The Asia Pacific (APAC) region provides immense opportunity for both small and large e-liquid and cigarette players to enter and expand in the lucrative market. APAC e-liquid market is at a nascent stage, despite the presence of large number of smokers in the region, e-cigarettes have not yet become a commonplace consumer product. Most e-liquid manufactured in the region is exported to Western markets of Europe and U.S. Consortiums and associations are playing a crucial rule in increasing market penetration in Asian markets through public education campaigns highlighting the benefits of vapor products for adult smokers and acquainting them with new products. The prominent consortiums discussed in this segment are Asian Vape Association (AVA), Fact Asia, Malaysia E-Vaporizer and Tobacco Alternatives Association (MEVTA), and Philippine E-cigarette Industry Association (PECIA) among others.
Lack of regulation, low manufacturing costs and large smoking populations have become the driving force of the market. The report on the ‘APAC E-liquid Market’ is a meticulous compilation of the various facets of the e-liquid industry. After a thorough analysis of the current trends, the market dynamic chapter includes the key push and pull forces prevailing in the APAC e-liquid. Owing to the dependency of the market growth on the legal and regulatory framework, the report at each step has considered the effect of laws (both implemented and anticipated) in terms of regulations and taxation in estimation and forecast of the market size. Moreover, the key consortiums and compliance influencing the e-cigarette and e-liquid market across the continent have also been included in the report.
The report involves a mix of 25+ companies chosen on the basis of their market developments, revenue generation and market share in the industry. The companies profiled in the report include Hangsen, Anarchist Vapors, Falcon Flavors, Huizhoo Hangboo Biotech and Timiya among others.
Key Questions answered in the report:
- How will the key market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
- How will the intensity of competitive rivalry evolve through the forecast period?
- Which factors will be driving the market through the forecast period?
- What factors are currently challenging the APAC e-liquid market and how can they be addressed through the forecast period?
- Which consortiums are active in the market?
- Which compliances and certifications are necessary to make a product acceptable among the users (especially the first time vapers)?
- What are the prevalent e-liquid types and what is the market size for each of them?
- How will the APAC e-liquid market grow in the next ten years?
- Who are the key players in the APAC e-liquid market?
