LONDON, March 28, 2017 /PRNewswire/ -- Despite the presence of large number of smokers in the region, the e-cigarette and vaporizer market in APAC is at a nascent stage, with a large percentage of the popular still oblivious of the product. Consortiums and associations are playing a crucial rule in increasing market penetration by promoting public education campaigns to highlight the benefits of vapor products for adult smokers and familiarize them with new products in the market and their advantages. The prominent consortiums discussed in this segment are Asian Vape Association (AVA), Fact Asia, Malaysia E-Vaporizer and Tobacco Alternatives Association (MEVTA), and Philippine E-cigarette Industry Association (PECIA) among others.
With a slack regulatory regime and deep seated smoking habit entrenched in majority of its population, APAC has massive potential to turn into the hub for e-cigarettes and related products. The report on the 'APAC E-cigarette Device and Aftermarket' is a meticulous compilation of the various facets of the e-cigarette and vaporizer industry. After a thorough analysis of the current trends, the market dynamic chapter includes the key push and pull forces prevailing in the APAC e-cigarette device and aftermarket. Owing to the dependency of the market growth on the legal and regulatory framework, the report at each step has considered the effect of laws (both implemented and anticipated) in terms of regulations and taxation in estimation and forecast of the market size. Moreover, the key consortiums and compliance influencing the e-cigarette and e-liquid market across the continent have also been included in the report.
The report involves a mix of 25+ companies chosen on the basis of their market developments, revenue generation and market share in the industry. The companies profiled in the report include Just Fog, Innokin, ITC, Kimree, First Union and Joyetech among others.
Key Questions answered in the report:
- How will the key market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
- How will the intensity of competitive rivalry evolve through the forecast period?
- Which factors will be driving the market through the forecast period?
- What factors are currently challenging the APAC e-cigarette device and aftermarket and how can they be addressed through the forecast period?
- Which consortiums are active in the market?
- Which compliances and certifications are necessary to make a product acceptable among the users (especially the first time vapers)?
- What are the prevalent e-liquid types and what is the market size for each of them?
- How will the aftermarket (e-liquid, atomizers, and battery) grow in the next ten years?
- Who are the key players in the E-liquid e-cigarette market?
With a population of more than 700 smokers, the APAC region is ranked at the top in the global tobacco consumption. The long established smoking habit in the low income residents of the region has been difficult to break and despite relentless global efforts to introduce tobacco control, China, India and Indonesia has witnessed an increasing trend in the number of smokers since 2006. Tobacco use is the leading cause of preventable mortality in the region. Of the 5.5 million people who die from smoking-related illnesses each year, half are in Asia, thus making the tobacco pandemic a major concern to all stakeholders in public health.
The APAC e-cigarette market currently valued at $XX million makes only than XX% share of the global e-cigarette market. The first commercially sold cigarette was invented in 2003 in China, by pharmacist Hon Lik, however it was only after 2012 that the market started gaining significant traction. Malaysia, with over XX million users, is the biggest market in the region, with a value of $XX million in 2015. However, the increasing bans in various states of the country may bring the recent exponential growth to a stand-still in coming years. Meanwhile, China and India, driven by their large smoking populations, are expected to grow at CAGRs of XX% and XX% respectively to turn into multibillion dollar markets for vapor products.
The market is expected to be driven by large smoking population and look out for tobacco alternatives, price sensitivity of APAC market and long term cost effectiveness of e-cigarettes and diverse distribution channels and emergence of vape shops. The ease of access to distribution channels, particularly the online channel, continues to be one of the key drivers for the market. The market players operate through tie ups with convenient stores and supermarkets in retail channels and through their own websites, online supermarkets and e-commerce websites to sell their products. The retail channel is comprised of convenience stores, vape shops, pharmacies, and tobacco shops among others.
Retail distribution channels remain the preferred channel in the current scenario with a revenue generation of $XX million in 2015, and are expected to grow at CAGR of XX% through 2015 to 2025, to remain the predominant channel throughout the forecast period
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