市場調查報告書
商品編碼
1446333
電子煙市場評估:按產品類型、類別、系統類型、風味、成分、營運方式、價格範圍、分銷管道和地區劃分的機會和預測(2017-2031)Electronic Cigarettes Market Assessment, By Product Type, By Category, By System Type, By Flavor, By Composition, By Mode of Operation, By Price Range, By Distribution Channel By Region, Opportunities and Forecast, 2017-2031F |
全球電子煙市場規模將從2023年的331億美元成長到2031年的892.5億美元,2024年至2031年的預測期內複合年增長率為13.2%。預計將會成長。
市場近年來取得了顯著的成長,預計未來將保持強勁的擴張速度。
市場成長的推動因素包括消費者生活方式的改變和壓力的增加,以及以低成本提供各種產品和各種口味,且對健康的負面影響較小。預計將提供支持。 此外,越來越多的年輕人喜歡吸菸也推動了電子煙市場的需求。
促進市場成長的其他因素包括勞動力的快速成長、千禧世代對同儕的影響、個人可支配收入的增加、社群媒體的影響以及技術進步。 這些因素將提振電子煙的需求,對市場產生正面影響。
工作人口的增加導致電子煙普及率迅速上升
由於各種原因,工作人口的增加導致電子煙需求激增。 隨著消費者的生活方式以工作和辦公室為中心,上班族的焦慮和壓力水平不斷增加,導致尼古丁成為一種緩解壓力的藥物,有助於讓消費者平靜下來,消費量也在增加。
此外,工作場所的社會環境(吸菸時間很常見)也會灌輸非吸菸者尼古丁習慣。 工人階級可支配所得的增加也進一步推動市場成長。
本報告調查了全球電子煙市場,提供了市場定義和概述、市場規模趨勢和預測、各個細分市場和地區的詳細分析、行業結構以及影響市場成長的因素分析。、案例研究、競爭格局、主要公司簡介等等。
Global electronic cigarettes market is projected to witness a CAGR of 13.2% during the forecast period 2024-2031, growing from USD 33.1 billion in 2023 to USD 89.25 billion in 2031. The market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years.
Factors like consumers' changing lifestyles and increase in stress, along with varied product offerings and availability of different flavors at low cost and lesser negative health effects are expected to boost the market growth. Also, the rising number of youths who prefer smoking tobacco drives the demand in the electronic cigarettes market.
Other factors that contribute to the growth of the market are the surge in the working population, peer influence on millennials, increase in personal disposable income, influence of social media, and technological advancements. These factors result in the positive trajectory of the market, boosting the demand for electronic cigarettes.
To cater to the high demand of consumers, the manufacturers are bracing themselves and strategically making agreements and launching new products to keep their places secure in the market. For instance, in March 2023, Altria Group, Inc., maker of Marlboro, bought electronic cigarette startup company NJOY for approximately USD 2.8 billion to strengthen its smoke-free product business. The announcement surfaced soon after Altria Group, Inc. exited its complete stake in e-cigarette producer, Juul Labs. Altria Group, Inc. acquired Juul Labs in 2018, with the stake valued at USD 12.8 billion.
Growing Working Population Leading to a Surge in the Popularity of E-Cigarettes
The growth in the working population has contributed to a surging demand for electronic cigarettes due to various reasons. Since consumers' lifestyles revolve around work and offices, anxiety and stress levels are increasing among the working people, which results in the growing consumption of nicotine which is a stress relieving agent and helps calm the consumers.
Moreover, the social environment of the workplace, where smoking breaks are very common, influences the non-smokers, to inculcate the habit. The rise in disposable income among the working class further fuels the growth of the market. Marketing strategies targeting working professionals play a very crucial role in promoting smoking as a lifestyle choice. As the working population expands, the market for cigarettes is creating a surge in demand and helping the market expand.
For instance, in November 2022, Imperial Brands PLC launched a new range of disposable vapes under the Blu banner. It is a collection of compact, small pocket-sized vapes, each consisting of 20 mg of nicotine in a 2 ml liquid, giving around 600 puffs. These vapes have an LED indicator that lights up whenever the product is in use. The product is retailed in the market for USD 5.99. It was launched in flavors including banana, mango, watermelon, peach, and strawberry.
Peer Influence Among Millennials are Boosting the Market
Peer influence among millennials has contributed to a surge in demand for electronic cigarettes. Social environment, desire for acceptance, and fear of missing out push non-smokers to start smoking. Thus, influenced by peers, non-smokers tend to normalize smoking. Millennials often associate stress relief with cigarettes and the influence of social media further amplifies the trend. Consequently, the urge for social acceptance and peer pressure influence fuels cigarette consumption among millennials, expanding the growth of the market in the coming future.
