E-Cigarettes are being increasingly used as an alternative to tobacco products, which claims to reduce the tobacco related health risks. According to the market intelligence report of BIS Research titled, ‘Global E-Cigarette and T-Vapor Market-Analysis and Forecast (2017-2025)’, the market is expected to grow at a CAGR of 30.71% during the forecast period. This significant growth rate is attributed to the technological advancements in this industry, which in turn have made it viable for the companies to launch feasible and innovative products to stay in the competitive market of e-cigarette at the global level. The prominent market players are Japan Tobacco, American Tobacco, Philip Morris International, Altria Inc., JUUL, Apollo, and Njoy, among others.
In February 2018, major tobacco manufacturer, Altria Group Inc., the parent company of Altria group Distribution CO., launched a closed vapor system product known as “Mark Ten Elite”. The product is described as a pod-based product with a premium, sleek battery design along with the convenience of prefilled, magnetic click pods. The company brought it in five flavors to more than 6,000 stores.1
In February 2018, the prominent market player, the Japan Tobacco Inc., is planning to launch its new product “heat not burn (HNB)” by the end of this year. The company is coming up with the product, to sustain in the market and to compete with its biggest rival Philip Morris International (PM. N). Owing to the rising demands for the HBN in Japan’s market, it is expected that it will garner the attraction, as HNB produces less harmful chemicals as compared to the conventional cigarette since they do not combust.2
In January 2018, U.S. based e-cigarette and e-liquids manufacturer Nicopure Labs appointed Stara- Zagora based Vapor as its distributor for Bulgaria. On behalf of this, CEO and Co-founder of Nicopure Labs, Jeff Stamler said, “In the last several years, we have focused on building an international presence for our brands Halo and eVo. We have seen success around the globe and are delighted to partner with Vapor Ltd. to further expand our brand presence in the Bulgarian market.”3
The global e-cigarette market has been segmented into Disposable cig-a-likes, Rechargeable cig-a-likes, closed tank systems, and open tank systems. It is expected that the closed tank systems market will grow at a faster rate, among others, due to the ease of use, high performance, and strong battery life. For instance, JUUL is the most popular closed tank in the U.S. and had witnessed a YOY revenue growth of over 600% from 2016 to 2017.
References:
1. CSP
2. JAPAN TODAY
3. SEE NEWS
4. Img source: Vaping360
