An e-cigarette or electronic cigarette is an electronic device which people can smoke as an alternative to cigarettes. It is less harmful than cigarettes. It can help smokers quit cigarettes in time. But using it frequently will lead to addiction. This device was made possible with the help of technology in 2004.
The prime driver for the market is the health awareness drives. This is leading to the smoke and ash less smoking. Advancement in technology has triggered the focus on the market. The change in lifestyle habits is driving the market. The product comes in different flavors and fragrances to meet differing demands. The ban on public smoking in some countries is a plus point for the market.
This product could be used anywhere and it is environment-friendly as well. Furthermore, e-cigarettes are more economical than cigarettes due to high taxation on cigarettes and their rising prices.
The major restraint on the market is the risk and side effects of using the product. Consumer acceptability could be an issue in the growth of the market. The opportunity for the market lies in the technological advancement and research and development.The growing demand and popularity of the product hold a major scope for the future of the market. Health concerns will drive smokers towards tobacco alternatives.
The market is segmented in terms of the distribution channel into online and retail. The market is divided into first-generation, second-generation and third-generation on the basis of the product. On the basis of size, the market is divided into generation resources, storage, and advanced controls.
North America dominates the market. Europe comes next in the list with strong demand. Asia Pacific has the highest growth potential with rising awareness of the product.
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Some of the major players in the market include British American Tobacco, Japan Tobacco, Phillip Morris International, Njoy, Reynolds American, Altria Group, and Imperial Brands.
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