Growing awareness about the ill-effects of tobacco smoke inhalation and technological advancements are leading to the progress of the South Korean e-cigarette market. From $874.3 million in 2018, the market is predicted to expand to $3.5 billion by 2024 at a 24.3% CAGR during the forecast period (2019-2024). Electronic cigarettes do not contain tobacco, rather come with a nicotine solution in a refill or vial, which, on being burnt, creates mist instead of smoke.
The product segment of the South Korean e-cigarette market is categorized into t-vapor, vaporizer, vape mod, and cig-a-like. Among these, vaporizers dominated the market during the historical period (2014-2018) in terms of volume and value, as these offer a similar experience provided by traditional cigarettes. While these will keep leading the market in the forecast period, t-vapors would experience the highest revenue CAGR (30.6%), with global brands competing intensely to capitalize on their growing popularity.
The various distribution channels for e-cigarettes in the country include vape shops, tobacconists, hypermarkets/supermarkets, and online platforms. Among these, hypermarkets/supermarkets, vape shops, and tobacconists accounted for almost 65.0% value share in the South Korean e-cigarette market in 2018. During the forecast period, online channels will experience the fastest growth as manufactures are increasingly using them to sell their products. As the health effects of such products are still unclear, the national government increased the taxes on e-cigarettes by 117.0% in 2015, making manufacturers look for alternative sales platforms.
South Korea E-Cigarette Market Segmentation
Market Segmentation by Product
Cig-a-like
Disposable
Rechargeable
Vaporizer
Open tank
Closed system
Vape Mod
T-Vapor
Heat-not-burn
Infused
Market Segmentation by Gender
Male
Female
Market Segmentation by Age-Group
16-24
25-34
35-44
45-54
55-65
65+
Market Segmentation by Distribution Channel
Vape Shops
Online
Hypermarket/Supermarket
Tobacconist
Others
Market Segmentation by Region
Chungcheong
Gangwon
Gyeonggi
Gyeongsang
Jeolla
South Korea E-Cigarette Aftermarket Segmentation
By Type
Refill
By liquid type
Nicotine-based
Non-nicotine based
By flavor
Fruit
Tobacco
Menthol
Candy
Savory/Spice
Bakery/Dessert
Beverage
Menthol Tobacco
Others
Battery and charger
Others
By Region - Chungcheong, Gangwon, Gyeonggi, Gyeongsang, and Jeolla
Table of Contents
Chapter 1. Research Background1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 E-Cigarette Market Segmentation
