Global E-Cigarette Market is Expected to Witness Consolidation in the next 5-10 years with Rising Mergers and Acquisitions between leading Tobacco Manufacturing Companies: Ken Research
Posted on 14 November 2017 by KenResearch Food and Beverage,
Introducing different flavors in e-cigarettes has helped companies that are manufacturing e-cigarettes in expanding their business and attracting more number of customers to use e-cigarettes.
Various vape festivals are organized in across countries which helped in the growth in the popularity of e-cigarettes. Vape festivals that were organised in this period were Vapestock in Florida, VapeCon in Virginia, VapeBash in Chicago and many more. Increase in the health awareness in various countries among people encouraged them to switch from normal cigarettes to e-cigarettes, which led to an increase in the market revenues of e-cigarettes. Major companies currently in the e-cigarette market include Innokin, Aspire, MCV Philippines and others. Technologies such as RDAs, mechanical mods and regulated mods all came into existence which contributed to the growth of this industry.
Introducing different flavours in e-cigarettes has helped companies that are manufacturing e-cigarettes in expanding their business and attracting more number of customers to use e-cigarettes. One of the main reasons young population is experimenting and using e-cigarettes is due to the curiosity, peer influences and the availability of different flavours of e-liquids. There are more than 450 companies operating in the e-cigarette market and e-cigarettes are available in more than 7,700 flavours. The e-cigarettes are also available in candy, fruity, coffee and dessert flavours along with the classic menthol and tobacco flavours.
Various mergers and acquisitions are taking place in the industry during the past few years. The big giants in the tobacco industry are acquiring small e-cigarettes local players to enter into the e-cigarette sector and in the local markets of different countries. The majority of acquisitions took place in United Kingdom and United States and as a result, the countries became the largest players of e-cigarettes.
The report titled “Global E-Cigarette Market by Category (Tobacco Flavored E-Liquids, Botanicals, Fruit Flavors, Nicotine Free E-Liquids); By purchase channel (Online, Specialist Vape/E-Cigarette Stores, Other Physical Retailers), By type (Modular, Disposable, Rechargeable) – Outlook to 2021” by Ken Research suggested that companies can expand their reach in the market by opening more vape stores in different countries. This will help them to cater to the needs of larger audience. More people would be able to consume the e-cigarettes in the countries if they are easily available in close vicinity.
Ankur Gupta, Head Marketing & Communications