On an individual level, e-cigarettes are probable less harmful to a user than of a traditional cigarette, but extra research is required about the effects of e-cigarettes, long-term significances of use, and components. Public health specialists are anxious that e-cigarette use might renormalize smoking, suspension or avoid cessation attempts, encourage youth use, and lure former smokers back obsessed by nicotine addiction. Moreover, prosperous industry is progressively run by tobacco companies the same companies that have extended encouraged dangerous products over consumer health. On the other hand, several believe that e-cigarettes signify the greatest hope for a troublesome technology which can initiate the end of outdated smoking, safeguarding millions of lives from the Tobacco and nicotine consumptions. The changing life style of people across the globe and shifting focus of smokers towards vaping instead of smoking is one of the major factors that is uplifting the market. In 2015 around 1.4 billion people were smoking tobacco cigarettes which is around 20% of the world population. Whereas, around 12% of the world population is smoking e-cigarettes in 2015 which is expected to rise to 18% by the end of 2025. Various benefits such as healthier alternative which safeguard from various chronic diseases, no passive smoking, etc. are boosting the consumption of the e-cigarettes across the globe. In 2015, around 2.5 million high school students are smoking e cigarette in US only. Which is expected to rise to 4 million by the end of 2022. The FDA is banned the sales of e cigarettes to school children because of the e cigarettes is only 95% safer and more clinical trials is being going on which is expected to hamper the growth of the global e cigarette market. Various e-cigarette manufacturers are investing huge amount on research and development to develop new technology and flavour in the e-cigarette market. British American Tobacco (BAT) has invested more than $580 million in past 3 years to develop innovative nicotine and tobacco products. Moreover, growing demand from emerging countries and growing supportive government regulation to create smoke free environment across the world is creating huge opportunity in the global e-cigarette market. The major driver of E-cigarette is the Increasing research and development in the market. Moreover, companies are constantly looking for product innovations. More emphasis is given on vaping products which doesn’t contain any kind of tobacco and nicotine in e-cigarette. The growing development in new technologies in flavour and security of using e-cigarettes has led to a tremendous growth in e-cigarette consumption. However, the price of the e-cigarette is one of the major factor that is hampering the growth in the global market.
The global E-Cigarette market is estimated to register robust growth and is expected to grow at CAGR of 25% during 2016-2022. The E-Cigarette market is segmented on the basis of type, flavour and geography. The type segment is segmented into mini e-cigs mid-size e-cigs & vape pens, and APVS or MODS. The Flavour segment is segmented into Fruit, Menthol, Tobacco and others flavours. The flavour segment is expected to hold the largest market share in 2015 owing to huge investment by the companies to develop new flavours and liquid in the market. There are various flavors in fruit segment such as orange, kiwi, apple and many more. Apart from all such there are most common other flavours which are chocolate, cardamom, and others. Currently there are more than 5000 flavours are available in the global market which is growing rapidly every year. thus, the growing innovations in the e-cigs flavours is increasing the growth in the global market.
On the basis of geography North America, Europe, Asia Pacific and ROW are the major segments. The North America hold the largest market share and dominate in the global market followed by Europe, Asia Pacific and ROW in the global E-Cigarette market. The growth in North America market is majorly driven by the growing concern for controlling tobacco activities, rising technological development and growing support from FDA is increasing the growth in the North American region. In 2015 the FDA has initiated that the they will expand and promote the healthier alternative to create smoke free nation. Due to huge consumption by the school children’s the FDA in 2016 banned the sale of e cigarettes to the school children’s. The Asia pacific e-cigarette market is expected to grow with an impressive CAGR during the forecasted period 2016-2022. The growth in the region is mainly driven by massive expenditure done by country such as India and China for the development of new technology in the region that is creating huge growth opportunity for e-cigarette market in the Asia Pacific region. The growing concerns for healthy life and rising concerns among people to leave smoking tobacco is also increasing the growth in the global market.