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Global USB Rechargeable E-Cigarette & Vaporizer Device Market - Estimation & Forecast, 2016-2025: Focus On Type, Distribution Channel & Geography

The global issue of tobacco consumption has become more critical, irrespective of the known and proven detrimental health affects its poses and the increasing taxes being levied on the same. Identifying the importance of finding alternatives to tobacco, the first e-cigarette was designed in China, back in 2003.

SKU: EC009A
Published Year: 2016
 
 

The e-cigarette industry gathered pace from 2012 onwards, when tobacco giant Lorillard acquired the U.S. based e-cigarette company, ‘Blu Ecigs‘. However, the rapidly changing dynamics of the market can be understood with the exit of the parent company of the best selling e-cigarette brand (Blu) from the market and its competitor Imperial Tobacco climbing up the ladder of this fledgling market. The Big Tobacco have started competing aggressively acquiring the top e-cigarettes brands and simultaneously rolling out their own brands with newer and technologically advanced products. Moreover, an overall non-uniformity of taxation and regulation policies has enabled a large number of players to enter the market, significantly intensifying the competitive rivalry.
 
This report is a meticulous compilation of the different aspects of the USB rechargeable and currently the dominating e-cigarette type in the industry, including the market share analysis and product benchmarking for top brands, Porter‘s five forces analysis, the consumer‘s perspective for buying e-cigarettes, market breakdown by product types, distribution channel, and key geographical locations.
 
While highlighting the key driving and restraining forces for this dynamic market the report also provides a comprehensive section of the prominent consortiums, compliance, and regulatory bodies and their involvement in the e-cigarette industry.
 
The report has laid down special emphasis on the legal and regulatory framework, owing to the changing paradigms in the industry. Where, on one hand, the state and local governments have started levying hefty taxes on e-cigarettes and e-liquids following the likes of conventional tobacco, on the other there are several consortiums identified who are opposing the proposals and wish to back e-cigarette by scientific studies.
 
The industry analysis has been included analyzing the impact of the five major forces to understand the overall attractiveness of the industry. The company profile section has been broken down into the publically traded companies and private companies. While the global companies have been chosen on the basis of their market developments and revenue generation, best-selling brands/companies have also been profiled in the report.
 
The market will witness a staggering growth until 2020, by when most of the regulatory and policy framework will fall into place. The growth rate will significantly increase thereafter, with increasing revenue generation from evolving markets of APAC and some European countries. Moreover, while disposable e-cigarettes dominated the global e-cigarette product market till 2014, USB rechargeable e-cigarettes, followed by personal vaporizers and Mods have taken over the top market positions in terms of revenue generation. The U.S. market will continue with its dominance through the forecast period, however, China is expected to grow at the fastest CAGR to become the second largest revenue generating country by the end of 2025.
 
Key highlights of the report:
 
• Estimation and forecast of the USB Rechargeable e-cigarette and vaporizer device market value through 2016-2025

•Impact of regulations and policies on the growth of the USB Rechargeable e-cigarette device market value through the forecast period (2016-2025)

•Market share analysis for the top 10 players based out of North America and Europe

•Product benchmarking for top brands based out of North America and Europe

•A detailed analysis of the potential and growth of various distribution channels, viz. online and retail, further segmented by vape shops, C-stores, and other brick-and-mortar stores

•Identification, analysis and strategic profiling of the key players operating in the global USB rechargeable e-cigarette market

•The key consortiums, regulatory bodies, compliance, and certifications existing in the e-cigarette industry

