Asia Pacific E-Cigarette Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 1.93 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia Pacific E-Cigarette Market Analysis
The Asia-Pacific E-Cigarette Market is projected to register a CAGR of 1.93% during the forecast period.
E-cigarettes, or electronic nicotine delivery systems (ENDS) are being increasingly used by people as a substitute for smoking or 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. Other factors driving market growth include the growing popularity of e-cigarettes among millennials and rising health concerns among the geriatric population. For instance, in February 2022, RELX and SMOORE, the leading player in the Chinese market, are committed to cross-disciplinary fundamental research on atomization mechanisms to investigate the long-term health effects of vaping.
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 market.
To increase their consumer base, e-cigarette manufacturers are introducing new device configurations and products at low prices. Modular e-cigarettes are becoming more popular due to the customization options available, which allow users to interchange parts such as coils, atomizers, and battery mods to achieve the desired flavor and improve the vaping experience. For instance, in June 2022, Voopoo launched its 3 latest pod products such as VMATE E, VMATE infinity edition, and Drag Q infinity edition at the Indonesian Vape exhibition. As per the company's claim, the V-series products are equipped with a newly upgraded cartomizer, uses 5A freshness seal technology to lock in the fresh taste and aroma of the e-liquid, while the Fresnel lens texture design effectively reduces the e-exposure liquid to light, preserving the fresh taste for users.
However, the stringent regulations in the major countries of the region and concerns among smokers regarding the presence of toxicants in e-liquids might hamper the potential market.
Asia Pacific E-Cigarette Market Trends
Demand for Nicotine-free Products
In recent times, a significant number of consumers are turning to vaping, instead of traditional cigarettes, in the region in an attempt to decrease the vulnerability to health hazards. Moreover, vaping attracts even non-smokers to try e-cigarettes, as there are flavors without any nicotine content. The nicotine content is generally very less in e-liquids, as compared to cigarettes. The emergence of nicotine-free e-liquids has created a new market for non-smokers in Asia-Pacific. Doozy Vape Co., Zeus Juice, Elf Bar, Vampire Vape, and various other brands are available as nicotine-free options in the market. Over the past few years, flavors have gained more importance in this segment, as they provide a much better and more satisfying experience to the users who choose to vape, without nicotine content. In November 2022, according to the Japanese Government, around 83% of people aged 18 and older in Japan find tobacco smoke unpleasant which might push the market for nicotine-free products in the country.
E-liquids are also less expensive than tobacco products and come in a variety of price ranges which makes them more affordable. Furthermore, vaping has the potential to assist smokers in quitting smoking, making e-liquid an effective smoking substitute. The rising prices of traditional cigarettes have increased global demand for e-liquids and e-cigarettes, driving the market. Technologically advanced e-cigarettes are gaining market popularity, increasing the demand for various e-liquids to enhance the vaping experience. For instance, In February 2019, Japan Tobacco International introduced a new line of Ploom devices. The company launched three products at the same time. Smokers can choose between Ploom Tech vaporizers, the Ploom Tech,+ and the Ploom S. The brand is highlighting the fact that these devices do not emit any tobacco odor.
Online Retail Drives the Retail Sector
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. The rising number of online retailers is also witnessed in the Asia-Pacific market, which drives the market studied. In addition, rising internet penetration in the Asia-Pacific region has promoted the market for e-cigarettes through online channels, since manufacturers are advertising their products on various social media platforms. For instance, in 2020, according to International Telecommunication Union (ITU), 90.2% of the Japanese population uses the internet which might increase the sales of e-cigarettes in the country.
Furthermore, with the rise of e-commerce, manufacturers are either selling their products on third-party websites or launching their online stores. The growing possibility of selling these products via e-commerce has promoted the key players to improve the security and dependability of their online purchases which might shape the market for e-cigarettes in the Asia Pacific region. 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.
