The rising awareness about the harmful effects of cigarette smoking is encouraging the adoption of electronic cigarettes, states Transparency Market Research (TMR) in a new report. The report titled, “Electronic Cigarette Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” presents an overview of liquid-nicotine based and battery powered devices adopted as an alternative to traditional cigarettes.
The report presents a comprehensive analysis of the growth trajectory of the global electronic cigarette market. It further projects growth prospects of the market after cigarette smoking in public place is likely to witness a large scale ban. It has further evaluated the dynamics that are driving or restraining the growth of the global electronic cigarette market along with the predominant trends.
The study offers a description of the competition among the leading players in the global electronic cigarette market coupled with information about the degree of barriers to entry and exit. It also highlights the strategies and products description of key players coupled with insights into the segments of the global electronic cigarette market. The report also provides details about the estimated volume and revenue growth of the market over the forecast period. According to the report, there has been a significant rise in the adoption of electronic cigarettes owing to the ban on cigarette smoking in public places.
The progress of the global electronic cigarette market can be primarily attributed to the strengthening of anti-smoking campaigns and implementation of stringent anti-smoking laws for public spaces. The rising awareness about the ill effects of smoking coupled with the mounting number of diseases caused due to excessive tobacco smoking is likely to steer the adoption of electronic cigarettes across consumers of different age groups. As compared to their traditional counterparts, electronic cigarettes are less injurious to health as the slender electronic devices contain nicotine dissolved in water solution and propylene glycol.
The demand for electronic cigarettes is growing at a considerable rate as they offer a plethora of flavors such as pina colada, chocolate, and strawberry among others, unlike their conventional counterparts. However, the claim of electronic cigarettes being comparatively less harmful has not been validated by many countries such as Mexico and Brazil. These countries have imposed a ban on the consumption of electronic cigarettes. These factors are likely to inhibit the growth of the global electronic cigarette market over the coming years.
Geographically, the report segments the global electronic cigarette market into North America, Europe, Asia Pacific, and Rest of the World. Some of the leading companies in the market are Lorillard, Altria, Vapor, Nicotek, Reynolds American, Njoy, and British American Tobacco.