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Vape Market - Global Outlook and Forecast 2020-2025

March 2020 | 335 pages | ID: VC46D87CD689EN
Arizton Advisory & Intelligence

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The global vape market is expected to grow at a CAGR of over 14% during the period 2019–2025.

The vape market is witnessing a shift from smoking to vaping. Veteran vapors and heavy smokers have started to switch to bulky vapor mods. It is expected that the vapor products market would be driven further by VTMs and personal vaporizers during the forecast period. Disposables and rechargeable e-cigarettes are witnessing a decline in their revenue as well as popularity worldwide as VTMs offer flexibility in terms of filling e-juices and are proving cost-effective in the long run. Unlike disposables and rechargeable e-cigarettes that can be refilled only with the company’s own brand of cartridges, VTMs, and personal vaporizers can be refilled with e-juices produced by any company. Hence, vaping is substantially cost-effective in the long run than traditional tobacco cigarettes and disposables/rechargeable e-cigarettes, which is expected to affect the market during the forecast period.

Another important reason for the popularity of vapor products is the availability of different flavors in the market. The market has been witnessing the introduction of new flavors and their blends regularly, which, in turn, has been driving the growth. However, e-liquids with flavors of fruits, beverages, and sweets have been gaining share over traditional tobacco flavor. Further, many countries, such as Australia and Canada have banned nicotine-loaded vapor products. Thus, e-liquids with a variety of flavors containing zero nicotine have become popular among vapers.

The following factors are likely to contribute to the growth of the vape market during the forecast period:
  • Shift from Smoking toward Vaping
  • Increased Market Consolidation
  • Increasing Availability of Variety of E-juices
The study considers the present scenario of the vape market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent companies operating in the market.

Vape Market: Segmentation

This research report includes a detailed segmentation by E-vapor, HnB tobacco, distribution, and geography. E-liquids were the largest revenue-generating product category of the global vape market in 2019. The major reason behind high market shares can be attributed to the increased proliferation of Vapor/Tank/Mods (VTM). North America is expected to hold the largest share during the forecast period due to growing technological advancements, developed GDP, increasing manufacturers, and rising demand for e-liquid from this region is surging the growth.

Open tanks systems started to gain popularity among end-users in 2014 when the global e-vapor market faced an influx of private label products, and vaping enthusiasts started demanding strong vaping experience. However, VTMs are more prevalent in European countries such as Italy, France, Spain, Germany, and the UK, where the penetration has crossed 50% mark. The existing demand in the US, Italy, and the UK, along with growing demand from Poland, China, and Russia, will propel the growth during the forecast period.

Cig-a-likes are the first generation of e-cigarettes designed to mimic traditional cigarettes. The advent of closed tanks systems and VTMs has affected the sale of cig-a-likes since 2014. Further, a weak battery power, along with low vapor-producing capacity, leads to dissatisfaction among end-users. Thus, the demand started to decline. However, with the introduction of modern-day cig-a-likes such as the one by V2 Cigs (V2 Cigs EX series), cig-a-likes are started to witness growth.

The HnB market is growing rapidly across the globe. APAC is the largest market for HnB products, followed by Europe. The APAC region enjoys a larger share because of the large smoking population and continuous shift toward smoking innovative products. Besides, South Korea, Italy, Russia, and the Czech Republic are the robust market for heat-not-burn products. HnB products are getting popular with the shift in social culture and increasing health consciousness among people. The rise in demand for these products has enabled companies to bring innovations in products and spend more on promotion. The industry is also growing quickly in Europe, especially the UK, Italy, Poland, and France. The market value of heat-not-burn products is expected to grow twice in Western Europe than Eastern Europe. Although the heat not burn market share is minuscule compared to cigarettes, they are expected to witness significant growth during the forecast period. The market size for HnB tobacco consumables is expected to grow at a CAGR of over 20% during the period 2019–2025.

The distribution environment is rapidly evolving, with systems and processes being upgraded at a rapid pace. Changes are spurred by expanding competition, accelerating digitization, constant disintermediation, and consumerization of expectations. B2B commerce is witnessing the increase in expectations that are associated mainly with B2C, such as transparent pricing and communities and social connections. This is expected to continue during the forecast period the focus on lowering costs, improving efficiencies, and opening up to new opportunities. With the vapor products market being highly consumer-and community-centric, distributors are increasingly focusing on extending their reach to vape stores and local outlets. E-vapor products are also available to end-users through online OEMs’ e-commerce portals and online direct-to-consumer stores. In 2019, retail sales constituted over 70% of the distribution model, and online stores constituted the rest. The increased demand from retailers, dealers, and consumers for a multi-channel approach and support is driving the growth of the segment.

Market Segmentation by E-vapor
  • E-liquids
    • Pre-filled Cartridges
    • Refill Bottles
  • Open Tanks Systems
  • Closed Tank Systems
  • Cig-a-likes
    • Disposables
    • Rechargeables
  • Consumables
    • E-cigarettes Batteries
    • Atomizers/cartomizers/clearomizers
Market Segmentation by HnB Tabacco
  • HnB Devices
    • Direct/Indirect Heating
    • Hybrid/Infused
  • HnB Consumables
    • Tobacco Sticks
    • Tobacco Capsules and Cartridges
Market Segmentation by Distribution
  • Retail
    • Convenience Stores
    • Vape Stores
    • Tobacco Stores
    • Grocery Stores
    • Drug Stores
    • Others
  • Online
Insights by Geography

The global vape market is growing at a tremendous rate. The US vapor market is consistently increasing after the authorization of the sale of HnB products by the FDA in the country. This is expected to help North America to increase its share as smokers in the US are becoming health conscious. One of the major influencing factors propelling growth is the increasing availability of vapor products in vape shops and over the internet.

