E-cigarettes are also known as vapor cigarettes, and these cigarettes are anticipated to pave the way for a tobacco-free nature. Consumers are opting for alternatives to cigarettes as they have trouble quitting tobacco. Nicotine gums and patches are other replacement products that work for the same. E-cigarettes are an even more viable option for smokers who are looking for something better. Electronic cigarettes make a person feel like they are smoking the real thing and also helps reduce stress and anxiety levels. e-cigarettes promise peril
Herbert Gilbert filed a patent on “Electronic Cigarette” in 1963. Later, a Chinese Pharmacist Hon Lik invented an e-cigarette in 2000 by using nicotine and used propylene glycol to dilute nicotine which is the base ingredient for most of the electronic liquids. Hon Lik filed a patent on an Electronic cigarette in 2003. The first electronic cigarette was designed by “RUYAN” Company (Hon Lik won’s company) in 2003.
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Electronic Cigarettes majorly consists of 3 parts. They are Battery, Atomizer or Cartomizer and Electronic liquid. These cigarettes are made of different types of plastics or composites. Usually, a rechargeable battery used to generate heat which is used to vaporize the liquid. It is activated either by a push button or automatically when the user inhales. Atomizer consists of a coil which gets heated up by the battery. When the coil is heated, due to that heat, the liquid gets vaporized. E-cigarettes offer intense, long-lasting flavors and are durable.
E-cigarettes fall into three categories namely disposable, rechargeable, modular. Out of these variants, modular e-cigarettes allow for greater customization. E-cigarettes do not use the same ingredients as traditional cigarettes. Conventional cigarettes have 4,000 vicious chemicals including tar, lead, carbon monoxide, pyridine, phenol, nickel, formaldehyde, chromium, and different harmful compounds which lead to a plethora of health glitches. By vaping, a person inhales four ingredients: propylene glycol, vegetable glycerine, nicotine, and food grade flavoring which do not inflict any harm on the person vaping: even in the long run.
The significant profiles for E-cigarettes include:
- EX series from V2
- Xeo Void
- Halo Tracer Twist
- Vapor 2 Trinity
The key positive strengths for e-cigarette market include easy availability, less carcinogenic effect, reduced harm to others, availability in multiple flavors and is cost-effective. As governments are emphasizing to spread awareness about nicotine use and other health problems associated with smoking tobacco, consumers are switching to e-cigarettes as these are apt substitutes for tobacco products.
There is a snag though, lack of awareness in a few countries like India, Brazil, Singapore, Saudi Arabia hinder the market.
In a brief time, the e-cigarette world has developed into a thriving business sector with billions of cigarette smokers across the globe turning to e-cigarettes. Due to the plunge in revenue from traditional cigarettes conjoined with increased tobacco taxes are forcing companies to invest in the global e-cigarette market. The E-cigarettes or e-vaping devices is being aggressively promoted as the exciting alternative to conventional cigarettes.
British American Tobacco (BAT) is keenly involved in the development of e-cigarettes as an alternative to traditional cigarettes.
Marlboro-maker Phillip Morris International has launched IQOS; a smokeless cigarette which is usually a hybrid between analogs and electronic cigarettes. Marlboros recent investments of USD 3.4 Billion (INR 22000 Cr) for research and development in e-cigarettes is also a contributing factor to the global e-cigarette market.
Luxury brands in the market offer enhanced product customization as per the customer requirements with a grandeur which made the luxury brands obtain dominant positions in the overall e-cigarettes market.
There is a glaring consumer demand for innovation in the variety of flavors and nicotine levels because most of the consumers are young to middle age 21 to 45.
Tobacco companies are focusing on the development of e-cigarettes through technology collaboration and license agreements.
Regulations from various governments across the globe are the major pothole for this e-cigarettes market worldwide.
Global e-cigarettes market value is estimated to reach up to USD 30 Billion by the end of 2024 from approximately USD 13 Billion in the year 2017 with a CAGR of approximately 25% during 2018-2024. E-cigarettes market is witnessing the development of innovative products with additional features like multiple flavors, enhanced atomizers. Product customization and growing health awareness along with advancements in electronic device technology lead to the growth of this market.