E-cigarette and Vape Market Scope
E-cigarettes are sometimes called “e-cigs,” “vapes,” “e-hookahs,” “vape pens,” and “electronic nicotine delivery systems (ENDS).” Some e-cigarettes look like regular cigarettes, cigars, or pipes. Some look like USB flash drives, pens, and other everyday items. Using an e-cigarette can help you manage your nicotine cravings. E-cigarettes have the potential to benefit some people and harm others, but scientists still have a lot to learn about whether e-cigarettes are effective in helping adults quit smoking. Vaping is still not secure. The market acceptance of these products has been further encouraged by their affordability many of the flavorings and moisturizers found in e-liquid have been licensed by F&D management, but they haven't been approved for inhalation, which may result in serious health issues for consumers. Side effects of e-cigarette use, such as vomiting, coughing, lung damage, and slow brain development, are potential roadblocks to the market's overall growth.
|Unit||Value (USD Million)|
|Key Companies Profiled||Altria Group, Inc.(United States), British American Tobacco (United Kingdom), Imperial Brands (United Kingdom), International Vapor Group (United States), Japan Tobacco Inc. (Switzerland), NicQuid (United States), JUUL Labs, Inc. (United States), Philip Morris International Inc. (United States), R.J. Reynolds Vapor Company (United States), Shenzhen IVPS Technology Co, Ltd. (China) and Shenzhen KangerTech Technology Co., Ltd. (China)|
The increasing number of health-conscious consumers worldwide, major players are adopting several strategies to draw consumers’ attention by introducing products with new technological advancements. Increasing firm concentration ratio and advertising expenses by companies are also strengthening the competition. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge
Altria Group, Inc.(United States), British American Tobacco (United Kingdom), Imperial Brands (United Kingdom), International Vapor Group (United States), Japan Tobacco Inc. (Switzerland), NicQuid (United States), JUUL Labs, Inc. (United States), Philip Morris International Inc. (United States), R.J. Reynolds Vapor Company (United States), Shenzhen IVPS Technology Co, Ltd. (China) and Shenzhen KangerTech Technology Co., Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are NJOY Inc (United States), Reynolds American Inc. (United States) and ITC Limited (India).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global E-cigarette and Vape market by Type and Region with country level break-up.
On the basis of geography, the market of E-cigarette and Vape has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn September 2022, Reynolds American Inc. was purchased by British American Tobacco PLC (BAT), an American-British multinational cigarette and tobacco manufacturing business, for USD 49 billion. The acquisition helped BAT establish a reliable foothold in developed countries with high rates of profitability and high rates of growth in those markets. American tobacco business Reynolds American Inc. produces both traditional cigarettes and e-cigarettes
In August 2021, Philip Morris International Inc. announced the launch of IQOS ILUMA in Japan. The new IQOS ILUMA became the brand’s first tobacco-heating system to introduce induction-heating technology, which utilizes no blade and requires no cleaning. and In July 2021, Japan Tobacco Inc. launched Ploom X, its next-generation heated tobacco device. Ploom X is made available across Japan, including convenience stores and select tobacco retail stores.
Influencing Trend:Growing popularity of vaping devices with various flavors and fragrances
Market Growth Drivers:Growing awareness and switching of the population from tobacco to e-cigarettes
Challenges:Risks associated with high consumption leading to lung cancer
Restraints:A lack of standardization of devices
Opportunities:Demand in youngsters coupled with increasing sales through online channels
Key Target AudienceE-cigarette and vape Manufacturers, Producers, and Distributors, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End User Industry and Others