San Francisco, 14 November 2018 , The global e-cigarette and vaping market size is projected to reach USD 47.11
billion by 2025, according to a new study by Grand View Research, Inc.,
expanding at a CAGR of 23.8% during the forecast period. Burgeoning popularity
of these products among young generation is expected to drive the market over
the forecast period.
Vaping is considered to be an effective
method to quit smoking, as it is less toxic and creates vapor instead of smoke.
Rising awareness of consuming safe, smokeless, and ash less tobacco is
estimated to propel the market. Its adoption is estimated to increase,
particularly among individuals willing to quit smoking or willing to smoke
merely for recreation. Launch of new and innovative vaping devices is also
anticipated to foster the adoption of these devices.
Rising concerns regarding conventional
cigarettes among various age groups is boosting the demand for e-cigarettes.
Several E-liquid flavors are being launched in the market to cater to changing
preferences of individuals, thereby stimulating market growth all over the
world. However, e-cigarettes are often compared to conventional cigarettes and
hence tend to attract criticism, a factor that is expected to restrain the
growth of the market.
Several agencies have been calling for
setting standards for vaping devices in order to encourage people to opt for a
safer alternative to smoking. Long-term studies undertaken by various medical
associations have helped determine that e-cigarettes can be considered as a
safer substitute to conventional cigarettes. However, various governments have
banned sales and distribution of e-cigarettes, which is likely to limit the
growth of the market.
The global arena comprises major tobacco
companies that control a large share of the global market. These players are
venturing into e-cigarette space with new and innovative products under their
brand name. On the other hand, there also exist various smaller players in the
industry that develop efficient vapor products. Moreover, market incumbents are
also investing in new product development and introducing innovative products.
Full Research Report On E-Cigarette And Vaping Market Analysis:
www.grandviewresearch.com/industry-analysis/e-cigarette-vaping-market
www.grandviewresearch.com/industry-analysis/e-cigarette-vaping-market
Further key findings from the study suggest:
·
Modular device is expected to be the
fastest growing segment, rising at a CAGR of 24.9% over the forecast period.
Modular devices allow their users to adjust vapor output according to their
preference.
·
E-liquid is expected to exhibit the highest
CAGR of 26.7%. Growing popularity of DIY e-liquid is anticipated to contribute
to the growth of the segment
·
Online platforms are emerging as a popular
medium for sales of vapor products. Vendors are using social media applications
such as Instagram, WhatsApp, and Facebookto promote their vaping devices
·
North America accounted for the largest
share in the market in terms of revenue and is estimated to reach USD 20.49
billion by 2025. North America is home to prominent players, such as Altria
Group, Inc. and Philip Morris International Inc., which command a significant
share of the market
·
Key industry participants include Altria
Group, Inc.; British American Tobacco; Imperial Brands; International Vapor
Group; Japan Tobacco International; NicQuid; Philip Morris International Inc.;
R.J. Reynolds Vapor Company; Shenzhen IVPS Technology Co., Ltd.; and Shenzhen
KangerTech Technology Co.; Ltd.
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More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global e-cigarette and vaping
market based on product, component, distribution channel, and regions:
E-Cigarette and Vaping Product Outlook
(Revenue, USD Million, 2014 - 2025)
·
Disposable
·
Rechargeable
·
Modular Devices
E-Cigarette and Vaping Component Outlook
(Revenue, USD Million, 2014 - 2025)
·
Atomizer
·
Method of Delivery (MOD)
·
Cartomizer
·
E-liquid
E-Cigarette and Vaping Distribution Channel
Outlook (Revenue, USD Million, 2014 - 2025)
·
Online
·
Retail
E-Cigarette and Vaping Regional Outlook
(Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
·
MEA
Access Full
Press Release of this Report:
www.grandviewresearch.com/press-release/global-e-cigarette-vaping-market
www.grandviewresearch.com/press-release/global-e-cigarette-vaping-market
About Grand View Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com/
