Electronic cigarettes are gaining popularity across the world as an alternative to traditional tobacco filled cigarettes. They are battery-operated devices containing liquid nicotine dissolved in a water and propylene glycol solution. They heat that liquid containing some specific flavor into a vapor, which the user then inhales. Due to the seamless design of electronic cigarettes and their disassociation with the smoke created by conventional cigarettes, these are considered to be less harmful to health. Players in the global electronic cigarettes market are experimenting with the design of their products to boost their sales.
This research report provides an in-depth analysis of the global electronic cigarette market and its affiliated industries. It offers essential insights into the historic, current, and estimated data and trends of the market in terms of both volume and value. It also covers information about the exports and imports, price dynamics, and turnover of the electronic cigarette industry. An in-depth analysis of key factors impacting the growth of the market is also included in the report. The report profiles prominent players in the global market along with their business strategies, revenue generation, latest developments, and contact information.
Global Electronic Cigarette Market: Drivers and Restraints
The ban on public smoking across several countries worldwide along with the intensification of anti-smoking campaigns is a boon to the global electronic cigarette market. A commonly cited driver of the market is the less hazardous effect of electronic cigarettes as compared to regular cigarettes along with the rising awareness regarding the ill-effects of smoking. The availability of a multitude of flavors and nicotine levels is also playing a vital role in the growth of the global market. Moreover, the rising prices of regular cigarettes and enjoyment of the experience of electronic cigarettes use are augmenting the market.
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However, several government organizations do not approve of electronic cigarettes as smoking cessation tools and therefore are imposing stringent regulations on their manufacturing. For instance, in May 2016, the U.S. Food and Drug Administration (FDA) announced that electronic cigarettes and other tobacco products such as cigars and hookahs will be treated just like cigarettes and therefore, their manufacturers will have to seek marketing approval for their products from FDA. The organization has also banned sales of such products to people under 18. Hence, such regulations are adversely affecting the growth of the market.
Global Electronic Cigarette Market: Region-wise Outlook
The regional markets meticulously examined in the research report are North America, Asia Pacific, Europe, and Rest of the World. The growth of Asia Pacific is primarily fuelled by the increasing demand for electronic cigarettes in countries such as China, Malaysia, and South Korea. The high inclination towards tobacco in these countries and rising disposable income are working in favor of the growth of the region. Europe will be a prominent market throughout the forecast period, with countries such as the U.K., Germany, Poland, Russia, France, and Italy being major contributors. The North America market for electronic cigarettes will be centralized in the U.S.
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Global Electronic Cigarette Market: Competitive Landscape
Several players in the global electronic cigarette market are adopting aggressive marketing messages to promote their products as safe and beneficial and to enhance their visibility. With the rising consumer demand for new and impactful sensory experiences, manufacturers are developing exotic and unique flavors of electronic cigarettes in order to stay relevant in the market. Some of the key players in the global electronic cigarette market are Njoy, British American Tobacco, Nicotek, Reynolds American, Altria, Vapor, and Lorillard.