E-cigarette Market Growth and Future Outlook Report, 2014 to 2024

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E-cigarette Market Share, Size, Growth, Price
Trends, Key Players and Forecasts, 2014 to 2024
Hexa Research
Global E-cigarette Market Size to be Worth USD
44.56 Billion by 2024
The global E-cigarette Market is set to reach USD
44.55 billion by 2024, driven by the rising
consumer demand for resource competent vaping
products. The growth for e-cigarette market is
prominently being driven by growing health
awareness and environment-friendly usage. Need
for the alternative product as a result of rising
taxes on traditional cigarettes (tobacco rolled)
and its products has been one of the
factors driving the growth of the electronic
cigarette industry.
Emerging factors such as increasing awareness
about harmful effects of traditional cigarettes,
improving lifestyle, and growing e-commerce
business are expected to upsurge the growth of
the market for the forecast period. In addition,
various mergers and acquisitions are also
expected to fuel the market growth. For instance,
in 2012, a merger took placed between tobacco
giant Lorillard and U.S.-based e-cigarette company
Blue Ecigs, which helped them to roll out their
own brands by leveraging the technology possessed
by Blu Ecigs.
The e-cigarette vendors are introducing a variety
of flavors which differs from menthol to the
fusion of fruits and flavoring substances. These
flavors are becoming a differentiator for vendors.
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The market for e-cigarettes in North America and
Europe is projected to grow on account of
increase in disposable incomes and smokers
population in these regions. Asia Pacific market
was valued at USD 946.2 million in 2016 and is
expected to grow rapidly during the forecast
period. The growth of the market in Asia Pacific
region is subjected to factors such as product
availability and increasing awareness regarding
the ill - effects associated with traditional
(tobacco rolled) cigarettes in countries such as
India, Malaysia, and China.
The electronic cigarettes market has been
segmented on the basis of products such as
modular, rechargeable and disposable
e-cigarettes. Among these, modular e-cigarettes
are popular among consumers, followed by
rechargeable and disposable. Modular e-cigarettes
provide flexibility in flavors, besides improved
inhaling experience which gives greater
satisfaction to the user.
Companies are focusing on diversifying their
portfolio by offering flavors, aesthetic
properties, and nonhazardous ingredients to end
users. By acquiring Lorillard in 2014, Reynolds
American has become largest vendor in the North
American market. The acquisition created a
competition to Altria, a well-established player
in the market. The deal united some notable
cigarette brands, such as American Spirit, Pall
Mall, Newport, and Camel.
Hexa Research has segmented the global
e-cigarette market based on product and region
Segmentation by product, 2014 - 2024 (USD Million)
Disposables Rechargeable Modular
Segmentation by region, 2014 - 2024 (USD Million)
North America Europe
Asia Pacific ROW
Key players analyzed
Altria Group Inc.
British American Tobacco Plc. Japan Tobacco
Inc.
Imperial Brands Plc.
Phillip Morris International Inc.
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Reynolds American Inc. VMR Products LLC
Nicotek LLC
Njoy Inc.
International Vapor Group
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Table of Content of E-cigarette Market
Chapter 1. Market Summary
1.1. Market trends movement
Chapter 2. E-cigarette Market Trends Drivers
Opportunities 2.1. Introduction
2.2. Key industry trends
2.3. Market drivers
2.4. Market restraints
2.5. Value chain analysis 2.6. Porter's Five
Forces analysis 2.7. SWOT
Chapter 3. E-cigarette Market Trends, By
Product 3.1. Global E-cigarette market movement,
by product, 2016 2024 3.1.1. Modular
3.1.1.1. Market estimates and forecast, 2014 -
2024 (USD Million) 3.1.2. Disposable
3.1.2.1. Market estimates and forecast, 2014 -
2024 (USD Million) 3.1.3. Rechargeable
3.1.3.1. Market estimates and forecast, 2014 -
2024 (USD Million)
Chapter 4. E-cigarette Market Trends, By
Region 4.1. Global E-cigarette Market movement,
by region, 2014 2024 4.1.1. North America
4.1.1.1. Market estimates and forecast, 2014 -
2024 (USD Million) 4.1.1.2. Market estimates and
forecast, by product, 2014 - 2024 (USD
Million) 4.1.2. Europe
4.1.2.1. Market estimates and forecast, 2014 -
2024 (USD Million) 4.1.2.2. Market estimates and
forecast, by product, 2014 - 2024 (USD
Million) 4.1.3. Asia Pacific
4.1.3.1. Market estimates and forecast, 2014 -
2024 (USD Million) 4.1.3.2. Market estimates and
forecast, by product, 2014 - 2024 (USD
Million) 4.1.4. Rest of World
4.1.4.1. Market estimates and forecast, 2014 -
2024 (USD Million)
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4.1.4.2. Market estimates and forecast, by
product, 2014 - 2024 (USD Million)
