Market Size of Asia-Pacific E Cigarettes Industry
| 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 |
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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.
