Global E-cigarette Market 2018-2022
An e-cigarette is an electronically driven or battery-powered inhaler that simulates tobacco smoking. It is designed to provide inhaled doses of e-liquids by converting the flavored e-liquid into aerosols. It is available in three product variants in the market which are modular, rechargeable, next-generation, and disposable.
Technavio’s analysts forecast the global E-cigarette market to grow at a CAGR of 22.13% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global E-cigarette market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global E-cigarette Market 2018-2022
Technavio recognizes the following companies as the key players in the global E-cigarette market: Altria Group, British American Tobacco, Imperial Brands, Japan Tobacco, and NJOY.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing trend of online retailing. With the growth of e-commerce businesses worldwide, vendors have the potential to enhance their profitability. E-commerce accounts for nearly 12% of the global retail trade. Online and e-commerce channels support both business-to-business (B2B) and business-to-consumer (B2C) operations. The average amount of money spent online per transaction and the number of transactions that take place online are on the rise, globally.”
According to the report, one driver in the market is increasing disposable income of the consumers. Rising disposable income of consumers in developing countries like India, China, Brazil, Indonesia, Russia, the Philippines, Taiwan, Nigeria, Thailand, and South Africa has led to middle-class expansion, increasing consumer expenditure, and changing consumer preferences. Consumers in these countries and other developing countries have become more health conscious and are adopting more active lifestyles.
Further, the report states that one challenge in the market is distribution challenges in e-cigarette market. Retail stores such as supermarkets and large chains of discount or convenience stores have become important distribution modes for e-cigarette manufacturers and vendors. However, this presents some serious challenges for the manufacturers, which are as follows: There is pressure on the manufacturers regarding the prices and margins of the product as retail stores operate at a lower profit margin, and There is a high demand from retailers and manufacturers for frequent and smaller product deliveries to reduce the warehousing costs.
Altria Group, British American Tobacco, Imperial Brands, Japan Tobacco, and NJOY.