Asia-Pacific E-Cigarette Market Research Report, 2028

E-cigarettes, or electronic nicotine delivery systems (ENDS) are being increasingly used by people as a substitute for smoking or for recreational purposes. Due to the growing health concern over the usage of conventional tobacco-based cigarettes, the e-cigarette market has witnessed significant growth over the past decade. Increasing the adoption of e-cigarettes has created a market for disposable, reusable, and customizable e-cigarettes. Easier access to the distribution channel, especially online websites and e-commerce sites, has provided market players with the scope to expand both locally and regionally, which continues to be one of the key drivers for the Asia-Pacific market. However, the stringent regulations in the major countries of the region highly hampered the market. According to the research report, “Asia-Pacific E-cigarette Market Research Report, 2028” published by Actual Market Research, the market has grown with 12.26% CAGR historically. The growing awareness among individuals about the harmful effects of tobacco and the increasing willingness to quit smoking are increasing the demand for e-cigarettes in the Asia Pacific region. Apart from this, several manufacturers are introducing new-generation products that allow users to refill the cartridge. They are also offering innovative flavors such as mint, menthol, chocolate, bubble gum, coffee, tea, cinnamon, and clove, which is assisting in increasing overall sales. Additionally, leading players are focusing on mergers and acquisitions to expand their consumer base. For instance, Japan Tobacco International (JTI) acquired E-Lites, a UK-based e-cigarette brand, to launch new products and commercialize vaporizers. Furthermore, the easy availability of e-cigarettes through online retail channels is anticipated to drive the market in the coming years. Asia Pacific continues to be the largest cigarette market in the world. The region’s cigarette consumption experienced a decline caused by the impact of COVID-19 leaving consumers to reduce their consumption of cigarettes or shift to illegal trade. While strong government regulations and the emergence of next-generation products indicate a challenging future, capsule cigarettes and growing demand for premium segments bring interest to this mature industry. Asia Pacific continues to be the largest cigarette market in the world in volume terms. Five out of the global top 10 cigarette markets are located in Asia Pacific, including China, Indonesia, Japan, Vietnam, and Bangladesh. The region’s cigarette consumption experienced a decline over the review period and has faced the impact of COVID-19. From 2015-2020, the top 10 brands in the region were Chinese brands, taking advantage of the large size of the local market. Even during the pandemic, the country experienced growth led by growing consumer preference for premium and mid-priced cigarettes, indicative of increasing disposable incomes. Younger consumers of legal smoking age are big fans of flavor capsule cigarettes, due to the freshness and complexity of taste. The less reduced smell is another key driver for the rapid growth of capsule cigarettes in the region. With the social pressure surrounding passive smoking mounting, many smokers looked for ways to reduce smoking smells and the capsule cigarette became more popular thanks to its smooth odor. Further, the market is driven by factors such as increasing awareness among consumers, government initiatives to curb tobacco use, increasing tobacco and drug abuse in the region, and an upsurge in the e-commerce industry. Disposable cig-a-like, rechargeable cig-a-like, and open tank vaporizers are the major contributor to the Asia-Pacific e-cigarette market size. The Asia Pacific region has witnessed several online shopping websites selling e-cigarettes coming up. The region has also been witnessing a rising demand for e-cigarette products, encouraging sellers to sell e-cigarettes online. Asia Pacific E-cigarette Market is anticipated to register growth on the back of the increasing preference of the Arabian population towards the product as it tends to abate tobacco craving, decreases the consumption of conventional cigarettes, and is less harmful than conventional cigarettes. Since e-cigarettes are posed to the use of less nicotine, they are high in demand as compared to conventional cigarettes, but the use of various other substances such as acetone, acetaldehyde, propanol, and many other hazardous liquids are instigating the government of the Asian countries to focus on the health issues which can occur by the use of e-cigarettes. The government is further, imposing certain rules and regulations to eradicate the use of cigarettes which may pose a challenge to the growth of the Asia Pacific e-cigarette market in the coming timeframe. On the back of an increasing number of females and children, smokers along with rising aspirations of smokers towards different flavors for smoking which is leading to an increased demand for e-cigarettes in the Asia Pacific and is anticipated to proliferate sound market growth in the coming years and provide great investment avenues for the potential investors in the market and offer vast scope for the growth and development of their brand in the Asia Pacific e-cigarette market in the coming timeframe. Also, the rising popularity of e-cigarettes as a good option as a replacement to quit the consumption of conventional cigarettes is anticipated to trigger the potential growth of the Asia Pacific e-cigarette market in the upcoming six years. On the basis of product, rechargeable e-cigarettes are anticipated to witness the highest growth in the coming years backed by the easy use and reusable feature of rechargeable e-cigarettes which is expected to drive potential revenues for rechargeable e-cigarettes in the overall Asia Pacific e-cigarette market in the coming timeframe. However, the continuous restriction in the market has led to a decline in the offline retail of e-cigarettes in the region, however, the online retail channels are still experiencing extensive growth in countries such as Indonesia, New Zealand, and others. In February 2020, JUUL halts the offline retail of e-cigarettes in Indonesia, however, online retail is still allowed in Indonesia and the Philippines with no age verification. Thereby, catering to the online retail of e-cigarettes in the region. Additionally, the rising number of online retailers is also witnessed in the Asia-Pacific market, which drives the market studied. Conversely, owing to the restriction imposed by the government of some of the countries in the region, the advertisement of e-cigarettes on the web, further restrain the market. Covid-19 Impacts: The spread of COVID-19 is anticipated to affect the growth of the Asia Pacific e-cigarette market backed by the imposition of the government towards exposed health risks by the use of vapes which can increase the spread of the virus. Also, in order to contain the spread of the virus, the nationwide lockdown imposed has impacted the sales of e-cigarettes due to a disturbance in the distribution channel cycle along with the decline in production owing to the complete shutdown of production houses and factories backed by the nationwide lockdown is expected to pose a challenge to the growth of the Asia Pacific e-cigarette market. Also, owing to various rules and regulations regarding the increasing health issue of the use of vape are anticipated to expose a threat to the market growth and register slow market growth in the coming years. Major Companies present in the market: British American Tobacco, Turning Point Brands Inc., Philip Morris International Inc., imperial brands, ITC, Japan Tobacco, Shenzhen IVPS Technology Co. Ltd., KangerTech, Ald Group Limited, Innokin Technology Considered in this report • Geography: Asia-Pacific • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Asia-Pacific E-Cigarette market with its value and forecast along with its segments • Courtiers-wise e-cigarette appliances market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • China • Japan • Australia • South Korea • Indonesia • Malaysia By Product • Modular E-Cigarette • Rechargeable E-Cigarette • Next-Generation E-Cigarette • Disposable E-Cigarette • Others By Flavour • Tobacco • Botanical • Fruit • Sweet • Beverage • Others By Battery Mode • Automatic E-cigarette • Manual E-cigarette By Distribution Channel • Offline • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the e-cigarette industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.