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The U.S. E-Cigarette Device and Aftermarket Analysis & Forecast 2016-2025

Electronic cigarettes or e-cigarettes (as a substitute to conventional smoking) are electronic devices wherein an atomizer (burning coil) converts a liquid (with or without nicotine) into vapor. The primary intent of such devices was to imitate conventional cigarettes, evident from the first generation, called ‘cig-a-likes’ or disposable e-cigarettes.

SKU: EC011A
Published Year: 2016
 
 

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 U.S. E-cigarette 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 chapters include the key push and pull forces prevailing in the U.S. E-cigarette market. The chapter also includes the consumer’s perspective covering aspects such as the e-cigarette usage and motivation to use in the U.S. particularly. 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 U.S. 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 chapter also includes the market share for top brands including Vuse (Reynolds American), Blu (Imperial Tobacco), and MarkTen (Altria) among others. The products of these brands have been further 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 U.S. 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, Durasmoke, Clearette, Mister E-liquid, and NicQuid among others.

Key Questions answered in the report:
. How will the key market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
. How will the intensity of competitive rivalry evolve through the forecast period?
. Which factors will be driving the market through the forecast period?
. What factors are currently challenging the U.S. e-cigarette market and how can they be addressed through the forecast period?
. Which consortiums are active in the U.S. e-cigarette market?
. How are the regulatory bodies such as the Food and Drug Administration (FDA) among others participating in the industry?
. Which compliances and certifications are necessary to make a product acceptable among the users (especially the first time vapers)?
. 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?
. Who are the key players in the U.S. e-cigarette market?

