E-Cigarettes & Vaporizer Market – Overview

The e-cigarette industry has grown manifold since its inception in 2006. The intention behind the introduction of e-cigarettes was to replace or act as substitutes to conventional cigarettes. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global E-Cigarettes & Vaporizer Market - Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.

Technological advancement, presence of established tobacco brands, and long term cost-effectiveness appeal are some of the factors fuelling the demand for the product. In addition, owing to growing number of e-cigarette users, globally, the market for the product will grow swiftly during the forecast period. Also, consumers are increasingly demanding for more variety in flavors and strength of nicotine, and majority of industry players have introduced novel flavors in recent years which have accelerated the demand for the product manifold.

Furthermore, e-cigarettes and vaporizers are considered to be less harmful than traditional cigarettes which is another driving factor for e-cigarette market. The popularity of e-cigarettes is growing rapidly, specifically in UK and France market owing to effective marketing strategies adopted by the companies. The products have been positioned as healthier alternative to smoking targeting adult smokers. However, stringent government regulations and high taxes being imposed on e-cigarette containing nicotine liquid could hinder the growth of the market.

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Latest Industry Updates

Dec 2017 British American Tobacco launched a new product, namely glo in Romanian Market. The product is based on heat-not-burn technology and is potentially less risky than traditional smoking products. The product also produces less smell and no ash as compared to smoking
Nov 2017 Fontem Ventures acquired Nerudia, a UK based company. Through this acquisition, the company enhanced its capabilities in innovation and regulatory compliance as well as it further adds significant GMP manufacturing capacity at Nerudia’s MHRA (Medicines and Healthcare products Regulatory Agency) licensed facility.
Oct 2017 British American Tobacco expanded its innovative product glo in Russian Market. This expansion is in line with the company’s strategy to gain potential market share in Russian Market.
Apr 2016 Fontem Ventures announced that they have reached a settlement agreement that resolves ongoing litigation in the UK. The settlement ends patent infringement proceedings brought by Fontem Ventures and Fontem Holdings 1 in March 2015 in the Patents Court of the High Court of Justice, London.
Feb 2016 S. Smokeless Tobacco Company, subsidiary of Altria recalls certain smokeless tobacco products manufactured at its Franklin Park, IL Facility owing to discovery of foreign metal object found in some of its product
Jul 2015 Japan Tobacco Inc. acquired leading US e-cigarette company Logic Technology. Through this acquisition, the company aims to expand its e-cigarette business in US Market.
Vaporizer Market - Competitive Analysis

The major players are investing heavily in research and development of novel products owing to increasing awareness of health impact of traditional smoking products among consumers. E-cigarettes & vaporizer based on novel heat-not-burn technologies are comparatively less risky and comes with features to prevent overheating and enjoy significant consumer appeal. The market entropy in the e-cigarette industry is inclined towards increasing numbers of acquisitions and partnerships, wherein smaller players are collaborating with established players with strong distribution channels to grow in the industry. In order to further boost revenue prospects, the companies need to invest in untapped market of emerging regions.

The key players profiled in E-Cigarettes & Vaporizer are as Altria Group Inc. (U.S.), Ballantyne Brands LLC (U.S.), British American Tobacco (U.K.), Bull Smoke (U.S.), Japan Tobacco International (Japan.), Cloudcig (U.K.), Electronic Cigarettes International Group (U.S.), Fin Branding Group LLC (U.S.), Fontem Ventures (Amsterdam), and Gamucci Electronic Cigarettes (U.K.)

E-Cigarettes & Vaporizer Market – Segments

The global E-Cigarettes & Vaporizer market has been divided into product type and region.

On The Basis Of Product Type: Disposable E-Cigarette, Rechargeable E-Cigarette, Ego and Tanks, Personal Vaporizers and Mods, and Others
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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E-Cigarettes & Vaporizer Market - Regional Analysis

Globally, North America, with U.S. being the largest consumer in the world will dominate the market throughout the forecast period; Asia-Pacific will be growing at the fastest CAGR, accounting for more than XX% of the global e-cigarette market value by 2021. Significant revenue flow will be observed from China and India over the forecast period owing to increasing number of smokers in these countries.