E-Cigarettes & Vaporizer Market:
E-Cigarettes & Vaporizers are devices that vaporize liquid containing nicotine, as well as varying compositions of flavourings, propylene glycol, glycerine, and other ingredients. The liquid is heated into an aerosol that the user inhales. Many E-Cigarettes & Vaporizers are designed to look like conventional cigarettes, cigars, or pipes. Some resemble pens or other everyday items. Larger devices such as tank systems or mods bear little or no resemblance to cigarettes. These devices are said to have minimized a significant expenses of a hard core smoker and all of vaporizers, electronic cigarettes, accessories, and batteries are eco-friendly and recyclable.
Although there are no major side effects known, a very few of customers have reported with the allergic symptoms to PG which simply causes some irritation in the throat. All known side effects are typically associated with cigarette withdraw and not with E-Cigarettes & Vaporizer devices. These negligible side effects coupled with factors such as, increasing incidents of e-liquid poisoning, uncertain regulatory framework and the high costs associated with these devices may hamper the market growth during the projected period.
E-Cigarettes & Vaporizer Market is majorly driven by the factors such as the presence of established brands, cost-effectiveness, perceived health benefits, and product customizations. Globally, the consumption of tobacco has become a critical issue despite of several government initiatives to increase the awareness about the health issues caused by consuming tobacco. Consumers addicted to tobacco find it difficult to get rid of the addiction and would require an alternate to tobacco. This has turned out to be one of the major drivers for the growth of the E-Cigarettes and vaporizer market globally. Alarming health issues caused due to the addiction of tobacco is the main driver to promote growth in the market. Growing number of cancer patients due to excessive consumption of tobacco worldwide is one of the major reasons that prompted the addicts to get rid of it. However, several people find it difficult to succeed to do so and hence prefer e-cigarette over conventional cigarettes this in turn has resulted in to people switching from conventional cigarettes to e-cigarettes over the past couple of years.
Competitive Analysis: Companies are in the process of capturing & solidifying their share of the market segment, by competing and experimenting with various advantage points. The entry of new industry players in the segment has initiated a trend of volume-driven growth that has been observed to intensify with the addition of new and advanced products. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. Few of the major players in Global E-Cigarettes & Vaporizer Market include Dash Vapes, Hubbly Bubbly, Liquideu, Uff Ecig, Simple Vape Co., Nice Vapor and Pacific Smoke International. Growing awareness about ill-effects of tobacco together with consumers’ rising preference for e-cigarette over conventional cigarettes to quit tobacco has driven the market in North America and Europe over the past few years.
Latest Industry News: Nov 2017 Aurora Cannabis Inc. and Namaste Technologies Inc are pleased to announce that the Companies have commenced sales through Aurora`s website and mobile application under the Exclusive Hardware Supply Agreement. As per the Agreement, Aurora is now offering a range of high-quality vaporizers to its medical patients through the Company`s online platform. Commencement of sales under this agreement represents a significant milestone for Namaste in aligning itself with one of the industry`s leading Licensed Producers. In turn, through the collaboration, Aurora is broadening its product offering.
Dec 2017 Juul Labs, a San Francisco-based company is raising $150 million in its first financing as an independent company. They have already reeled in $111.5 million from 23 investors, according to a filing with the SEC. Juul Labs had quietly spun out of vaping company Pax Labs and has quickly catapulted up the charts to become the top e-cigarette producer on the market.
Jan 2018 KT&G has officially released its first heat-not-burn tobacco product, also called e-cigarette, Lil, after months of planning. The local cigarette maker is expected to be engaged in heated competition with Philip Morris International (PMI) and British American Tobacco (BAT), which have already introduced their own HNB e-cigarettes; IQOS and glow, respectively, earlier this year.
Regional Analysis: Currently, North America is the largest consumer of E-Cigarettes & Vaporizer in the world market. It is closely followed by Europe. Although, China began as the first market for E-Cigarettes & Vaporizer, the U.S. and developed markets from Europe became the prime consumers of E-Cigarettes & Vaporizer, due to which these two regions collectively account for over 80% of the world market. APAC will be growing at the fastest CAGR, accounting for more than 20% of the global e-cigarette market value by 2021. Significant revenue flow will be observed from China and India over the forecast period.
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