Global E-Cigarette Market 2020-2024 | Evolving Opportunities with Altria Group Inc. and British American Tobacco Plc | Technavio
LONDON--(BUSINESS WIRE)--Feb 6, 2020--
The e-cigarette market is poised to grow by USD 29.53 billion during 2020-2024, progressing at a CAGR of over 17% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled global e-cigarette market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on “E-Cigarette Market Analysis Report by Product (Modular e-cigarette, Next-generation products, Rechargeable e-cigarette, and Disposable e-cigarette), Geography (North America, APAC, Europe, South America and MEA), and the Segment Forecasts, 2020-2024.”
The market is driven by the increasing availability of e-cigarettes across various distribution channels. Also, the rising application of e-cigarette as a smoking cessation tool is anticipated to boost the growth of the e-cigarette market.
E-cigarettes are available through distribution channels such as supermarkets, hypermarkets, online platforms, and specialized retailers. Walmart, Sainsbury’s, ASDA, and Tesco are some supermarkets and hypermarkets that offer e-cigarettes. Supermarket chains across regions have started offering e-cigarettes. Also, the number of vape shops in the US and the UK is rising. Vape cafés, which allow customers to smoke e-cigarettes, are also increasing in popularity in the UK. In 2016, it was estimated that nearly 800 vaping shops opened in the UK, and the total number of vaping shops across the UK crossed 2,000 in 2017. Thus, the increasing availability of e-cigarette across various distribution channels is expected to drive the growth of the market.
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Major Five E-Cigarette Companies:
Altria Group Inc.
Altria Group Inc. has business operations under various segments, such as smokeable products, smokeless products, and wine. The company offers e-cigarettes under the brand name IQOS. In April 2019, the company launched the IQOS tobacco device in the US.
British American Tobacco Plc
British American Tobacco Plc operates its business under four segments, such as US, APME, AMSSA, and ENA. The company offers e-cigarettes under the Vype, Vuse, and VIP brands. It offers HNB products such as glo and neo. In November 2019, the company announced that it had signed an enhanced partnership deal with McLaren Racing Ltd.
Imperial Brands Plc
Imperial Brands Plc has business operations under two segments, such as tobacco and NGP, and distribution. The company offers e-cigarettes under the brand name blu.
Japan Tobacco, Inc.
Japan Tobacco Inc. operates the business through international tobacco, Japanese domestic tobacco, processed food, and pharmaceutical. The company offers e-cigarettes under the brand, Logic and it offers heated tobacco products under the brand, Ploom.
JUUL Labs, Inc.
JUUL Labs Inc. has business operations under two segments, such as JUUL Device and JULLpods Basics. The company offers e-cigarette under the brand, JUUL.
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E-cigarette Product Outlook (Revenue, USD Billion, 2020-2024)
E-cigarette Regional Outlook (Revenue, USD Billion, 2020-2024)
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PUB: 02/06/2020 11:30 AM/DISC: 02/06/2020 11:30 AM