Global E-cigarette
Market is segmented on the basis of geographical region as North America,
Asia Pacific, Europe and Rest of the World. Electronic-cigarettes are
battery-operated tools that mainly encompass liquid nicotine that is usually
dissolved in a water and propylene glycol solution. As per the data and
studies, it has been found that electronic cigarettes are attaining huge
recognition across the globe as a substitute to conventional tobacco filled
cigarettes. In these types of cigarettes, what happens is the liquid possessing
some particular flavor gets heated and is later converted into a vapor, which
is further inhaled by the user.
It is known that they are quite cost effective and economical as compared to
smoking. Moreover, due to their outstanding design and their disassociation
with the smoke produced by the traditional cigarettes, they are deemed as less
detrimental and injurious to health in the global E-cigarette market.
Prominent factors that are playing a vital role in raising the share of the
market include augmentation in the watch for substitutes to tobacco, increased
accessibility to distribution channels, rise in the number of vape shops, cost
effective nature of e-cigarettes, existence and domination of established
tobacco manufacturers, and improvement in device technology and product
innovation.
In addition, vape shops are also emerging greatly, that is in turn raising the
number of users via their wide range of products and enhanced assistance at the
time of purchasing their desired products. Activities like mergers and
acquisitions, patent warfare, and rise in the customization in products are
also providing a stimulus to the global E-cigarette market.
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The only factors that are turning as major challenges for
the market growth include enforcement of strict legal framework, uncertainty
concerning health hazards owing to e-cigarettes, and intensification in the
number of reported adverse events. Other factors that are also affecting the
growth entails augmenting popularity among children, adolescent, and
non-smokers, extreme lobbying by pharmaceutical companies, and unfettered
production practices.
Despite the applications of severe norms and policies
governing the e-cigarette market, the market is still gaining huge demand
across the globe. It has been observed that the market is experiencing huge
market opportunities entailing investment, franchising, and incorporation of
the E-cigarette and Cannabis Industry. As far as the geographical
location is concerned, North America is currently leading the market and United
States is the major contributor in raising the share of the market in the
respective region.
Contrarily, Asia Pacific is also emerging as one of the promising regions and
it is estimated that the region will grow at the fastest CAGR in the near
future, the reason being augmented demand for electronic cigarettes, inclined
preference towards tobacco and rising disposable income. Countries like China
and India are the main contributors that are playing a vital role in boosting the
market growth of the particular region. The key players operating in the Global
E-cigarette Market include Njoy, Reynolds American, Altria, Vapor, British
American Tobacco, Nicotek, and Lorillard.
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