PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1500706
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1500706
Philippines E-cigarette and Vape Market, By Product; By Category; By Distribution Channel, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
Philippines E-cigarette and Vape Market Size Set to Grow at Steady CAGR to Reach USD 287.33 Million & 653,190 Units by 2030
Philippines E-cigarette and Vape Market is flourishing because of the emerging alternative to traditional smoking and advancements in e-cigarette technology.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Philippines E-cigarette and Vape Market size at USD 218.19 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Philippines E-cigarette and Vape Market size to expand at a CAGR of 5.03% reaching a value of USD 287.33 million by 2030. By volume, BlueWeave estimated the Philippines E-cigarette and Vape Market size at 440.2 thousand units in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Philippines E-cigarette and Vape Market size to expand at a CAGR of 5.10% reaching the volume of 653.19 thousand units by 2030. The lowered negative effects of e-cigarettes and vapes in comparison to traditional smoking and the introduction of new products with an extensive flavor selection are major growth catalysts for the Philippines E-cigarette and Vape Market. The market is further propelled by lower cost of vaping and e-cigarettes per use than regular cigarettes.
Opportunity - Rising demand for customized and reusable e-cigarette and vape
The rising glamourization and easy accessibility to e-cigarettes and vaping in the Philippines is boosting the overall market growth. Consumers, particularly young people, are demanding customized and reusable e-cigarette and vape, which is anticipated to drive the market growth over the forecast period. