E-Cigarettes & Vaporizer Market- by product type (Disposable E-Cigarette, Rechargeable E-Cigarette, Ego and Tanks, Personal Vaporizers And Mods and Others), region (North America, Europe, Asia Pacific and Others) - Forecast to 2021
Pune, India -- (SBWIRE) -- 03/28/2018 -- Market Overview:
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.
Global E-Cigarettes & Vaporizer Market is growing with the rapid pace; mainly due to the evolving Consequences of smoking. According to a recent study report published by the Market Research Future, The global E-Cigarettes & Vaporizer Market is booming and expected to gain prominence over the forecast period. The global E-Cigarettes & Vaporizer market is expected to grow at a CAGR over 25% over the period of 2016 to 2021.
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.
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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.
Major Key Players:
Characterized by the presence of several well-established and small players, the global Market of E-Cigarettes & Vaporizer appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. The Key players operating in the market, compete based on pricing, product differentiations delivery time and services. The market is flooding with E-Cigarettes & Vaporizer of different styles, colours and sizes to suit the individual taste. These marketers also offer a wide range of premium nicotine free and standard e-juices or e-liquids which come in a variety of blends and strengths with quality flavours and ingredients to satisfy nicotine cravings. Key Players operating in the market strive to develop the unrivalled design and features, and that can reflect the exclusivity and luxury nature of a cigarette.
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Marketers employ a continuous improvement strategy to analyze and update products, implementing improvements and launching new technologies to meet the changing needs of consumer. These Key Players are investing heavily in research and development projects and to develop state-of-the-art equipment, facilities, advanced technology and processes.
The Global e-Cigarette & Vaporizer Market is segmented in to 2 dynamics for the convenience of the report and enhanced understanding.
Segmentation By Product Type: Comprises Disposable E-Cigarette, Rechargeable E-Cigarette, EGO and Tanks, Personal Vaporizers and Mods and Others.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Disposable e-cigarettes have accounted for the largest market size by product type in 2015 accounting for nearly 30% of the market size closely followed by rechargeable e-cigarette.
Personal vaporizers will grow at a CAGR over 23.5% through the forecast period
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Globally, North America is accounting for more than 45 % market share and thus is the largest market of E-Cigarettes & Vaporizer in the world. North America, with U.S. being the largest consumers in the world will dominate the market throughout the forecast period; whereas Europe will closely follow. 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. Globally, the North America region accounted for the largest market share in E-Cigarettes & Vaporizer followed by Europe. Growing awareness about the ill-effects of tobacco coupled with consumers' preference for e-cigarette over conventional cigarette out of their will to quit tobacco has driven the market in North America and Europe over the past few years. 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.