DUBLIN–(BUSINESS WIRE)–The “Vape Market – Global Outlook and Forecast 2020-2025” report has been added to ResearchAndMarkets.com’s offering.
The study considers the present scenario of the vape market and its market dynamics for the period 2019-2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent companies operating in the market.
Key Market Insights
- The analysis of the vape market provides sizing and growth opportunities for the forecast period 2020-2025.
- Offers sizing and growth prospects of the market during the forecast period
- Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market
- Includes a detailed analysis of growth drivers, challenges, and investment opportunities
- Delivers a complete overview of segments and the regional outlook of the market
Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage
Vape Market: Segmentation
Open tanks systems started to gain popularity among end-users in 2014 when the global e-vapor market faced an influx of private label products, and vaping enthusiasts started demanding strong vaping experience. However, VTMs are more prevalent in European countries such as Italy, France, Spain, Germany, and the UK, where the penetration has crossed 50% mark. The existing demand in the US, Italy, and the UK, along with growing demand from Poland, China, and Russia, will propel the growth during the forecast period.
Cig-a-likes are the first generation of e-cigarettes designed to mimic traditional cigarettes. The advent of closed tanks systems and VTMs has affected the sale of cig-a-likes since 2014. Further, a weak battery power, along with low vapor-producing capacity, leads to dissatisfaction among end-users. Thus, the demand started to decline. However, with the introduction of modern-day cig-a-likes such as the one by V2 Cigs (V2 Cigs EX series), cig-a-likes are started to witness growth.
The HnB market is growing rapidly across the globe. APAC is the largest market for HnB products, followed by Europe. The APAC region enjoys a larger share because of the large smoking population and continuous shift toward smoking innovative products. Besides, South Korea, Italy, Russia, and the Czech Republic are the robust market for heat-not-burn products. HnB products are getting popular with the shift in social culture and increasing health consciousness among people. The industry is also growing quickly in Europe, especially the UK, Italy, Poland, and France.
The market value of heat-not-burn products is expected to grow twice in Western Europe than Eastern Europe. Although the heat not burn market share is minuscule compared to cigarettes, they are expected to witness significant growth during the forecast period. The market size for HnB tobacco consumables is expected to grow at a CAGR of over 20% during the period 2019-2025.
Insights by Geography
The global vape market is growing at a tremendous rate. The US vapor market is consistently increasing after the authorization of the sale of HnB products by the FDA in the country. This is expected to help North America to increase its share as smokers in the US are becoming health conscious. One of the major influencing factors propelling growth is the increasing availability of vapor products in vape shops and over the internet.
Europe captures more than a 33% share of the revenues. Poland, Germany, Italy, Russia, and the Czech Republic are the major contributors to the European market. Poland has been witnessing tremendous growth, with the revenue increasing from $130 million in 2014 to $542.6 million in 2016. The growth can be attributed to heavy taxation on traditional tobacco cigarettes and the presence of low-cost vapor products in the country.
Market Growth Enablers
- Shifting Consumer Perception of Smoking Combustible Cigarettes
- Increasing Availability of Variety of E-Juices
- Growing Distribution Network
- Stringent Government Regulations
- Increasing Protectionist Directives and Measures
- Increased Concerns over Vaping Effects on Human Health
Market Opportunities And Trends
- Shift from Smoking toward Vaping
- Increased Market Consolidation
- Increasing Marketing & Promotional Efforts
- Altria Group
- British American Tobacco (BAT)
- Imperial Brands
- Japan Tobacco International (JTI)
- Philip Morris International (PMI)
- RJ Reynolds Vapor Company (RJRVC)
- Ballantyne Brands
- CB Distributors
- ECIG (Formerly known as Victory Electronic Cigarettes)
- International Vapor Group
- Joyetech Co.
- KangerTech Technology
- Mainstream Cannabis Innovations Group (mCig Group)
- PAX Labs
- RR Chemicals
- Totally Wicked E-liquid
- Vape Holdings
- Vapor Hub International
- VPR Brands
- White Cloud (Leads by Sales)
- XEO International
- KT&G (Korea Tomorrow& Global Corporation)
- Shenzhen AVBAD Technology Company Ltd.
- Vapor Tobacco Manufacturing
- Shenzhen Royal Tobacco Industrial Limited (Royal Tobacco)
- Shenzhen Yukan Intelligent Technology Co. Ltd.
- Sichuan China Tobacco Industry Co. Ltd.
- Marvel International Tobacco Group
For more information about this report visit https://www.researchandmarkets.com/r/fdsco