1 Research Scope and Methodology
1.1 Scope of the Study
1.2 Research Methodology
1.2.1 Primary Data Sources
1.2.2 Secondary Data Sources
2 Market Dynamics
2.2 Market Drivers
2.2.1 High Smoking Population and Need for Tobacco Alternatives
2.2.2 Emergence of Vape Shops and Online Distribution Channels
2.2.3 Cost Effectiveness
2.2.4 Product Innovation
2.2.5 Wide Variety of E-Liquid Flavours
2.3 Market Challenges
2.3.1 Stringent Regulatory Framework
2.3.2 Increase in Volume of Counterfeit Products
2.3.3 Unregulated Manufacturing in China
3 Competitive Insights
3.1 Key Strategies and Developments
3.1.1 Mergers and Acquisitions
3.1.2 Partnerships, Agreements, and Collaborations
3.1.3 Product Launch and Development
3.1.4 Business Expansion
3.2 Porter’s Five Forces Analysis
3.3 Buying Decision-Consumer Buying Behaviour
3.3.1 Choice of Bases/Carrier Liquid
3.3.3 Nicotine Level
3.3.4 Approval & Standards
3.3.7 Packaging & Labelling
4 APAC Key Consortiums and Alliances
4.1.1 Asian Vape Association (AVA)
4.1.2 Fact Asia
4.1.3 Malaysia E-Vaporizers and Tobacco Alternatives Association (MEVTA)
4.1.4 Tobacco Free Alternatives Association of India (TFFAI)
4.1.5 Philippine E-Cigarette Industry Association (PECIA)
4.1.6 Legal status of E-cigarettes and Related Products in APAC, By Country
5 APAC E-Liquid Market Analysis and Forecast, by Type
5.2 Market Overview
5.2.1 Pre-Filled E-Liquid
5.2.2 Bottled E-Liquid
6 APAC E-Liquid Market, by Source of Origin
6.1 Market Overview
7 APAC E-liquid Market, by Geography
7.1 Market Overview
7.1.7 South Korea
8 APAC E-liquid Market Analysis and Forecast, by Distribution Channel
8.1 Market Overview
8.1.1 Online Distribution Channel
8.1.2 Retail Distribution Channels
22.214.171.124 Convenience Stores (C-Stores)
126.96.36.199 Vape Shops
188.8.131.52 Others (Pharmacies, Drug Stores and Gas Stations)
9 Company Profile
9.1 Anarchist Vapors
9.1.1 Company Overview
9.2 Electronic Cigarette Just Fog Co., Ltd.
9.2.1 Company Overview
9.3.1 Company Overview
9.4 Falcon Flavors
9.4.1 Company Overview
9.5 Farsee Technology Co. Ltd.
9.5.1 Company Overview
9.6 Fcukin’ Flava
9.6.1 Company Overview
9.7 FeelLife Bioscience International Co., Ltd.
9.7.1 Company Overview
9.8 FirstUnion (Shenzhen) Technology Co., Ltd.
9.8.1 Company Overview
9.9.1 Company Overview
9.10 Huizhou Hangboo Biotech Co., Ltd.
9.10.1 Company Overview
9.11 Innokin Technology Co., Ltd.
9.11.1 Company Overview
9.12 ITC Limited
9.12.1 Company Overview
184.108.40.206 Financial Summary
9.12.3 SWOT Analysis
9.13 Japan tobacco, inc. (JT)
9.13.1 Company Summary
220.127.116.11.1 Overall Financials
18.104.22.168.2 Business Segments Revenue Mix
22.214.171.124.3 Financial Summary
9.14.1 Company Overview
9.15 Kanger Technology Co., Ltd.
9.15.1 Company Overview
9.16 Kimree, INC
9.16.1 Kimree, INC Summary
126.96.36.199 Financial Summary
9.16.3 SWOT Analysis
9.17 L-Rider Technology Co. Ltd.
9.17.1 Company Overview
9.18 Liquid Factory
9.18.1 Company Overview
9.19.1 Company Overview
9.20 Mystic Plumes
9.20.1 Company Overview
9.21 Oplus Technology Ltd.
9.21.1 Company Overview
9.22 Samurai Vapors Co. Ltd.
9.22.1 Company Overview
9.23 Shenzhen Smoore Technology Co., Ltd.
9.23.1 Company Overview
9.24 SK Biological Technology Co. Ltd.
9.24.1 Company Overview
9.25.1 Company Overview
9.26 Timiya Technology Co., Ltd
9.26.1 Company Overview
9.27 Top Q
9.27.1 Company Overview
9.28 TYGR TYGR
9.28.1 Company Overview
9.29 Yunnan Changning Dekang Biotechnology
9.29.1 Company Overview
List of Tables
Table 3.1 Key Mergers and Acquisitions
Table 3.2 Key Partnerships, Agreements, and Collaborations
Table 3.3 Key Product Launch and Developments
Table 3.4 Key Business Expansion Activities
Table 3.5 Key Events
Table 3.6 Comparison of Propylene Glycol (PG) and Vegetable Glycol (VG) as Carrier Liquid in E-Cigarette
Table 3.7 Country-wise E-cigarette and E-liquid Regulations
Table 5.1 APAC E-liquid Market by Type, 2015-202
Table 5.2 Pre-Filled E-Liquid Pricing by Key Vendors
Table 5.3 Bottled E-Liquid Pricing by Key Vendors
Table 6.1 APAC E-liquid Market Value ($Million), by Source of Origin, 2015-2025
Table 7.1 APAC E-liquid by Key Countries, 2015-202
Table 8.1 The APAC E-cigarette And Vaporizer Market by Distribution Channels, 2015-2025
Table 8.2 The APAC E-liquid Market by Retail Distribution Channels, 2015-2025
Table 9.1 Revenue Split (%) by Geography (2015)
Table 9.2 Revenue Split (%) by Geography (2015)
Table 9.3 Revenue Split (%) by Geography (2015)
Table 9.4 Revenue Split (%) by Geography (2015)
List of Figures
Figure 1 APAC E-Liquid Market Share, by Type (%), 2015 And 2025
Figure 2 APAC E-Liquid Market by Country: 2015 and 2025
