Overview of E-cigarette Market
Market Size of E-cigarette in Global Market
E-cigarette has emerged as an innovated electronic consumer product with the continuous growth of market acceptance. The global e-cigarette market is currently in the growth stage of development. According to Frost & Sullivan, the global e-cigarette market in terms of retail revenue grew from USD 5.1 billion in 2011 to USD 17.7 billion in 2016, at a CAGR of 28.5%. It is expected to grow at a CAGR of 25.5% from 2017 to 2021 and to reach USD 60.9 billion in 2021.
The robust growth of the global e-cigarette market is mainly attributable to increasing consumer acceptance of e-cigarette products, aggressive market campaigns launched by the tobacco companies, and the accelerated innovation and product development by electronic manufacturers.
Leading E-cigarette Brands in Global Market
The global e-cigarette retail sales market was fragmented with approximately 15.8% of aggregated market share from top three brands in 2016. Vuse was the leading brand in global e-cigarette retail sales market with a market share of approximately 6.2% in 2016 in terms of sales value, followed by Logic (5.4%) and blu (4.2%).
Market Size of E-cigarette Manufacturing in China
The changing consumer behaviour and increasing penetration have largely given rise to e-cigarettes during the past few years. At the same time, the retailers have launched various promotional campaigns to promote the use of e-cigarette. From 2011 to 2016, market size of e-cigarette manufacturing by revenue increased significantly from CNY 7.0 billion in 2011 to CNY 18.8 billion in 2016, representing a CAGR of 21.9%.
Along with gradually automated production lines, the China e-cigarette manufacturing market is expected to enjoy continuous growth in the next five years. In 2021, market size is forecasted to reach CNY 54.0 billion, increasing at a CAGR of 20.3% from 2017 to 2021.
