Albany, NY -- (SBWire) -- 03/17/2015 --Electronic cigarettes (e-cigarettes) are battery-operated electronic devices that are designed in such a way that they can simulate traditional, combustible cigarettes. The major distinguishing factor between e-cigarettes and traditional cigarettes is the absence of tobacco in e-cigarettes. E-cigarettes operate by heating a mix of nicotine and other chemicals, leading to the vaporization of the nicotine that can be inhaled.
Logic and scientific studies state that nicotine alone is not responsible for cancer. It is the smoke and numerous other chemicals in tobacco that lead to cancer and other smoking-related diseases. E-cigarettes thus promise to be a healthier alternative to smoking. However, their current position in the market is a bit uncertain.
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The lack of proper research and analysis about the effect of e-cigarettes on human health, the definite extent and nature of the e-cigarettes market makes it quite an improbable entity for the current market place. Another factor that makes the stance of e-cigarettes questionable is the role of the tobacco industry in the manufacture and promotion of these products, while also continuing to sell conventional products.
Global market research experts, however, project the global e-cigarettes market to be worth approximately US$2 billion currently. In the year 2013, the global e-cigarettes market reportedly increased by more than 300%. If the market continues to grow at this pace, it could easily move well ahead of US$3.5 billion by 2015
E-Cigarettes Market – Marketing Policies Questioned
Though the actual health benefits or hazards of e-cigarettes are currently unexplored, effective marketing strategies have granted e-cigarettes immense popularity in a number of countries. But, there is a need to understand the extent to which these products should be used by children (vast majority of tobacco addicts start smoking as from an early age) and young people, particularly the ones who are currently non-smokers. Linked to this fact is the concern regarding the current strategies used for marketing e-cigarettes and the question whether strategies used to market e-cigarettes may appeal to children.
The marketing of e-cigarettes has proven to be quite effective as of now. It is extensive and of a nature that may appeal children as well as adults. The e-cigarettes market employs a variety of media for promoting products, and makes use of tactics such as online promotions, celebrity endorsements, computer games, and social media platforms to publicize e-cigarettes as lifestyle products.
Though e-cigarettes are non-tobacco and non-combustible smoking devices, they are commonly referred to as cigarette alternatives. However, the WHO has not approved the use of claims or credentials that suggest reduced harm.
E-Cigarettes Market – Innovative Products in Demand
In the flourishing market of e-cigarettes, global manufacturers are bringing in innovative products to differentiate them from competitors. An instance of innovative e-cigarettes is e-cigarettes fused with Bluetooth that is compatible with iOS and Android devices to allow users to access their smartphones and tablets while smoking. Some e-cigarettes have the functionality that generates statistics about the consumption and provides information to the e-cigarette user via mobile app. Niche products such as e-cigars and e-hookahs have also appeared in the market. A variety of flavors of vaporizing liquid used in e-cigarettes is also available and garners huge demand. Sleek and elegant e-cigarette fashion accessories are also gaining popularity.
E-Cigarettes Market – Regionally Active Markets and Key Market Players
E-cigarettes first appeared in the U.S. and currently have the largest market there. The U.S. market for e-cigarettes accounts for nearly a quarter of total revenues generated by the global e-cigarettes market. The use of e-cigarettes in the U.K. market has also largely increased over the past two years. However, there are countries such as Mexico and Brazil where the use of e-cigarettes is completely banned.
The major market players operating in the global e-cigarettes market include Reynolds American, Nicotek, Vapor, British American Tobacco, Lorillard, Njoy, and Altria.
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Electronic Cigarette Market - Are Marketing Strategies Driving the Market?
Transparency Market Research Report Added "Electronic Cigarette Market" to its database.