E-cigarette refers to a cigarette shaped device which stimulates the experience of smoking tobacco without inhaling the tobacco. E-cigarette consists of battery
The global e-cigarette & vaporizer market is segmented into product type such as disposable e-cigarette, rechargeable e-cigarette, e-go and tanks e-cigarette, personal vaporizers and mods. Among these segments, rechargeable e-cigarette segment is expected to occupy the top position in the market. Factors such as availability of different level of nicotine are believed to drive the market of rechargeable e-cigarette segment. Moreover, advantages of rechargeable e-cigarette such as high quality, better performance and lower overall cost are creating substantial demand for rechargeable e-cigarette segment.
Global e-cigarette & vaporizer market is expected to expand at a CAGR of 23.6% over the forecast period. Moreover, the global e-cigarette & vaporizer market was valued at USD 9.1 Billion in 2016 and is expected to reach USD 49 Billion by the end of 2024. Rising awareness about the harmful effects of cigarette such as cancer, lung diseases and vascular diseases is expected to garner the growth of the e-cigarette & vaporizer market.
North America is projected to hold the major market share in e-cigarette and vaporizer during the forecast period. Rising disposable income, increasing number of e-cigarette & vaporizer stores and increasing healthcare awareness are some of the key factors driving the demand for e-cigarette & vaporizer in the North America region. Moreover, strict government regulations to reduce the number of deaths caused due to tobacco are expected to accelerate the growth of the e-cigarette & vaporizer market in the region.
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Rising Healthcare Awareness
Increasing healthcare awareness coupled with rising adoption of e-cigarettes & vaporizer is driving the growth of e-cigarette & vaporizer market. Further, government initiatives such as health awareness observances and months are expected to impel the growth of the e-cigarette & vaporizer market. Additionally, tobacco controls programs by the government bodies are increasing the healthcare awareness among population. These factors are fuelling the demand for the e-cigarette & vaporizer.
Innovation & Development in E-cigarette Technology
Rise in innovation & development of e-cigarette & vaporizer technology is fostering the growth of e-cigarette & vaporizer market. Recent development such as efficient design, long lasting, new flavors are expected to accelerate the demand for E-cigarette & Vaporizer Market during the forecast period. In contrary, lack of standards and regulations for manufacturing e-cigarette & vaporizer is likely to inhibit the growth of the e-cigarette & vaporizer market in the near future.
The report titled “E-cigarette & Vaporizer Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global e-cigarette & vaporizer market in terms of market segmentation by product type, by distribution channel and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global e-cigarette & vaporizer market which includes company profiling of Electronic Cigarette International Group, Dash Vapes, Hubbly Bubbly Ltd., Liquideu, Nice Vapor, Pacific Smoke International, Puff ECIG, Simple Vape C0. London Ltd., Smokio, Vape Escapes and Vapor Line. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global e-cigarette & vaporizer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: EIN Presswire