TABLE OF CONTENT
1 RESEARCH SCOPE AND METHODOLOGY
1.1 Scope Of The Report
1.2 The U.S. 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 Look Out For Tobacco Alternatives
2.1.1.1 Restriction To Smoking In Public Areas
2.1.1.2 For Smoking Cessation
2.1.1.3 Cost Effectiveness And Overall Novelty
2.1.2 Diversity Of Distribution Channels And Emergence Of Vape Shops
2.1.3 Hegemony Of Established Tobacco Players
2.1.4 Product Innovation
2.2 Market Challenges
2.2.1 Increasing Number Of Reported ‘Adverse Events’
2.2.2 Intense Lobbying Against E-Cigarettes By Pharmaceutical Companies
2.2.3 Anticipated FDA Regulations And Taxation Policies
2.2.3.1 Anticipated FDA Regulation
2.2.3.2 Taxation
2.2.4 The Paucity Of Information Regarding Benefits And Health Effects Of E-Cigarettes
2.3 Consumer Perspective
2.3.1 Electronic Cigarette Usage
2.3.2 Motivation To Use
2.3.3 Perceived Harm
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 Market Share Of Top Brands In The U.S. E-Cigarette Market
3.4 The U.S. E-cigarette And Vaporizer Market: Product Benchmarking
4 CONSORTIUMS, ALLIANCES AND REGULATORY BODIES
4.1 Consortiums
4.2 American Public Health Association (APHA)
4.2.1 Consumer Advocates For Smoke-Free Alternatives Association (CASAA)
4.2.2 Smoke Free Alternative Trade Association (SFATA)
4.2.3 Tobacco Control Legal Consortium (TCLC)
4.3 Regulatory Bodies
4.3.1 American E-Liquid Manufacturing Standards Association (AEMSA)
4.3.2 Food and Drug Administration (FDA)
4.3.3 World Health Organization-Framework Convention on Tobacco Control (WHO-FCTC)
4.4 E-Cigarettes Compliances And Certifications
4.4.1 Federal Communications Commission (FCC)
4.4.2 Generally Recognized As Safe (GRAS) Approval
4.4.3 Occupational Safety & Health Administration (OSHA) Regulation
4.4.4 SGS
4.4.5 Waste Electrical and Electronic Equipment Directive (WEEE) Compliance
4.4.6 U.S. Pharmacopeial Convention (USP) Grade Ingredient
4.5 State-Wise Regulations On E-Cigarettes In The U.S.
5 THE U.S. E-CIGARETTE AND VAPORIZER DEVICE AND AFTERMARKET, ANALYSIS & FORECAST
5.1 Assumptions For Analysis And Forecast Of The U.S. E-Cigarette And Vaporizer Market
5.2 Market Overview
5.3 The U.S. E-Cigarette And Vaporizer Device Market By Type
5.3.1 Disposable E-Cigarettes
5.3.2 Rechargeable E-Cigarettes
5.3.3 Vaporizers, Tanks And Mods (VTMs)
5.3.3.1 Egos And Tanks
5.3.3.2 Advanced Personal Vaporizers And Mods
5.4 The U.S. E-Cigarette And Vaporizer Aftermarket (Components Market), Analysis And Forecast
5.4.1 E-Liquids
5.4.1.1 Pre-Filled E-Liquid
5.4.1.2 Bottled E-Liquid
5.4.2 Atomizers
5.4.3 Battery
5.4.4 Others
5.4.4.1 Cartomizers
5.4.4.2 Clearomizer
6 THE U.S. E-CIGARETTE MARKET ANALYSIS AND FORECAST BY SOURCE OF ORIGIN
6.1 Market Overview
6.2 Imported
6.3 Local
7 THE U.S. E-CIGARETTE MARKET ANALYSIS AND FORECAST, BY DISTRIBUTION CHANNELS
7.1 Market Overview
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)
8 COMPANY PROFILES
8.1 Altria Group, INC.
8.1.1 Company Overview
8.1.2 E-Cigarette Brands
8.1.2.1 Markten
8.1.2.2 Green Smoke LLC
8.1.3 Financials
8.1.3.1 Financial Summary
8.1.4 SWOT Analysis
8.2 Azure Vaping
8.2.1 Company Overview
8.3 Ballantyne Brands, LLC
8.3.1 Company Overview
8.3.2 E-cigarette Brands
8.3.2.1 Mistic
8.3.2.2 Neo Electronic Cigarettes
8.3.3 E-Liquid Brands
8.3.3.1 Haus
8.3.3.2 Unbroken
8.4 Cigarette
8.4.1 Company Overview
8.5 Clearette Electronic Cigarette Co.
8.5.1 Company Overview
8.6 Durasmoke
8.6.1 Company Overview
8.7 EC Blend
8.7.1 Company Overview
