Vape
Market (e-Cigarette and Vaporizer) Market – Report Insights
A
vape product or broadly known as e-cigarette, electronic cigarette, and
vaporizer is a battery operated device and has been reckoned as an alternative
to traditional tobacco cigarettes by many vendors. Without the inhalation of
smoke, it gives the experience of tobacco smoking where the user inhales the
vaporized nicotine emitted by the device. Vape products are smoke and
tobacco-free consumer products. These are also designed and used as a tobacco
harm reduction (THR) product and are sold as medical devices in many countries.
The major turning point for the vape product market was the year 2014 as the
market witnessed a record number of major acquisitions, the launch of
technologically advanced product, patent warfare, and the introduction of
government regulations.
The
effects of vaping on the human body are not yet fully known. However, they are considered
less toxic than traditional tobacco cigarettes because they produce vapor
instead of smoke. They are considered as an effective method that helps smokers
quit smoking, though there is no scientifically grounded evidence for this.
Vape
market (e-Cigarette and Vaporizer) research report covers the present scenario
and the growth prospects of the Worldwide Vape Products (e-Cigarette and
Vaporizer) Market for the period 2015-2021. The report provides in-depth
analysis of market size and growth of Worldwide Vape market. This market
research report includes a detailed market segmentation of the Worldwide Vapor
Products Market by
Vape
(e-Cigarette and Vaporizer) Products Segmentation
1)
Closed System Vape Products
1.1)
Cigalikes (also known as disposables/first-generation e-cigarette)
1.2)
Rechargeables (also known as second-generation e-cigarette)
1.3)
Refill Cartridges
2)
Open System Vape Products
2.1)
Vapor/tanks/mods or VTMs (also called personal vaporizer/modulars/electronic
cigarette/third-generation e-cigarette)
2.2)
E-liquids/e-juices
Vape
(e-Cigarette and Vaporizer) Products Geographic Segmentation
1)
North America
2)
Europe
3)
APAC
4)
ROW
Vape
(e-Cigarette and Vaporizer) Products Distribution Channels
1)
Online
2)
Retail
2.1)
Convenience stores
2.2)
Vape shops
2.3)
Tobacco shops
2.4)
Grocery
2.5)
Drug stores
2.6)
Others
The
report also provides market share and profiles the key vendors operating in the
Worldwide Vape Products Market and also provides the detailed competitive landscape
of key players.
Vape
(e-Cigarette and Vaporizer) Products – Market Size and Dynamics
A
vaping device or vapor product is a battery-powered inhaler that simulates
tobacco smoking. It is designed to provide inhaled doses of e-juice by
vaporizing the flavored liquid, and then simulating the effects of smoking by
vaporizing the liquid, which the user inhales and exhales. A vaping device,
also known as an e-vaping device, a personal vaporizer, or an ENDS uses a
heating element to vaporize the flavored liquid. The e-juices in the market are
available in more than 3,000 flavors with many more being added every month.
Vape
products are broadly classified into two categories: closed systems (cigalikes,
rechargeables, and refill cartridges) and open systems (VTMs and e-liquids). The
Worldwide Vape Products Market to reach approx. US$32.11 billion by 2021.
The
Worldwide Vape Products market has been segmented on the basis of distribution
channels and geographical region. North America accounted for the largest
market share of more than 40% of the market in 2015; it is expected to grow at
a high CAGR of around 27% between 2015 and 2021. However, APAC market is
expected to account for a share of around 21% of the market in 2021.
Vape
(e-Cigarette and Vaporizer) Products – Drivers and Trends
This
market research report provides market overview of the factors driving and
restraining the growth of the market. The report also outlines the key trends
emerging in the market that will contribute to the growth of Worldwide Vape
Products (e-Cigarette and Vaporizer) Market during the forecast period. The
factors driving the growth of the market include consumers' perception of vapor
products as an alternative to traditional tobacco cigarettes. There is
increased desire among consumers worldwide to quit smoking tobacco and this has
made vaping a rapidly growing concept worldwide. The global sales volume of
traditional cigarettes has declined owing to an increase in sales of
e-cigarette and vaping. The US witnessed about 19% decline altogether in
traditional cigarette sales among adults, i.e., a drop from 20 of every 100
adults (19.8%) in 2008 to nearly 16 of every 100 adults (15.7%) in 2015. Due to
this, the majority of the global players in the tobacco industry witnessed a
massive decline in the shipment of traditional cigarettes in 2015, prompting
bigger tobacco companies like Altria Group, Imperial Tobacco, and Reynolds
American to rush into the vapor products market. Also, the increasing number of
deaths caused by smoking-related cancer has propelled people to stop smoking
traditional cigarettes. For instance, as per the US government, approximately
480,000 people, due to active smoking, and nearly 42,000 people, due to passive
smoking, die in the country every year. The tobacco smoking is attributed to
one in every five deaths in the US.
Some
of the major challenges confronting the Worldwide Vape Products (e-Cigarette
and Vaporizer) Market include governments introducing stringent norms to
regulate vapor products. Vape products are banned in many major economies such
as Brazil, Japan, and Indonesia. Also, the governments of Poland and India are
considering imposing a complete ban on the sale and use of these products. In
March 2016, the US Department of Transportation (DOT) banned the use of
e-cigarette, vape pens and vaporizer or vapes in flights. Moreover, growing
health concerns related to the use of vapor products is acting as a challenge
to the growth of the market. Regulatory bodies are still not clear on how much
nicotine or other chemicals are actually being inhaled by the body while
vaping. In addition, the effectiveness of these products in helping people quit
smoking has not been fully studied. Researchers have indicated that e-liquids
containing chemical flavoring have substances which cause lung diseases. About
90% of the flavored e-liquid or e-juice in the market contain an organic
compound called Diacetyl. This flavoring chemical, i.e., Diacetyl has also been
linked to severe lung diseases. Exposure
to this chemical leads to Bronchiolitis obliterans, spirometry abnormalities
and other harmful respiratory symptoms.
The
market research report also provides the Porter’s five forces analysis along
with a description of each of the forces and its impact on the market.
Vape
(e-Cigarette and Vaporizer) Products – Key Vendors and Market Share
This
market research report profiles the major companies in the market and also
provides the competitive landscape and market share of key players. Within the report covers the entire market
outlook regarding the value chain operating within the market. The major
players in the market include Altria Group, British American Tobacco (BAT),
Imperial Brands (earlier Imperial Tobacco), Japan Tobacco, NJOY, and Reynolds
American.
Other
prominent vendors in the market include Ballantyne Brands, CB Distributors,
Gamucci, Nicotek, RRR Chemicals, Vapor, ECIG, VMR Products, and White Cloud
among others.
Spanning over 124 pages “Global
Vape Market (e-Cigarette and Vaporizer) - Strategic Assessment and Forecast
Till 2021” report covers Report Coverage, Market
Research Methodology, Market Landscape, Key Market Trends, Key Market Growth
Drivers, Key Market Restraints, Value Chain Analysis, Worldwide Vapor Products
Market, Market Segmentation by Distribution Channels, Geographical
Segmentation, Vendor Landscape, Key Vendor Analysis, Appendix, Summary of the
Report.
