The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2017
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Growth in vapour products saw continuing deceleration in 2016, thanks to ongoing moderation in ‘”traditional” e-cigarette categories – such as cig-a-likes and open systems - balanced by the rapid emergence of heated tobacco, Regulation, innovation and – perhaps most of all –demographic and consumer behavioural shifts, will determine the future balance of consumption in the wider category.
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The total global vapour products market reached a value of USD12 billion in 2016. The US remained the largest market, but heated tobacco in Japan contributed most to growth in sales. Vapour products is rapidly eclipsing more well-established tobacco categories, and by 2020 will be the single largest category, outside cigarettes.
Growth of 34% globally in 2016 represented a continued deceleration of growth compared to the 43% experienced in 2015. This ongoing slowdown in growth is driven by moderation in the cig-a-likes and open systems categories; compensated by extraordinarily rapid growth in heated tobacco.
The highest rate of growth within vapour products in 2016 was recorded not by heated tobacco products, but by non-cig-a-like closed systems (AKA pod mods). Populated by a coterie of brands from tobacco companies and strong indies, the category offers consumers convenience and satisfaction.
An estimated 35 million people were regular dual or sole users of e-cigarettes and vapour products globally in 2015. While survey data vary by market, it is likely that a small majority of consumers remain dual users, although over time sole users will account for a greater proportion of the consumer base.
The dominant open vaping systems category recorded the poorest growth within vapour products (excluding the all but redundant single-use cig-a-likes); a sign partly of category maturity, and partly due to regulation, consumer uncertainty and competition from other categories beginning to bite.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.