8.8 Electronic Cigarettes International Group
8.8.1 Company Overview
8.8.2 E-cigarette Brands
8.8.2.1 Vapestick
8.8.2.2 Fin Branding
8.8.2.3 VIP
8.8.2.4 Victory E-cigarette
8.8.3 Financials
8.8.3.1 Financial Summary
8.8.4 SWOT Analysis
8.9 Firebrand
8.9.1 Company Overview
8.10 Halocigs
8.10.1 Company Overview
8.11 Hot Vapes
8.11.1 Company Overview
8.12 Imperial Tobacco Group PLC
8.12.1 Company Overview
8.12.2 Fontem Ventures Summary
8.12.2.1 Puritane
8.12.2.2 Blu Ecigs
8.12.3 Financials
8.12.3.1 Financial Summary
8.12.4 SWOT Analysis
8.13 International Vapor Group, Inc. (IVG)
8.13.1 Company Overview
8.13.2 E-Cigarette Brands
8.13.2.1 South Beach Smoke
8.13.2.2 Eversmoke
8.13.2.3 Vaporfi
8.13.3 E-Liquid Brands
8.13.3.1 Motley Brew
8.14 J Vapes E-Liquid
8.14.1 Company Overview
8.15 Mad Vapes
8.15.1 Company Overview
8.16 Mister E-Liquid
8.16.1 Company Overview
8.17 Mountain Oak Vapors
8.17.1 Company Overview
8.18 NicQuid
8.18.1 Company Overview
8.19 Nicvape
8.19.1 Company Overview
8.20 Nixteria
8.20.1 Company Overview
8.21 NJOY, Inc.
8.21.1 Company Overview
8.22 Philip Morris International Inc. (PMI)
8.22.1 Company Overview
8.22.1.1 Marlboro IQOS E-Cigarette
8.22.1.2 Nicocigs
8.22.2 Financials
8.22.2.2 Financial Summary
8.22.3 SWOT Analysis
8.23 Provape
8.23.1 Company Overview
8.24 Purilum
8.24.1 Company Overview
8.25 Reynolds American Inc. (RAI)
8.25.1 Company Overview
8.25.2 Vuse Electronic Cigarettes
8.25.3 Financials
8.25.3.1 Financial Summary
8.25.4 SWOT Analysis
8.26 Texas Select Vapor
8.26.1 Company Overview
8.27 The Vaper’s Knoll
8.27.1 Company Overview
8.28 VMR Products LLC
8.28.1 VMR Products LLC Summary
8.28.1.1 V2 CIGS
8.28.1.2 Vapor Couture
8.29 The Vapor Bar
8.29.1 Company Overview
8.30 Vapor Cast Store
8.30.1 Company Overview
8.31 Vapor Corp.
8.31.1 Vapor Corp. Summary
8.31.2 Financials
8.31.2.1 Financial Summary
8.31.3 SWOT Analysis
8.32 Vapor Shark
8.32.1 Company Overview
LIST OF TABLES
Table 2.1 MARKET DRIVERS – IMPACT ANALYSIS
Table 2.2 E-LIQUID EXPOSURE CASES RECORDED BY AAPC
Table 3.1 KEY MERGERS AND ACQUISITIONS
Table 3.2 KEY PRODUCT LAUNCHES
Table 3.3 KEY COLLABORATIONS
Table 3.4 KEY BUSINESS EXPANSION ACTIVITIES
Table 3.5 KEY LAWSUITS FILED IN THE U.S. E-CIGARETTE MARKET
Table 3.6 KEY EVENTS IN THE U.S. E-CIGARETTE MARKET
Table 4.1 STATE WISE REGULATIONS ON USE/SALES OF E-CIGARETTES IN THE U.S.
Table 5.1 THE U.S. E-CIGARETTE AND VAPORIZER MARKET VALUE, 2015-2025
Table 5.2 THE U.S. E-CIGARETTE MARKET BY PRODUCT TYPE, 2015-2025
Table 5.3 DISPOSABLE E-CIGARETTE PRICES
Table 5.4 RECHARGEABLE E-CIGARETTE PRICES
Table 5.5 EGOS AND TANKS PRICES
Table 5.6 VAPORIZERS AND MODS PRICES
Table 5.7 THE U.S. E-CIGARETTE AND VAPORIZER MARKET VALUE, BY COMPONENTS, 2015-2025
Table 5.8 THE U.S. E-LIQUID MARKET, BY TYPE, 2015-2025
Table 5.9 THE U.S. E-LIQUID MARKET BY SOURCE OF ORIGIN, 2015-2025
Table 5.10 THE U.S. E-LIQUID MARKET BY DISTRIBUTION CHANNELS, 2015-2025
Table 5.11 THE U.S. E-LIQUID MARKET BY RETAIL DISTRIBUTION CHANNELS, 2015-2025
Table 5.12 THE U.S. E-CIGARETTE BATTERY MARKET 2015-2025
Table 6.1 THE U.S. E-CIGARETTE AND VAPORIZER MARKET BY SOURCE OF ORIGIN, 2015-2025
Table 7.1 THE U.S. E-CIGARETTE AND VAPORIZER MARKET BY DISTRIBUTION CHANNELS, 2015-2025
Table 7.2 THE U.S. E-CIGARETTE AND VAPORIZER MARKET BY RETAIL DISTRIBUTION CHANNELS, 2015-2025 118
LIST OF FIGURES  
Figure 1 THE U.S. SMOKING POPULATION TREND
Figure 2 THE U.S. E-CIGARETTE MARKET SHARE, BY TYPE (%), 2015 AND 2025
