(PharmaNewsWire.Com, May 22, 2017 ) According to Publisher, the Global E-Cigarettes & Vapourizer Market accounted for $7.47 billion in 2015 and is anticipated to reach $28.57 billion by 2022 growing at a CAGR of 21.1% from 2015 to 2022. Growing demand for distribution channels of e-cigarettes and accessories is the primary factor favouring the market growth. Furthermore, increasing number of brands, innovative product launches and product customizations are some of the drivers favouring the market growth. However, uncertain regulatory framework, increasing incidents of e-liquid poisoning and compatibility issues are some of the restraints hampering the market growth. New taxes on e-cigs in cities like Washington, D.C., are damping sales, as are new regulations, like measures passed this year in Indiana that require manufacturers to secure permits and list ingredients. The industry also is awaiting final rules from the Food and Drug Administration, which could require federal approval for nearly all flavored liquid nicotine juices and e-cig devices.
Disposable E-Cigarette segment commanded the largest share in 2015, while Rechargeable E-Cigarettes is growing at the highest CAGR durig the forecast period. North America is expected to witness highest growth rate over the forecast period. Europe being one of the largest markets in the e-cigarette industry it is hub to provide conflicting regulatory regimes.
Some of the key players in this market include Japan Tobacco, Inc., First Union, International Vapor Group, Inc., Marlboro, Lorillard, Inc., Pacific Smoke International, British American Tobacco Plc (Bat), Cloudcig, Steamlite, Smokefree, Victory Electronic Cigarettes Corporation, Altria Group, Inc., Reynolds American Inc., Puff Ecig, Bull Smoke, Feellife Bioscience International Co. Ltd, Fontem Ventures, Philip Morris International, Inc., Ballantyne Brands, Llc and Nice Vapor.
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