E Cigarettes Market Analysis- Size, Share, Growth, Industry Demand, Forecast, Application Analysis To 2022

Published On:June 6, 2017, 8:50 am

E cigarettes are electronic cigarettes or vaporizer cigarettes that are battery-runE Cigarettes devices particularly manufactured to provide chemicals andflavored nicotine to the user in the form of vapor instead of smoke. These cigarettes are gaining much popularity across the globe as a substitute to conventional tobacco filled cigarettes. Several manufacturers assert that E cigarettes are better substitutes for tobacco smokers that are struggling hard to prevent any inhalation of smoke.

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Tobacco smokes comprise of over 4,000 different types of chemicals that are harmful for the human body. E cigarettes are by the looks, quite similar to that of traditional tobacco pipes, cigarettes or cigars. These battery-run devices contain nicotine in liquid form which is dissolved in propylene glycol solution and water. This liquid which comprises of some particular flavor is heated into vapor, which eventually the user inhales. E cigarettes are considered to be less harmful to health owing to their seamless design and the dissociation with smoke generated by traditional cigarettes. Even though E cigarettes are marketed as comparatively safer substitutes to tobacco cigarettes, it is yet not clear whether there are any health risks pertaining to their usage.

The global E cigarettes market is anticipated to experience exclusively lucrative growth and will register itself at a substantial CAGR of over 23% during the forecast period. These are more cost efficient as compared to regular cigarettes since heavy taxes imposed on cigarettes have considerable escalated their prices. For example, many governments have increased their taxes on conventional cigarettes, and the general tax duty imposed on cigarettes has reached more than 80% of their retail costing.

The ascending prices of cigarettes have resulted in more and more acceptance of electronic cigarettes since they are an economical alternative for many consumers. Other major factors responsible for the positive growth of this market are reduced harmful effects of E cigarettes along with the increasing awareness pertaining to the side effects of smoking. Market manufacturers are perpetually developing novel types of E cigarettes to keep up to the demands and tastes of the consumers. Recently, British American Tobacco launched a novel variant of heat-not-burn device called ‘gloiFuse’. It mixes fresh tobacco leaves to E cigarette technology.

This cross cigarette makes use of little amounts of tobacco to enhance the flavor.Also, the E cigarettes come in variety of flavors suiting every customer’s need, and this factor surely propels this market further. But, rigorous regulations levied on their manufacturing by many governments are hindering the global market growth of this industry. For example, in May 2016, the United States Food and Drug Administration (FDA) declared that several tobacco products such as hookahs, cigars, including E cigarettes will be considered similar to traditional cigarettes and hence their manufacturers will have to take FDA approval for marketing their products.

The prime market players of the global E Cigarettes market are Altria Group, Vapor Corp, Lorillard, Bull Smoke, China National Tobacco Corporation, MCig, Inc, Shenzhen Jieshibo Technology, Philip Morris International, ProVape, Hangsen, Japan Tobacco, Gamucci, BlueCigs, Njoy, Cloudcig, V2, FirstUnion, Electronic Cigarette International Group, Innokin, Truvape, Kimree, ITC, KiK, and Cigr8.

Geographically, this market has been segmented into regions such as Central and South America, North America, APAC, Western Europe, Eastern and Central Europe, and MEA. The product segmentation and analysis of this market industry are first-generation e-cigarettes, second-generation e-cigarettes, and third-generation e-cigarettes. Based on the product type, this market is split into EGO type, Mini type, and mechanical MOD type. The end user applications are both women and men.

 

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