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European E-Cigarette and Vaporizer Device and Aftermarket Analysis and Forecast 2016-2025

Rechargeable e-cigarette kits are one of the prevalent e-cigarette types in the European e-cigarette market and are expected to grow over $1.98 billion by 2025 at a double digit CAGR from 2015-2025.

SKU: VE07
Published Year: 2016
 
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Combustible cigarettes continue to propel the tobacco industry with increasing revenue at a global level.  Although, the smoking population has been declining since 2010, the per capita consumption and consequentially the count of cigarettes remain constant, if not increasing. E-cigarettes or Electronic cigarette are electronically operated devices, designed to imitate the look and feel of conventional cigarettes. Developed in 2003, the market started gaining traction commercially in 2012 and the devices since then have transitioned through three generations of product innovation. While e-cigarettes were perceived to challenge the combustible cigarette market, the entry of Big Tobacco converted the competition into alliance.

The report on ‘The Europe E-cigarette and Vaporizer Device and Aftermarket’ is a meticulous compilation of the various facets of the e-cigarette industry. After a thorough analysis of the current trends, the market dynamic chapter includes the key push and pull forces prevailing in the European e-cigarette market. Owing to the dependency of the market growth on the legal and regulatory framework, the report at each step has considered the effect of laws (both implemented and anticipated) in terms of regulations and taxation in estimation and forecast of the market size. Moreover, the key consortiums and compliance influencing the e-cigarette market in the country have also been included in the report. 

Big Tobacco companies started competing aggressively acquiring the top e-cigarettes brands and rolled out their own brands with newer and technologically advanced products. Moreover, a few companies also got involved in legal battle over patents, in order to maintain their market positions. Having identified the fluctuating landscape in the European market, the competitive insights chapter lays special emphasis on the key strategies and developments including the prominent acquisitions, product developments, partnership, business expansion, and lawsuits among others. The products of the top e-cigarette brands have been benchmarked on the basis of factors such as performance, efficiency, global presence, and battery life among others.

The e-cigarette market is anticipated to grow amidst ongoing legal fluctuations and varying vaping preferences. Moreover, the product choices might differ in the future owing to the hefty taxations that are anticipated on both device and e-liquid (the liquid which converts into vapor). Therefore, the European e-cigarette market estimation and forecast has been initiated with an exhaustive set of assumptions, following which are the key trends and market size information for both device and components. The market has been further estimated and forecast based on the prevalent distribution channel, i.e. online and retail and by the source of origin. 

The report involves a mix of 50+ companies chosen on the basis of their market developments, revenue generation and market share in the industry. The companies profiled in the report include Altria, Imperial Tobacco, Japan Tobacco, EdSylver, J Well, Nicare, and red-kiwi among others.

Key Questions answered in the report:
•    How will the market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
•    Which factors are currently impacting the market and how will the impact change through the forecast period?
•    What factors are currently challenging the European e-cigarette market and how can they be addressed through the forecast period?
•    What are the prevalent e-cigarette product types and what is the market size for each of them?
•    How will the aftermarket (e-liquid, atomizers, and battery) grow in the next ten years?
•    Which consortiums are active in the European e-cigarette market?
•    How are the regulatory bodies such as the Food and Drug Administration (FDA) and Medicines and Healthcare Products Regulatory Agency (MHRA) participating in the industry?
•    Which compliances and certifications are necessary to make a product acceptable among the users (especially the first time vapers)?
•    Which country is leading the European e-cigarette market?
•    How will the competitive rivalry in the region evolve through the forecast period?
•    Who are the key players in the European e-cigarette market? 

TABLE OF CONTENT
Executive Summary
1 Research Scope and Methodology
1.1 Scope of the Report
1.2 The European E-cigarette and Vaporizer Market Research Methodology
1.2.1 Primary Data Sources
1.2.2 Secondary Data Sources
2 Market Dynamics
2.1 Market Drivers
2.1.1 Product Innovation
2.1.2 Cost Effectiveness
2.1.3 Lookout for Tobacco Alternatives
2.1.4 Diversity of Distribution Channels and Emergence of Vape Shops
2.2 Market Challenges
2.2.1 Lack of clinical research initiative
2.2.2 Entry of Tobacco Giants
2.2.3 Stringent Government Policies
2.2.3.1 Public derivatives Related to Ban on E-Cigarette
2.2.3.2 E-cigarette to be Treated as a Medical Device
2.2.4 Increasing number of reported adverse events
3 Competitive Insights
3.1 Key Strategies and Developments
3.1.1 Mergers and Acquisitions
3.1.2 Product Development And Launch
3.1.3 Partnerships, Joint Ventures, and Collaborations
3.1.4 Business Expansion
3.1.5 Lawsuits
3.1.6 Events
3.2 Industry Attractiveness
3.3 Product Benchmarking of Popular E-cigarette Brands in Europe
4 Consortium, Alliances and Regulatory Bodies
4.1 Consortium
4.1.1 Association Française de Normalisation (AFNOR) – FRANCE
4.1.2 British Medical Association- UK
4.1.3 Electronic Cigarette Industry Trade Association (ECITA) – UK
4.1.4 European Union Tobacco Product Derivative(EU TPD)
4.1.5 Russian Health Ministry
4.1.6 The National Inter-professional and Technical Tobacco Association – France
4.1.7 Tobacco Vapour Electronic Cigarette Association (TVECA)
4.2 Regulatory Bodies
4.2.1 The Medicines And Healthcare Products Regulatory Agency (MHRA)- UK
4.2.2 World Health Organization
4.3 Alliances
4.3.1 Framework Convention Alliance (FCA)
4.3.2 The Action on Smoking Health-Scotland
4.3.3 The European Public Health Alliance
4.3.4 The New Nicotine Alliance
4.3.5 Tobacco Manufactures Association (TMA)
4.3.6 Tobacco Retailer Alliance
4.4 Country-Wise Regulation of E-cigarette in Europe
5 The European E-cigarette and Vaporizer Device and Aftermarket Analysis and Forecast
5.1 Assumptions for Analysis and Forecast of the European E-cigarette and Vaporizer Market
5.2 Market Overview
5.3 The European E-cigarette Device Market by Product Type
5.3.1 Disposable E-cigarette
5.3.2 Rechargeable E-cigarette
5.3.3 VTMs (Vaporizers, Tanks, and Mods)
5.3.3.1 Advanced Personal Vaporizers and Mods
5.3.4 EGos and Tanks
5.4 The European E-cigarette and Vaporizer Aftermarket (Component Parts), Analysis & Forecast
5.4.1 E-Liquids
5.4.1.1 Pre-Filled E-Liquids
5.4.1.2 Bottled E-Liquid
5.4.2 Atomizers
5.4.3 Batteries
5.4.4 Other Components
5.4.4.1 Cartomizers
5.4.4.2 Clearomizer
6 The European E-cigarette Market Analysis & Forecast by Source of Origin
6.1 Market Overview
6.2 Imported E-Liquid
6.3 Local
7 The European E-cigarette Market Analysis and Forecast by Distribution Channels
7.1 Market overview
7.2 Online Distribution Channel
7.3 Retail Distribution Channel
8 E-Cigarette Market Analysis by Key Countries
8.1 Market Overview
8.2 UK
8.3 Germany
8.4 Italy
8.5 Russia
8.6 France
8.7 Other European Countries
9 Company Profiles
9.1 Altria Group, INC.
9.1.1 Altria group, Inc. Summary
9.1.2 E-Cigarette Brands
9.1.2.1 Mark Ten
9.1.2.2 Green Smoke LLC
9.1.3 Financials
9.1.3.1 Financial Summary
9.1.4 Altria SWOT Analysis
9.2 British American Tobacco Plc (BAT)
9.2.1 British American Tobacco PLC. Summary
9.2.2 Nicoventures Ltd.
9.2.2.1 VYPE Electronic Cigarettes
9.2.2.2 Voke Nicotine Inhaler
9.2.3 Financials
9.2.3.1 Financial Summary
9.2.4 British American Tobacco SWOT Analysis
9.3 Cigartex
9.3.1 Cigartex Summary
9.4 Electronic Cigarettes International Group
9.4.1 Electronic Cigarettes International Group (ECIG) Summary
9.4.2 E-Cigarette Brands
9.4.2.1 Vapestick
9.4.2.2 FIN Branding
9.4.2.3 VIP
9.4.2.4 Victory E-Cigarette
9.4.3 Financials
9.4.3.1 Financial Summary
9.4.4 ECIG SWOT Analysis
9.5 EdSylver
9.5.1 EdSylver Summary
9.6 Elgarette
9.6.1 Elgarette Summary
9.7 Imperial Tobacco Group Plc
9.7.1 Imperial Tobacco Group Plc Summary
9.7.2 Fontem Ventures Summary
9.7.2.1 Puritane
9.7.2.2 Blu Ecigs
9.7.3 Financials
9.7.3.1 Financial Summary
9.7.4 Imperial Tobacco Group Plc SWOT Analysis
9.8 J Well
9.8.1 J Well Summary
9.9 Nicare
9.9.1 Nicare Summary
9.1 Ovale
9.10.1 Ovale Summary
9.11 Philip Morris International Inc. (PMI)
9.11.1 Philip Morris International Inc. (PMI) Summary
9.11.1.1 Marlboro IQOS E-cigarette
9.11.1.2 Nicocigs
9.11.2 Financials
9.11.2.1 Financial Summary
9.11.3 Philip Morris International Inc SWOT Analysis.
9.12 Puff Cigarette
9.12.1 Puff Cigarette Summary
9.13 Red kiwi
9.13.1 Red Kiwi Summary
9.14 Reynolds American Inc. (RAI)
9.14.1 Company Overview
9.14.1.1 VUSE Electronic Cigarettes
9.14.2 Financials
9.14.2.1 Financial Summary
9.14.3 Reynolds American Inc Swot Analysis
9.15 Vape 4 me
9.15.1 Vape 4 me Summary
9.16 Vapor Corp.
9.16.1 VaporCorp. Summary
9.16.2 Financials
9.16.2.1 Financial Summary
9.16.3 VaporCorp. Swot Analysis
9.17 Vinirette
9.17.1 Vinirette Summary
9.18 Vivid
9.18.1 Vivid Summary
9.19 V-Revolution
9.19.1 V-Revolution Summary
List of Tables
Table 3.1  Merger & Acquisition in European E-cigarette Market (2013-16)
Table 3.2  Key Product Launches in the European E-cigarette Market
Table 3.3  Key Collaborations of European E-cigarette Market
Table 3.4  Key Expansions in European E-cigarette Market
Table 3.5  Key Lawsuits in European E-cigarette Market
Table 3.6  Events in the European E-cigarette Market
Table 4.1  Country-wise Regulations on the Usage of E-cigarette in Europe
Table 5.2  The European E-cigarette Device Market by Product Type, 2015-2025
Table 5.3  List of Disposable E-cigarette market players with Average Cost
Table 5.4  List of Rechargeable E-cigarette market players with Average Cost
Table 5.5  List of VPs & MODs Market Players and Their Average Cost
Table 5.6  Total European Aftermarket
Table 5.7  Market players of E-Liquid with Avg. Price
Table 5.8  E-liquid by type
Table 5.9  Total European E-liquid Market by Source of Origin
Table 5.10  European E-Liquid Market by Distribution Channels
Table 5.12  Total Atomizer Market
Table 5.13  Total Battery Market
Table 6.1  Total European E-cigarette Market by Source of Origin
Table 7.1   Total European E-cigarette Market by Distribution Channels
Table 7.2  Total European E-cigarette Market by Retail Distribution Channels
Table 8.1   Total European E-cigarette and Vaporizer Market
Table 8.2  European Countries & E-cigarette regulations
List of Figures
Figure 1  European Smoking Population Trend
Figure 2  The European E-Cigarette Market Size (%) by Device Type, 2015 and 2025
