Industry Background:
Electronic Cigarettes are also known as Vaping, which consist of different type of devices that allow the users to inhale an aerosol that might be nicotine, flavoring and other species. Electronic Cigarettes market is expected to mark significant growth over forecasted period owing to increasing technological advancements, change in lifestyle and consists of various flavours and fragrance. There has been significant rise in number of prevalence of adults using e-cigarettes with figure stood up to 60% in United States, Russia and Germany in 2018, the future for Electronic Cigarettes looks promising. This result in rising health concerns among the smoking population and escalating cost effectiveness of disposable models for Electronic Cigarettes popularity may trigger demand and help in industry expansion.
According to AMA, the market for Electronic Cigarettes is expected to register a CAGR of 8.17% during the forecast period to 2026. This growth is primarily driven by Increase Number of Vape Shops and Designated Stores Boost the Electronic Cigarettes Market. and Rapid Demand of Eco-Friendly and Social Acceptability Fuelled up the Electronic Cigarettes Market..
Globally, a noticeable market trend is evident Increasing demand of Electronic Cigarettes at developed countries.
. The Tobacco sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as British American Tobacco plc (United Kingdom), Altria Group Inc. (United States), Japan Tobacco Inc. (Japan), Imperial Brands plc (United Kingdom), Philip Morris International Inc. (United States), VMR Products LLC (United States), NJOY Inc (United States), International Vapor Group (United States), Hub International, Inc. (United States) and FIN Branding Group LLC (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2018, Altria acquired Cronos Group with a deal of 1.8 USD Billions. This acquisition is beneficial in strengthening its business portfolio at U.S. regions by offering more than 70% of the cartridges based E-Cigarettes.
Regulatory Insights:
“According to Ministry of Health websites, its regulate e-cigarettes were classified as new/amended laws, or existing laws. The policy domains identified include restrictions or prohibitions on product: sale, manufacturing, importation, distribution, use, product design including e-liquid ingredients, advertising/promotion/sponsorship, trademarks, and regulation requiring: taxation, health warning labels and child-safety standards.”
Market Drivers
- Increase Number of Vape Shops and Designated Stores Boost the Electronic Cigarettes Market.
- Rapid Demand of Eco-Friendly and Social Acceptability Fuelled up the Electronic Cigarettes Market.
Market Trend
- Increasing demand of Electronic Cigarettes at developed countries.
- Value Oriented Customers.
Restraints
- Implementation of Strict Government Regulations Hampers the Electronic Cigarettes Market.
- Health Hazardous Diseases Associated With in Electronic Cigarettes Market.
Opportunities
Consumers Shifted towards Tobacco Alternatives that leads to grow the Electronic Cigarettes Market. and Huge Investments and Franchising By Major Players.
Challenges
Limitation on Increasing Lobbying by Pharmaceutical Players are Anticipated to Challenge the Market.
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Electronic Cigarettes Study Sheds Light on
The Electronic Cigarettes Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Electronic Cigarettes industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Electronic Cigarettes industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.