TABLE OF CONTENT
1 RESEARCH SCOPE, METHODOLOGY & DESCRIPTION
1.1 Report Scope
1.2 Market Analysis And Segmentation
1.3 Research Methodology
1.3.1 Bis Research Methodology
1.3.1.1 Secondary Research
1.3.1.2 Primary Research
1.3.2 Global E-Cigarette And Vaporizer Device Market Research Methodology
1.3.3 Assumptions And Limitations
1.4 Report Description
2 EXECUTIVE SUMMARY
3 MARKET DYNAMICS
3.1 Market Drivers
3.1.1 Divergence Of Distribution Channel And Emergence Of Vape Shops
3.1.2 The Presence And Hegemony Of Established Tobacco Players
3.1.3 Rapid Advancement In Technology And The Features Of Customization
3.2 Market Challenges
3.2.1 Unregulated Manufacturing Practices In Asian Countries
3.2.2 Increasing Number Of Reported Adverse Events
3.2.3 Lack Of Quantifiable Evidence In Favor Of E-Cigarettes
3.2.4 Hefty Taxation On E-Cigarettes And E-Liquids In The U.S. And Europe
3.2.5 Intense Lobbying Against E-Cigarettes By Pharmaceutical Companies
4 COMPETITIVE INSIGHTS
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Bargaining Power Of Suppliers
4.1.4 Presence Of Substitutes
4.1.5 Intensity Of Competitive Rivalry
4.2 Market Share Analysis For Top Usb Rechargeable E-Cigarette Players In North America And Europe
4.2.1 Market Share Analysis For North America Usb Rechargeable E-Cigarette Market
4.2.2 Market Share Analysis For European Usb Rechargeable E-Cigarette Market
4.3 Usb Rechargeable E-Cigarette Market: Product Benchmarking For North America And Europe
4.4 Consumer’s Perspective For Buying E-Cigarette
4.4.1 Electronic Cigarette Use
4.4.2 Motivation To Use
4.4.3 Perceived Harm
5 KEY CONSORTIUMS, REGULATORY BODIES, CERTIFICATION, AND COMPLIANCE
5.1 A Consortiums
5.1.1 American Public Health Association (APHA)
5.1.2 Action In Smoking & Health (ASH)
5.1.3 Asian Vape Association (AVA)
5.1.4 Canada Vaping Association (CVA)
5.1.5 Consumer Advocates For Smoke-Free Alternatives Association (CASAA)
5.1.6 Electronic Cigarette Industry Trade Association
5.1.7 Fact Asia
5.1.8 Irish Vape Vendors Association (IVVA)
5.1.9 Malaysia E-Vaporizers And Tobacco Alternatives Association
5.1.10 Philippines E-Cigarette Industry Association (PECIA)
5.1.11 Smoke Free Alternative Trade Association (SFATA)
5.1.12 Tobacco Control Legal Consortium
5.1.13 Tobacco Free Alternatives Association Of India (TFFAI)
5.1.14 Tobacco Harm Reduction Association Of Canada (THRA)
5.1.15 Tobacco Vapor Electronics Cigarette Association (TVECA)
5.2 Regulatory Bodies
5.2.1 Association Française De Normalisation (AFNOR)
5.2.2 European Comission- European Union Tobacco Product Directive (EU-TPD)
5.2.3 Food And Drug Administration (FDA)
5.2.4 Health Sciences Authority (HAS)
5.2.5 Medicines And Healthcare Products Regulatory Agency (MHRA)
5.3 Compliance And Certification
5.3.1 Conformité Européenne (CE)
5.3.2 Restriction Of Hazardous Substances (ROHS) Compliance
5.3.3 Federal Communications Commission (FCC)
5.3.4 SGS
5.3.5 Waste Electrical And Electronic Equipment Directive (WEEE) Compliance
6 GLOBAL USB RECHARGEABLE E-CIGARETTE & VAPORIZER DEVICE MARKET ESTIMATION & FORECAST BY PRODUCT TYPE
6.1 Introduction
6.1.1 Overall Market Statistics
6.2 Rechargeable Starter Kits (With Cartridges)
6.2.1 Key Players
6.3 VTMS (Vaporizers, Tanks, And Mods)
6.3.1 Key Players
7 GLOBAL USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET ESTIMATION AND FORECAST, BY DISTRIBUTION CHANNEL
7.1 Introduction
7.1.1 Market Statistics
7.2 Online Distribution Channel
7.3 Retail Distribution Channel
7.3.1 Convenience Stores (C-Stores)
7.3.2 Vape Shops
7.3.3 Others (Pharmacies, Drug Stores And Gas Stations)
7.3.4 Market Statistics
