E-cigarette is a battery-operated device, which is considered as a safe alternative to smoking cigarettes. It simulates an experience of tobacco smoking without the inhalation of smoke. It is used as a substitute of conventional cigarettes that emits vaporized nicotine, which is inhaled by consumers. Owing to its favorable effects on human body compare to the traditional cigarette & tobacco vapor (T-Vapor) along with rising awareness of people about adverse effects on health of consuming traditional cigarette drives the growth of electric cigarette and tobacco vapor market over the forecast years.
According to study, “Global Electronic Cigarette and tobacco Vapor Market to reach USD 55.29 Billion by 2026” the key companies operating in the global electronic cigarette and tobacco vapor market are Reynolds American Inc., Healthier Choices Management Corp (Ruthless Vapor Corp), JUUL Labs, Inc., MCIG Inc., Imperial Tobacco Group, Japan Tobacco Inc., Altria Group, Inc., International Vapor Group, Philip Morris International, Nicquid, British American Tobacco Plc. and Shenzhen IVPS Technology Co., Ltd.
Based on product, electronic
cigarette and tobacco vapor market is segmented as rechargeable, disposable and
modular devices. Rechargeable devices segment holds major share in global
market as they are used for longer duration by switching the cartridges
containing e-liquid. Moreover, these devices cost fairly less, which is
anticipated to increase their adoption. Modular devices is anticipated to
witness higher growth rate since it offer customization options that help the
users to combine different parts for altering the flavor and the amount of
vapor generated from the device during the forecast period. Based on component,
market is segmented as vape Mod, atomizer, e-liquid and cartomizer. Based on
battery mode, market is segmented as manual e- cigarette and automatic e-
cigarette. In addition, based on distribution channel, market is segmented as
specialist e-cig shops, tobacconist, supermarkets and online.
The electronic cigarette and
tobacco vapor market is driven by rise in awareness towards safe alternatives
of tobacco consumption, followed by growth in technological advances in
e-cigarette technology, increase in awareness among the young population due to
various medical studies that term electronic cigarettes as a safer alternative
to traditional cigarettes and rise in need to reduce global tobacco related
mortality & morbidity. However, Risks associated with the use of electronic
cigarettes and reported incidents and higher cost compares to the traditional
cigarette & tobacco vapors may impact the market. Moreover, high untapped
market potential in the emerging economies is a key opportunity for market.
Based on geography, the
North-American region holds major share in global electronic cigarette and
tobacco vapor market owing to presence of large market players and presence of
large young population in the region. Whereas, the European and Asian-Pacific
regions are estimate to witness higher CAGR due to favorable government
initiatives regarding consumption of such products over the forecast period. In
upcoming years, it is predicted that future of the global market will be
optimistic on account of significant growth in the health awareness of
population during the forecast period. The global electronic cigarette and
tobacco vapor market is valued approximately US $10.02 billion in 2018 and is
expected to grow with a growth rate of more than 23.80% over the forecast
period 2019 to 2026.
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Global
Electronic Cigarette and tobacco Vapor Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249
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