Europe captures more than a 33% share of the revenues. Poland, Germany, Italy, Russia, and the Czech Republic are the major contributors to the European market. Poland has been witnessing tremendous growth, with the revenue increasing from $130 million in 2014 to $542.6 million in 2016. The growth can be attributed to heavy taxation on traditional tobacco cigarettes and the presence of low-cost vapor products in the country.

The popularity of vapor products in the Middle East and Africa is low. However, large tobacco companies are using their worldwide retail outlets to enter the markets to exploit the untapped potential. Latin America has a low penetration of HnB and vaping products due to rigid government regulations. In countries such as Uruguay, Paraguay, Chile, Brazil, Argentina, Colombia, Mexico, Venezuela, and Panama have put a complete ban on the sale of e-cigarettes. However, large tobacco companies are investing in several regions, such as Paraguay, Chile, and Brazil, to expand their presence. Thus, the increased awareness of vapor products in the market and the expansion of large tobacco companies are expected to drive revenues in the region.

Market Segmentation by Geography
  • Europe
    • UK
    • Poland
    • France
    • Spain
    • Italy
    • Germany
    • Russia
    • Romania
    • Czech Republic
  • APAC
    • China
    • Japan
    • South Korea
    • Australia and New Zealand
    • Malaysia
  • North America
    • US
    • Canada
  • MEA
    • Egypt
    • South Africa
    • UAE
  • Latin America
Insights by Vendors

The competitive scenario in the global vape market is currently intensifying. The rapidly changing technological environment could adversely affect vendors as continual innovations and upgrades are the characteristics of this market. The present scenario is driving vendors to change and refine their unique value proposition to achieve a strong presence. The market is highly fragmented, with over 300 vendors that operate and sell e-cigarettes under different brand names across the world. Before the entry of major tobacco players in the vaping domain, small companies are engaged in the supplying e-cigarettes. The entry of large tobacco companies poses a significant threat to small vapor products’ vendors. Large companies such as Philip Morris International, Altria Group, British American Tobacco, Imperial Tobacco, and Japan Tobacco International are all set to explore the market worldwide.

Key Vendors
  • Altria Group
  • British American Tobacco (BAT)
  • Imperial Brands
  • Japan Tobacco International (JTI)
  • Philip Morris International (PMI)
Other Vendors
  • RJ Reynolds Vapor Company (RJRVC)
  • Ballantyne Brands
  • CB Distributors
  • ECIG (Formerly known as Victory Electronic Cigarettes)
  • Gamucci
  • Gilla
  • International Vapor Group
  • Joyetech Co.
  • KangerTech Technology
  • Mainstream Cannabis Innovations Group (mCig Group)
  • Nicotek
  • NJOY
  • PAX Labs
  • RR Chemicals
  • Totally Wicked E-liquid
  • Vape Holdings
  • Vapor Hub International
  • VPR Brands
  • White Cloud (Leads by Sales)
  • XEO International
  • KT&G (Korea Tomorrow& Global Corporation)
  • Shenzhen AVBAD Technology Company Ltd.
  • Vapor Tobacco Manufacturing
  • Shenzhen Royal Tobacco Industrial Limited (Royal Tobacco)
  • Jouz
  • Shenzhen Yukan Intelligent Technology Co. Ltd.
  • Sichuan China Tobacco Industry Co. Ltd.
  • Marvel International Tobacco Group
Key Market Insights

The analysis of the vape market provides sizing and growth opportunities for the forecast period 2020–2025.
  • Offers sizing and growth prospects of the market during the forecast period
  • Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market
  • Includes a detailed analysis of growth drivers, challenges, and investment opportunities
  • Delivers a complete overview of segments and the regional outlook of the market
  • Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage
1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 Market Definition
  4.1.1 Inclusions
  4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segments
  4.4.1 Product
  4.4.2 Distribution Channel
  4.4.3 Market Segmentation by Geography

5 REPORT ASSUMPTIONS & CAVEATS

5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Terminologies
5.4 Pricing Assumptions
5.5 Market Size Derivation

6 MARKET AT A GLANCE

7 INTRODUCTION

7.1 Overview
7.2 Working Mechanism of Vape Product Systems
  7.2.1 E-vapor Products
  7.2.2 HnB Tobacco Products
7.3 E-Liquids
  7.3.1 Ingredient Overview
  7.3.2 Vegetable Glycerin (VG)
  7.3.3 Propylene Glycol (PG)
  7.3.4 Flavorings
  7.3.5 Nicotine
  7.3.6 Distilled Water
7.4 Macroeconomic Factors Enabling Market Growth
  7.4.1 Economic Development
  7.4.2 Per Capita GDP in Developing Markets
  7.4.3 Dual-income Households in Developed Markets

