P&S-Intelligence..jpg
Source: P&S Market Research

E-Cigarette Market to Reach $48 Billion by 2023: P&S Market Research

NEW YORK, Jan. 02, 2018 (GLOBE NEWSWIRE) -- According to the report published by P&S Market Research, the global e-cigarette market is forecasted to attain a value of $48 billion by 2023.

The growth in the market will be led by factors such as increasing demand for smokeless and ashless vaping and surge in the number of vape shops and designated stores.

The e-cigarette market can be broadly categorized into cig-a-like, vaporizer, vape mod, t-vapor, and aftermarket product types. The market for t-vapor is projected to witness the fastest growth, of around 60%, during the forecast period. T-vapor is comparatively a new category that uses real tobacco. T-vapor products are sold in two versions: heat-not-burn and infused. Cig-a-like can further be categorized into disposable and rechargeable types, while vaporizer can be segmented into open tank and closed system types. The aftermarket products include batteries and chargers, and cartridges.

Access Report Summary with Detailed TOC on “E-Cigarette Market” at: https://www.psmarketresearch.com/market-analysis/e-cigarette-market

The major channels of distribution are vape shops, supermarkets, online, and tobacconists. Among these channels, vape shops are estimated to generate the highest revenue for the e-cigarette market in 2017.

Asia-Pacific is the region offering ample growth opportunities for the vendors. Large population coupled with increasing urbanization has been propelling the demand in the region. China has been the forerunner in the regional e-cigarette industry, with an estimated 40.3% share in 2017. After the U.S. and the U.K., China is estimated to be the third largest e-cigarette market globally in 2017, which is further expected to grow during the forecast period.

On the basis of a survey conducted by the Chinese Center for Disease Control and Prevention in 2014, 45% of students aged 13–15 years had heard of e-cigarettes and 1.2% had used them in the preceding 30 days. It has been observed that for every 1% consumer shift from combustible cigarettes to its less harmful counterpart, the market for latter in the country increases by almost $5 billion. Advertisement campaigns have been educating the consumers about the benefits of switching from combustible cigarettes to its less harmful alternative, consequently driving the e-cigarette market in the country.

Request to Get the Sample Pages at: https://www.psmarketresearch.com/market-analysis/e-cigarette-market/report-sample

Competition in the e-cigarette industry is being restructured with every major merger and acquisition taking place. British American Tobacco (BAT), Japan Tobacco Inc., Altria Group, Imperial Brands, and NJOY LLC have been the major players involved in inorganic expansion. In July 2017, BAT completed the acquisition of Reynolds American Inc. to enhance its tobacco and t-vapor product portfolio. BAT has recently showed interest in acquiring the South African company Twisp to expand its next-generation product offerings in South Africa. Imperial Brands, on the other hand, acquired the U.K.-based vaping products company Nerudia to enhance its next-generation product portfolio.

More Reports by P&S Market Research

Smart Lighting Market - https://www.psmarketresearch.com/market-analysis/smart-lighting-market

Hospital Lighting Market - https://www.psmarketresearch.com/market-analysis/hospital-lighting-market

About P&S Market Research

P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries.

With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication. Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions.

Contact:

P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Connect with us: LinkedIn | Twitter | Google + | Facebook