8 GLOBAL USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET ESTIMATION AND FORECAST BY GEOGRAPHY
8.1 Introduction
8.2 APAC
8.2.1 Overall Market Statistics
8.2.2 China
8.2.2.1 Market Statistics
8.2.2.2 Key Players
8.2.3 Malaysia
8.2.3.1 Market Statistics
8.2.3.2 Key Players
8.2.4 India
8.2.4.1 Market Statistics
8.2.4.2 Key Players
8.2.5 Japan
8.2.5.1 Market Statistics
8.2.5.2 Key Players
8.2.6 South Korea
8.2.6.1 Key Players
8.2.7 Australia
8.2.7.1 Key Players
8.2.8 Legal Status Of E-Cigarettes In Asia Pacific, By Country
8.3 North America
8.3.1 Overall Market Statistics
8.3.2 The U.S.
8.3.2.1 U.S. E-Cigarette And Vaporizer Market Legal And Regulatory Framweork
8.3.2.2 Market Statistics
8.3.2.3 Key Players
8.3.3 Canada
8.3.3.1 Market Statistics
8.3.3.2 Key Players
8.4 Europe
8.4.1 Overall Market Statistics
8.4.2 The U.K.
8.4.2.1 Legal And Regulatory Framework
8.4.2.2 Market Statistics
8.4.2.3 Key Players
8.4.3 Germany
8.4.3.1 Legal And Regulatory Framework
8.4.3.2 Market Statistics
8.4.3.3 Key Players
8.4.4 Spain
8.4.4.1 Legal And Regulatory Framework
8.4.4.2 Market Statistics
8.4.5 Italy
8.4.5.1 Legal And Regulatory Framework
8.4.5.2 Market Statistics
8.4.5.3 Key Players
8.4.6 The Netherlands
8.4.6.1 Legal And Regulatory Framework
8.4.6.2 Market Statistics
8.4.6.3 Key Players
8.4.7 France
8.4.8 Other European Countries
8.5 Rest Of The World
8.5.1 Middle East
8.5.2 Latin America
8.5.3 Africa
9 KEY PLAYERS COMPANY PROFILES
9.1 Altria Group, Inc.
9.1.1 Altria Group, Inc. Summary
9.1.1.1 Mark Ten
9.1.1.2 Green Smoke LLC
9.1.2 Financials
9.1.2.1 Overall Financials
9.1.2.2 Business Segment Revenue Mix
9.1.2.3 Financial Summary
9.1.3 Key Strategies & Developments
9.2 British American Tobacco Plc (BAT)
9.2.1 British American Tobacco Plc. Summary
9.2.1.1 Nicoventures Ltd.
9.2.1.2 Vype Electronic Cigarettes
9.2.1.2.1 Voke Nicotine Inhaler
9.2.2 Financials
9.2.2.1 Overall Financials
9.2.2.2 Geography Revenue Mix
9.2.2.3 Financial Summary
9.2.3 Key Strategies & Developments
9.3 Electronic Cigarettes International Group
9.3.1 Electronic Cigarettes International Group (ECIG) Summary
9.3.1.1 Vapestick
9.3.1.2 Fin Branding
9.3.1.3 VIP
9.3.2 Financials
9.3.2.1 Overall Financials
9.3.2.2 Financial Summary
9.3.3 Key Strategies & Developments
9.4 Imperial Tobacco Group Plc
9.4.1 Imperial Tobacco Group Plc Summary
9.4.2 Fontem Ventures Summary
9.4.2.1 Puritane
9.4.2.2 Blu Ecigs
9.4.3 Financials
9.4.3.1 Overall Financials
9.4.3.2 Geography Revenue Mix
9.4.3.3 Financial Summary
9.4.4 Key Strategies & Developments
9.5 Japan Tobacco, Inc. (JT)
9.5.1 Company Summary
9.5.1.1 E-Lites
9.5.2 Financials
9.5.2.1 Overall Financials
9.5.2.2 Business Segments Revenue Mix
9.5.2.3 Financial Summary
9.5.3 Key Developments
9.6 Philip Morris International Inc. (PMI)
9.6.1 Philip Morris International Inc. (PMI) Summary
9.6.1.1 Marlboro Iqos E-Cigarette
9.6.1.2 Nicocigs
9.6.2 Financials
9.6.2.1 Overall Financials
9.6.2.2 Geography Revenue Mix
9.6.2.3 Financial Summary
9.6.3 Key Strategies & Developments
9.7 Reynolds American Inc. (RAI)
9.7.1 Reynolds American Inc. (RAI) Summary
9.7.1.1 Vuse Electronic Cigarettes
9.7.2 Financials
9.7.2.1 Overall Financials
9.7.2.2 Financial Summary
9.7.3 Key Strategies & Developments
9.8 Vapor Corp.
9.8.1 Vapor Corp. Summary
9.8.2 Financials
9.8.2.1 Overall Financials
9.8.2.2 Financial Summary
9.8.3 Key Strategies & Developments
9.9 Ballantyne Brands, LLC
9.9.1 Ballantyne Brands, LLC Summary
9.9.1.1 Mistic Electronic Cigarettes
9.9.1.2 Neo Electronic Cigarettes
9.9.2 Key Strategies & Developments
9.10 Bull Smoke
9.10.1 Bull Smoke Summary
9.11 Cb Distributors, Inc.
9.11.1 Cb Distributors, Inc. Summary
