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

LONDON, May 16, 2018 /PRNewswire/ -- Global E-cigarette and T-Vapor Market to Grow at a Double-Digit CAGR from 2017 to 2025

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High prevalence of tobacco related mortality and growing health concerns have compelled governments across the globe to take measures to curb tobacco use by implementing prohibitive taxation, indoor smoking bans, and awareness campaigns about health risks, among others. Innovative products such as, e-cigarettes and t-vapor products are being developed, to explore alternate smoking cessation methods, that substitute the nicotine intake of smokers but eliminate or reduce the harm caused by tobacco cigarettes.

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.

The research study is a compilation of various segmentations including the market breakdown by product segment, by components, by distribution channel, and by region. This report provides a detailed market analysis and forecast of various product segments, namely disposable e-cigarettes, rechargeable cig-a-likes, closed tank systems, open tank systems, and t-vapor. Additionally, it also includes sub-segmentation of each product type by components such as, e-liquid, battery, atomizers, and tobacco sticks.

The market has been analyzed based on various micro and macro trends influencing it. While highlighting the key driving and restraining forces for this dynamic market, the report also provides a comprehensive section on competitive landscape, industry attractiveness, market share analysis, competitive benchmarking, and the position of the competitors within the global e-cigarette and t-vapor market.

The following key questions have been addressed in the report:
• How has the e-cigarette and t-vapor market evolved in the past and how is it anticipated to evolve during the forecast period from 2017 to 2025?
• What are the major market factors propelling the growth of the market?
• What are the various challenges that are faced by the industry that need to be addressed?
• Who are the key players across product segments and regions in the e-cigarette and t-vapor market?
• What are the key developmental strategies adopted by the key players to stand out in this market?
• What were the market shares of the different e-cigarette types and their components across countries in 2016 and 2017?
• How will the market and aftermarket for each product type of the global e-cigarette and t-vaporizer market grow during the forecast period? What will be the revenue generated by each segment by the end of 2025?
• Which distribution channels are used by players to market their products across regions and why? What will be the revenue generated through each channel through the forecast period?

The report also includes an exhaustive analysis of the market for each geographical region, namely North America, Europe, Asia-Pacific, Latin America and RoW. Each geographical region analysis details the individual push and pull forces, and market and aftermarket for each product type, in addition to the key players from that region.

The report also examines the role of the leading market players involved in the industry. The company profiles section highlights significant information about the key companies such as their product portfolio, financial positions, and the SWOT analysis of these players. Some of the key players in the e-cigarette and t-vapor market are Japan Tobacco Inc., Altria Inc., Philip Morris International, British American Tobacco, Njoy, Apollo Ecigs, JUUL, Innokin, PAX Labs, and Flavortech.

Executive Summary
Smoking rates and the consumption volume of cigarettes have been declining on the global scale. In 2016, 5.5 billion cigarettes were consumed, a volume decline of 1.5% from the previous year and declined further by another 3-4% in 2017. Despite the decline in the cigarette market, tobacco related mortality remains the leading preventable cause of death across the globe. Consequently, health organizations and governments are on a look out for efficient smoking cessation products to reduce tobacco use. E-cigarettes and tobacco vapor products imitate the look and feel of the cigarettes but are assumed to release less harmful chemicals than tobacco cigarettes and are being touted as safe alternatives to tobacco cigarettes and thus as the future of the tobacco industry.

Increasing prices of cigarettes, rising health awareness, and product innovation and technological advancements of e-cigarettes are propelling the growth of the market. The ease of access to distribution channel, especially online websites and e-commerce sites, which provide market players with the scope to expand both locally and globally, continues to be one of the key drivers for the market. However, in the current scenario retail channels such as, convenience stores, vape shops, and tobacco users generate over 60% of the revenue, and remain the primary form of distribution. However, the growth of the market is dependent on the legal and regulatory framework, and taxation policies, which have been tightening across the globe.

Open tank systems have become the predominant product type in the market due to their advanced technology, and features of customization and interoperability. However, closed tank systems which combine the pros of rechargeable e-cigarettes and open tank systems with their long battery life, more vapor formation, and large tanks are expected to be the fastest growing e-cigarette product segment.

The market for t-vapor products, the adoption rates of which have increased multifold in 2017 in countries such as Japan, South Korea and Russia, are expected to triple in size by 2021. Over 70% of the revenue of t-vapor products comes from device sales, while rest is contributed by the sales of tobacco capsules and sticks.

While North America and Europe have been the leading markets for e-cigarettes due to early adoption of vape products in the regions, APAC is anticipated to dominate the market in t-vapor products. In Japan, which was the first country where t-vapor products were launched countrywide, approximately 30% smokers have already switched to t-vapor.

Of the world's 1 billion smokers, 700 million reside in APAC, and the region is currently grappling high smoking related morbidity and mortality, of the 5.5 million people who die from smoking-related illnesses each year, half are in Asia, thus making the tobacco pandemic a major concern to all stakeholders in public health sector. Moreover, most countries still have lax regulations and low taxation rate for tobacco products, thus providing players with an opportunity to introduce smoking alternatives in the market.

There lies opportunity for introduction of t-vapor products in the European region, which has the highest smoking rate, globally. Moreover, since only a handful of players have launched closed tank systems and tobacco vaporizers, there lies immense untapped potential for the growth of these products in the market across the globe. Furthermore, while e-cigarettes are cost effective, the price of t-vapor products are on the exorbitant side, providing opportunity to smaller players to launch more economical products to consumers.

Countries Covered
• North America
• U.S.
• Canada
• U.K.
• Europe
• Germany
• France
• Poland
• Italy
• Rest of Europe
• APAC
• China
• India
• Japan
• Rest of APAC
• Rest of the World

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