The market for electronic cigarette, commonly known as e-cigarette, has been advancing at a significant rate since the last few years, as a number of people have shifted their loyalties towards vaporizers and e-cigarettes from traditional smoking. These devices which are being reckoned as an alternative for conventional cigarettes emit vaporized nicotine which is inhaled by the user.
Although the market is being driven on multiple promising factors such as the presence of established brands, cost-effectiveness, perceived health benefits, and product customizations, there are certain pain points such as uncertain regulatory framework, increasing incidents of e-liquid poisoning, and compatibility issues among others which must be addressed for the market to grow significantly.
A wide range of research studies have been taken up by BIS Research, engaging in the exploration of the e-cigarette and vaporizer market and covering the legal and regulatory aspects in the global arena including the U.S. and the European markets. The research taken up also includes the emerging cannabis market of North America, the e-liquid market in the U.S. and Europe in addition to the global market evolution and development studies.
The future growth of the market is susceptible to be staggered with the imposition of regulations and taxation on e-cigarettes, considering them similar to conventional tobacco cigarettes. The market has evolved through three generations and is standing at the point of influx., The onset of 2017 is expected to present a more stable picture of the e-cigarette market globally, with regulatory framework taking final shape across participating countries.
The e-cigarette and t-vapor market amounted to $11.44 billion in 2016 and is expected to witness a double-digit growth throughout the forecast period of 2017-2025.
E-cigarettes are increasingly being used as smoking cessation products, while the sale of nicotine replacement products has been falling in the region by over 6% year by year since 2014, e-cigarette sales have been growing at double digit rates. The market now has the presence of both leading Big Tobacco players and several small local players leading the revenue generation.
Owing to the fragmented nature of the market, non-uniformity of the regulatory framework and absence of any big players, the APAC e-liquid market currently makes up only a meagre share of the global market and is valued at $XX million.
While North America previously dominated the e-liquid market in terms of revenue generation, Europe now holds the largest market share of the global market with a value of $XX billion. UK is the largest market in Europe, with a revenue generation of $xx million, and will continue to be so throughout the forecast period.
As a result of increasing competition and growing consumer demand for different e-liquid flavors, the U.S. e-liquid market is poised to grow over $4.77 billion by 2025 at a double digit CAGR from 2015 to 2025.
The APAC e-cigarette market currently valued at $XX million makes only than XX% share of the global e-cigarette market. The first commercially sold cigarette was invented in 2003 in China, by pharmacist Hon Lik, however it was only after 2012 that the market started gaining significant traction.
An electronic cigarette (e cigarette), or Vaporizer or electronic nicotine delivery system (ENDS) is a battery operated device which simulates the experience of tobacco smoking without the inhalation of smoke. BIS Research estimates that the global electronic cigarette industry will exhibit a growth of over 22.36% (CAGR) from 2015 to 2025, to reach a total market value of $50 Billion by 2025 as per its updated report.
The Asia Pacific region, being one of the largest consumers of tobacco, demonstrates the highest percentage of smokeless tobacco users. It holds the largest market share, XX%, of the global market with a value of $XX billion and is expected to continue leading the market throughout the forecast period, growing at the fastest CAGR of XX% from 2015 to 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.
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 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.
In the wake of increasing tobacco consumption and its detrimental health effects, the first e-cigarette was designed in China, back in 2003, in the hopes of finding an alternative to tobacco smoking.
Europe stands at the forefront of the legal scenario of the global e-cigarette market with a series of laws and regulations for e-cigarette and e-liquid manufacturing, sales, distribution, advertising, and marketing. When disposable e-cigarettes entered the market in the form of ‘cig-a-likes’, market estimations were never targeted towards estimating the size of e-liquid market.
Cannabis is the most widely used of all psychoactive drugs in the market due to its derivative products and their uses, its applications and wide acceptance. Owing to the medicinal and industrial uses of the cannabis plant, cannabis market is growing rapidly. Factors like multi-faceted applications of cannabis, expansion of licensing strategies, and automated irrigation system among others are driving this market towards growth.
The U.S. is the largest revenue generating market for e-cigarettes and vaporizers globally and the exponential market growth has brought about a surge in the demand of e-liquid in the country. While new consortiums and alliances are being formed to either promote or bring down the growing popularity of e-liquids, an increasing number of convenience stores and online retailers are increasing their e-liquid product offerings.
The global e-cigarette market is expected to grow over $50 billion by 2025, at an estimated CAGR of 22.36% from 2015 to 2025. The market will witness a staggering growth until 2017, by when most of the regulatory and policy framework will fall into place. The growth rate will significantly increase thereafter, with significant revenue generation from evolving markets of APAC and Europe.
The U.S. is anticipated to continue with its hegemony in the global e-cigarette market value, poised to grow over $20.17 billion by 2025 at an estimated CAGR of 22.5% from 2015 to 2025. Being home to one of the largest distribution networks for the sale of e-cigarette and accessories, the country alone accounted for more than 45% share of the total revenue generation in 2014.
European Nations have established a reputation of following conservative policies and stringent regulations and consequentially is the only geographical region globally to have finalized a set of regulations for the manufacturing, marketing, and distribution of e-cigarettes. In spite of the government’s intent to levy hefty taxes on e-cigarettes, the market is poised to grow from $2.14 billion in 2014 to $17.02 billion in 2015 at an estimated CAGR of 18.26% through 2015-2025.
There are number of regulations that are radically affecting the e-cigarette market. The development of tobacco products directive (TPD) implementing regulations across Europe is expected to take place with a good framework (such as in the U.K.), and others with unfavorable frameworks amounting to bans (such as those in Sweden and Holland).
Microbiome: Changing Contours of Beauty and Personal Care
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