8 MARKET DYNAMICS

8.1 Market Growth Enablers
  8.1.1 Shifting Consumer Perception of Smoking Combustible Cigarettes
  8.1.2 Increasing Availability of Variety of E-Juices
  8.1.3 Growing Distribution Network
8.2 Market Restraints
  8.2.1 Stringent Government Regulations
  8.2.2 Increasing Protectionist Directives and Measures
  8.2.3 Increased Concerns over Vaping Effects on Human Health
8.3 Market Opportunities And Trends
  8.3.1 Shift from Smoking toward Vaping
  8.3.2 Increased Market Consolidation
  8.3.3 Increasing Marketing & Promotional Efforts

9 VALUE CHAIN ANALYSIS

9.1 Overview
9.2 Value Chain Analysis
  9.2.1 Raw Materials Suppliers
  9.2.2 Manufacturers
  9.2.3 Dealers/Distributors/Retailers
  9.2.4 End-users

10 MARKET LANDSCAPE

10.1 Market Overview
  10.1.1 Historical Data 2015?2018
  10.1.2 Market Size & Forecast
10.2 Health Concern Analysis
  10.2.1 Overview
  10.2.2 Negative Reviews
  10.2.3 Positive Reviews
10.3 Five Forces Analysis
  10.3.1 Threat of New Entrants
  10.3.2 Bargaining Power of Suppliers
  10.3.3 Bargaining Power of Buyers
  10.3.4 Threat of Substitutes
  10.3.5 Competitive Rivalry

11 VAPE MARKET BY PRODUCT

11.1 Market Snapshot & Growth Engine
11.2 Market Overview

12 E-VAPOR MARKET

12.1 Market Overview
  12.1.1 Market Size & Forecast
  12.1.2 Market by Geography

13 E-VAPOR PRODUCT

13.1 Market Snapshot & Growth Engine
13.2 E-Liquids
  13.2.1 Market Size & Forecast
  13.2.2 Market by Sub-Products
  13.2.3 Pre-filled Cartridges: Market Size & Forecast
  13.2.4 Refill Bottles: Market Size & Forecast
  13.2.5 Market by Geography
13.3 Open Tank Systems/VTMS
  13.3.1 Market Size & Forecast
  13.3.2 Market by Geography
13.4 Cig-a-Likes
  13.4.1 Market Size & Forecast
  13.4.2 Market by Sub-Products – Disposables & Rechargeables
  13.4.3 Disposable Cig-a-Like: Market Size & Forecast
  13.4.4 Rechargeable Cig-a-Like: Market Size & Forecast
  13.4.5 Market by Geography
13.5 Closed Tanks Systems (Pre-Filled Capsule Systems)
  13.5.1 Market Size & Forecast
  13.5.2 Market by Geography
13.6 CONSUMABLES
  13.6.1 Market Size & Forecast
  13.6.2 Market by Geography

14 HNB TOBACCO MARKET

14.1 Market Overview
  14.1.1 Market Size & Forecast
  14.1.2 Market by Geography

15 HNB TOBACCO PRODUCT

15.1 Market Snapshot & Growth Engine
15.2 Global HNB Tobacco Devices
  15.2.1 Market Size & Forecast
15.3 HNB Tobacco Device by Product
  15.3.1 Direct/Indirect Heating Devices: Market Size & Forecast
15.4 HNB Tobacco Vapor Device by Product
  15.4.1 Infused/Hybrid Devices: Market Size & Forecast
  15.4.2 Market by Geography
15.5 Global HNB Tobacco Consumables
  15.5.1 Market Size & forecast
15.6 HNB Tobacco Consumables by Sub-Products
  15.6.1 Tobacco Sticks: Market Size & Forecast
  15.6.2 Tobacco Cartridges and Capsules: Market Size & Forecast
  15.6.3 Market by Geography

16 VAPE MARKET BY DISTRIBUTION CHANNELS

16.1 Market Overview
16.2 Manufacturing, Production, & Distribution
16.3 Distribution Through Retail Stores
16.4 Distribution Through Online Websites
16.5 Shifting Manufacturing Bases
16.6 Product Distribution: Combustible Cigarettes Vis-?-Vis E-Vapor & HNB Tobacco

17 VAPE MARKET BY GEOGRAPHY

17.1 Market Snapshot & Growth Engine
17.2 Market Overview

18 APAC

18.1 Vape Market Overview
  18.1.1 Historical Data 2015–2018
  18.1.2 Market Size & Forecast 2019–2025
18.2 E-Vapor Market in APAC
  18.2.1 Market Size & Forecast by Product 2019?2025
18.3 HNB Tobacco Market In APAC
  18.3.1 Market Size & Forecast by Product 2019?2025
18.4 Key Countries
  18.4.1 Market Snapshot & Growth Engine
18.5 Australia & New Zealand
  18.5.1 Market Size & Forecast
18.6 China
  18.6.1 Market Size & Forecast
18.7 Japan
  18.7.1 Market Size & Forecast
18.8 South Korea
  18.8.1 Market Size Forecast
18.9 Malaysia
  18.9.1 Market Size & Forecast

