As per the World Health Organization, there has been a diminutive but steady decrease in the estimated number of smokers worldwide, approximately over one billion. However, it’s a different matter when it is about vape—E-Cigarettes & Vaporizer. Market Research Future (MRFR) digs into the fact that global e-cigarettes & vaporizer market 2020 estimates a colossal expansion is expected from 2016 to 2021 at 25.0% CAGR. The number of people vape will reach almost 55 million by 2021. The e-cigarette industry has been active in the COVID-19 pandemic to encourage sales of vaping products, which has caused growth options to uncover and facilitated revenue considerably.
E-Cigarettes & Vaporizer Boomers & Decliners
With the escalating trend toward e-commerce, online retailing is emerging as a strong distribution channel in recent times, mainly for e-cigarettes & vaporizer. It is now expected to expand further, thereby raising the value of distribution channels as well as the market. The United States, United Kingdom and France are the prevalent markets. Vapers in these countries spent more than $10bn (£8bn) on smokeless tobacco and vaping products in 2019.
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While studying, MRFR finds that some e-cigarette & vaporizer companies offer gifts of essential pandemic supplies, such as hand sanitizer and even toilet paper as a bonus with an e-cigarette purchase. Whereas a few other companies are offering COVID-19 discounts to health care professionals and other essential workers, which is, on the other level, is stimulating the market gross positively.
More factors, such as cost-effectiveness of non-refundable models of e-cigarettes and cartridge models are reasonably affordable. Thus, these are considered beneficial in the long-term compared to traditional cigarette smoking. This remains a prime driver for the Covid-19 Analysis on E-Cigarettes and Vaporizer Market. On the other part, the rise in e-cigarette use is soaring owing to the current popularity of e-cigarettes offerings in an ample variety of flavors and different shapes like a USB flash drive, such as JUUL. It has also been studied that sprouting consumer taste is driving diversity in e-liquid flavors globally, with tobacco, botanical, and fruit flavors being the most popular. This factor is yet ageing playing as a pivotal role in the development of the market in the analysis timeframe.
Furthermore, the factor of customization in flavors has also a recent trend in many regional markets of e-cigarette & vaporizer. In the case of point, vaping Company, Kit Stick, introduced a new micro USB-recharging vaporizing pen along with a starter kit containing the pen device, charging cable with all four-flavor pods, and a syringe bottle to aid with refills. High street selling flavors, such as tiramisu and champagne, are also facilitating the global e-cigarette & vaporizer market to grow significantly.
The foremost players in Global Covid-19 Analysis on E-Cigarettes and Vaporizer Market include Hubbly Bubbly, Dash Vapes, Nice Vapor., LIQUIDEU, Puff ECIG, Pacific Smoke International, SMOKIO., Simple Vape Co. London Ltd, Vape Escapes, And Vapor Line.
Global level analysis of the E-Cigarettes and Vaporizer Market is conducted for the segments such as product type.
The segmentation of the E-Cigarettes and Vaporizer Industry by product Type has included rechargeable e-cigarette, disposable e-cigarette, personal vaporizers and mods, EGO and tanks, and others.
Europe is the leading market for e-cigarettes in the world, led by countries, like Germany, the United Kingdom, France, and Russia. The penetration of e-cigarettes & vaporizer products is particularly sky-scraping in the United Kingdom and France, owing to high demand from users in the age group of 30-44 years. Tobacco companies, such as UK British American Tobacco PLC (BAT) and Imperial PLC are investing billions of dollars into research, development, and marketing cigarette alternatives, owing to the turning down of the popularity of traditional smoking methods. France is likely to be the world’s largest e-cigarette market. As per the French Office for Smoking Prevention, the number of e-cigarette shops in France might reach beyond 500 by the end of 2020.
North America, with the U.S., is also one of the prevalent consumers in the world that will lead the market all through the forecast period.
APAC will also be expanding at the fastest CAGR, grabbing more than 20% of the global e-cigarette market value by 2021. Noteworthy revenue flow will be observed from China and India over the analysis period.
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