E-CIGARETTES MARKET ANALYSIS

E-cigarettes MarketSize and Trends

Global E-cigarette Market Outlook:

• North America region is leading global e-cigarettes market. Increasing educational campaigns coupled with ban on smoking in public places in the U.S. has resulted in an approximate 31% drop in the sale of conventional cigarettes since 2005. This has created a large scale opportunity for e-cigarettes manufacturers in the U.S. thereby resulting in the growth of the market in North America. According to the National Youth Tobacco Survey (NYTS), an estimated 27.1% of U.S. adolescents used of e-cigarettes in 2015. This has resulted in 41 states banning the sale of e-cigarettes to minors due to the increasing number of health complications associated with it. These factors could greatly hamper the growth of the e-cigarettes market in North America.
• Europe is projected to be the fastest growing market for e-cigarettes, owing to the high prices and regulations that are imposed on cigarettes in the developed economies of the European region. For instance according to the Action on Smoking and Health (ASH), number of smokers using e-cigarettes regularly have increased from 2.7% in 2010 to 17.7% in 2014 in the U.K. and it is expected to witness a substantial increase during the forecast period on account of the health complications due to the combustion of tobacco in cigarettes. The smoke forms a sticky chemical slurry called tar, and the tar coats delicate parts of the lungs. However e-cigarettes don’t produce tar, because they don’t burn (or even contain) tobacco or other plant material. This is expected to drive growth of the market in the European region.