The market continues to effectively flourish, having crossed the $4.8 billion mark in 2014
Minneapolis, MN (PRWEB) August 10, 2015
The percentage of conventional cigarette smokers has hit an all time low on a global scale, stemming either from its escalating cost, or an increased awareness about potential health hazards among smokers. “Leveraging on the declining population of smokers, the global e-cigarette market is standing at a point of influx, wherein a flurry of market developments, increasing customization in products, and entry of a large number of players have brought about a surge in the global demand of vaporizers and e-liquid” says Mohammad, CEO at BIS Research. In spite of facing intense rivalry from Big Pharmaceutical and the apparent exposure to stringent regulations and hefty taxes, the market continues to effectively flourish, having crossed the $4.8 billion mark in 2014, an estimate by BIS Research in its report titled-“Global Electronic Cigarette and Vaporizer Market”, published in May 2015.
Since the acquisition of Blu by one of the tobacco giants Lorrilard in 2012, there have been significant shifts in the market positions of leading e-cigarette brands. While Blu dominated the global market with consolidated revenues from SkyCig (now Blu Ecigs) till Q3 2014, Vuse from R.J. Reynolds grabbed the top position by Q2 2015. Brands such as V2Cigs and NJOY have gathered a wider consumer base and have made place in the top 10 e-cigarette brands globally with Nicocigs, 10 Motives, E-Lites, and Vype
The global e-cigarette market value for the quarter ended in June 2015 was over $664.73 million, excluding the sales from the online distribution channel. Blu has been identified to record a declining market share since Q2 2014. It currently stands at the second position with a market share of around 7.2% of the global e-cigarette market, right after Vuse which as per Q2 2015 had a market share of approximately 13%. MarkTen, V2Cig, and NJOY are in close competition with market shares of roughly 4% each. Brands operating under Electronic Cigarette International Group (ECIG) and BAT have also acquired a position in the top 10 e-cigarette brands globally with 10Motives and Vype.
The analysts at BIS Research maintain that the annual electronic cigarette market value in the U.S. and Europe by the year 2025, is expected to grow over $20.17 and $17.02 billion respectively. Despite of being home to large scale companies such as First Union and Smoore, the APAC region contributes a paltry 9.8% to the overall e-cigarette market revenue as of second quarter of 2015. However, this scenario is anticipated to change since China, which is the highest consumer of tobacco worldwide, has been working upon formulating rigorous laws to limit the exponential growth of tobacco industry in the country. This will eventually lead to smokers switching sides from conventional cigarettes to e-cigarettes.
With a thoroughly structured compilation of expert inputs and our experienced teams of analysts, BIS Research has published 4 extensive market intelligence reports. While the “European Electronic Cigarette & E-Vapor Market, 2015-2025” and “The U.S. Electronic Cigarette & E-Vapor Market, 2015-2025” market reports consolidate the market trends in the respective regions, the global report is a broader collection with a detailed segment dedicated on the legal and regulatory framework, consortium, and compliances in the e-cigarette industry.
Furthermore, “The U.S. E-Liquid Market and Europe E-Liquid Market reports” provides extensive insights into the U.S. and Europe E-liquid market analyzing the same through supply mode (pre-packaged and bottled e-liquid), distribution channels (on-line and retail), and source of origin (Local or Imported). The report is also an exhaustive and profound source of information regarding the e-liquid pricing analysis and the buyer’s requirement in the U.S. and Europe Market. All the reports are subsequently aided by a detailed ‘patent summary’, in order to understand the current prevalent technological trends in the industry.
The e-cigarette market is being balanced on staggering controversies from advocates fighting for and against the health effects of e-cigarettes. Where, on one hand, a certain group of regulatory bodies and agencies are of the opinion that e-cigarettes might act as a gateway to conventional smoking for teenagers; on the other hand, several scientific studies have substantiated the less harmful effects of e-cigarettes in comparison to combustible cigarettes. The team of analysts at BIS Research believes that e-cigarette market players and other participants should not claim superiority over conventional cigarettes in the existing paucity of quantifiable evidence in favor of e-cigarettes contributing in smoking cessation.
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