LONDON, Jan. 22, 2018 /PRNewswire/ -- This market
research report on the vapor products market offers an analysis
about market size and forecast, market share, industry trends,
growth drivers, and vendor analysis.
Download the full report:
https://www.reportbuyer.com/product/5289127
The market study offers insights about segmentation in terms of
products (cig-a-likes, closed tanks systems, VTMs, e-liquids,
cartomizers, e-cigarette batteries, heat-not-burn (HnB) devices,
tobacco sticks, and tobacco cartridges), and by distribution
(retail and online), and by region (APAC, Europe, Latin
America, MEA, and North
America).
Vapor Products Market - Overview
The e-cigarette market is growing at a tremendous rate, thereby
gaining popularity worldwide. Several key vendors are introducing
next generation vapor products such as Heat-not -Burn (HnB)
devices, e-vapor, smoke vapes, smokeless tobacco products,
cig-a-likes, and reduced risk products (RRP) cigarettes due to the
increasing popularity of e-cigarettes.
The recent developments in the vapor products market are the
introduction of vaping devices or battery-powered inhalers. These
vaping products reduce the risk of tobacco-related diseases by
eliminating the inhalation of tar and other toxicants by active and
passive smokers.
E-cigarettes/e-vapor and HnB devices are designed to simulate
tobacco smoking by providing inhaled doses of e-juices through
vaporizing the flavored liquid, which, in turn, will boost sales in
the e-cigarette market.
About one billion people in the world fall under the category of
tobacco smokers, constituting approximately 13% of the total world
population. According to the WHO, around 7 million people die due
to tobacco smoking annually, out of which 890,000 die due to
passive smoking.
The growing global health awareness and technological developments
aiding safer smoking is driving the global vapor products (e-vapor
and heat-not-burn (HnB) devices) market and is expected to cross
$43 billion by 2023, growing at an
impressive CAGR of over 15% over 2017–2023.
Vapor Products Market - Dynamics
Launch of new vapor product lines to contribute to the growth of
the e-cigarette market globally
The perception of end-users toward e-vapor and HnB tobacco vapor
products is changing worldwide. The vapor products market is
witnessing an increase in desire among end-users globally to quit
smoking because of the increasing number of deaths caused by
smoking-related cancer, respiratory diseases, and heart
diseases.
These factors are primarily contributing to the decline of the
global sales volume of traditional cigarettes over the last few
years. This trend, coupled with continuous innovations in e-vapor
and HnB devices, is prompting large tobacco companies such as
Altria Group, Imperial Tobacco, Philip Morris International, and
British American Tobacco to shift their focus toward the
development of these products.
HnB Devices Market - Brief Analysis
The increasing demand and the potential growth of the vapor
products market can be estimated through the case of Philip Morris.
The company launched its first HnB device, iOQS, in Japan for pilot testing.
Due to its high popularity, iQOS was launched nationwide in
Japan in 2016 and became an
immediate sensation in the HnB tobacco vapor market in Japan. As of November
2017, the penetration of iQOS in the Japanese tobacco market
reached 11.9%. It also made its way into markets in 31 countries
worldwide, with Japan being its
largest market. According to Philip Morris, over 3.7 million
consumers have already switched to iQOS globally.
Vapor Products Market Segmentation
This market research report includes a detailed segmentation of the
market by products, by distribution channels, and by geography.
Vapor Products Market – By Products
Global vapor products (e-vapor and heat-not-burn (HnB) Devices)
market expected to grow at a faster pace over the next few
years
E-vapors or e-cigarettes are electronic nicotine delivery systems
that heat liquid nicotine or flavored juices to create inhalable
vapor. These devices are categorized into cig-a-likes, closed tanks
systems, and open tanks systems. The availability of these products
will boost the sale in the vapor products market.
HnB tobacco vapor systems heat tobacco instead of burning them.
They are commonly cited as the next-generation products in the
tobacco market and are segmented into direct and indirect heating
devices and infused/hybrid systems, based on the way the nicotine
is delivered to end-users. This product category also has an
aftermarket consisting of products such as tobacco sticks, tobacco
capsules, and tobacco cartridges.
Vapor Products Market – By Distribution Channels
Online sales to increase significantly due to availability of more
choices to consumers than retail stores
E-vapor and HnB tobacco vapor products are mainly sold through
retail distribution channels such as convenience stores, vape
shops, tobacco shops, grocery shops, drug stores, and other retail
outlets. These products are also available to end-users through
online OEMs' e-commerce portals and online direct-to-consumer
stores such as Amazon, eBay, Alibaba, and AliExpress. Retail sales
constitute the bulk of the distribution model in the e-cigarette
market.
