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Global E-Cigarette Market to Witness 16.6% CAGR During 2016 – 2022

February 2017

According to a new market research report “Global E-Cigarette Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Product (Rechargeable, Disposable, eGo, Personal Vaporizers, eCigars, and Others), by Distribution Channel (Specialty Stores, Supermarkets, Online, Tobacconist, and Others)” published by P&S Market Research, the global e cigarette market is projected to reach $27,670 million by 2022, growing at a CAGR of 16.6% during 2016 - 2022.

Browse the Report Summary at: https://www.psmarketresearch.com/market-analysis/e-cigarette-market

Global e-cigarette market worth $7,690 million in 2015

The study highlights that the global e-cigarette market is likely to grow from $7,690 million in 2015 to $27,670 million by 2022. With the explosive growth of electronic devices and the increasingly stringent regulatory requirements posed by the government organizations on tobacco smoking, the e-cigarette market is gaining huge traction.


Insights on market segments

As per the findings of the research, the rechargeable e-cigarette has been globally the largest revenue contributor to the market. The specialty stores channel has been the largest revenue generator for the market globally.

Europe stands as the largest e-cigarette market

Geographically, Europe has been the largest market for e-cigarette, where the U.K. has been the largest contributor to the regional market. China was the major market in Asia-Pacific in 2015, whereas in North America, the U.S. generated the highest revenue during the same year.

Growing health awareness and advancement in electronic devices bolsters market growth

The factors driving the growth of the market include growing health awareness, smoke and ash less vaping, product innovation and advancement in device technology, and social acceptability. Globally, the awareness about health concerns related to smoking is increasing. This has resulted in development of alternatives, which helps consumers to quit traditional cigarettes. The number of people affected from cancer, resulted from smoking, is one of the major global concerns. E-cigarettes eliminate the risk of cancer and intake of more than 4,000 chemicals, which are produced by burning of tobacco cigarette.

The key trend observed in the market is the introduction of new vaping devices and e-liquid flavors. Tobacco giants are partnering with device technology providers to offer advanced smoke-less smoking experience to their users.

With rapid increase in the number of people addicted to tobacco smoking globally, e-cigarette is gaining value as an alternative to traditional tobacco cigarette. Tobacco companies are shifting from traditional tobacco products to next generation vaping devices due to more number of people, particularly teens around the globe, suffering from serious health concerns from tobacco intake.

Increasing number of vape shops and designated stores is another factor creating an opportunity for the growth of the global e-cigarette market. E-cigarette manufacturers are focusing on investments in major retail outlets and grocery stores to promote and sell their products exclusively through kiosks and designated in-store hubs. Many e-cigarette providers have set up their own brand outlets and stores to provide vaping experience similar to a club.

Top three players account for the major market share

The research states that the global e-cigarette market had a consolidated structure in 2015, where the top three competitors accounted for a major share of the market. Some of the key players in the global market include Philip Morris International, Reynolds American, VMR products, Japan Tobacco Inc, Altria Group Inc. and British American Tobacco.

Product launches, strategic partnerships, and mergers & acquisitions have been the major types of recent developments in this market. British American Tobacco, and Philip Morris International recently launched their new offerings, while Reynolds American Inc., and Japan Tobacco were acquirer of e-cigarette manufacturers.

GLOBAL E-CIGARETTE MARKET SEGMENTATION
BProduct

  • Rechargeable
  • Disposable
  • eGo
  • Personal Vaporizers
  • eCigars
  • Others

By Distribution Channel

  • Specialty Stores
  • Supermarkets
  • Online
  • Tobacconist
  • Others

By Geography

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World