Figure 3 THE U.S. E-CIGARETTE AFTERMARKET COMPONENTS SHARE (%), 2015 AND 2025
Figure 4 THE U.S. E-CIGARETTE MARKET BY DISTRIBUTION CHANNEL: A SNAPSHOT
Figure 1.1 THE U.S. E-CIGARETTE AND VAPORIZER MARKET SCOPE
Figure 1.2 BOTTOM-UP APPROACH FOR MARKET ESTIMATION
Figure 2.1 THE U.S. E-CIGARETTE MARKET DRIVERS AND CHALLENGES
Figure 2.2 TOP FIVE U.S. E-CIGARETTE BRANDS
Figure 2.3 THE EVOLUTION OF E-CIGARETTES
Figure 2.4 MARKET CHALLENGES-IMPACT ANALYSIS
Figure 2.5 SUMMARY OF THE CHILD NICOTINE POISONING PREVENTION ACT 2015
Figure 2.6 E-CIGARETTE USAGE IN THE U.S.
Figure 2.7 MOTIVATIONS TO USE
Figure 2.8 APPARENT HARMFUL EFFECTS OF E-CIGARETTE USE IN THE U.S.
Figure 3.1 PORTER’S FIVE FORCES ANALYSIS
Figure 3.2 MARKET SHARE: TOP U.S.E-CIGARETTE BRANDS (2015)
Figure 3.3 PRODUCT BENCHMARKING
Figure 4.1 KEY OPERATING PRINCIPLES OF SFATA
Figure 4.2 SUGGESTED POLICIES FOR E-CIGARETTE REGULATIONS BY TCLC
Figure 4.3 GUIDELINES FOR REGULATING THE MANUFACTURING OF E-LIQUID BY AEMSA
Figure 4.4 HEALTH RISKS OF ELECTRONIC NICOTINE DELIVERY SYSTEMS (ENDS) TO USERS AND NON USERS
Figure 4.5 EFFICACY OF ELECTRONIC NICOTINE DELIVERY SYSTEMS (ENDS) AS A SMOKING CESSATION TOOL
Figure 4.8 SOME KEY GUIDELINES OF OSHA
Figure 4.6 USP BENEFITS FOR PARTICIPATING COMPANIES
Figure 4.7 KEY OBJECTIVES OF PQM
Figure 4.9 ENACTED AND PROPOSED VAPOR EXCISE TAXES IN THE U.S. (AS OF JANUARY, 2016)
Figure 5.1 THE U.S. E-CIGARETTE TYPES MARKET VALUE ($ MILLION): 2015 AND 2025
Figure 5.2 THE U.S. E-CIGARETTE TYPES MARKET VALUE ($MILLION): 2015 AND 2025
Figure 5.3 ADVANTAGES AND DISADVANTAGES OF DISPOSABLE E-CIGARETTES
Figure 5.4 ADVANTAGES AND DISADVANTAGES OF RECHARGEABLE E-CIGARETTES
Figure 5.5 ADVANTAGES AND DISADVANTAGES OF E-GOS AND TANKS
Figure 5.6 ADVANTAGES AND DISADVANTAGES OF PERSONAL VAPORIZERS AND MODS
Figure 5.7 SEGMENTATION OF E-CIGARETTE AFTER-MARKET BY COMPONENTS
Figure 5.8 BASIC COMPONENTS OF E-CIGARETTE
Figure 5.9 THE U.S. E-CIGARETTE AFTERMARKET VALUE ($MILLION): 2015 AND 2025
Figure 5.10 THE U.S. E-LIQUID TYPES MARKET VALUE ($MILLION): 2015 AND 2025
Figure 5.11 ADVANTAGES AND DISADVANTAGES OF PRE-FILLED E-LIQUID
Figure 5.12 ADVANTAGES AND DISADVANTAGES OF BOTTLED E-LIQUID
Figure 5.13 THE U.S. E-LIQUID MARKET VALUE ($MILLION) BY SOURCE OF ORIGIN: 2015 AND 2025
Figure 5.14 THE U.S. E-LIQUID MARKET VALUE ($MILLION) BY DISTRIBUTION CHANNEL: 2015 AND 2025
Figure 5.15 THE U.S. E-LIQUID MARKET VALUE ($MILLION) BY DISTRIBUTION CHANNEL: 2015 AND 2025
Figure 5.16 GROWTH OF THE U.S. E-CIGARETTE ATOMIZER MARKET
Figure 5.17 THE U.S. E-CIGARETTE BATTERY MARKET VALUE ($MILLION) BY CAPACITY: 2015 AND 2025
Figure 6.1 THE U.S. E-CIGARETTE MARKET VALUE ($MILLION) BY SOURCE OF ORIGIN: 2015 AND 2025
Figure 7.1 THE U.S. E-CIGARETTE MARKET VALUE ($MILLION) BY DISTRIBUTION CHANNEL: 2015 AND 2025
Figure 7.2 ADVANTAGES OF ONLINE DISTRIBUTION CHANNELS
Figure 7.3 ADVANTAGES OF RETAIL SALES CHANNEL
Figure 8.1 ALTRIA GROUP, INC.: OVERALL FINANCIALS, 2013-2015
Figure 8.2 ALTRIA GROUP, INC.: NET REVENUE BY BUSINESS SEGMENTS 2013-2015
Figure 8.3 ECIG: OVERALL FINANCIALS, 2013-2015
Figure 8.4 IMPERIAL TOBACCO GROUP PLC: OVERALL FINANCIALS, 2013-2015
Figure 8.5 IMPERIAL TOBACCO GROUP PLC: GEOGRAPHY REVENUE MIX, 2012-2015
Figure 8.6 PHILIP MORRIS INTERNATIONAL INC. (PMI): OVERALL FINANCIALS, 2013-2015
Figure 8.7 PHILIP MORRIS INTERNATIONAL INC. (PMI): GEOGRAPHY REVENUE MIX, 2013-2015
Figure 8.8 REYNOLDS AMERICAN INC. (RAI): OVERALL FINANCIALS, 2013- 2015
Figure 8.9 VAPOR CORP: OVERALL FINANCIALS, 2013-2015

