Electronic Cigarettes are also known as Vaping, which consist of different type of devices that allow the users to inhale an aerosol that might be nicotine, flavoring and other species. Electronic Cigarettes market is expected to mark significant growth over forecasted period owing to increasing technological advancements, change in lifestyle and consists of various flavours and fragrance. There has been significant rise in number of prevalence of adults using e-cigarettes with figure stood up to 60% in United States, Russia and Germany in 2018, the future for Electronic Cigarettes looks promising. This result in rising health concerns among the smoking population and escalating cost effectiveness of disposable models for Electronic Cigarettes popularity may trigger demand and help in industry expansion.
According to AMA, the Global Electronic Cigarettes market is expected to see growth rate of 8.17% and may see market size of USD18120.0 Million by 2024.
Global Electronic Cigarettes Market Report from Advance Market Analytics (AMA) covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies for this market. The market characteristics section of the report defines and explains the market. The market size section gives the electronic equipment market revenues, covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external factors supporting and controlling the growth of the market. Market segmentations break down the key sub sectors which make up the market. The regional breakdowns section gives the size of the market geographically.
Major Key Players in This Report Include,
British American Tobacco plc (United Kingdom), Altria Group Inc. (United States), Japan Tobacco Inc. (Japan), Imperial Brands plc (United Kingdom), Philip Morris International Inc. (United States), VMR Products LLC (United States), NJOY Inc (United States), International Vapor Group (United States), Hub International, Inc. (United States) and FIN Branding Group LLC (United States)
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Market Drivers
- Increase Number of Vape Shops and Designated Stores Boost the Electronic Cigarettes Market.
- Rapid Demand of Eco-Friendly and Social Acceptability Fuelled up the Electronic Cigarettes Market.
Market Trend
- Increasing demand of Electronic Cigarettes at developed countries.
- Value Oriented Customers.
Restraints
- Implementation of Strict Government Regulations Hampers the Electronic Cigarettes Market.
- Health Hazardous Diseases Associated With in Electronic Cigarettes Market.
Opportunities
- Consumers Shifted towards Tobacco Alternatives that leads to grow the Electronic Cigarettes Market.
- Huge Investments and Franchising By Major Players.
Challenges
- Limitation on Increasing Lobbying by Pharmaceutical Players are Anticipated to Challenge the Market.