Figure 3 APAC E-Liquid Market by Distribution Channel: 2015 and 2025
Figure 1.1 The APAC E-Liquid Market Scope
Figure 2.1 APAC E-liquid Market Drivers & Challenges
Figure 3.1 Porter’s Five Forces Analysis for the APAC E-cigarette Industry
Figure 3.2 Consumer Advocates for Smoke-Free Alternatives Association (CASAA): Research Results
Figure 3.3 Types of Prevalent E-Liquid Flavors
Figure 3.4 Choosing the Right Level of Nicotine in E-Cigarette
Figure 3.5 Prevalent Nicotine Distribution Levels
Figure 3.6 Label Requirement for E-Liquid Packaging
Figure 5.1 Advantages and Disadvantages of Pre-Filled E-Liquid
Figure 5.2 Advantages and Disadvantages of Bottled E-Liquid
Figure 7.1 Summarizing the E-cigarette Market in China
Figure 7.2 Regulations under the National Tobacco Control Law (China)
Figure 7.3 Impact of Regulations and Laws on the Sale of E-cigarettes and related products
Figure 7.4 Commercial Importation and Retail Sale of Non-nicotine E-cigarettes
Figure 8.1 Advantages of Online Distribution Channel
Figure 8.2 Advantages of Retail Distribution Channel
Figure 9.1 ITC Limited: Overall Financials ($Millions) 2013-2015
Figure 9.2 Japan Tobacco Corporation (JT): Overall Financials, ($Billion) 2013-2015
Figure 9.3 Japan Tobacco Corporation (JT): Business Segments Revenue Mix, ($Billion) 2011-2013
Figure 9.4 Kimree,Inc: Overall Financials ($Million); 2012-2014
Most of the e-liquids that are imported to the European and the U.S. market are manufactured in Asian countries such as China, Malaysia and Indonesia among others. More than 95% of the e-liquid in Russia are imported from China. E-cigarettes being relatively new to the market are subject to high price elasticity of demand. Since APAC offers relatively cheaper costs of labor and manufacturing, companies prefer to outsource their e-liquid manufacturing to this region. However, evidences from recent surveys prove that the public holds lesser faith in Asian manufacturing due to absence of regulatory sight. However, with the increasing investments in research and development activities and formulation of standards to regulate the manufacturing of e-liquids, the production of e-liquid in the APAC market will continue to grow at double digit rates throughout the forecast period. The low levels of entry barriers in the form of paltry capital requirements and absence of regulations have enabled a large number of players to enter the market, which have become its driving force.
The report titled “APAC E-liquid Market: Focus on Type, Origin, Geography, and Distribution Channel: Analysis & Forecast, 2016-2025” includes a thorough analysis of the push and pull forces influencing the widespread adoption of e-liquids in the APAC region. Moreover, special emphasis has been laid on current and future opportunities, prevalent distribution channels and impediments to successful growth of the market. Furthermore, considering the dependency of the market growth on the legal and regulatory framework and government initiatives, the report at each step has considered the effect of these factors
The APAC e-liquid market currently makes up only a meagre share of the global market and is valued at $291.83 million. As the proliferation of e-cigarettes in the region increases and Asia Pacific (APAC) market gains momentum the market is expected to become a multi-billion market by 2025. An exhaustive analysis of the key product types broadly categorized as prefilled and bottled is the key focus area of the report scope. Furthermore, the market has been meticulously tracked for the key countries, namely, Malaysia, India, China, Japan, Indonesia and Philippines. A mix of over 20+ companies chosen on the basis of their research and development, product launches, mergers and acquisitions, revenue generation and market share have been considered in the report. Some of these companies are Anarchist Vapors, Falcon Flavors, Hangsen, Mystic Plumes, Kimree, FirstUnion and Innokin among others.
- Anarchist Vapors
- Business Segments Revenue Mix
- Company Summary
- Electronic Cigarette Just Fog Co., Ltd.
- Falcon Flavors
- Farsee Technology Co. Ltd.
- Fcukin’ Flava
- FeelLife Bioscience International Co., Ltd.
- FirstUnion (Shenzhen) Technology Co., Ltd.
- Huizhou Hangboo Biotech Co., Ltd.
- ITC Limited
- Innokin Technology Co., Ltd.
- Japan tobacco, inc. (JT)
- Kanger Technology Co., Ltd.
- Kimree, INC
- Kimree, INC Summary
- L-Rider Technology Co. Ltd.
- Liquid Factory
- Mystic Plumes
- Oplus Technology Ltd.
- Overall Financials
- SK Biological Technology Co. Ltd.
- Samurai Vapors Co. Ltd.
- Shenzhen Smoore Technology Co., Ltd.
- TYGR TYGR
- Timiya Technology Co., Ltd
- Top Q
- Yunnan Changning Dekang Biotechnology