9.11.2 Key Strategies & Developments
9.12 Cigavette
9.12.1 Cigavette Summary
9.13 Clearette Electronic Cigarette Co.
9.13.1 Clearette Electronic Cigarette Co. Summary
9.13.2 Key Strategies & Developments
9.14 Cloudcig
9.14.1 Cloudcig Summary
9.14.2 Key Strategies & Developments
9.15 Gamucci Electronic Cigarettes
9.15.1 Gamucci Electronic Cigarettes Summary
9.15.2 Key Strategies & Developments
9.16 International Vapor Group, Inc. (IVG)
9.16.1 International Vapor Group, Inc. (IVG) Summary
9.16.1.1 South Beach Smoke
9.16.1.2 Ever Smoke
9.16.1.3 Vapor Zone
9.16.2 Key Strategies & Developments
9.17 Lekker
9.17.1 Lekker Summary
9.17.2 Key Developments
9.18 Logic Technology Summary
9.18.1 Logic Technology
9.18.2 Key Strategies & Developments
9.19 Njoy, Inc.
9.19.1 Njoy, Inc.Summary
9.19.1.1 Key Strategies & Developments
9.20 Provape:
9.20.1 Provape Summary
9.20.2 Key Strategies & Developments
9.21 Vmr Products LLC
9.21.1 Vmr Products LLC Summary
9.21.1.1 V2 Cigs
9.21.1.2 Vapor Couture
9.21.2 Key Strategies & Developments
LIST OF TABLES
TABLE 1 GLOBAL USB RECHARGEABLE E-CIGARETTE DEVICE MARKET DRIVERS-IMPACT ANALYSIS
TABLE 2 GLOBAL USB RECHARGEABLE E-CIGARETTE DEVICE MARKET DRIVERS-IMPACT ANALYSIS
TABLE 3 GLOB AL USB RECHAGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET ($MILLIONS), 2016-2025
TABLE 4 TOP RATED RECHARGEABLE E-CIGARETTE BRAND WITH PRICE
TABLE 5 PERSONAL VAPORIZER BRANDS WITH PRICES
TABLE 6 GLOBAL USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE BY DISTRIBUTION CHANNELS ($ MILLION), 2016-2025
TABLE 7 GLOBAL USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE BY RETAIL CHANNELS ($ MILLION), 2016-2025
TABLE 8 GLOBAL USB RECHARGEABLE E-CIGARETTE & VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 9 APAC USB RECHARGEABLE E-CIGARETTE & VAPORIZER DEVICE MARKET VALUE ($MILLION), 2016-2025
TABLE 10 CHINA USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 11 MALAYSIA USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 12 INDIA USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 13 JAPAN USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 14 NORTH AMERICA USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 15 THE US USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 16 CANADA USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 17 EUROPE USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 18 THE UK USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 19 GERMANY USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 20 SPAIN USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 21 ITALY USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 22 THE NETHERLANDS USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
TABLE 23 FRANCE USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET VALUE ($ MILLION), 2016-2025
LIST OF FIGURES
FIGURE 1 GLOBAL USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET ANALYSIS: SCOPE AND COVERAGE
FIGURE 2 MARKET ESTIMATION AND FORECAST PERIOD
FIGURE 3 GLOBAL USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET ANALYSIS AND SEGMENTATION
FIGURE 4 BIS RESEARCH METHODOLOGY
FIGURE 5 BOTTOM-UP APPROACH FOR MARKET ESTIMATION
FIGURE 6 GLOBAL USB RECHARGEABLE E-CIGARETTE & VAPORIZER DEVICE MARKET VALUE BY GEOGRAPHY
FIGURE 7 GLOBAL USB RECHARGEABLE E-CIGARETTE MARKET VALUE BY KEY DISTRIBUTION CHANNEL ($ MILLION), 2016-2025
FIGURE 8 USB RECHARGEABLE E-CIGARETTE DISTRIBUTION CHANNELS
FIGURE 9 FEATURES OF ‘SMART E-CIGARETTE DEVICE’ PATENT FILED BY PHILIP MORRIS INTERNATIONAL (OCTOBER 2014)
FIGURE 10 RESEARCH STUDIES AND REGULATORY BODIES STUDYING & REGULATING E-CIGARETTES AND ITS EFFECTS IN EUROPE
