The U.S. e-cigarette and vape market size is expected to reach USD 18.5 billion by 2025, exhibiting a CAGR of 24.1% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. The ability of e-cigarettes to reduce exposure to potentially toxic substances is expected to drive the market over the forecast period. Another factor that is expected to drive the market is that health hazards associated with electronic smoking and vaping devices are relatively lower as compared to conventional tobacco cigarettes. Changing lifestyle and preferences of adult smokers bodes well for the U.S. market. Adult smokers who are addicted to smoking but are willing to quit the habit are shifting from conventional tobacco cigarettes to electronic variants, thereby driving the adoption of the latter over the forecast period. Electronic smoking devices and products claim to minimize the risk of cancer usually posed by conventional cigarettes. Moreover, vaping devices do not have any smoke associated with them, which means, they pose fewer health risks to passive smokers. Electronic smoking devices also help in reducing the volume of cigarette litter and ash. Advances in technology are allowing vendors to offer electronic smoking products in a wide range of flavors. While vendors are focusing on effective promotions by offering attractive discounts, particularly on online purchases of e-cigarettes, vaping shops are allowing users, particularly first-time users, to get acquainted with the concept of electronic smoking products and devices and try out different flavors before making a purchase. All these initiatives are contributing to rising product adoption. Further key findings from the study suggest: • The rechargeable product segment is expected to exhibit a CAGR of 24.6% and emerge as the largest segment over the forecast period. Apart from being cheaper, the rechargeable product variant offers additional cartridge replacement and refill options and a stronger sense of flavor • The emerging trend of "do it yourself" (DIY) e-liquid bodes well for manufacturers by reducing the overall cost of production and for consumers by allowing to customize the e-liquid • Retail stores, also known as vape shops, are gaining popularity throughout U.S. as customers prefer testing different e-cigarettes and vaporizers and trying out different flavors before making a purchase • Key market participants include Altria Group, Inc.; R.J. Reynolds Vapor Company; Philip Morris International Inc.; Japan Tobacco Inc.; and Imperial Brands.
Table of Contents Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research Scope and Assumptions 1.3 List of Data Sources Chapter 2 Executive Summary 2.1 U.S. E-cigarette and Vape Market - Industry Snapshot & Key Buying Criteria, 2014 - 2025 2.2 U.S. E-cigarette and Vape Market, 2014 - 2025 2.2.1 U.S. e-cigarette and vape market, by product, 2014 - 2025 2.2.2 U.S. e-cigarette and vape market, by component, 2014 - 2025 2.2.3 U.S. e-cigarette and vape market, by distribution channel, 2014 - 2025 188.8.131.52 U.S. e-cigarette and vape market, by retail stores, 2014 - 2025 Chapter 3 U.S. E-cigarette and Vape Industry Outlook 3.1 Market Segmentation 3.2 Market Size and Growth Prospects 3.3 U.S. E-cigarette and Vape - Value Chain Analysis 3.3.1 Vendor landscape 3.4 U.S. E-cigarette and Vape Market Dynamics 3.4.1 Market driver analysis 184.108.40.206 Technological advances in e-cigarettes 220.127.116.11 Growing awareness for safer tobacco alternatives 3.4.2 Market restraint analysis 18.104.22.168 Stringent government regulations 3.5 U.S. E-cigarette and Vape Market - Company Ranking, 2018 3.6 Penetration and Growth Prospect Mapping 3.7 U.S. E-cigarette and Vape Market - Porter's Five Forces Analysis 3.8 U.S. E-cigarette and Vape Market - PESTEL Analysis Chapter 4 U.S. E-cigarette and Vape Product Outlook 4.1 U.S. E-cigarette and Vape Market Share By Product, 2018 & 2025 4.2 Disposable 4.3 Rechargeable 4.4 Modular Devices Chapter 5 U.S. E-cigarette and Vape Component Outlook 5.1 U.S. E-cigarette and Vape Market Share By Component, 2018 & 2025 5.2 Atomizer 5.3 Vape Mod 5.4 Cartomizer 5.5 E-liquid Chapter 6 U.S. E-cigarette and Vape Distribution Channel Outlook 6.1 U.S. E-cigarette and Vape Market Share By Distribution Channel, 2018 & 2025 6.2 Online 6.3 Retail Store Chapter 7 Competitive Landscape 7.1 Reynolds American Inc. 7.1.1 Company overview 7.1.2 Financial performance 7.1.3 Product benchmarking 7.1.4 Strategic initiatives 7.2 Imperial Brands 7.2.1 Company overview 7.2.2 Financial performance 7.2.3 Product benchmarking 7.2.4 Strategic initiatives 7.3 Altria Group, Inc. 7.3.1 Company overview 7.3.2 Financial performance 7.3.3 Product benchmarking 7.3.4 Strategic initiatives 7.4 Japan Tobacco Inc. 7.4.1 Company overview 7.4.2 Financial performance 7.4.3 Product benchmarking 7.4.4 Strategic initiatives 7.5 Philip Morris International 7.5.1 Company overview 7.5.2 Financial performance 7.5.3 Product benchmarking 7.5.4 Strategic initiatives 7.6 International Vapor Group 7.6.1 Company overview 7.6.1 Financial performance 7.6.2 Product benchmarking 7.6.3 Strategic initiatives 7.7 British American Tobacco 7.7.1 Company overview 7.7.2 Financial performance 7.7.3 Product benchmarking 7.7.4 Strategic initiatives 7.8 Nicquid 7.8.1 Company overview 7.8.2 Financial performance 7.8.3 Product benchmarking 7.9 Shenzhen IVPS Technology Co., Ltd. 7.9.1 Company overview 7.9.2 Financial performance 7.9.3 Product benchmarking 7.10 Shenzhen KangerTech Technology Co., Ltd. 7.10.1 Company overview 7.10.2 Financial performance 7.10.3 Product benchmarking
List of Tables TABLE 1 U.S. e-cigarette and vape market - Industry snapshot & key buying criteria, 2014 - 2025 TABLE 2 U.S. e-cigarette and vape market, 2014 - 2025 (USD Million) TABLE 3 U.S. e-cigarette and vape market, by product, 2014 - 2025 (USD Million) TABLE 4 U.S. e-cigarette and vape market, by component, 2014 - 2025 (USD Million) TABLE 5 U.S. e-cigarette and vape market, by distribution channel, 2014 - 2025 (USD Million) TABLE 6 Vendor landscape TABLE 7 U.S. e-cigarette and vape - Key market driver impact TABLE 8 U.S. e-cigarette and vape - Key market restraint impact
List of Figures FIG. 1 Market segmentation and scope FIG. 2 U.S. e-cigarette and vape market, 2014 - 2025 (USD Million) FIG. 3 U.S. e-cigarette and vape - Value chain analysis FIG. 4 U.S. e-cigarette and vape market dynamics FIG. 5 Coil temperature on temperature control Vs. variable wattage (in Fahrenheit) FIG. 6 Perceptions of the adult population regarding harmful effects of e-cigarettes compared to smoking, 2016 (percentage) FIG. 7 U.S. e-cigarette and vape - Company ranking analysis, 2018 FIG. 8 Key opportunities prioritized FIG. 9 U.S. e-cigarette and vape market - Porter's five forces analysis FIG. 10 U.S. e-cigarette and vape market - PESTEL analysis FIG. 11 U.S. e-cigarette and vape market, by product, 2018 & 2025 FIG. 12 U.S. e-cigarette and vape market, by component, 2018 & 2025 FIG. 13 U.S. e-cigarette and vape market, by distribution channel, 2018 & 2025
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