19 EUROPE

19.1 Vape Market Overview
  19.1.1 Historical Data 2015?2018
  19.1.2 Market Size & Forecast 2019?2025
19.2 E-vapor Market in Europe
  19.2.1 Market Size & Forecast by Product 2019?2025
19.3 HNB Tobacco Market in Europe
  19.3.1 Market Size & Forecast by Product 2019?2025
19.4 Key Countries
  19.4.1 Market Snapshot & Growth Engine
19.5 UK
  19.5.1 Market Size & Forecast
19.6 Poland
  19.6.1 Market Size & Forecast
19.7 France
  19.7.1 Market Size & Forecast
19.8 Germany
  19.8.1 Market Size & Forecast
19.9 Italy
  19.9.1 Market Size & Forecast
19.10 Spain
  19.10.1 Market Size & Forecast
19.11 Russia
  19.11.1 Market Size & Forecast
19.12 Romania
  19.12.1 Market Size & Forecast
19.13 The Czech Republic
  19.13.1 Market Size & Forecast

20 NORTH AMERICA

20.1 Vape Market Overview
  20.1.1 Historical Data 2015-2018
  20.1.2 Market Size & Forecast 2019?2025
20.2 E-Vapor Market in North America
  20.2.1 Market Size & Forecast by Product 2019?2025
20.3 HNB Tobacco Market in North America
  20.3.1 Market Size & Forecast by Product 2019?2025
20.4 Key Countries
  20.4.1 Market Snapshot & Growth Engine
20.5 US
  20.5.1 Market Size & Forecast
20.6 Canada
  20.6.1 Market Size & Forecast

21 MIDDLE EAST & AFRICA

21.1 Vape Market Overview
  21.1.1 Historical Data 2015?2018
  21.1.2 Market Size & Forecast 2019?2025
21.2 E-Vapor Market in Middle East & Africa
  21.2.1 Market Size & Forecast by Product 2019?2025
21.3 HnB Tobacco Market in Middle East & Africa
  21.3.1 Market Size & Forecast by Product 2019?2025
21.4 Key Countries
  21.4.1 Market Snapshot & Growth Engine
21.5 UAE
  21.5.1 Market Size & Forecast
21.6 South Africa
  21.6.1 Market Size & Forecast
21.7 Egypt
  21.7.1 Market Size & Forecast

22 LATIN AMERICA

22.1 Vape Market Overview
  22.1.1 Historical Data 2015?2018
  22.1.2 Market Size & Forecast 2019?2025
22.2 E-Vapor Market in Latin America
  22.2.1 Market Size & Forecast by Product 2019?2025
22.3 HNB Tobacco Market in Latin America
  22.3.1 Market Size & Forecast by Product 2019?2025

24 MARKET VENDOR ANALYSIS

24.1 Market Share Analysis

25 KEY COMPANY PROFILES

25.1 Altria Group
  25.1.1 Business Overview
  25.1.2 Major Product Offerings
  25.1.3 Key Strengths
  25.1.4 Key Strategies
  25.1.5 Key Opportunities
25.2 British American Tobacco (BAT)
  25.2.1 Business Overview
  25.2.2 Major Product Offerings
  25.2.3 Key Strengths
  25.2.4 Key Strategies
  25.2.5 Key Opportunities
25.3 Imperial Brands
  25.3.1 Business Overview
  25.3.2 Major Product Offerings
  25.3.3 Key Strengths
  25.3.4 Key Strategies
  25.3.5 Key Opportunities
25.4 Japan Tobacco International (JTI)
  25.4.1 Business Overview
  25.4.2 Major Product Offerings
  25.4.3 Key Strengths
  25.4.4 Key Strategies
  25.4.5 Key Opportunities
25.5 Philip Morris International
  25.5.1 Business Overview
  25.5.2 Major Product Offerings
  25.5.3 Key Strengths
  25.5.4 Key Strategies
  25.5.5 Key Opportunities

