LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global e-cigarette market since 2016 and the market is poised to grow by USD 38.4 billion during 2019-2023, progressing at a CAGR of over 22% during the forecast period. Request Free Sample Pages
Read the 116-page research report with TOC on "E-Cigarette Market Analysis Report by Product (modular e-cigarette, next-generation products, rechargeable e-cigarette, and disposable e-cigarette), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2019 - 2023"
The market is driven by the growing demand for e-cigarettes as they are perceived to be less harmful than other substitutes. In addition, the increasing application of e-cigarettes as a smoking cessation tool is anticipated to further boost the growth of the e-cigarette market.
Tobacco-based products such as cigars and cigarettes are extremely harmful in comparison to e-cigarettes. There is a high number of deaths witnessed around the globe caused by smoking of cigarettes and passive smoking as they lead to respiratory ailments, heart diseases, and cancer. People are easily addicted to smoking as tobacco products contain nicotine in them. However, e-cigarettes stimulate the experience of tobacco smoking without delivering toxin substances such as tar to the lungs. Health experts are recommending smokers to switch to e-cigarettes to avoid the harmful effects of smoking. Thus, the growing preference for e-cigarettes over other tobacco products is expected to drive market growth during the forecast period.
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Major Five E-Cigarette Market Companies:
British American Tobacco
British American Tobacco owns and operates businesses under various segments in the US, APME (Asia-Pacific and the Middle East), AMSSA (the Americas and Sub-Saharan Africa), and ENA (Europe and North Africa). The company offers e-cigarettes under the brands, Vype, Vuse, and VIP. It offers HNB products such as glo and neo.
Imperial Brands manufactures and offers products through global business units: tobacco and NGP, and distribution. The company offers e-cigarettes under the brand, blu.
Japan Tobacco Inc.
Japan Tobacco Inc. has business operations under various segments, namely international tobacco, Japanese domestic tobacco, processed food, and pharmaceutical. The company offers e-cigarettes under the brand, Logic. It offers heated tobacco products under the brand Ploom.
JUUL Labs Inc.
JUUL Labs Inc. offers a wide range of e-cigarettes. The company also offers JUULPODS in various flavors such as mint, mango, cucumber, and menthol.
PHILIP MORRIS INTERNATIONAL INC.
PHILIP MORRIS INTERNATIONAL INC. has business segments across European Union, Eastern Europe, Middle East & Africa, South & Southeast Asia, East Asia & Australia, and Latin America & Canada. The company offers e-cigarette under the brand, IQOS.
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E-Cigarette Product Outlook (Revenue, USD Million, 2019 - 2023)
- Modular e-cigarette
- Next-generation products
- Rechargeable e-cigarette
- Disposable e-cigarette
E-Cigarette Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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