May 22, 2020 (Market Insight Reports) -- Selbyville, Delaware Market Study Report adds 2020-2026 Global E-Cigarette report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.
Increasing awareness of the harmful effects of smoking, such as heart disease, lung damage, mouth cancer, poor oral hygiene, pregnancy complications, vision problems, and weak immune system, has encouraged smokers to shift toward these devices and reduce the usage of traditional cigarettes. These devices reduce the harmful effects and prevent the intake of chemicals present in tobacco smoke. In January 2018, the National Academies of Sciences, Engineering, and Medicine of the U.S. reported that exposure to toxic substances from these electronic devices is considerably lower in comparison to combustible cigarettes. These electronic solutions do not burn tobacco as traditional cigarettes, making them safer alternatives as smoking cessation tools.
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E-Cigarette Market is expected to exceed USD 9 billion by 2026. Continuous increase in price of regular cigarette combined with urge among smokers to quit smoking will drive the market growth over the forecast timespan.
Some major findings of the e-cigarette market report include:
– Growing consumer focus to quit smoking tobacco products and their perception of e-cigarettes as a safer alternative to conventional cigarettes have led to the increased demand for these devices globally
– According to a survey by New England Journal of Medicine (NEJM), around 18% of smokers who switched to e-cigarettes stopped smoking after a year. The study claims that these devices can help people quit cigarettes and are more effective for smoking cessation.
– Moreover, government agencies of several countries have launched several smoking cessation campaigns including websites, social media & SMS, and stop smoking aids to aware people regarding the harmful effects of smoking
– For instance, the Australian government launched National Tobacco Campaign (NTC) under its National Tobacco Strategy, 2012-2018. The campaign aims to reduce smoking rates in Australia by targeting audiences through mediums, such as social media materials, partnerships with mental health organizations, and TV advertisements
– Key players operating in the e-cigarette market are British American Tobacco (BAT), Imperial Brands PLC, Turning Point Brands Inc., Japan Tobacco Inc, JUUL Labs, Inc, MCIG Inc, Nicotek, LLC, Philip Morris International, and Reynolds American Inc
– Players are introducing technologically advanced e-cigarettes with features of refilling the cartridge and different strengths of nicotine
– In August 2019, JUUL Labs, Inc., launched Juul C1 in the UK, which is a Bluetooth-connected e-cigarette that can monitor users' vaping and track their device
In the e-cigarette market, direct selling through online channels is expected to showcase high growth prospects owing to several benefits such as flexibility to buy products anytime, personalized delivery, and choice among a variety of options. Online websites are offering a wide range of e-cigarettes with additional discounts to attract larger customers. Additionally, the ongoing technological advancement in the e-commerce sector is helping customers to make better purchasing decisions, deliver real-time tracking, and extensive product information, resulting in significant growth for the potential of online sales as a distribution channel.
The Europe e-cigarette market will witness high demand in the coming years owing to the rise in adoption of these devices among consumers. Countries including France, the UK, and Germany are experiencing high adoption of these products. France reported to have 1.2 million daily e-cigarette users, according to a study conducted by Groupe Xerfi, a private institute of economic studies in 2017. Moreover, the region consists of major electronic cigarette market players focusing on developing innovative products. Companies, such as Imperial Brands PLC and British American Tobacco PLC (BAT), are highly investing in R&D to encourage people to shift toward electronic-based smoking products from traditional cigarettes. For instance, in December 2018, BAT launched Vype iSwitch, a closed system vaping device with an ultra-slim, micro-engineered stainless-steel blade to attract traditional smokers to start vaping.
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