Global E Cigarette and Vaping Market

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MAXIMIZE MARKET RESEARCH PVT. LTD. Omkar Heights, Sinhagad Road, Manik Baug, Vadgaon Bk, Pune, Maharashtra 411051, India. [email protected] +91 20 6630 3320
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Listing Description

Global E cigarette and Vaping Market was valued US$ 9.01 Bn in 2017 and is expected to reach US$ 49.32 Bn by 2026, at a CAGR of 23.68% during a forecast period.The global E-cigarette and vaping market is segmented into product, distribution channel, component, and region. In terms of product, the global E-cigarette and vaping market are classified into rechargeable, modular, and disposable. Based on distribution channel, the global E-cigarette and vaping market are divided into retail and online. On the basis of component, the global E-cigarette and vaping market are categorized into an atomizer, a method of delivery (MOD), cartomizer, and E-liquid. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and South America.Increasing awareness of consuming safe, smokeless, and ashless tobacco is expected to reach the market. Its adoption is anticipated to rise, particularly among individuals willing to quit smoking or willing to smoke merely for recreation. The launch of new and innovative vaping devices is also expected to foster the adoption of these devices. Cancer caused by smoking is one of the main concerns affecting people. E-cigarettes eliminate the hazard of cancer and prevent the intake of more than 4,000 chemicals, which are produced during the burning of tobacco cigarettes. Continuous improvement in the technology is also driving the e-cigarette market. Tobacco manufacturers are progressively focusing on new technological developments to have an edge over their competitors. However, e-cigarettes are often compared to conventional cigarettes and hence tend to attract criticism, a factor that is anticipated to restrain the growth of the market.Consumers’ shift toward tobacco alternatives, untapped market in emerging economies, and growing investments in the industry are some of the key factors offering immense growth opportunities to the players operating in the e-cigarette and vaping market.Global E cigarette and Vaping MarketIn terms of product, rechargeable segment accounted for the highest share in 2017, owing to its low price which led to its improved adoption among e-cigarette consumers. Rechargeable devices can be used for a longer duration by switching cartridges containing e-liquid. Modular devices form the most promising product segment in the market.Based on distribution channel, the retail segment led the e-cigarette and vaping market. E-cigarettes were initially sold in retail outlets such as gas stations and vape shops. Furthermore, vape shops enabled users to test the device and e-liquid before making the purchase decision.

 

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