P&S Intelligence issued the following announcement on July 3.
Japan e-cigarette market is expected to reach $4.5 billion by 2024, growing at a CAGR of 22.6% from 2019-2024. Fostering demand for smokeless and ash-less vaping, increasing product innovations by manufacturers, and focus on mitigating health risks, are the key drivers supporting the growth of Japan e-cigarette market. Additionally, growing awareness of harmful effects of traditional smoking has led to rise in adoption of e-cigarettes including tobacco heated products among the populace.
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On the basis of e-cigarette aftermarket, the market has been classified into refill, battery, charger, and others, wherein others include atomizers, tanks, and coils; among these, refill category held the largest share in 2018. Moreover, refill market has been bifurcated into nicotine-based and non-nicotine-based liquids, of these, nicotine-based liquid category held the largest share in the Japanese e-cigarette market in 2018. Also, with e-cigarettes being marketed as an alternative for tobacco cigarettes, non-nicotine-based liquid category is projected to generate more demand over the forecast period.
Based on product, Japan e-cigarette market has been categorized into vape mod, vaporizer, t-vapor, and cig-a-like. Among these, t-vapor held the largest revenue share in 2018. Further, on the basis of type, cig-a-like has been divided into rechargeable and disposable, of these, rechargeable cig-a-like category held the largest share in 2018. The flexibility of continuous usage provided by this type of cig-a-like has been a major driving factor for its popularity and adoption. Middle age populace (age group 35-44) were observed as the major consumer segment for this type of e-cigarettes during the historical period.
Browse detailed report on "Japan E-Cigarette Market Research Report: By Product (Cig-a-like, Vaporizer, Vape Mod, T-Vapor), Gender, Age-Group, Distribution Channel (Vape Shops, Online, Hypermarket/Supermarket, Tobacconist) Regional Insight (Hokkaido, Tohoku, Kanto, Chubu, Kansai, Chugoku, Shikoku, Kyushu & Okinawa) – Industry Size, Share, Competition Analysis, and Growth Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/japan-e-cigarette-market
Continuous development in the e-cigarette technology is driving the e-cigarette market in Japan. Tobacco manufacturers are increasingly focusing on new technology development to have an edge over their competitors. Major tobacco companies are introducing numerous innovative products that could assist them to increase their footprint across emerging markets. For instance, in December 2018, British American Tobacco p.l.c. launched two new e-cigarettes – VypeiSwitch and VypeiSwitch Maxx, powered by innovative vaping technology, replacing the traditional coil and wick heating system. Manufacturers are focusing on continuous development for their e-cigarette technology to evolve their products to meet the evolving consumer preferences and behavior.
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The Japan e-cigarette market is highly competitive in nature, with companies such as Philip Morris International Inc., Japan Tobacco Inc., and British American Tobacco plc, operating as key players, acquired majority of the share in 2018; wherein Philip Morris International plc is the leading player owing to the success of its product “IQOS”, T-Vapor product type, in the country. Japan Tobacco Inc. held second position in the market, attributed to their product “Ploom TECH” which garnered significant sales volume in the country.
Some of the major players in the Japan e-cigarette market include Philip Morris International Inc., British American Tobacco p.l.c., Altria Group Inc., Japan Tobacco Inc., Imperial Brands PLC, JUUL Labs Inc., Shenzhen iSmoka Electronics Co., Ltd., Shenzhen IVPS Technology Corporation Ltd., Innokin Technology Co. Ltd, Shenzhen Kanger Technology Co., Ltd., and Pax Labs, Inc.
Original source can be found here.