Figure 3  The European E-cigaretteMarket Size (%) by Components, 2015 and 2025
Figure 4  European E-cigaretteMarket by Distribution Channel
Figure 1.1  The European E-cigarette and Vaporizer Market Scope
Figure 1.2  Bottom Approach for Market Estimation
Figure 2.1  The European E-cigaretteMarket Drivers & Challenges
Figure 3.1  Impact of the Porter’s Five Forces for the European E-cigarette Market
Figure 3.2 Product Benchmarking for European E-cigarette Market
Figure 4.1  List of BMA Committee
Figure 4.2  Key objectives of ECITA
Figure 4.3  EU TPD Regulations
Figure 4.4  Major Areas focused by ANITTA
Figure 4.5  MHRA Responsibilities
Figure 4.6  Responsibilities of TVECA
Figure 4.7  Main centres of MHRA
Figure 4.8  Advantages of FCTC
Figure 4.9  Principles, Regulations and Policies for NCP
Figure 4.10  NNA Guidelines
Figure 4.11  Issues Solved by Tra
Figure 4.12  Enacted and Proposed Vapour Excise Taxes in Europe
Figure 5.1  The European E-cigarette Device and Aftermarket Value ($ Billion), 2015 and 2025
Figure 5.2  The European E-cigarette Device Market Size (%), 2015 and 2025
Figure 5.3  Pros and Cons of Disposable E-cigarette
Figure 5.4  Pros and Cons of Rechargeable E-cigarette
Figure 5.5  Pros and Cons of PV and Mods
Figure 5.6  Pros and Cons of Egos and Tanks
Figure 5.7  The European E-cigarette Aftermarket Value ($ Billion): 2015 and 2025
Figure 5.8  The European E-Liquid Types Market Value ($ Million): 2015 and 2025
Figure 5.9  Advantages and Disadvantages of Pre-Filled E-Liquid
Figure 5.10  Advantages and Disadvantages of Bottled E-Liquid
Figure 5.11  The European E-Liquid Market Value ($ Billion) by Source of Origin: 2015 and 2025
Figure 5.12  The European E-Liquid Market Value ($ Billion) by Distribution Channel: 2015 and 2025
Figure 5.13  The European Atomizer Market ($ Million): 2015 and 2025
Figure 5.14  The European Battery Market ($ Million): 2015 and 2025
Figure 6.1  The European E-cigarette Market ($ Million) by Source of Origin: 2015 and 2025
Figure 7.1  The European E-cigarette Market ($ Billion) by Distribution Channel: 2015 and 2025
Figure 7.2  Advantages of Online Distribution Channel
Figure 7.3  The European E-cigarette Market ($ Billion) by Retail Distribution Channel: 2015 and 2025
Figure 8.1  The European E-cigarette and Vaporizer Market ($ Billion): 2015 and 2025
Figure 9.1  Altria Group, Inc.: Overall Financials, 2013-2015 ($ Billion)
Figure 9.2   Altria Group, Inc.: Net Revenue By Business Segment,2013-2015 ($Million)
Figure 9.3    British American Tobacco Plc (Bat): Overall Financials ($Billion); 2012-2014
Figure 9.4   British American Tobacco Plc (BAT): Geography Revenue Mix ($Billion);2012-2014
Figure9.5   ECIG: Overall Financials ($Million); 2013-15
Figure 9.6   Imperial Tobacco Group Plc: Overall Financials ($ Billion),2013-2015
Figure 9.7 Imperial Tobacco Group Plc: Geography Revenue Mix ($ Billion),2013-2015
Figure 9.8   Phillip Morris International Inc. (PMI): Overall Financials ($ Billion) 2013-2015
Figure 9.9   Philip Morris International Inc. (PMI): GEOGRAPHY REVENUE MIX ($ Billion);2013-2015
Figure 9.10 Reynolds American Inc. (RAI): Overall Financials,($Billion); 2013- 2015
Figure 9.11 VaporCorp.: Overall Financials ($million); 2013-2015