Asia Pacific E-Cigarette Industry Overview
The Asia-Pacific market is highly competitive. Philip Morris International, JUUL Labs Inc., British American Tobacco PLC, Smoore International Holdings Ltd, and Japan Tobacco International have the highest market shares. The global players dominate the market studied owing to their wide product offerings and high-quality products. Improved technologies are required by the new players entering the market to sustain themselves in the competitive Asia-Pacific e-cigarette market. The Asia-Pacific e-cigarette market is expected to witness significant growth over the forecast period due to the development of several marketing strategies, such as product innovation, product differentiation, packaging, and branding of the products across the Asia-Pacific region to attract the target customers.
Asia Pacific E-Cigarette Market Leaders
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Philip Morris International
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JUUL Labs, Inc.
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British American Tobacco p.l.c.
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Smoore International Holdings Ltd
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Japan Tobacco International
*Disclaimer: Major Players sorted in no particular order
Asia Pacific E-Cigarette Market News
- November 2022: Moti Planet expanded its business operation in the Malaysian market by launching its flagship product MOTI K Pro. At International Electronic Cigarettes Exhibitions in Malaysia, the company has also presented other products such as MIOTI X Mini, and MOTI X Play, as well as disposable new products MOTI BOTO 6000, MOTI Box R7000, and the industry's first replaceable disposable electronic cigarettes were also presented in exhibitions i.e., MOTI One 4000.
- August 2021: Philip Morris International Inc. launched IQOS ILUMA. According to the company, the product is one of the most innovative additions to its growing portfolio of smoke-free products for adults who would otherwise smoke or use nicotine products.
- August 2021: Japan Tobacco Inc. launched Ploom X, a next-generated heated tobacco device. Ploom X plans to sell across Japan through convenience stores and selected tobacco retail stores.
Asia Pacific E-Cigarette Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 E-cigarette Devices
5.1.2 E-liquid
5.2 Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3 Geography
5.3.1 New Zealand
5.3.2 Bangladesh
5.3.3 Indonesia
5.3.4 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Philip Morris International
6.3.2 JUUL Labs, Inc.
6.3.3 British American Tobacco p.l.c.
6.3.4 Vaping Gadget Limited
6.3.5 Smoore International Holdings Ltd
6.3.6 Japan Tobacco International
6.3.7 Imperial Brands
6.3.8 Vape Company
6.3.9 RELX International Enterprise HK Limited
6.3.10 MOTI Planet
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia Pacific E-Cigarette Industry Segmentation
A device called an e-cigarette heats a liquid to create vapors that users inhale. Another widespread name for using electronic cigarettes is vaping.
The Asia-Pacific e-cigarette market is segmented by product, distribution channel, and geography. Based on the product type. e-cigarettes are segmented into e-cigarette devices and e-liquid. Based on distribution channels, the market is segmented into offline retail stores and online retail stores. Based on geography, the market is segmented into, New Zealand, Indonesia, Bangladesh, and the Rest of Asia-Pacific. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Product Type | |
| E-cigarette Devices | |
| E-liquid |
| Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Stores |
| Geography | |
| New Zealand | |
| Bangladesh | |
| Indonesia | |
| Rest of Asia-Pacific |
Asia Pacific E-Cigarette Market Research FAQs
What is the current Asia-Pacific E Cigarettes Market size?
The Asia-Pacific E Cigarettes Market is projected to register a CAGR of 1.93% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific E Cigarettes Market?
Philip Morris International, JUUL Labs, Inc., British American Tobacco p.l.c., Smoore International Holdings Ltd and Japan Tobacco International are the major companies operating in the Asia-Pacific E Cigarettes Market.
What years does this Asia-Pacific E Cigarettes Market cover?
The report covers the Asia-Pacific E Cigarettes Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific E Cigarettes Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific E-Cigarette Industry Report
Statistics for the 2024 Asia-Pacific E-Cigarette market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Asia-Pacific E-Cigarette analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Asia-Pacific E-Cigarette Market Report Snapshots
