Global $48 Bn e-Cigarette Market Analysis and Forecast 2018-2023: Major Players are British American Tobacco, Japan Tobacco, Altria, Imperial Brands and NJOY LLC
DUBLIN, March 6, 2018 /PRNewswire/ --
The " Global E-Cigarette Market Analysis and Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
Global E-Cigarette Market is Forecasted to Attain a Value of $48 Billion By 2023.
The growth in the market will be led by factors such as increasing demand for smokeless and ashless vaping and surge in the number of vape shops and designated stores.
The e-cigarette market can be broadly categorized into cig-a-like, vaporizer, vape mod, t-vapor, and aftermarket product types. The market for t-vapor is projected to witness the fastest growth, of around 60%, during the forecast period. T-vapor is comparatively a new category that uses real tobacco. T-vapor products are sold in two versions: heat-not-burn and infused. Cig-a-like can further be categorized into disposable and rechargeable types, while vaporizer can be segmented into open tank and closed system types. The aftermarket products include batteries and chargers, and cartridges.
The major channels of distribution are vape shops, supermarkets, online, and tobacconists. Among these channels, vape shops are estimated to generate the highest revenue for the e-cigarette market in 2017.
Asia-Pacific is the region offering ample growth opportunities for the vendors. Large population coupled with increasing urbanization has been propelling the demand in the region. China has been the forerunner in the regional e-cigarette industry, with an estimated 40.3% share in 2017. After the U.S. and the U.K., China is estimated to be the third largest e-cigarette market globally in 2017, which is further expected to grow during the forecast period.
On the basis of a survey conducted by the Chinese Center for Disease Control and Prevention in 2014, 45% of students aged 13-15 years had heard of e-cigarettes and 1.2% had used them in the preceding 30 days. It has been observed that for every 1% consumer shift from combustible cigarettes to its less harmful counterpart, the market for latter in the country increases by almost $5 billion. Advertisement campaigns have been educating the consumers about the benefits of switching from combustible cigarettes to its less harmful alternative, consequently driving the e-cigarette market in the country.
Competition in the e-cigarette industry is being restructured with every major merger and acquisition taking place. British American Tobacco (BAT), Japan Tobacco Inc., Altria Group, Imperial Brands, and NJOY LLC have been the major players involved in inorganic expansion. In July 2017, BAT completed the acquisition of Reynolds American Inc. to enhance its tobacco and t-vapor product portfolio. BAT has recently showed interest in acquiring the South African company Twisp to expand its next-generation product offerings in South Africa. Imperial Brands, on the other hand, acquired the U.K.-based vaping products company Nerudia to enhance its next-generation product portfolio.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Potential of E-Cigarette Industry
4.2 Definition of Market Segments
4.2.1 By Product
4.2.1.1 Cig-a-like
4.2.1.1.1 Disposable
4.2.1.1.2 Rechargeable
4.2.1.2 Vaporizer
4.2.1.2.1 Open tank
4.2.1.2.2 Closed system
4.2.1.3 Vape mod
4.2.1.4 T-vapor
4.2.1.4.1 Heat-not-burn
4.2.1.4.2 Infused
4.2.1.5 Aftermarket
4.2.1.5.1 Cartridge
4.2.1.5.2 Battery and charger
4.2.2 By Distribution Channel
4.2.2.1 Vape shops
4.2.2.2 Supermarkets
4.2.2.3 Online
4.2.2.4 Tobacconists
4.3 Value Chain Analysis
4.4 Market Dynamics
4.4.1 Trends
4.4.1.1 Change in lifestyle and preferences
4.4.1.2 Introduction of various flavors and fragrances
4.4.1.3 Growing partnerships
4.4.1.4 Sales through e-commerce
4.4.1.5 Increasing research and development in technology
4.4.1.6 Mergers and acquisitions
4.4.2 Drivers
4.4.2.1 Growing health awareness
4.4.2.2 Smokeless and ashless vaping
4.4.2.3 Increasing number of vape shops and designated stores
4.4.2.4 Product innovation and advancement in technology
4.4.2.5 Social acceptability and eco-friendliness of e-cigarettes
4.4.2.6 Impact analysis of drivers on market forecast
4.4.3 Restraints
4.4.3.1 Implementation of strict legal framework
4.4.3.2 Risk of e-cigarette use and reported incidents
4.4.3.3 Increased lobbying by pharmaceutical giants
4.4.3.4 Impact analysis of restraints on market forecast
4.4.4 Opportunities
4.4.4.1 Consumer's shift toward tobacco alternatives
4.4.4.2 Untapped market in emerging economies
4.4.4.3 Investment and franchising
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Intensity of Rivalry
4.5.5 Threat of Substitutes
Chapter 5. Global Market Size and Forecast
5.1 By Product
5.1.1 Cig-a-like Market, by Type
5.1.2 Vaporizer Market, by Type
5.1.3 T-vapor Market, by Type
5.1.4 Aftermarket Products Market, by Type
5.2 By Distribution Channel
5.3 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Product
6.1.1 Cig-a-like Market, by Type
6.1.2 Vaporizer Market, by Type
6.1.3 T-vapor Market, by Type
6.1.4 Aftermarket Products Market, by Type
6.2 By Distribution Channel
6.3 By Country
6.3.1 U.S. E-Cigarette market
6.3.1.1 By product
6.3.1.2 By distribution channel
Chapter 7. Europe Market Size and Forecast
Chapter 8. Asia-Pacific Market Size and Forecast
Chapter 9. Rest of the World Market Size and Forecast
Chapter 10. Competitive Analysis
10.1 Competitive Positioning of Global E-Cigarette Market
10.2 Market Share Analysis of Major Players
10.3 Product Benchmarking of Key Players
10.4 Global Strategic Developments of Key Players
Chapter 11. Company Profiles
- Altria Group, Inc.
- British American Tobacco PLC.
- FIN Branding Group, LLC
- Imperial Brands PLC
- International Vapor Group
- Japan Tobacco Inc.
- NJOY, LLC
- Philip Morris International Inc.
- Vapor Hub International, Inc.
- VMR Products, LLC
For more information about this report visit https://www.researchandmarkets.com/research/5q6l4q/global_48_bn?w=5
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