San Francisco, 12
November 2018: The global e-cigarette and vaping market size is projected to reach USD 47.11 billion by 2025,
according to a new study by Grand View Research, Inc., expanding at a CAGR of
23.8% during the forecast period. Burgeoning popularity of these products among
young generation is expected to drive the market over the forecast period.
Vaping is considered to
be an effective method to quit smoking, as it is less toxic and creates vapor
instead of smoke. Rising awareness of consuming safe, smokeless, and ash less
tobacco is estimated to propel the market. Its adoption is estimated to
increase, particularly among individuals willing to quit smoking or willing to
smoke merely for recreation. Launch of new and innovative vaping devices is
also anticipated to foster the adoption of these devices.
Rising concerns
regarding conventional cigarettes among various age groups is boosting the
demand for e-cigarettes. Several E-liquid flavors are being launched in the market
to cater to changing preferences of individuals, thereby stimulating market
growth all over the world. However, e-cigarettes are often compared to
conventional cigarettes and hence tend to attract criticism, a factor that is
expected to restrain the growth of the market.
Several agencies have
been calling for setting standards for vaping devices in order to encourage
people to opt for a safer alternative to smoking. Long-term studies undertaken
by various medical associations have helped determine that e-cigarettes can be
considered as a safer substitute to conventional cigarettes. However, various
governments have banned sales and distribution of e-cigarettes, which is likely
to limit the growth of the market.
The global arena
comprises major tobacco companies that control a large share of the global
market. These players are venturing into e-cigarette space with new and
innovative products under their brand name. On the other hand, there also exist
various smaller players in the industry that develop efficient vapor products.
Moreover, market incumbents are also investing in new product development and
introducing innovative products.
Access Research Report
of E-Cigarette and Vaping
Market @ www.grandviewresearch.com/industry-analysis/e-cigarette-vaping-market
Further key findings from the study suggest:
· Modular device is expected to be the
fastest growing segment, rising at a CAGR of 24.9% over the forecast period.
Modular devices allow their users to adjust vapor output according to their
preference.
· E-liquid is expected to exhibit the highest
CAGR of 26.7%. Growing popularity of DIY e-liquid is anticipated to contribute
to the growth of the segment
· Online platforms are emerging as a popular
medium for sales of vapor products. Vendors are using social media applications
such as Instagram, WhatsApp, and Facebookto promote their vaping devices
· North America accounted for the largest
share in the market in terms of revenue and is estimated to reach USD 20.49
billion by 2025. North America is home to prominent players, such as Altria
Group, Inc. and Philip Morris International Inc., which command a significant
share of the market
· Key industry participants include Altria
Group, Inc.; British American Tobacco; Imperial Brands; International Vapor
Group; Japan Tobacco International; NicQuid; Philip Morris International Inc.;
R.J. Reynolds Vapor Company; Shenzhen IVPS Technology Co., Ltd.; and Shenzhen
KangerTech Technology Co.; Ltd.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has
segmented the global e-cigarette and vaping market based on product, component,
distribution channel, and regions:
E-Cigarette and Vaping Product Outlook (Revenue, USD
Million, 2014 - 2025)
·
Disposable
·
Rechargeable
·
Modular Devices
E-Cigarette and Vaping Component Outlook (Revenue, USD
Million, 2014 - 2025)
·
Atomizer
·
Method of Delivery (MOD)
·
Cartomizer
·
E-liquid
E-Cigarette and Vaping Distribution Channel Outlook
(Revenue, USD Million, 2014 - 2025)
·
Online
·
Retail
E-Cigarette and Vaping Regional Outlook (Revenue, USD
Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
·
MEA
Access Press Release of
E-Cigarette and Vaping Market@ www.grandviewresearch.com/press-release/global-e-cigarette-vaping-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
