Major companies operating in the global pod vapes market include British American Tobacco, JUUL Labs, Inc., Imperial Brands PLC, Shenzhen Eleaf Electronics Co., Ltd., Nutrovape, KININ, VapePod, NJOY, Mistic E Cigs, and Philip Morris International Management SA.
Vaporizers are also known as vapes. A vape is used to inhale liquids containing tobacco or nicotine. Generally, vapes are available in four different formats: pod system, closed system, open system, and open customizable system. Demand for pod systems or pod vapes is rising. A pod vape consists of a rechargeable battery, cotton coil, e-liquid, and a mouth piece. The battery heats the cotton coil, which vaporizes the liquid formulation or e-liquid. This vapor is inhaled by the pod vape user. Pod vapes contain nicotine.
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A pod vape is a new and innovative product available in the market and is used by the smokers. Pod vapes do not create smoke and are less harmful than conventional cigarettes. This, in turn, is increasing the demand for these vapes among smokers. According to Imperial Brands plc, the U.K.-based multinational tobacco company, the global pod vapes market is estimated to expand during the forecast period. Most developed countries are focusing on reducing the number of smokers to improve the overall health of the population. Pod vapes do not burn like a conventional cigarette and liquid vapor is emitted from pod vapes. Governments in developed countries are promoting pod vapes for smokers to reduce the harmful effects of conventional cigarettes on smokers and surrounding environment. Individual consumers, who intend to find alternatives to smoking are also adopting pod vapes.
Developing countries are projected to create lucrative opportunities for the pod vapes market. Asia Pacific region has the largest number of smokers in the world. Factors such as rise in disposable income, increase in awareness about tobacco related problems, changing lifestyle, and less penetration of pod vapes as compared to conventional cigarettes are projected to create lucrative opportunities for pod vapes manufactures in Asia Pacific.
Presence of nicotine in pod vapes is likely to restraint for the adoption of pod vapes across the globe. Certain age regulations have been imposed by various governments on the use of pod vapes. This, in turn, is anticipated to inhibit the market.
Based on product construction, the global pod vapes market can be segmented into open pod vapes systems and closed pod vapes systems. In terms of product type, the market can be segregated into pre-filled pod vapes and customized pod vapes. Based on distribution channel, the global pod vapes market can be bifurcated into online and offline.
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In terms of region, the global pod vapes market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to be a major region for the pod vapes market during the forecast period. The U.S. is projected to account for a large share of the market in North America, followed by Canada. Europe constitutes for a significant share of the market. Germany, the U.K., France, Italy, and Spain are major countries for the market in the region. The market in Asia Pacific is anticipated to expand at a substantial pace during the forecast period. China and India are two major cigarette consuming countries in Asia Pacific.
The Government of India invests considerably on cancer treatment caused due to tobacco consumption. India is likely to create lucrative opportunities for pod vape manufacturers, as pod vapes are less harmful than conventional cigarettes. China is expected to account for a dominant share of the market in Asia Pacific. Japan, South Korea, and India are major countries for the market in the region. Middle East & Africa is anticipated to account for significant share of the pod vapes market. GCC is projected to account for a major share of the market in the region, followed by South Africa. Brazil is likely dominate the market in South America during the forecast period.