Global E-Cigarette Market Product type and their Contribution
Posted on 14 November 2017 by KenResearch Food and Beverage,
In the global e-cigarette market, the modular e-cigarettes generate around ~% of the revenue which contributes to USD ~~ million in terms of value. The country which generates highest revenue by selling modular e-cigarettes in percentage terms is Malaysia with ~0% of revenue earned by the country from this segment. However in absolute terms, the maximum revenue from modular e-cigarettes is generated by US, UK and France. The rechargeable e-cigarettes generate revenue of ~% in the global e-cigarette market of e-cigarettes contributing USD ~ million in the total revenue earned by the e-cigarettes globally. The countries that generates highest share of revenue by selling rechargeable e-cigarettes in terms of percentage are Italy and Germany with a share of ~% each. In most of the countries, the rechargeable e-cigarettes contribute the second highest share of the revenue in the total e-cigarette market. The prices of the rechargeable e-cigarettes are comparatively higher than the disposable e-cigarettes. However, it is slightly lower than the modular e-cigarettes.
E-Cigarette Market at the Global Level
United States is the region that dominates the global e-cigarette market. It accounted for ~% of the market with revenues worth USD ~ million of the overall market of e-cigarettes in the world during 2016. There was a sudden jump in the market size of the e-cigarettes in US during 2013-2014. This was because the majority of the companies in the country were engaged in the widespread advertising of the product which helped the product gain recognition among the US population. Also, a series of mergers took place during this period.
The region that dominated the global e-cigarette market after US is Europe. It accounted for ~% market share by revenue that amounted to USD ~ million of the overall market of e-cigarettes in the world during 2016. The usage of e-cigarettes across Europe has been increasing. The number of users who are using such devices has also been increasing in the region. The number of people (European adults) who have tried e-cigarettes in the region rose from ~ in 2012 to ~% in 2014.
The next region that dominates the global e-cigarette market is Asia-Pacific. APAC accounts for ~% of the market and contributed USD ~ million in the overall e-cigarette market in 2016. Despite the large number of smokers present in this region the number of people that took vaping is quit less and the vaporizer market in this region is at a nascent stage.
The MEA region contributed ~% of the total market share of e-cigarette companies in the world. The e-cigarette market in MEA region was worth USD ~ million in 2016
In the global e-cigarette market, the tobacco flavor contributed the largest share of revenues generated. It contributed ~% of the total e-cigarette market in the world. The tobacco flavor is more prevalent across countries as the users in most countries are addicted to smoking in most regions and are trying to shift towards a healthier alternative. Therefore, smokers shift towards e-cigarettes and as they are addictive to the nicotine and tobacco flavor they prefer using tobacco flavored e-cigarettes.
The next most popular e-liquid flavor in the world in terms of revenue is botanicals. Botanicals contributed ~% of the total e-cigarette market of the world. The botanicals include flavors such as jasmine, mint, menthol, cinnamon, basil, wild lettuce, kava, rosemary, cloves and many more. These are also known as natural flavors.
US E-Cigarette Market is Positioned
The number of premature deaths during 2005 was 7,564 per 100,000 people. The number decreased to 7,411 after the introduction of e-cigarettes in the US market and it further declined to 6,997 people per 100,000 people in the year 2015.
In terms of market revenue, the market recorded an increase from USD ~ million in 2011 to USD ~ million in 2016 at a significant CAGR of ~%.
The market revenue of e-cigarettes in the US has increased by ~% during 2014-2015. The market was at USD ~ million during 2014 and increased to USD ~ million in 2015.
The increase in market size during 2014-2015 can be attributed to the fact that there was widespread advertising of e-cigarettes done during this period through television commercials, internet and print media. By 2015, approximately 2.4 million high school students and 620,000 middle school students had used an e-cigarette at least one time.
The number of vape stores in US has increased during the past few years. The number of vape stores currently operating in the country is 6,000-8,000. The increase in vape shops in the country helps in the growth of the market as the products are easily available to the people.
Ankur Gupta, Head Marketing & Communications