Therefore, analysts at Arizton forecast online sales in the vapor
products market to increase significantly during the next five
years on account of more choices available online as compared to
retail stores.
Vapor Products Market – By Geography
APAC expected to be the largest potential retail market by 2023
In 2017, North America was the
largest e-vapor and HnB tobacco vapor product market globally. The
popularity of vapor products in the US and Canada is increasing rapidly due to the easy
availability of vapor products in vape shops and over the Internet.
However, the FDA regulations pose a significant threat to the
vaping industry in North
America.
E-vapor and HnB devices are gaining popularity in many Asian
countries such as China,
Japan, South Korea, and Malaysia. Driven by rapid urbanization,
increasing per capita disposable income, availability of low-cost
vapor products, advancements in vendor products technology, and
increase in the number of smokers in the region. APAC is expected
to be the largest potential retail market during the forecast
period.
Europe, led by the UK, in spite of
losing share to the rapidly growing market in North America during the forecast period, is
expected to account for more than 30% of the market share by
2023.
The sales of e-vapor products are restricted in several countries
in MEA and Latin America such as
Saudi Arabia, Brazil, and Argentina.
Key Countries Profiled
The key countries profiled in the report are as
following:
• US
• Canada
• Australia
• China
• Japan
• Malaysia
• UK
• Poland
• France
• Germany
• Italy
• Spain
Key Vendor Analysis
The competitive scenario in the global vapor products (e-vapor and
heat-not-burn (HnB) Devices) market is currently intensifying with
continual innovations and upgrades being the primary
characteristics of the market. The vapor products market is highly
fragmented with over 300 vendors that operate and sell e-cigarettes
under different brand names across the world.
The major vendors in the global market are as following:
• Altria Group
• British American Tobacco
• Imperial Brands
• Japan Tobacco International
• JUUL Labs
• Philip Morris International
Other prominent vendors include Ballantyne Brands, CB Distributors,
ECIG, Gamucci, Gilla, International Vapor Group, Johnson Creek, Joyetech Co, KangerTech. MCIG,
Nicotek, NJOY, PAX Labs, RR Chemicals, Totally Wicked E-Liquid
USA, Vape Holdings, Vapor Hub, VMR
Products, VPR Brands, White Cloud, and XEO International.
Key market insights include
1. Analysis of the vapor products market provides market size and
growth rate for the forecast period 2018–2023.
2. Comprehensive insights on current industry trends, trend
forecasts, and growth drivers of vapor products market.
3. Latest analysis of market share, growth drivers, challenges, and
investment opportunities
4. A complete overview of market segments and regional outlook of
global vapor products market
5. A detailed overview of the vendor landscape, competitive
analysis, and key market strategies to gain competitive
advantage
Report Snapshot
Vapor products (E-vapor and Heat-not-Burn Devices) are
battery-powered inhaler that simulates tobacco smoking. It is
designed to provide inhaled doses of e-juices by vaporizing the
flavored liquid, and then simulating the effects of smoking by
vaporizing the liquid, which the user inhales and exhales.
E-vapor devices, also known as e-vaping devices, personal
vaporizers, or ENDS use a heating element to vaporize the flavored
liquid
Report Scope
Historical Year: 2015-2016
Base Year: 2017
Forecast Year: 2018-2023
The report considers 2017 as the base year. All calculations
involving quantitative data are based on the year 2017. The values
represented in the report are actual values for 2017, whereas, the
values are estimated for the 2018?2023 period.
Market Segmentation by Distribution Channel
• Retail
o Convenience Stores
o Vape Shops
o Tobacco Shops
o Grocery Shops
o Drug Shops
o Others
• Online
Market Segmentation by Product Category
• E-Vapor
o Cig-a-likes
- Disposables
- Rechargeable
o Closed Tanks Systems
o VTMs
o E-Liquids
- Pre-filled cartridges
- Refill bottles
o E-vapor aftermarket
- Cartomizers
- E-cigarette batteries
• Heat-not-Burn (HnB) Tobacco Vapor Products
o HnB Devices
o HnB Tobacco Vapor Product Aftermarket
Market Segmentation by Geography
• APAC
o Australia
o China
o Japan
o Malaysia
• North America
o US
o Canada
• Europe
o France
o Germany
o Italy
o Poland
o Spain
o UK
• MEA
• Latin America
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