26 OTHER PROMINENT VENDORS

26.1 RJ Reynolds Vapor Company
  26.1.1 Company Overview
  26.1.2 Key Strengths
  26.1.3 Key Strategies
26.2 Ballantyne Brands
  26.2.1 Company Overview
  26.2.2 Key Strengths
  26.2.3 Key Strategies
26.3 CB Distributors
  26.3.1 Company Overview
  26.3.2 Key Strengths
  26.3.3 Key Strategies
26.4 ECIG (Formerly Known As Victory Electronic Cigarettes)
  26.4.1 Company Overview
  26.4.2 Key Strengths
  26.4.3 Key Strategies
26.5 Gamucci
  26.5.1 Company Overview
  26.5.2 Key Strengths
  26.5.3 Key Strategies
26.6 GILLA
  26.6.1 Company Overview
  26.6.2 Key Strengths
  26.6.3 Key Strategies
26.7 International Vapor Group
  26.7.1 Company Overview
  26.7.2 Key Strengths
  26.7.3 Key Strategies
26.8 Joyetech Co
  26.8.1 Company Overview
  26.8.2 Key Strengths
  26.8.3 Key Strategies
26.9 Kangertech Technology
  26.9.1 Company Overview
  26.9.2 Key Strengths
  26.9.3 Key Strategies
26.10 Mainstream Cannabis Innovations Group (MCIG)
  26.10.1 Company Overview
  26.10.2 Key Strengths
  26.10.3 Key Strategies
26.11 Nicotek
  26.11.1 Company Overview
  26.11.2 Key Strength
  26.11.3 Key Strategies
26.12 NJOY
  26.12.1 Company Overview
  26.12.2 Key Strengths
  26.12.3 Key Strategies
26.13 PAX Labs
  26.13.1 Company Overview
  26.13.2 Key Strengths
  26.13.3 Key Strategies
26.14 RR Chemicals
  26.14.1 Company Overview
  26.14.2 Key Strength
  26.14.3 Key Strategies
26.15 Totally Wicked E-Liquid
  26.15.1 Company Overview
  26.15.2 Key Strengths
  26.15.3 Key Strategy
26.16 Vape Holdings
  26.16.1 Company Overview
  26.16.2 Key Strength
  26.16.3 Key Strategy
26.17 Vapor Hub International
  26.17.1 Company Overview
  26.17.2 Key Strength
  26.17.3 Key Strategies
26.18 VPR Brands
  26.18.1 Business Overview
  26.18.2 Key Strengths
  26.18.3 Key Strategies
26.19 White Cloud (Leads by Sales)
  26.19.1 Company Overview
  26.19.2 Key Strength
  26.19.3 Key Strategies
26.20 XEO International
  26.20.1 Company Overview
  26.20.2 Key Strengths
  26.20.3 Key Strategies
26.21 KT&G (Korea Tomorrow& Global Corporation)
  26.21.1 Business Overview
  26.21.2 Key Strengths
  26.21.3 Key Strategies
26.22 SHENZHEN AVBAD TECHNOLOGY COMPANY LTD.
  26.22.1 Business Overview
  26.22.2 Key Strengths
  26.22.3 Key Strategies
26.23 Vapor Tobacco Manufacturing
  26.23.1 Business Overview
  26.23.2 Key Strengths
  26.23.3 Key Strategies
26.24 Shenzhen Royal Tobacco Industrial Limited (Royal Tobacco)
  26.24.1 Business Overview
  26.24.2 Key Strengths
  26.24.3 Key Strategies
26.25 JOUZ
  26.25.1 Business Overview
  26.25.2 Key Strengths
  26.25.3 Key Strategies
26.26 Shenzhen Yukan Intelligent Technology Co. Ltd.
  26.26.1 Business Overview
  26.26.2 Key Strengths
  26.26.3 Key Strategies
26.27 Sichuan China Tobacco Industry Co. Ltd. (China)
  26.27.1 Business Overview
  26.27.2 Key Strength
  26.27.3 Key Strategies
26.28 Marvel International Tobacco Group
  26.28.1 Business Overview
  26.28.2 Key Strengths
  26.28.3 Key Strategies

27 REPORT SUMMARY

27.1 Key Takeaways
27.2 Strategic Recommendations

28 QUANTITATIVE SUMMARY

28.1 Geography
  28.1.1 Global: Market Size & Forecast by Geography
  28.1.2 E-Vapor: Market Size & Forecast by Geography
  28.1.3 HnB Tobacco: Market Size and Forecast by Geography
28.2 NORTH AMERICA
  28.2.1 E-Vapor: Market Size & Forecast by Product
  28.2.2 HnB Tobacco: Market Size & Forecast by Product
28.3 APAC
  28.3.1 E-Vapor: Market Size & Forecast by Product
  28.3.2 HnB Tobacco: Market Size & Forecast by Product
28.4 EUROPE
  28.4.1 E-Vapor: Market Size & Revenue by Product
  28.4.2 HnB Tobacco: Market Size & Forecast by Product
28.5 LATIN AMERICA
  28.5.1 E-Vapor: Market Size & Forecast by Product
  28.5.2 HnB Tobacco: Market Size & Forecast by Product
28.6 MIDDLE EAST AND AFRICA
  28.6.1 E-Vapor: Market Size & Forecast by Product
  28.6.2 HnB Tobacco: Market Size & Forecast by Product
28.7 PRODUCT
  28.7.1 E-Vapor by Product: Market Size & Forecast
  28.7.2 HnB Tobacco by Product: Market Size & Forecast
28.8 SUB-PRODUCT
  28.8.1 E-Vapor by Sub-product: Market Size & Forecast
  28.8.2 HnB Tobacco by Sub-product: Market Size & Forecast
  28.8.3 Prefilled Cartridges: Market Size & Forecast by Geography
  28.8.4 Refilled Bottles: Market Size & Forecast by Geography
  28.8.5 Open Tank Systems: Market Size & Forecast by Geography
  28.8.6 Closed Tank Systems: Market Size & Forecast by Geography
  28.8.7 Disposables Cig-a-likes: Market Size & Forecast by Geography
  28.8.8 Rechargeables Cig-a-likes: Market Size & Forecast by Geography
  28.8.9 Consumables E-cigarette Batteries: Market Size & Forecast by Geography
  28.8.10 Consumables E-cigarette Atomizers/Clearomizers/Cartomizers: Market Size &Forecast by Geography
  28.8.11 HnB Tobacco: Direct/Indirect Heating Devices: Market Size & Forecast by Geography
  28.8.12 HnB Tobacco: Hybrid/Infused Devices: Market Size & Forecast by Geography
  28.8.13 HnB Tobacco Sticks: Market Size & Forecast by Geography
  28.8.14 HnB Tobacco Capsules & Cartridges: Market Size & Forecast by Geography