FIGURE 11 PORTER’S FIVE FORCES ANALYSIS FOR USB RECHARGEABLE E-CIGARETTE AND VAPORIZER DEVICE MARKET
FIGURE 12 THREAT OF NEW ENTRANTS
FIGURE 13 BARGAINING POWER OF BUYERS
FIGURE 14 BARGAINING POWER OF SUPPLIERS
FIGURE 15 PRESENCE OF SUBSTITUTES
FIGURE 16 INTENSITY OF COMPETITIVE RIVALRY
FIGURE 17 MARKET SHARE FOR TOP E-CIGARETTE BRANDS IN NORTH AMERICA
FIGURE 18 MARKET SHARE FOR TOP BRANDS IN EUROPE
FIGURE 19 USB RECHARGEABLE E-CIGARETTES PRODUCT BENCHMARKING FOR NORTH AMERICAN MARKET
FIGURE 20 USB RECHARGEABLE E-CIGARETTES PRODUCT BENCHMARKING FOR EUROPEAN MARKET
FIGURE 21 IRISH VAPE VENDORS ASSOCIATION: GOALS
FIGURE 22 KEY OPERATING PRINCIPLES OF SFATA
FIGURE 23 SUGGESTED POLICIES FOR E-CIGARETTE REGULATIONS BY TCLC
FIGURE 24 E-CIGARETTE COMPLIANCE REGULATIONS BY TVECA
FIGURE 25 EU TPD PROPOSED GUIDELINES FOR EUROPEAN E-CIGARETTE MARKET
FIGURE 26 GUIDELINES SUPERVISING SUPPLY & IMPORT OF E-CIGARETTES IN AUSTRALIA, BY TGA
FIGURE 27 ADVANTAGES OF ONLINE DISTRIBUTION CHANNEL
FIGURE 28 ADVANTAGES OF RETAIL SALES CHANNEL
FIGURE 29 GLOBAL USB RECHARGEABLE E-CIGARETTE MARKET SEGMENTATION, BY GEOGRAPHY
FIGURE 30 REGULATIONS UNDER THE NATIONAL TOBACCO CONTROL LAW (CHINA)
FIGURE 31 AUSTRALIA: E-CIGARETTE REGULATIONS
FIGURE 32 COMMERCIAL IMPORTATIONS AND RETAIL SALE OF NON-NICOTINE ELECTRONIC CIGARETTES
FIGURE 33 KEY POINTS OF THE ONTARIO BILL45 (MAKING HEALTHIER CHOICES ACT, 2014)
FIGURE 34 THE U.K.’S E-CIGARETTE AND VAPORIZER MARKET - LEGAL AND REGULATORY FRAMEWORK
FIGURE 35 GERMANY E-CIGARETTES AND VAPORIZER MARKET- LEGAL & REGULATORY FRAMEWORK
FIGURE 36 SPAIN E-CIGARETTES AND VAPORIZER MARKET- LEGAL & REGULATORY FRAMEWORK
FIGURE 37 ITALY E-CIGARETTES AND VAPORIZER MARKET - LEGAL & REGULATORY FRAMEWORK
FIGURE 38 THE NETHERLANDS E-CIGARETTE MARKET- LEGAL & REGULATORY FRAMEWORK
FIGURE 39 THE OVERALL LAWS AND REGULATIONS GOVERNING THE E-CIGARETTE MARKET IN LATIN AMERICA
FIGURE 40 ALTRIA GROUP, INC.: OVERALL FINANCIALS ($BILLION); 2013-2015
FIGURE 41 ALTRIA GROUP, INC.: BUSINESS SEGMENTS REVENUE MIX, 2013-2015 ($MILLION)
FIGURE 42 BRITISH AMERICAN TOBACCO PLC (BAT): OVERALL FINANCIALS ($ BILLION); 2012-2014
FIGURE 43 BRITISH AMERICAN TOBACCO PLC (BAT): GEOGRAPHY REVENUE MIX ($BILLION); 2012-2014
FIGURE 44 ECIG: OVERALL FINANCIALS ($MILLION); 2012-14
FIGURE 45 IMPERIAL TOBACCO GROUP PLC: OVERALL FINANCIALS, ($BILLION); 2013-2015
FIGURE 46 IMPERIAL TOBACCO GROUP PLC: GEOGRAPHY REVENUE MIX, ($BILLION); 2012-2014
FIGURE 47 JAPAN TOBACCO CORPORATION (JT): OVERALL FINANCIALS, ($BILLION) 2013-2015
FIGURE 48 JAPAN TOBACCO CORPORATION (JT): BUSINESS SEGMENTS REVENUE MIX, ($BILLION) 2013-2015
FIGURE 49 PHILIP MORRIS INTERNATIONAL INC. (PMI): OVERALL FINANCIALS, ($BILLION); 2013-2015
FIGURE 50 PHILIP MORRIS INTERNATIONAL INC. (PMI): GEOGRAPHY REVENUE MIX ($BILLION); 2013-2015
FIGURE 51 REYNOLDS AMERICAN INC. (RAI): OVERALL FINANCIALS, ($BILLION); 2012- SEP2015
FIGURE 52 VAPOR CORP: OVERALL FINANCIALS ($MILLION); 2012-2014
The global issue of tobacco consumption has become more critical, irrespective of the known and proven detrimental health affects its poses and the increasing taxes being levied on the same. Identifying the importance of finding alternatives to tobacco, the first e-cigarette was designed in China, back in 2003. The market has evolved through three generations and is standing at the point of influx, wherein a plethora of companies are entering, thanks to the low entry barriers such as government policy and capital requirements. The global e-cigarette market is poised to grow over $16 billion by 2025, at a double digit CAGR from 2016 to 2025.
 