1.3.1.1 Market Segmentation by Product
1.3.1.2 Market Segmentation by Gender
1.3.1.3 Market Segmentation by Age-Group
1.3.1.4 Market Segmentation by Distribution Channel
1.3.1.5 Market Segmentation by Region
1.3.2 South Korea E-Cigarette Aftermarket Segmentation
1.3.3 Analysis Period
1.3.4 Market Data Reporting Unit
1.3.4.1 Value
1.3.4.2 Volume
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Product
4.1.1.1 Cig-a-like
4.1.1.1.1 Disposable
4.1.1.1.2 Rechargeable
4.1.1.2 Vaporizer
4.1.1.2.1 Open tank
4.1.1.2.2 Closed system
4.1.1.3 Vape mod
4.1.1.4 T-Vapor
4.1.1.4.1 Heat-not-burn
4.1.1.4.2 Infused
4.1.2 By Distribution Channel
4.1.2.1 Vape shops
4.1.2.2 Hypermarket/Supermarket
4.1.2.3 Online
4.1.2.4 Tobacconist
4.1.2.5 Others
4.1.3 By Gender
4.1.3.1 Male
4.1.3.2 Female
4.1.4 By Age-Group
4.1.4.1 16-24
4.1.4.2 25-34
4.1.4.3 35-44
4.1.4.4 45-54
4.1.4.5 55-65
4.1.4.6 65+
4.2 Definitions of Aftermarket Segments
4.2.1 By Type
4.2.1.1 Refill
4.2.1.1.1 By liquid type
4.2.1.1.1.1 Nicotine-based liquid type
4.2.1.1.1.2 Non-nicotine based liquid type
4.2.1.1.2 By flavor
4.2.1.1.2.1 Fruit
4.2.1.1.2.2 Tobacco
4.2.1.1.2.3 Menthol
4.2.1.1.2.4 Candy
4.2.1.1.2.5 Savory/spice
4.2.1.1.2.6 Bakery/dessert
4.2.1.1.2.7 Beverage
4.2.1.1.2.8 Menthol tobacco
4.2.1.1.2.9 Others
4.2.1.2 Battery and charger
4.2.1.3 Others
4.3 Value Chain Analysis
4.4 Market Dynamics
4.4.1 Trends
4.4.1.1 Introduction of various flavors and fragrances
4.4.1.2 Increasing R&D investment in technology
4.4.2 Drivers
4.4.2.1 Shift toward e-cigarettes
4.4.2.2 Technology advancement in product design
4.4.2.3 Impact analysis of drivers on market forecast
4.4.3 Restraints
4.4.3.1 Regulation on nicotine containing e-liquids
4.4.3.2 Impact analysis of restraints on market forecast
4.4.4 Opportunities
4.4.4.1 Customized liquid flavors gaining popularity
4.5 Porter's Five Forces Analysis
4.6 Government Regulation/Taxes
Chapter 5. South Korea Market Size and Forecast
5.1 By Product
5.1.1 Cig-a-Like Market, by Type
5.1.2 Vaporizer Market, by Type
5.1.3 T-Vapor Market, by Type
5.2 By Gender
5.3 By Age Group
5.4 By Distribution Channel
5.5 By Region
5.6 South Korea E-Cigarette Aftermarket, By Type
5.6.1 E-Cigarette Refill Aftermarket, By Liquid Type
5.6.2 E-Cigarette Refill Aftermarket, By Flavor
5.7 By Region
Chapter 6. Competitive Landscape
6.1 List of E-Cigarette Manufacturers
6.2 Key Players and Their Presence in Different Segments of E-Cigarette Market
6.3 South Korea Market Share Analysis of Key Players
6.4 Recent Activity of Major Players
6.5 Strategic Developments of Key Players
6.5.1 Mergers and Acquisitions
6.5.2 Geographic Expansion
6.5.3 Product Launches
Chapter 7. Company Profiles
7.1 British American Tobacco p.l.c.
7.1.1 Business Overview
7.1.2 Product and Service Offerings
7.1.3 Key Financial Summary
7.1.4 SWOT Analysis
7.2 Altria Group Inc.
7.2.1 Business Overview
7.2.2 Product and Service Offerings
7.2.3 Key Financial Summary
7.2.4 SWOT Analysis
7.3 Japan Tobacco Inc.
7.3.1 Business Overview
7.3.2 Product and Service Offerings
7.3.3 Key Financial Summary
7.3.4 SWOT Analysis
7.4 Imperial Brands PLC
7.4.1 Business Overview
7.4.2 Product and Service Offerings