29 APPENDIX

29.1 Abbreviations

LIST OF EXHIBITS

Exhibit 1 Segmentation of Global Vape Market
Exhibit 2 Equivalency Assumptions
Exhibit 3 Market Size Calculation Approach 2019
Exhibit 4 Overview of Vape Market
Exhibit 5 Types and Components of E-vapor Products
Exhibit 6 Types and Components of HnB Tobacco Vapor Products
Exhibit 7 GDP Growth 2010–2023 (annual % change)
Exhibit 8 Average Global GDP Growth 2015?2019 (annual % change)
Exhibit 9 Dual-income Households in US (1982 vs. 2017)
Exhibit 10 Impact of Shifting Consumer Perception of Smoking Combustible Cigarettes
Exhibit 11 Declining US Smoking Population by Age Group 2005, 2015, and 2018
Exhibit 12 Annual Number of Deaths in US Due to Smoking Tobacco
Exhibit 13 E-cigarettes over Combustible Cigarettes: A Few Facts
Exhibit 14 Impact of Increasing Availability of Variety of E-juices
Exhibit 15 Impact of Growing Distribution Network
Exhibit 16 Impact of Stringent Government Regulations
Exhibit 17 Impact of Increasing Protectionist Directives and Measures
Exhibit 18 Net Protectionist Measures Implemented in Selected Countries 2009?2017
Exhibit 19 Trade Contribution to GDP in Key European Countries 2018
Exhibit 20 Impact of Increased Concerns over Vaping Effects on Human Health
Exhibit 21 Calls Received by US AAPCC Related to E-cigarette and Liquid Nicotine Exposure and Poisoning 2011–2019
Exhibit 22 Impact of Shift from Smoking toward Vaping
Exhibit 23 E-vapor Products Market in US: Cig-a-likes vis-?-vis VTMs 2015?2018 ($ billion)
Exhibit 24 Toxicity Level in Various Tobacco Products
Exhibit 25 Impact of Increased Market Consolidation
Exhibit 26 Impact of Increasing Marketing & Promotional Efforts
Exhibit 27 Major Tobacco Marketing Spending on Smokeless Tobacco in US 2012–2017 ($ million)
Exhibit 28 End-user Exposure Sources of E-cigarette Advertising in US 2018 (million)
Exhibit 29 Value Chain Analysis of Vape Market
Exhibit 30 Upstream Raw Material Process
Exhibit 31 Global Vape Market: Historical Data 2015?2018 ($ billion)
Exhibit 32 Global Vape Market 2019?2025 ($ billion)
Exhibit 33 Reasons Cited by End-users to Shift Toward Vapor Products (Percentage of Regular Users (2019)
Exhibit 34 Aids Used to Quit Smoking in UK 2009–2015
Exhibit 35 Global Urban and Rural Human Population 1950?2050 (million)
Exhibit 36 E-vapor Products' End-users as a Percentage of Adult Smoking Population in Selected Countries (2016–2018)
Exhibit 37 Prevalence of Tobacco Smoking and Use of HnB Tobacco Devices in Selected Countries (percentage of adults) 2019
Exhibit 38 E-vapor Products End-users by Tobacco Smoking Characteristics 2017 (percentage of end-users)
Exhibit 39 Penetration of Direct/Indirect Heating Devices in HnB Tobacco Market in Selected Countries 2019
Exhibit 40 Most Commonly Used Vapor Products' Flavors in Selected Countries 2018
Exhibit 41 Five Force Analysis 2019
Exhibit 42 Incremental Growth by Products 2019 & 2025 (Revenue)
Exhibit 43 Types of Vape Products: Overview
Exhibit 44 Global Vape Market by Product 2019 & 2025
Exhibit 45 Global Vape Market by Product 2019 & 2025
Exhibit 46 E-vapor Market: Product Overview
Exhibit 47 Global Market by Product Share 2019 & 2025
Exhibit 48 Global Market by Product 2019 & 2025
Exhibit 49 Global Market 2019?2025 ($ billion)
Exhibit 50 Incremental Growth by Products 2019 &2025 (Revenue)
Exhibit 51 Global E-liquid Market 2019-2025 ($ billion)
Exhibit 52 Global Pre-filled E-liquid Cartridges Market 2019?2025 ($ billion)
Exhibit 53 Global Refill Bottles Market 2019?2025 ($ billion)
Exhibit 54 Global Open Tank System Market 2019?2025 ($ billion)
Exhibit 55 Global Cig-a-likes E-cigarette Market 2019?2025 ($ billion)
Exhibit 56 Global Disposable Cig-a-likes Market 2019?2025 ($ billion)
Exhibit 57 Global Rechargeable Cig-a-likes Market 2019?2025 ($ billion)
Exhibit 58 Global Closed Tank System Market 2019?2025 ($ billion)
Exhibit 59 Global E-vapor Consumables Market 2019?2025 ($ billion)
Exhibit 60 Global Consumables – E-cigarette Batteries Market 2019? 2015 ($ billion)
