E-cigarettes
majorly include nicotine, propylene, glycol, glycerin, and flavorings
in liquid form that gets vaporized. They are made up of a cartridge,
a battery, e-liquid and an atomizer that heats up ingredients in
cartridge that creates a vapor inhaled by the consumer. They are
tobacco free and do not produce any combustion, smoke, and odor.
E-cigarettes function similar to normal cigarettes with visible vapor
and an LED light produced when the user draws on an e-cigarette,
E-cigarettes tend to offer a sensation (nicotine hit) similar
to conventional tobacco cigarettes. According to the US Food and
Drugs Administration (FDA), e-cigarettes convert the chemicals such
as nicotine into an aerosol that is inhaled by the user.
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Increasing
health awareness regarding the use of cigarettes, adoption of
eco-friendly products, and the tax hike of regular cigarettes are the
factors contributing to growth of the e-cigarettes market. In July
2013, the World Health Organization (WHO) issued a statement
regarding the potential risks of using e-cigarettes, which include
throat irritation and coughing. This is expected to hamper the growth
of the global e-cigarettes market.
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.
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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.
Key
players in Global E-cigarettesMarket
Some
of the key players operating in the global e-cigarette market include
Japan Tobacco Inc., Reynolds American, Philip Morris International,
Altria Group Inc. VMR products, and British American Tobacco.
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