7.4.3 Key Financial Summary
7.4.4 SWOT Analysis
7.5 Philip Morris International Inc.
7.5.1 Business Overview
7.5.2 Product and Service Offerings
7.5.3 Key Financial Summary
7.5.4 SWOT Analysis
7.6 JUUL Labs Inc.
7.6.1 Business Overview
7.6.2 Product and Service Offerings
7.7 Shenzhen iSmoka Electronics Co., Ltd.
7.7.1 Business Overview
7.7.2 Product and Service Offerings
7.8 Shenzhen IVPS Technology Corporation Ltd.
7.8.1 Business Overview
7.8.2 Product and Service Offerings
7.9 Innokin Technology Co. Ltd.
7.9.1 Business Overview
7.9.2 Product and Service Offerings
7.10 Shenzhen Kanger Technology Co., Ltd.
7.10.1 Business Overview
7.10.2 Product and Service Offerings
7.11 Korea Tobacco & Ginseng Corporation (KT&G)
7.11.1 Business Overview
7.11.2 Product and Service Offerings
7.11.3 Key Financial Summary
7.11.4 SWOT Analysis
Chapter 8. Appendix
8.1 Abbreviations
8.2 Sources and References
8.3 Related ReportsList of Tables
TABLE 1 ANALYSIS PERIOD OF THE STUDY
TABLE 2 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
TABLE 3 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
TABLE 4 SOUTH KOREA E-CIGARETTE MARKET, BY PRODUCT, $M (2014-2018)
TABLE 5 SOUTH KOREA E-CIGARETTE MARKET, BY PRODUCT, $M (2019-2024)
TABLE 6 SOUTH KOREA E-CIGARETTE MARKET, BY PRODUCT, ‘000 UNITS (2014-2018)
TABLE 7 SOUTH KOREA E-CIGARETTE MARKET, BY PRODUCT, ‘000 UNITS (2019-2024)
TABLE 8 SOUTH KOREA CIG-A-LIKE MARKET, BY TYPE, $M (2014-2018)
TABLE 9 SOUTH KOREA CIG-A-LIKE MARKET, BY TYPE, $M (2019-2024)
TABLE 10 SOUTH KOREA VAPORIZER MARKET, BY TYPE, $M (2014-2018)
TABLE 11 SOUTH KOREA VAPORIZER MARKET, BY TYPE, $M (2019-2024)
TABLE 12 SOUTH KOREA T-VAPOR MARKET, BY TYPE, $M (2014-2018)
TABLE 13 SOUTH KOREA T-VAPOR MARKET, BY TYPE, $M (2019-2024)
TABLE 14 SOUTH KOREA E-CIGARETTE MARKET, BY GENDER, $M (2014-2018)
TABLE 15 SOUTH KOREA E-CIGARETTE MARKET, BY GENDER, $M (2019-2024)
TABLE 16 SOUTH KOREA E-CIGARETTE MARKET, BY AGE GROUP, $M (2014-2018)
TABLE 17 SOUTH KOREA E-CIGARETTE MARKET, BY AGE GROUP, $M (2019-2024)
TABLE 18 SOUTH KOREA E-CIGARETTE MARKET, BY DISTRIBUTION CHANNEL, $M (2014-2018)
TABLE 19 SOUTH KOREA E-CIGARETTE MARKET, BY DISTRIBUTION CHANNEL, $M (2019-2024)
TABLE 20 SOUTH KOREA E-CIGARETTE MARKET, BY REGION, $M (2014-2018)
TABLE 21 SOUTH KOREA E-CIGARETTE MARKET, BY REGION, $M (2019-2024)
TABLE 22 SOUTH KOREA E-CIGARETTE AFTERMARKET, BY TYPE, $M (2014-2018)
TABLE 23 SOUTH KOREA E-CIGARETTE AFTERMARKET, BY TYPE, $M (2019-2024)
TABLE 24 SOUTH KOREA E-CIGARETTE REFILL AFTERMARKET, BY LIQUID TYPE, $M (2014-2018)
TABLE 25 SOUTH KOREA E-CIGARETTE REFILL AFTERMARKET, BY LIQUID TYPE, $M (2019-2024)
TABLE 26 SOUTH KOREA E-CIGARETTE REFILL AFTERMARKET, BY FLAVOR, $M (2014-2018)
TABLE 27 SOUTH KOREA E-CIGARETTE REFILL AFTERMARKET, BY FLAVOR, $M (2019-2024)
TABLE 28 SOUTH KOREA E-CIGARETTE AFTERMARKET, BY REGION, $M (2014-2018)
TABLE 29 SOUTH KOREA E-CIGARETTE AFTERMARKET, BY REGION, $M (2019-2024)
TABLE 30 LIST OF KEY PLAYERS
TABLE 31 BRITISH AMERICAN TOBACCO P.L.C. - AT A GLANCE
TABLE 32 BRITISH AMERICAN TOBACCO P.L.C.- KEY FINANCIAL SUMMARY
TABLE 33 ALTRIA GROUP INC. - AT A GLANCE
