GLOBAL VAPE MARKET SIZE TO CROSS USD 61 BILLION BY 2025, GROWING AT A CAGR OF 14% DURING THE FORECAST PERIOD

Vape Market Size, Share, & Trends Analysis Report by E-Vapor (E-Liquids, Open Tanks Systems, Closed Tank Systems, Cig-a-Likes, and Consumables), Heat-Not-Burn (HnB) Tobacco ((HnB Devices (Direct and Indirect Heating Devices, Infused/Hybrid Systems) and HnB Consumables (Tobacco Sticks and Tobacco Capsules & Cartridges)), Distribution (Retail and Online Stores), and Geography (North America, APAC, MEA, Europe, and Latin America), Global Analysis Report, Global Outlook, Market Trends, Competitive Landscape, Share, Growth Potential & Forecast, 2020 – 2025

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Most Exhaustive Report

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335 Pages

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73 Tables

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126 Charts

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5 Regions

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20 Countries

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33 Companies

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4 Market Segment

VAPE MARKET REPORT SCOPE

Report Attribute Details
Market Size (Revenue) USD 61 BILLION (2025)
CAGR 14% (2020-2025)
Base Year 2019
Historic Year 2015-2018
Forecast Year 2020-2025
Market Segments E-Vapor (E-Liquids, Open Tanks Systems, Closed Tank Systems, Cig-A-Likes, and Consumables), Heat-Not-Burn (HnB) Tobacco ((Hnb Devices (Direct and Indirect Heating Devices, Infused/Hybrid Systems) and HnB Consumables (Tobacco Sticks and Tobacco Capsules & Cartridges)), Distribution (Retail and Online Stores)
Geographic Analysis North America, APAC, Middle East & Africa, Europe, and Latin America
Countries Covered UK, Poland, France, Spain, Italy, Germany, Russia, Romania, Czech Republic, China, Japan, South Korea, Australia and New Zealand, Malaysia, US, Canada, Egypt, South Africa, and UAE

INDUSTRY INSIGHTS

The global vape market size to cross USD 61 billion by 2025, growing at a CAGR of over 14% during the forecast period. The vape market is witnessing a shift from smoking to vaping. Veteran vapors and heavy smokers have started to switch to bulky vapor mod in the cigaratte and vape market. It is expected that the vapor products market would be driven further by VTMs and personal vaporizers during the forecast period. Vaping is substantially cost-effective in the long run than traditional tobacco cigarettes and disposables/rechargeable e-cigarettes, which is expected to affect the industry during the forecast period.

Another important reason for the popularity of vapor products is the availability of different flavors in the industry. Innovation and new product development propel the growth of the industry. E-liquids with flavors of fruits, beverages, and sweets have been gaining large 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.

SNIPPETS

  • APAC is likely to continue its dominance during the forecast period; however, North America is expected to catch up on the pace and take over the market.
  • Constant product development and new features are keys to achieving high sales growth
  • The authorization of IQOS and Eclipse heated tobacco products for sale by the US Food and Drug Administration (FDA) is expected to influence the growth during the forecast period.
  • The growing popularity of vaping devices in the UK has achieved a sale of over 17.3 million units of vapor products.

VAPE MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • E-vapor
  • HnB tobacco
  • Distribution
  • Geography

INSIGHTS BY E-VAPOR 

E-liquids were the largest revenue-generating product category of the global vape market based on products in 2019. The major reason behind high market share can be attributed to the increased proliferation of VTMs. North America is expected to hold the largest share during the forecast period. 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.

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.

Closed tanks systems are likely to decline in the e-vapor industry. In recent times, it has been observed that open tank systems are becoming more popular among the people who want to quit smoking and interested in consuming safe smokeless product. This has reduced the sale of closed tank systems worldwide. Further, the sale of closed tanks systems is dented as pre-filled capsules are device-specific. Thus, the choice of e-liquid flavor is limited. This has affected acceptance and penetration among end-users worldwide.

INSIGHTS BY HNB TOBACCO 

The HnB market is growing rapidly across the globe. APAC is the largest market for HnB products. 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 industry for heat-not-burn products. HnB products are getting popular due to the shift in social culture and increasing demand of adopting a safer substitute to conventional cigarettes. The rise in demand for these products has enabled companies to bring innovations in products and spend more on promotion.

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 forecast period 2019–2025.

INSIGHTS BY DISTRIBUTION

The distribution environment is rapidly evolving, with systems and processes being upgraded at a rapid pace. Changes in the distribution channels 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.

The vapor market is 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.

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 control a large share as smokers in the US are becoming health conscious. One of the major influencing factors propelling growth is the increasing availability of products in vape shops and over the internet. North America is also home to prominent players of the industry.

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 vape devices in the country.

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 key market players are set to develop efficient vapor products to sustain the competitive landscape. The competitive landscape is highly fragmented. About 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 and Altria Group are all set to explore the market by developing innovative vaping devices. Altria Group, British American Tobacco (BAT), Imperial Brands, Japan Tobacco International (JTI), and Philip Morris International (PMI) are the leading market players.

The global vape market report includes in-depth coverage of the industry with revenues & forecasts for the following segments:

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

By HnB Tabacco 

  • HnB Devices
  • Direct/Indirect Heating
  • Hybrid/Infused
  • HnB Consumables
  • Tobacco Sticks
  • Tobacco Capsules and Cartridges

By Distribution   

  • Retail
  • Convenience Stores
  • Vape Stores
  • Tobacco Stores
  • Grocery Stores
  • Drug Stores
  • Others
  • Online

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

Frequently Asked Questions

What is the size of the global vape market?

The global vape market size to reach revenues of around $61 billion, growing at a CAGR of over 14% during 2019-2025.

What are the market opportunities and industry trends?

Innovation and new product development propel the growth of the industry. E-liquids with flavors of fruits, beverages, and sweets have been gaining large share over traditional tobacco flavor.

Which segment holds the maximum market share of the vaping market?

E-liquids were the largest revenue-generating product category of the global vape market based on products in 2019.

What are the key growth strategies of vape market players?

The key market players are set to develop efficient vapor products to sustain the competitive landscape. The competitive landscape is highly fragmented.

What is the vape device market size in North America and Europe regions?

The US vapor market is consistently increasing after the authorization of the sale of HnB products by the FDA in the country. Europe captures more than a 33% share of the revenues.

Which region will provide more business opportunities to the e-cigarette market in future?

The APAC region enjoys a larger share because of the large smoking population and continuous shift toward smoking innovative products.

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

 The following factors are likely to contribute to the growth of the vape market size during the forecast period:

  • Shift from Smoking toward Vaping
  • Increased Market Consolidation
  • Increasing Availability of Variety of E-juices

 Base Year:                  2019

Forecast Year:           2020–2025

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.

Key Vendors

  • Altria Group
    • Business Overview
    • Major Product Offerings
    • Key Strengths
    • Key Strategies
    • Key Opportunities
  • British American Tobacco (BAT)
  • Imperial Brands
  • Japan Tobacco International (JTI)
  • Philip Morris International (PMI)

Other Vendors

  • RJ Reynolds Vapor Company (RJRVC)
    • Company Overview
    • Product Offerings
  • 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

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

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

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-À-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-à-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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