Pune, India, July 13, 2016/MRFR Press Release/- Market research future published a cooked research report on Global E-Cigarettes & Vaporizer Market. E-Cigarettes & Vaporizer market volume is expected to grow at a CAGR of more than 25% from 2016 to 2021. North America is accounting for more than 45 % market share and thus is the largest market of E-Cigarettes & Vaporizer in the world. Asia Pacific market is expected to grow at a highest CAGR over the forecast period 2016 – 2021.
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The market has evolved through three generations and is standing at the point of influx, wherein a plethora of companies are entering, thanks to the low entry barriers such as government policy and capital requirements. The global e-cigarette market is poised to grow nearly USD 25 billion by 2021, at an estimated CAGR over 25% from 2015 to 2025.
Alarming health issues caused due to tobacco is the main driver to promote growth in the market
Grwoing number of cancer paitients due to excessive consumptiuonm of tobacco worldwide is one of the major reaasons for the consumers to quit tobacco, However, several people find it difficutl to get rid of the tobacco addiction and hence prefer e-cigarette over conventional cigarettes. Moreover, several govt initiatives to promote awareness about the health issues caused by tobacco consumptio has increased number of people siwtching from conventional cigerettes to e-cigarettes over the past couple of years.
North America to dominate the world market for E-Cigarettes & Vaporizer, Europe closely follows
Currently, North America is the largest consumer of E-Cigarettes & Vaporizer in the world market. It is closely followed by Europe. Although, China began as the first market for E-Cigarettes & Vaporizer, the U.S. and developed markets from Europe became the prime consumers of E-Cigarettes & Vaporizer, due to which these two regions collectively account for over 80% of the world market.