Aug 22, 2019 (The Expresswire) -- Global Electronic Cigarette Market is accounted for $9.39 billion in 2018 and is expected to reach $58.32 billion by 2026 growing at a CAGR of 22.5% during the forecast period. Growing awareness towards the harmful effects of smoking traditional cigarettes is few of factor fuelling the market growth. However, the lack of information provided by the manufacturers regarding safety, use, and maintenance of devices is restricting the market growth.
Global Electronic Cigarette Market Research Report and Forecast 2026 has been prepared based on an in-depth market study with inputs from industry research experts.
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Some of the key players profiled in the Electronic Cigarette market include Philip Morris International, Healthier Choices Management Corp, MCIG Inc., ITC Limited, Altria Group Inc., British American Tobacco plc, Japan Tobacco, Inc., J WELL France, Imperial Tobacco Group, Nicotek Llc, Njoy Inc., International Vapor Group, Reynolds American Inc and Vmr Flavours Llc.
E-cigarettes are devices that operate by heating a liquid solution to a high enough temperature so that it produces an aerosol that is inhaled. Solutions, sometimes called e-liquid, typically include nicotine, flavoring and a humectant, such as propylene glycol, to retain moisture and create an aerosol when heated. Many of the flavorings and humectants used in e-liquids have been approved by the Food and Drug Administration for oral consumption, but not for inhalation, due to the lack of research regarding the safety of these compounds when inhaled.
Rising awareness pertaining to the harmful effects of smoking is one of the major drivers observed in the market. Moreover, changing consumer preferences, an increasing number of vape shops and designated stores, as well as new product innovations are propelling the growth of the Electronic Cigarette market.
• Completely Disposable Model
• Personalized Vaporizer
• Rechargeable but Disposable Cartomizer
• Vape Mod
Based on the distribution channel, online channels segment is having a huge demand, owing to the increasing adoption of e-commerce. By Geography, Europe is estimated to have a lucrative growth in emerging countries such as the U.K., France, and Russian markets due to increasing seven traditional cigarette smokers classify themselves as current e-cigarette smokers.
The market is driven by the growing awareness among the young population owing to various studies that have been carried out by medical associations that term Electronic Cigarettes as being safer than traditional cigarettes. Moreover, the customization options offered by vendors and continuous improvement toward new product development is expected to drive the market growth over the forecast period 2019-2026.
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Based on product, the Electronic Cigarette market is categorized into cig-a-like, vaporizer, T-Vapor and vape mod; of which, vaporizer category accounted for the highest share in 2018, owing to its moderate cost, dense aerosol production, and flexibility where it can be used with a different type of flavors. Development in vaping technology and increased flavor offerings are further expected to attract more users to the existing customer base. Furthermore, Electronic Cigarette manufacturers have been promoting their offerings as an economical alternative to traditional tobacco cigarettes, which might attract more users.
• Battery and Charger
• Other Aftermarkets
Distribution Channels Covered:
• Specialist E-Cig Shops
• Supermarkets and Hypermarkets
• Vape Shops
• Other Distribution Channels
The Electronic Cigarette market is moving toward a fragmented market scenario, as the intensity of competitive rivalry has been on the rise over the past few years, owing to the multiple number of large and established organizations that have entered the market. Increasing firm concentration ratio and advertising expenses by companies are also heightening the competition.
On the basis of the distribution channel, Electronic Cigarette market has been categorized into tobacconist, hypermarket/supermarket, vape shops, online, and others. Among these, the tobacconist category has led the distribution channel, closely followed by vape shops. However, the market for online channels is expected to witness the highest CAGR during the forecast period, owing to the increasing adoption of e-commerce; where manufacturers are either selling their product through online partner channels like Amazon, Alibaba, Craigslist or through their own online portals.
Battery Modes Covered:
• Automatic E-Cigarette
• Manual E-Cigarette
On the basis of region, Europe has been observed as the largest Electronic Cigarette market, globally. Majority of the revenues can be attributed to the U.K., France, and Russian markets. The level of Electronic Cigarette usage is increasing across the region, where according to the European Union (EU), one in seven traditional cigarette smokers classify themselves as current Electronic Cigarette smokers.
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List of Tables
1 Global Electronic Cigarette Market Outlook, By Region (2016-2026) ($MN)
2 Global Electronic Cigarette Market Outlook, By Product (2016-2026) ($MN)
3 Global Electronic Cigarette Market Outlook, By Cig-A-Like (2016-2026) ($MN)
4 Global Electronic Cigarette Market Outlook, By Disposable (2016-2026) ($MN)
5 Global Electronic Cigarette Market Outlook, By Rechargeable (2016-2026) ($MN)
6 Global Electronic Cigarette Market Outlook, By Completely Disposable Model (2016-2026) ($MN)
7 Global Electronic Cigarette Market Outlook, By Modular (2016-2026) ($MN)
8 Global Electronic Cigarette Market Outlook, By Next-Generation (2016-2026) ($MN)
9 Global Electronic Cigarette Market Outlook, By Personalized Vaporizer (2016-2026) ($MN)