TABLE 34 ALTRIA GROUP INC. - KEY FINANCIAL SUMMARY
TABLE 35 JAPAN TOBACCO INC. - AT A GLANCE
TABLE 36 JAPAN TOBACCO INC. - KEY FINANCIAL SUMMARY
TABLE 37 IMPERIAL BRANDS PLC - AT A GLANCE
TABLE 38 IMPERIAL BRANDS PLC - KEY FINANCIAL SUMMARY
TABLE 39 PHILIP MORRIS INTERNATIONAL INC. - AT A GLANCE
TABLE 40 PHILIP MORRIS INTERNATIONAL INC. - KEY FINANCIAL SUMMARY
TABLE 41 JUUL LABS INC. - AT A GLANCE
TABLE 42 SHENZHEN ISMOKA ELECTRONICS CO., LTD. - AT A GLANCE
TABLE 43 SHENZHEN IVPS TECHNOLOGY CORPORATION LTD. - AT A GLANCE
TABLE 44 INNOKIN TECHNOLOGY CO. LTD. - AT A GLANCE
TABLE 45 SHENZHEN KANGER TECHNOLOGY CO., LTD. - AT A GLANCE
TABLE 46 KOREA TOBACCO & GINSENG CORPORATION - AT A GLANCE
TABLE 47 KOREA TOBACCO & GINSENG CORPORATION - KEY FINANCIAL SUMMARYList of Figures
FIG 1 RESEARCH SCOPE
FIG 2 RESEARCH METHODOLOGY
FIG 3 BREAKDOWN OF PRIMARY RESEARCH BY REGION
FIG 4 BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
FIG 5 BREAKDOWN OF PRIMARY RESEARCH BY COMPANY TYPE
FIG 6 DATA TRIANGULATION APPROACH
FIG 7 SOUTH KOREA E-CIGARETTE MARKET SUMMARY
FIG 8 VALUE CHAIN ANALYSIS OF SOUTH KOREA E-CIGARETTE MARKET
FIG 9 BARGAINING POWER OF BUYERS
FIG 10 BARGAINING POWER OF SUPPLIERS
FIG 11 INTENSITY OF RIVALRY
FIG 12 THREAT OF NEW ENTRANTS
FIG 13 THREAT OF SUBSTITUTES
FIG 14 SOUTH KOREA E-CIGARETTE MARKET SNAPSHOT
FIG 15 SOUTH KOREA E-CIGARETTE MARKET, BY PRODUCT, $M (2014-2024)
FIG 16 SOUTH KOREA CIG-A-LIKE MARKET, BY TYPE, $M (2014-2024)
FIG 17 SOUTH KOREA VAPORIZER MARKET, BY TYPE, $M (2014-2024)
FIG 18 SOUTH KOREA T-VAPOR MARKET, BY TYPE, $M (2014-2024)
FIG 19 SOUTH KOREA E-CIGARETTE MARKET, BY GENDER, $M (2014-2024)
FIG 20 SOUTH KOREA E-CIGARETTE MARKET, BY AGE GROUP, $M (2014-2024)
FIG 21 SOUTH KOREA E-CIGARETTE MARKET, BY DISTRIBUTION CHANNEL, $M (2014-2024)
FIG 22 SOUTH KOREA E-CIGARETTE MARKET, BY REGION, $M (2014-2024)
FIG 23 SOUTH KOREA E-CIGARETTE AFTERMARKET, BY TYPE, $M (2014-2024)
FIG 24 SOUTH KOREA E-CIGARETTE REFILL AFTERMARKET, BY LIQUID TYPE, $M (2014-2024)
FIG 25 SOUTH KOREA E-CIGARETTE REFILL AFTERMARKET, BY FLAVOR, $M (2014-2024)
FIG 26 SOUTH KOREA E-CIGARETTE AFTERMARKET, BY REGION, $M (2014-2024)
FIG 27 SOUTH KOREA E-CIGARETTE MARKET SHARE ANALYSIS OF KEY PLAYERS (2018)
FIG 28 RECENT ACTIVITIES OF MAJOR PLAYERS
FIG 29 BRITISH AMERICAN TOBACCO P.L.C. - REVENUE SPLIT BY GEOGRAPHY (2018)
FIG 30 ALTRIA GROUP INC. - REVENUE SPLIT BY SEGMENT (2018)
FIG 31 JAPAN TOBACCO INC. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 32 IMPERIAL BRANDS PLC - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 33 PHILIP MORRIS INTERNATIONAL INC. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 34 KOREA TOBACCO & GINSENG CORPORATION - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
Companies Mentioned
- British American Tobacco p.l.c.
- Altria Group Inc.
- Japan Tobacco Inc.
- Imperial Brands PLC
- Philip Morris International Inc.
- JUUL Labs Inc.
- Shenzhen iSmoka Electronics Co. Ltd
- Shenzhen IVPS Technology Corporation Ltd.
- Innokin Technology Co. Ltd.
- Shenzhen Kanger Technology Co. Ltd
- Korea Tobacco & Ginseng Corporation (KT&G)
Methodology
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