Exhibit 61 Global Consumables ? Atomizers/Cartomizers/ Clearomizers Market 2019?2025 ($ billion)
Exhibit 62 HnB Tobacco Market: Product Overview
Exhibit 63 Global Market by Product Share 2019 & 2025
Exhibit 64 Global Market by Product 2019 & 2025
Exhibit 65 Global Market 2019?2025 ($ billion)
Exhibit 66 Incremental Growth by Products 2019 &2025 (Revenue)
Exhibit 67 Global HnB Tobacco Devices Market 2019?2025 ($ billion)
Exhibit 68 Global Direct /Indirect Heating Market 2019?2025 ($ billion)
Exhibit 69 Global Infused/Hybrid Market 2019?2025 ($ billion)
Exhibit 70 Global Vapor Consumables Market 2019?2025 ($ billion)
Exhibit 71 Global Sticks Market 2019?2025 ($ billion)
Exhibit 72 Global Capsules and Cartridges Market 2019?2015 ($ billion)
Exhibit 73 Various Distribution Channels of Vape Products
Exhibit 74 Distribution Channel of Traditional Tobacco Cigarettes
Exhibit 75 Distribution Channel Flow of Vapor Products
Exhibit 76 Global E-vapor Products Market by Distribution Channels 2019
Exhibit 77 Global Products: E-Liquids Market by Distribution Channels 2019
Exhibit 78 Global Products: Closed Tank Systems Market by Distribution Channels 2019
Exhibit 79 Global Products: Open Tank Systems Market by Distribution Channels 2019
Exhibit 80 Global Products: Consumables by Distribution Channels 2019
Exhibit 81 Global HnB Tobacco Market by Distribution Channels 2019
Exhibit 82 Global Market by Distribution Channels 2019
Exhibit 83 Global Consumables by Distribution Channels 2019
Exhibit 84 Incremental Growth by Geography 2019 &2025 (Revenue)
Exhibit 85 Market Share of Geographies in Vape Market 2019
Exhibit 86 CAGRs of Key Geographies 2019?2025
Exhibit 87 Vape Market in APAC: Historical Data 2015?2018 ($ billion)
Exhibit 88 Vape Market in APAC 2019?2025 ($ billion)
Exhibit 89 Comparison of Southeast Asian Countries with Income Brackets 2010?2025
Exhibit 90 Incremental Growth in APAC 2019 & 2025 (Revenue)
Exhibit 91 Market in Australia & New Zealand 2019–2025 ($ billion)
Exhibit 92 Urban Households in China: Income Breakup 2010?2020
Exhibit 93 Market in China 2019?2025 ($ billion)
Exhibit 94 Market in Japan 2019–2025 ($ billion)
Exhibit 95 Market in South Korea 2019–2025 ($ billion)
Exhibit 96 Market in Malaysia 2019–2025 ($ billion)
Exhibit 97 Vape Market in Europe: Historical Data 2015?2018 ($ billion)
Exhibit 98 Vape Market in Europe 2019?2025 ($ billion)
Exhibit 99 Incremental Growth by Europe 2019 & 2025 (Revenue)
Exhibit 100 Market in UK 2019–2025 ($ billion)
Exhibit 101 Market in Poland 2019–2025 ($ billion)
Exhibit 102 Market in France 2019–2025 ($ billion)
Exhibit 103 Market in Germany 2019–2025 ($ billion)
Exhibit 104 Market in Italy 2019–2025 ($ billion)
Exhibit 105 Market in Spain 2019–2025 ($ billion)
Exhibit 106 Market in Russia 2019–2025 ($ billion)
Exhibit 107 Market in Romania 2019–2025 ($ billion)
Exhibit 108 Market in Czech Republic 2019–2025 ($ billion)
Exhibit 109 Vape Market in North America: Historical Data 2015-2018 ($ billion)
Exhibit 110 Annual Saving Ratio US 2008-2017
Exhibit 111 Vape Market in North America 2019?2025 ($ billion)
Exhibit 112 Change in US GDP Growth Rate 2006?2018
Exhibit 113 Incremental Growth by Country 2019 & 2025 (Revenue)
Exhibit 114 Market in US 2019?2025 ($ billion)
Exhibit 115 Market in Canada 2019–2025 ($ billion)
Exhibit 116 Vape Market in Middle East and Africa: Historical Data 2015?2018 ($ billion)
Exhibit 117 Vape Market in Middle East and Africa 2019–2025 ($ billion)
Exhibit 118 Incremental Growth by Middle East and Africa 2019 & 2025 ($ billion)
Exhibit 119 Market in the UAE 2019?2025 ($ billion)
Exhibit 120 Market in South Africa 2019?2025 ($ billion)
Exhibit 121 Market in Egypt 2019?2025 ($ billion)
Exhibit 122 Vape Market in Latin America: Historical Data 2015?2018 ($ billion)
Exhibit 123 Vape Market in Latin America 2019?2025 ($ billion)
Exhibit 125 Global Vape Market Vendor Share 2019
Exhibit 126 Global HnB Tobacco Market Vendor Share 2019