The European region is home to countries with some of the highest smoking populations globally; however, the number of conventional cigarette users has been declining since 2010. The issues related to the tobacco consumption in the European market have become less critical, because of the determinable health effects caused due to tobacco consumption and the taxes being levied on tobacco related products. In response to such cause, several health organizations and pharmaceutical companies are working on efficient and scientifically proven smoking cessation products such as nicotine gums and patches. The following figure represents the declining smoking population against the increasing European population:

European Smoking Population Trend
 
European Smoking Population Trend

 BIS Research Analysis

Europe being one of the largest markets in the e-cigarette industry is home to contradictory regulatory regimes. In most of the member countries, there are strict rules towards the consumption and sale of e-cigarettes and in some countries, such as Greece and Bulgaria among others, e-cigarettes are prohibited. The number of e-cigarette users in UK is increasing, however, the Department of Health states that e-cigarettes are not risk free and new measures are to be introduced by the Medicines and Healthcare Products Regulatory Agency in 2016. Moreover, the e-cigarette and vaporizer industry are subject to different regulatory frameworks across different European countries. Some of the European regions are banning sale and consumption of e-cigarettes, one of the reasons being the lack of regulations on the nicotine content present in e-cigarette and e-liquids being unintentionally filled at a higher dose, leading to certain diseases or nicotine poising. 

Rechargeable e-cigarette kits are one of the prevalent e-cigarette types in the European e-cigarette market and are expected to grow over $1.98 billion by 2025 at a doubled digit CAGR from 2015-2025. The market will observe a reduction of growth in the next few years, as most of the regulatory and policy framework will fall into place. The following figure represents the change in the markets share of the prevalent e-cigarette types for 2015 and 2025:

The European E-Cigarette Market Share (%) by Device Type, 2015 and 2025  
The European E-Cigarette Market Share (%) by Device Type, 2015 and 2025

BIS Research Analysis

There are series of laws and regulations being imposed for manufacturing, sale, usage, distribution, advertising, and marketing of e-cigarette and e-liquid in the European regions. The market share of disposable e-cigarettes will continue to decline in the next ten years, whereas, the share of VTMs will increase up to 65% by the end of forecast year.

The e-cigarette market became further fragmented since early 2015 with the aftermarket entering into the industry. The aftermarket primarily constitutes of the e-liquid, atomizers, and batteries. With the increase in the sale of e-liquid (both bottled and pre-filled), there has been a rise in the number of e-liquid players as well. The bottled e-liquid is expected to grow over $XX billion by 2025 with a CAGR of XX%, whereas the pre-filled e-liquid is expected to grow over $XX billion b 2025 with a CAGR of XX% through the forecast period.

The number of distribution channels present in the European e-cigarette industry gives market players the scope to expand both locally and globally through retail and online channels. Several developments are taking place in the market wherein the companies aim at either supplying their products through different retail channels or by opening new stores in Europe and outside. One of the key drivers for the e-cigarette market is the ease of access to the distribution channels. Particularly in the online distribution channel, most of the key players operate via online supermarkets and e-commerce website.

At a global scale, the European e-cigarette market has an upper hand within the industry because of the series of mergers and acquisitions taking place with the big tobacco giants and others.  With the participation of the big tobacco companies and through different modes of distribution channels, the e-cigarette industry is expanding since the year 2012 at a global level.

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