Chapter 5. Key Country Markets
5.1. U.S.
5.1.1. Market estimates and forecast, 2014 - 2024
(USD Million) 5.1.2. Market estimates and
forecast, by product, 2014 - 2024 (USD
Million) 5.2. Italy
5.2.1. Market estimates and forecast, 2014 - 2024
(USD Million) 5.2.2. Market estimates and
forecast, by product, 2014 - 2025 (USD
Million) 5.3. UK
5.3.1. Market estimates and forecast, 2014 - 2024
(USD Million) 5.3.2. Market estimates and
forecast, by product, 2014 - 2025 (USD
Million) 5.4. China
5.4.1. Market estimates and forecast, 2014 - 2024
(USD Million) 5.4.2. Market estimates and
forecast, by product, 2014 - 2025 (USD
Million) 5.5. Malaysia
5.5.1. Market estimates and forecast, 2014 - 2024
(USD Million) 5.5.2. Market estimates and
forecast, by product, 2014 - 2024 (USD Million)
Chapter 6. Competitive Landscape 6.1. Competitive
landscape analysis, 2016 6.2. Strategic framework
6.3. Potential customer base concentration 6.4.
Company market positioning 6.5. Company profiles
6.5.1. Altria Group Inc.
6.5.1.1. Company Overview 6.5.1.2. Product
Benchmarking 6.5.1.3. Financial
Performance 6.5.1.4. Recent Initiatives
6.5.2. British American Tobacco Plc. 6.5.2.1.
Company Overview 6.5.2.2. Product
Benchmarking 6.5.2.3. Financial
Performance 6.5.2.4. Recent Initiatives
6.5.3. Japan Tobacco Inc.
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6.5.3.1. Company Overview 6.5.3.2. Product
Benchmarking 6.5.3.3. Financial
Performance 6.5.3.4. Recent Initiatives
6.5.4. Imperial Brands Plc. 6.5.4.1. Company
Overview 6.5.4.2. Product Benchmarking 6.5.4.3.
Financial Performance 6.5.4.4. Recent Initiatives
6.5.5. Phillip Morris International Inc. 6.5.5.1.
Company Overview 6.5.5.2. Product
Benchmarking 6.5.5.3. Financial
Performance 6.5.5.4. Recent Initiatives
6.5.6. Reynolds American Inc. 6.5.6.1. Company
Overview 6.5.6.2. Product Benchmarking 6.5.6.3.
Financial Performance 6.5.6.4. Recent Initiatives
6.5.7. VMR Products LLC
6.5.7.1. Company Overview 6.5.7.2. Product
Benchmarking 6.5.7.3. Financial
Performance 6.5.7.4. Recent Initiatives
6.5.8. Nicotek LLC
6.5.8.1. Company Overview 6.5.8.2. Product
Benchmarking 6.5.8.3. Financial
Performance 6.5.8.4. Recent Initiatives
6.5.9. Njoy Inc.
6.5.9.1. Company Overview 6.5.9.2. Product
Benchmarking 6.5.9.3. Financial
Performance 6.5.9.4. Recent Initiatives
6.5.10. International Vapor Group 6.5.10.1.
Company Overview
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6.5.10.2. Product Benchmarking 6.5.10.3.
Financial Performance 6.5.10.4. Recent Initiatives
6.5.11. List of other vendors
Chapter 7. Methodology and Scope 7.1. Research
methodology
7.2. Research Scope Assumptions 7.3. List of
data sources
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research and consulting services to a host of key
industries across the globe. We offer
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