The overall percentage of conventional cigarette smokers has hit an all time low on a global scale, stemming either from its escalating cost, or an increased awareness about potential health hazards amongst smokers. In spite of a declining per capita consumption of cigarettes in the U.S., tobacco related mortality is the leading preventable cause of death in the country (according to the Centers for Disease Control and Prevention, CDC). In response to the cause, health organizations and pharmaceutical companies over the years have been relentlessly trying to introduce scientifically proven and efficient smoking cessation products such as nicotine gums and patches.

Electronic cigarettes or e-cigarettes (as a substitute to conventional smoking) are electronic devices wherein an atomizer (burning coil) converts a liquid (with or without nicotine) into vapor. The primary intent of such devices was to imitate conventional cigarettes, evident from the first generation, called ‘cig-a-likes’ or disposable e-cigarettes. The revenue generation through the sales of e-cigarettes started gaining significant traction since 2012 and the market was able to exhibit an unprecedented growth for almost three years, i.e. from 2012-2015. The U.S. accounted for approximately 44% of the total e-cigarette market value as of 2015.

The U.S. E-Cigarette Market Value By Device Type

The U.S. E-Cigarette Device and Aftermarket Analysis & Forecast 2016-2025

 The first two years since the market started gaining traction in 2012, exhibited a dominance of disposable and rechargeable starter kits in the market. However, owing to an increased performance and long term cost effectiveness appeal, VTMs took over the market share of the first and second generation e-cigarette devices since 2015. It is expected that disposable e-cigarettes will only be purchased by first time vapers and the major market share will be held by VTMs since they are perceived to be more beneficial for smoking cessation.

The competitive landscape for the e-cigarette market exhibits an inclination towards companies adopting strategies such as mergers, acquisitions, product launches, and contracts among others. Moreover, the industry is at an incipient stage and has intensified the patent landscape with a series of lawsuits and litigation activities taking place in the industry.

A major proportion of the market is concentrated in the hands of the Big Tobacco, which owns four of the five top brands, thus controlling a dominant portion of the market. BAT’s rechargeable e-cigarette brand, Vuse remained the dominant market leader, closely followed by Imperial Tobacco’s BluCigs, while Logic, Markten and Njoy occupy the next three positions in the industry.

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