glycerin, propylene glycol, flavorings and nicotine. Growing interest among new smokers, ex-smokers and current smokers is poised to inflate the demand. Open tank systems, featuring advanced technology, high interoperability and customization, have become the most popular product in the market. Closed tank systems come with large tanks, longer battery life, higher vapor formation ability, and combine all the benefits of open tank systems and rechargeable e-cigarettes. Developed as a safe substitute for smoking cigarettes by leading tobacco companies, these battery-operated devices are growing in popularity among young millennial. Another factor that is likely to strengthen demand is the availability of an array of e-cigarettes options. The market will continue to benefit from factors like cost-effectiveness, presence of well-established brands, product customizations, growing health concerns, increasing demand for ash less and smokeless vaping, increasing number of designated stores and vape shops, and expected health benefits. Changes in preferences & lifestyle, different fragrances & flavors are also steering market growth. Other key factors driving growth in the market include the launch of new products, declining consumption of cigarettes, as well as growing adoption of Next Generation Products (NGPs).
- Availability of easy and strong distribution channels, particularly e-commerce platform and online websites, is a major factor driving market growth. These channels provide an opportunity to market players to expand their operations both globally and locally. At present, retail channels like tobacco users, convenience stores and vape shops act as primary distribution channels and generate maximum revenue. Of late, various e-cigarette brands have shifted their attention to online retail channels and social media platforms for promoting their products. In addition, several players are leveraging mobile ads for advertising e-cigarettes. Mobile ads or paid ads on smartphones, websites and applications are optimized for mobile and hold immense potential to reach a large number of young people. Companies are also marketing e-liquids that imitate common food items, with some of them holding high appeal for kids. Another strategy adopted by e-cigarette brands is to target various distribution channels including online platforms, hypermarkets, supermarkets and specialized retailers. Various supermarket chains in different regions have started selling e-cigarettes. The product demand is also facilitated by mushrooming vape shops and vape cafes across the US and the UK. The increasing access to e-cigarettes through these distribution channels is anticipated to further help brands in pushing overall demand for e-cigarettes.

- Select Competitors (Total 56 Featured) -
  • British American Tobacco plc
  • Eleaf Group
  • FIN Branding Group, LLC
  • Generation V
  • Imperial Brands plc
  • Innokin Technology Co., Ltd
  • Japan Tobacco Inc.
  • Juul Labs, Inc.
  • MadVapes LLC
  • Mig Vapor LLC
  • Mojo Tech
  • NicQuid LLC
  • Philip Morris International Inc.
  • Shenzhen IVPS Technology Corporation Ltd.
  • Shenzhen Kanger Technology Co., Ltd.
  • Smoker Friendly International LLC
  • Vapor4Life, Inc.

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