The market has been largely driven by a flurry of activities including Mergers and Acquisitions, Patent Warfare, and the introduction of smart (microcontroller operated) products among others. Moreover, the emergence of Vape shops and it‘s increasing count is increasingly attracting more users through their wide variety of products and better assistance while shopping for the desired products. However, the state and local governments have initiated levying hefty taxes on e-cigarettes and this is emerging as a key challenge for the market. Also, the unregulated manufacturing process in China and the consequent rise in numbers of adverse (explosion and poisoning incidents) are other restraining factors for the e-cigarette market.
 
In spite of the proposals and anticipated implementation of stringent regulations and policies governing the e-cigarette market, the revenue from the key geographical regions will continue to rise at a double digit CAGR through the forecast period. While North America, with U.S. leading the way will dominate the market throughout the forecast period, APAC will be growing at the fastest CAGR through the forecast period. Significant revenue flow will be observed in China and India.
 
Tobacco consortiums, recently established vaping associations and regulatory bodies which have a significant role to play in the global e-cigarette industry since, the future growth of the market largely depends on the regulatory framework. The proposal of the Tobacco Product Directive (TPD) by the European Union (EU) is by far the most controversial directive and will come into effect by May 2016. Following the proposal, the companies will have to bring about drastic changes in their marketing and distribution strategies, which might affect the market growth through the forecast period. Moreover, 3 states in the U.S. states viz. Minnesota, North Carolina, and Washington have already imposed taxes on e-cigarettes and accessories, and a similar paradigm is expected to be followed through the forecast years.
 
The prevalent distribution channels for USB rechargeable e-cigarettes and vaporizers are online and retail. The market players either operate through their own brands or sell their products through online supermarkets and e-commerce websites. The retail channel is comprised of convenience stores, vape shops, pharmacies, and tobacco shops among others. Even after the regulatory framework takes shape, the retail outlets will continue to generate increasing revenue for the market. However, the ease of procuring and choosing such devices from the wide variety that online resellers offer will enable the distribution channel to grow at a CAGR of 21.95% through the forecast period.
 
The market continues to remain fragmented with different market leaders based out of different countries. The market is yet to bring out the global leaders and in this scenario Big Tobacco acquired or owned brands continue to be the leading revenue generating names in the market. Few players profiled in the company are Altria, Britidh American Tobacco, Japan Tobacco International, Logic Technology, Gamucci, CloudCig, and NJOY among others.
 

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