The Japan e-cigarette market reached a value of $1.2 billion in 2018 and is predicted to have a valuation of $4.5 billion by 2024. According to the estimates of P&S Intelligence, a market research company based in India, the market would demonstrate a CAGR of 22.6% between 2019 and 2024. The key factors fueling the expansion of the market are the soaring product innovations and advancements being made by manufacturers and the rising requirement for ash-less and smokeless vaping in the country.
The smoke produced from tobacco burning is equally harmful to the environment as it is to humans. This is the main reason behind the growing usage of e-cigarettes in Japan. These cigarettes eliminate smoke production and instead, generate mist that dissolves in the air very easily. This eliminates the various side-effects of tobacco smoking to a great extent. As these cigarettes don’t generate ash and smoke, they are used in places where cigarette smoking is prohibited.
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The other important factor driving the advancement of the Japanese e-cigarette market is the rapid advancement being made in the e-cigarette technology in the country. Many tobacco manufacturing companies are focusing heavily on the development of novel technologies for gaining an edge over their rivals. They are launching innovative and advanced products that can help them expand their presence in developing nations. For example, British American Tobacco p.l.c. developed two new cigarettes namely VypeiSwitch Maxx and VypeiSwitch in December 2018.
When product is taken into consideration, the market is classified into vaporizer, cig-a-like, t-vapor, and vape mod. Out of these, the t-vapor category recorded the highest growth in the market in the past years. The cig-a-like category is further divided, depending on type, into disposable and rechargeable. Between these, the rechargeable cig-a-like sub-category registered higher growth in the last few years. This was because of the continuous and longer usage characteristic of these cigarettes.
People belonging in the middle-age bracket (35-44 years) are the primary consumers of these types of e-cigarettes. When e-cigarette aftermarket is taken into consideration, the Japanese e-cigarette market is categorized into battery, charger, refill, and others, wherein, the others category includes tanks, coils, and atomizers. Amongst these, the refill category recorded the highest growth in the past. The refill category is divided into non-nicotine and nicotine-based liquids, between which, the nicotine-based category registered higher growth in the past years.
The advent of a diverse range of vaping devices and e-cigarettes in the market is one of the biggest trends currently being witnessed in the Japanese e-cigarette market. These cigarettes are greatly impacting the lifestyles of the people addicted to cigarette smoking and those wanting to quit smoking. Due to the lesser negative effects of e-cigarette consumption than the traditional cigarettes, the usage of these cigarettes is growing rapidly in the country.
Hence, it can be said with confidence that the market will exhibit huge expansion in the coming years, primarily because of the rising popularity of e-cigarettes and the growing demand for smokeless smoking in the country.