E-cigarettes Market Growth

Although, a large number of people still think vaping and smoking are the same, they could not be more wrong. Vaping includes e-cigarettes that instead of producing smoke as in the case tobacco cigarettes produce vape clouds. Also, e cig is healthier alternative to typical cigarettes as they do not contain the cancer-causing agent, called tar. An electronic cigarette constitutes of battery, atomizer and inhaler. They also contain an e-liquid that comes in different flavors. The e-liquid is vaped by vapers.
Over the last couple of years, electronic cigarette market has shown a tremendous growth. The industry is expanding at an amazing rate, which is especially a good news for vaping companies around the globe. A recent analysis ‘”Global E-cigarette and T-Vapor Market, Analysis and Forecast (2017-2025) (Focus on Product Segments, Distribution Channels and Country Analysis)” concluded that in 2016, the market size of e cig industry was $11.4 billion which increased to whopping $15 billion by 2017. According to the forecasts of the report, in the time period 2018-2023, e cig market will show an expansion rate of 27.3%.

The analysis sheds light on a number of facts and figures about the vaping industry. According to the analysis of e cigarettes industry, closed system vaporizers have less market share than the open tank vaporizers as open tank vaporizes had a share of 61% in the market in 2017. Disposable e cigarettes are prioritized by vapers on rechargeable e cigarettes, as the report points out.
Focusing on the geographical demand of electronic cigarettes, it has been witnessed that North American is the biggest market for e cigs. In 2017 alone, the estimated size of e cig market in North America was 5.2 billion. The three top countries for e cigarettes are: the United States, the United Kingdom and China. List of countries which are also showing a definite increase in e cigarette demand include: Germany, Russia, Italy, and Japan. The analysis also points out that during the time period of 2018-2023, Asia-Pacific region would have become the biggest consumer for electronic cigarette market.
Some of the reasons why electronic cigarettes industry is showing such growth are; offer healthier alternatives to tobacco cigarettes, chain smokers who want to quit smoking – vaping offers them a good and practical way out, and there is no concept as passive vaping – in contrast to passive smoking. The number of e-liquid flavors available and the ability to customize the vaping experience the way vapers want are also driving factors behind the growth of vaping industry. These are some of the benefits that are playing a crucial role in the expansion of this industry.  
As e cigarette industry is still new when compared to tobacco cigarette industry, there are fewer competitors in the market for now. The analysis points out that currently the market is pretty fragmented. 60% of the total vaping market share is owned by 3 of the top vaping companies. British American Tobacco takes the lead, whereas Imperial Brand and NJOY follow it closely. Needless to say, e-cigarette industry is on the boom.

Leave a Reply