LIST OF TABLES

Table 1 Key Caveats
Table 2 Currency Conversion 2014?2019
Table 3 Various Terminologies Used in Report
Table 4 Pricing Assumptions
Table 5 Comparison of E-vapor Products and Traditional Tobacco Cigarettes
Table 6 Comparison of Nicotine Levels in E-vapor Products and Tobacco Cigarettes
Table 7 Real GDP per Capita Growth in Several Asian Developing Countries 2013–2018
Table 8 Fastest Growing Eastern & Central European Economies 2018
Table 9 Popular E-cigarettes Brands with Flavor Offerings
Table 10 M&As in Tobacco Products Market
Table 11 Some of the Major Companies Involved in E-cigarette Chip Designing
Table 12 Some of the Major Smoke Oil Manufactures
Table 13 Global E-vapor Market by Geography 2019?2025 ($ billion)
Table 14 Global E-liquid Market by Geography 2019?2025 ($ billion)
Table 15 Global Pre-filled Cartridges Market by Geography 2019?2025 ($ billion)
Table 16 Global Refill Bottles Market by Geography 2019?2025 ($ billion)
Table 17 Global Open Tank Systems Market by Geography 2019?2025 ($ billion)
Table 18 Global Cig-a-likes Market by Geography 2019?2025 ($ billion)
Table 19 Global Disposable Cig-a-likes Market by Geography 2019?2025 ($ billion)
Table 20 Global Rechargeable Cig-a-likes Market by Geography 2019?2025 ($ billion)
Table 21 Global Closed Tank Systems Market by Geography 2019?2025 ($ billion)
Table 22 Global E-vapor Consumables Market by Geography 2019?2025 ($ billion)
Table 23 Global HnB Tobacco Market by Geography 2019?2025 ($ billion)
Table 24 Global HnB Tobacco Devices Market by Geography 2019?2025 ($ billion)
Table 25 Global Direct /Indirect Heating Devices Market by Geography 2019?2025 ($ billion)
Table 26 Global Infused/Hybrid Devices Market by Geography 2019?2025 ($ billion)
Table 27 Global Consumables Market by Geography 2019?2025 ($ billion)
Table 28 Global Sticks Market by Geography 2019–2025 ($ billion)
Table 29 Global Capsules and Cartridges Market by Geography 2019?2015 ($ billion)
Table 30 APAC : E-Vapor Market by Product 2019?2025 ($ billion)
Table 31 APAC: HnB Tobacco Market by Product 2019?2025 ($ billion)
Table 32 Europe: E-Vapor Market by Product 2019?2025 ($ billion)
Table 33 Europe: HnB tobacco Market by Product 2019?2025 ($ billion)
Table 34 North America: E-vapor Market by Product 2019?2025 ($ billion)
Table 35 North America: HnB Tobacco Market by Product 2019?2025 ($ billion)
Table 36 Middle East and Africa: E-vapor Market by Product 2019?2025 ($ million)
Table 37 Middle East and Africa: HnB Tobacco Market by Product 2019?2025 ($ billion)
Table 38 Latin America: E-vapor Market by Product 2019?2025 ($ million)
Table 39 Latin America: HnB Tobacco Market by Product 2019?2025 ($ million)
Table 40 Altria Group: Product Offerings
Table 41 British American Tobacco: Product Offerings
Table 42 Imperial Brands: Product Offerings
Table 43 Japan Tobacco International: Product Offerings
Table 44 Philip Morris International: Product Offerings
Table 45 Global Vape Market: by Geography 2019-2025 ($ billion)
Table 46 Summary Global E-Vapor Market: by Geography 2019-2025 ($ billion)
Table 47 Summary of Global HnB Tobacco Market: by Geography 2019-2025 ($ billion)
Table 48 Summary of North America E-Vapor Market : by Product 2019-2025 ($ billion)
Table 49 Summary of North America HnB Tobacco Market: by Product 2019-2025 ($ billion)
Table 50 Summary of APAC E-Vapor Market : by Product 2019-2025 ($ billion)
Table 51 Summary of APAC HnB Tobacco Market: by Product 2019?2025 ($ billion)
Table 52 Summary of Europe E-Vapor Market: Product 2019-2025 ($ billion)
Table 53 Summary of Europe HnB Tobacco Market: Product 2019-2025 ($ billion)
Table 54 Summary Latin America Market by E-Vapor: by Product 2019-2025 ($ million)
Table 55 Summary of Latin America Market by HnB Tobacco: by Product 2019-2025 ($ million)
Table 56 Summary Middle East and Africa Market by E-Vapor: by Product 2019-2025 ($ million)
Table 57 Summary Middle East and Africa Market by HnB-Tobacco: by Product 2019-2025 ($ billion)
Table 58 Summary Global E-Vapor Market: by Product 2019-2025 ($ billion)
Table 59 Summary Global HnB Tobacco Market: by Product 2019? 2025 ($ billion)
Table 60 Summary Global E-Vapor Market: by Sub-Product 2019-2025 ($ billion)
Table 61 Summary Global HnB Tobacco Market: by Sub Product 2019-2025 ($ billion)
Table 62 Summary Global Prefilled Cartridges E-liquids Market: by Geography 2019?2025 ($ billion)
Table 63 Summary Global Refilled Bottles E-liquids Market: by Geography 2019?2025 ($ billion)
Table 64 Summary Global Open Tank Systems Market: by Geography 2019?2025 ($ billion)
Table 65 Summary Global Closed Tank Systems Market: by Geography 2019?2025 ($ billion)
Table 66 Summary Global Disposables Cig-a-likes Market: by Geography 2019?2025 ($ billion)
Table 67 Summary Global Rechargeables Cig-a-likes Market: by Geography 2019?2025 ($ billion)
Table 68 Summary Global E-cigarette Batteries Market: by Geography 2019?2025 ($ billion)
Table 69 Summary Global E-cigarette Atomizers/Clearomizers/Cartomizers Market: by Geography 2019?2025 ($ billion)
Table 70 Summary Global Direct/Indirect Heating Market: by Geography 2019?2025 ($ billion)
Table 71 Summary Global Hybrid/Infused Devices Market: by Geography 2019?2025 ($ billion)
Table 72 Summary Global HnB Tobacco Sticks Market: by Geography 2019?2025 ($ billion)
Table 73 Summary Global HnB Tobacco Capsules & Cartridges Market: by Geography 2019?2025 ($ billion)


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