Global E-Cigarette Market- Industry Analysis and Outlook (2017-2021) Competition is largely between the topmost tobacco companies. The report covers both regional and global aspect of the market with key underlying trends and challenges. The E-cigarette companies that have been covered in the report include Imperial Tobacco Group PLC, Altria Group Inc., Japan Tobacco Inc., and Reynolds American Inc.
Optimistic Outlook for Global E-Cigarette Market
A huge demand is coming in for E-cigarettes from younger population. This range of demographic share diversified with changing lifestyle and preferences is an indication of impending growth of the market. Vaping or using E-Cigarettes have become a style statement for younger population. This movement of modern culture has led to spur in demand for new flavors with exclusive use of different ranges of nicotine strength. People are quitting traditional tobacco smoking and heading towards the use of E-Cigarettes because of their perception that E-Cigarettes hold relatively lesser health risks.
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The global E-Cigarette market is aggressively moving forward with increased research and development activities. Large tobacco companies are collaborating with different scientists to prepare new types which are theoretically healthier per say. The global E-Cigarette market is expected to grow at a robust growth rate in the coming years because of rapid product launches. The manufactures are introducing new products before any FDA or concerned authorities pass on tighter regulation or put a cap on the marketing of new products.
Regionally, the US dominated the global market in terms of value in the year 2016, and is further expected to do so in the coming years as well because of higher acceptance of the product. However, Korean E-Cigarette market is emerging out as a favorable destination to launch new products due to high demand and multiple acquisitions in the market. The awareness of the technology is catching up the heat in many other regions with rising awareness, leading to staggering growth of the market in the coming years.
The future outlook of the market appears to very optimistic. The competitive landscape of the market is largely between top four to five players, whereas the market has large existences of other trivial players as well.
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UK is among the fastest growing regions of Europe with many upcoming small retailors and vendors, providing innovative & cost effective E-cigarettes. The US will see tight FDA regulation being put on E-Cigarette manufactures, thereby creating a challenging environment. The key factors driving the growth of the global E-Cigarette market include new product launches, increase in net average selling price, mounting prices of tobacco cigarettes, and growing youth population.
E-Cigarettes have potential risks and benefits, but it has significantly shifted people from conventional tobacco smoking to E-Cigarette smoking. E-Cigarette is an innovation aimed at replacing traditional cigarette smoking. It comes in varied options like disposables, cig-a-like, e-cigars, vape modes, modular and many more.
E-Cigarettes just like tobacco smoking produces vapor that resembles cigarette smoke. These E-Cigarettes contain nicotine in various levels according to the type of E-Cigarette. There are currently more than 4,000 flavors available with different nicotine level. The primary parts that make up an E-cigarette are a mouthpiece, a cartridge (tank), a heating element/atomizer, a microprocessor, a battery, and possibly a LED light on the end.