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). Market research analysts at
Beige Market Intelligence, expect 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.