Key players are taking advantage of the situation and innovating and promoting their products to attract consumers towards their businesses. For instance, British American Tobacco PLC announced the launch of latest version of its vaping devices, Glo range in January 2024. The Glo Hyper Pro offers better performance compared to the previous versions. The latest version takes a charge of about 90 minutes for an all-day output. Once fully charged, the consumers can expect to use the device for around 20 sessions. The new Glo range is available in Japan, Italy, and Poland, with further global expansion planned by the company in 2024.
Alarming Health Effects Curb the Growth of the Market
Cigarette consumption poses severe health risks, adversely affecting consumers' health in many ways. The inhalation of tobacco smoke introduces harmful chemicals into the respiratory system of an individual. Chronic exposure damage and lung tissues are leading to conditions, like chronic obstructive pulmonary disease (COPD) and emphysema, restricting respiratory function and causing permanent coughing.
The cardiovascular system suffers a lot. Nicotine and other toxins in cigarettes increase blood pressure and heart rate, contributing to atherosclerosis, increasing heart attacks strokes, and risks. Moreover, the carbon monoxide in tobacco smoke reduces the blood's oxygen-carrying capacity, straining the heart from proper oxygen supply.
Additionally, cancer caused by smoking cigarettes is very common. Lung cancer is the most common, smoking cigarettes causes cancers of the mouth, throat, esophagus, pancreas, bladder, and other body parts. The carcinogens in tobacco damage DNA, leading to the development of malignant cells.
Beyond these well-known risks, smoking accelerates aging, causing premature wrinkles and skin damage due to reduced blood flow. Reproductive health is compromised by smoking, with an increase in infertility and pregnancy complications. Passive smoking affects non-smokers, causing respiratory and cardiovascular risks.
Thus, cigarette consumption puts a devastating toll on health, impacting nearly every organ system and contributing significantly to uncurable diseases and premature mortality. Efforts to curb smoking remain crucial for public health and well-being.
Technological Advancements Help in the Growth of the Market
Manufacturers are continuously gazing towards technological advancements in e-cigarettes, which has led to a surge in demand. Innovations like adjustable wattage, temperature control, and sleek designs enrich the experience of the consumers, replicating traditional smoking without the harmful effects. Also, advancements in battery efficiency and flavor customization attract diverse consumers and cater to their dynamic preferences. The integration of smart technology, such as Bluetooth connectivity and app-controlled features, further attracts tech-savvy consumers. The continuous evolution in the industry ensures the creation of safer alternatives to conventional smoking and creates a wide market, driving the high demand for e-cigarettes. As manufacturers refine and expand these technologies, the trend of the latest and modern options and customizable vaping experiences is expected to continue to propel the growth of the market.
In November 2023, VOOPOO launched its advanced technology developed products in the electronic cigarette market. The company released VOOPOO DRAG X2, DRAG S2 and the PnP X platform to revolutionize the consumers' vaping experiences. The product provides consumers with clean, joyous, and smooth vaping experience through its compact device, containing 100 mL of e-liquid without the fading of flavor and burning of the coil. The e-liquid in the device comes in two flavours, namely, coffee and tobacco, in the freebase+nic salt type.
Future Market Scenario (2024 - 2031F)
With the growing work pressure, stressful lives, rise in mental traumas, and increasing peer influence and trends, the market will continue to expand in future with great heights. For the same reasons, an enormous increase in demand for electronic cigarettes will come from people of 15-64 years of age.
Many tobacco alternates will be seen in the market to cater to the non-smokers as well and expand the market for a greater base of audience.
Key Players Landscape and Outlook
Key participants in the electronic cigarettes market are driving the growth of the market through product innovation, technological advancement, and strategic partnerships. The manufacturers are innovating and launching new products to cater to the dynamic needs of the consumers.
In July 2023, Japan Tobacco Inc. launched With 2, under its brand 'With'. Its latest electronic cigarette is world's first tobacco infused vapor device, featuring the company's unique vapor technology. It generates vapor during an atomized liquid passing through a capsule consisting granulated tobacco. The product consists of a dual mode which allows the consumers to switch conveniently between two heating modes through a touch button. The normal mode produces 1.3 times less vapor than the high mode, delivering a less intense flavor in the former. The product was sold at the Japanese tobacco and convenience stores in beginning of September 2023, and was made available for online presale from August 2023.
Further, in October 2022, Japan Tobacco Inc. and Altria Group, Inc. announced a joint venture to commercialize and market their latest Heat-not-Burn product (Heated tobacco sticks), with Ploom and Marlboro branded devices in the United States market. Japan Tobacco Inc. believes that the newly incorporated partnership through a long term MOU will help in supporting its strategic aim to build a presence globally in reduced risk products (RRPs) and create a space for themselves in the e-cigarette market through a keen focus on their jointly developed heated tobacco sticks.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.