An e-cigarette is a battery-operated device that emits a vaporized solution for inhalation. The growing concerns over health condition among the different age groups have boosted the demand for less toxic e-cigarettes and vape products. Vaping is considered an effective method to quit conventional smoking; consumers are shifting toward vaping products as less harmful as it releases vapors instead of smoke. E-cigarette comes with options of different flavors such as chocolate, fruits, tobacco and others that attract the consumers of different age groups. With the advent of the COVID-19 pandemic, the demands for e-cigarettes and vaping products have increased due to an increase in indoor smoking in consumers. To encash the opportunity of rising demand, the manufacturing companies are adapting to new marketing strategies and offering services through e-commerce platforms. It is witnessed that the use of e-cigarette has brought down the risk of cardiovascular and pulmonary diseases in consumers. This benefit from the vaping products is encouraging the consumers to buy vape products.
COVID-19 Impact Analysis
- The advent of the global pandemic, COVID-19, has positively affected the hairdryer market. An E-cigarette is a product that is used by consumers daily, it is their personal necessity. Hence, the demand for e-cigarette and vaping products has increased as consumers were forced to stay indoors due to the ongoing lockdown.
- As the COVID-19 pandemic has forced countries to enforce lockdown, the supply and distribution chain had disrupted. Hypermarkets/supermarkets and specialty tobacco stores were closed, creating a gap in demand and supply.
- The production process for new batches of e-cigarettes and vaping products had become a challenge for companies due to the limited availability of labor, inadequate raw material supply, and logistic issue.
Top Impacting Factors
- The growing middle-class population, the increase of high disposable income, rapid urbanization, and increasing awareness about conventional smoking are the major driving factor in the growth of the e-cigarette and vaping market. Consumer inclination towards flavors and developing a habit of quitting conventional cigarettes will also boost the demand for e-cigarettes and vaping products.
- Countries banning e-cigarette and vaping products are acting as a restraint of growth for the e-cigarette and vaping market. The manufacturing countries have to work on their products and develop in such a way that will meet the countries guidelines.
- The introduction of e-commerce is an opportunity for consumers to explore the desired products and buy according to their preference. The e-cigarette and vaping product companies should introduce new designs for products. That gives an option to be reviewed by the consumers that help direct the companies in identifying the exact market need.
The demand for flavored E-cigarettes is growing in the e-cigarette and vaping market.
The rise in demand for E-cigarette in the market is because of the popularity of flavors offered in e-cigarettes. Consumers are driving towards the diversity of flavors such as tobacco, chocolate, fruit, and others. The youths are attracted to intense flavors such as chocolate, alcohol and fruit, while the adults are more concentrated to use tobacco flavor. Companies are opening up specialty tobacco stores and shops to provide services to consumers. Refillable liquid models are out in the market for consumer's convenience. The stores allow consumers to try the sample of flavors and purchase according to their choice.
Omni-channel strategy usage is encouraging the sales of e-cigarettes during the COVID-19 pandemic.
E-cigarettes and vaping product are sold in brick and mortar stores. Currently, companies are adapting to brick and click services for their consumers. The introduction of e-commerce services is encouraging both company and consumer. Consumers have an option to explore more products according to their criteria. The company is expected to identify the want of the consumers and update accordingly. It will be a win-win situation for the companies as well as for the consumers. With the introduction of self-refillable models of e-cigarette, the requirement for professional for refilling the e-cigarettes won't arise.
Key Benefits of the Report
- This study presents the analytical depiction of the e-cigarette and vaping industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the e-cigarette and vaping market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed e-cigarette and vaping market analysis on the basis of competitive intensity and how the competition will take shape in coming years
Questions Answered in the Report
- Who are the leading market players active in the e-cigarette and vaping market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
E-Cigarette and Vaping Market Report Highlights
By Product Type
By End User
By Distribution Channel
Key Market Players
Nicotek LLC, VMR Products LLC, International Vapour Group, Altria Group Inc, Japan Tobacco Inc, Imperial Tobacco Group, Philip Morris International Inc, British American Tobacco Plc, MCIG Inc., ITC Limited