DUBLIN--(BUSINESS WIRE)--The "E-Cigarette Market by Product - Global Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
The e-cigarette market is estimated to reach $44,610.6 million by 2023, the growth in the market will be led by factors such as increasing health concerns among the smokers, demand for smokeless and ashless vaping, and surge in the number of vape shops and designated stores.
Based on product, the e-cigarette market has been broadly categorized into cig-a-like, vaporizer, and vape mod. The market for vape mod is expected to witness the fastest CAGR, of around 22%, during the forecast period. Customizable vape mods are becoming a popular choice among ex-smokers, current smokers, and new smokers.
Based on distribution channel, the market has been classified into vape shops, supermarkets, online, and tobacconists. Among these channels, vape shops generated the highest revenue in the e-cigarette market in 2017.
APAC is the region offering ample growth opportunities for the vendors. Large population coupled with increasing urbanization has been propelling the demand for e-cigarettes in the region. China was the forerunner in the regional e-cigarette industry, with around 40% share in 2017. After the U.S. and the U.K., China was the third largest e-cigarette market in the world in 2017, and is expected to grow rapidly, during the forecast period.
Innovations and advancements in technology are expected to pave the way for next-generation products. Traditional tobacco manufacturers across the globe are moving into design, development, production, and sale of vaping products because of the increased interest of people in these products and the growing demand for tobacco cigarette alternatives.
Besides, tobacco companies are entering into agreements with other companies to increase their business, including agreements based on raw material supply, patents, product rights, and other regulating factors. For instance, in 2016, Altria Group expanded its strategic framework with Philip Morris International Inc. with a joint research and development and technology-sharing agreement.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
Chapter 5. Global Market Size and Forecast
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. Asia-Pacific Market Size and Forecast
Chapter 9. Rest of the World Market Size and Forecast
Chapter 10. Global E-Cigarette Aftermarket Size and Forecast
Chapter 11. Competitive Analysis
Chapter 12. Company Profiles
- British American Tobacco plc
- Altria Group Inc.
- Japan Tobacco Inc.
- Imperial Brands plc
- Philip Morris International Inc.
- VMR Products LLC
- NJOY Inc.
- International Vapor Group
- Vapor Hub International Inc.
- FIN Branding Group LLC
For more information about this report visit https://www.researchandmarkets.com/research/hkxdzs/44_6_billion?w=4
