Global Covid-19 Impact on E-Cigarettes and Vaporizer Market is majorly driven by the factors such as the presence of established brands, cost-effectiveness, perceived health benefits, and product customizations. Globally, the consumption of tobacco has become a critical issue despite of several government initiatives to increase the awareness about the health issues caused by consuming tobacco. Consumers addicted to tobacco find it difficult to get rid of the addiction and would require an alternate to tobacco. This has turned out to be one of the major drivers for the growth of the E-Cigarettes and vaporizer market globally. Alarming health issues caused due to the addiction of tobacco is the main driver to promote growth in the market. Growing number of cancer patients due to excessive consumption of tobacco worldwide is one of the major reasons that prompted the addicts to get rid of it. However, several people find it difficult to succeed to do so and hence prefer e-cigarette over conventional cigarettes this in turn has resulted in to people switching from conventional cigarettes to e-cigarettes over the past couple of years.
Although there are no major side effects known, a very few of customers have reported with the allergic symptoms to PG which simply causes some irritation in the throat. All known side effects are typically associated with cigarette withdraw and not with E-Cigarettes & Vaporizer devices. These negligible side effects coupled with factors such as, increasing incidents of e-liquid poisoning, uncertain regulatory framework and the high costs associated with these devices may hamper the market growth during the projected period.
Leading Key Players Update
Companies are in the process of capturing & solidifying their share of the Covid-19 Impact on E-Cigarettes and Vaporizer Market segment, by competing and experimenting with various advantage points. The entry of new industry players in the segment has initiated a trend of volume-driven growth that has been observed to intensify with the addition of new and advanced products. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
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Few of the major players in Global Covid-19 Impact on E-Cigarettes and Vaporizer Market include Dash Vapes, Hubbly Bubbly, Liquideu, Uff Ecig, Simple Vape Co., Nice Vapor and Pacific Smoke International. Growing awareness about ill-effects of tobacco together with consumers’ rising preference for e-cigarette over conventional cigarettes to quit tobacco has driven the market in North America and Europe over the past few years.
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Global Covid-19 Impact on E-Cigarettes and Vaporizer Market is segmented in to 2 dynamics for the convenience of the report and enhanced understanding.
Segmentation By Product Type: Comprises Disposable E-Cigarette, EGO and Tanks, Rechargeable E-Cigarette, Personal Vaporizers and Mods and Others.
Segmentation by Regions: Comprises Geographical regions – Europe, North America, APAC and Rest of the World.
Disposable e-cigarettes have accounted for the largest market size by product type in 2015 accounting for nearly 30% of the market size closely followed by rechargeable e-cigarette.
Personal vaporizers will grow at a CAGR over 23.5% through the forecast period
Currently, North America is the largest consumer of E-Cigarettes & Vaporizer in the world market. It is closely followed by Europe. Although, China began as the first market for E-Cigarettes & Vaporizer, the U.S. and developed markets from Europe became the prime consumers of E-Cigarettes & Vaporizer, due to which these two regions collectively account for over 80% of the world market. APAC will be growing at the fastest CAGR, accounting for more than 20% of the global e-cigarette market value by 2021. Significant revenue flow will be observed from China and India over the forecast period.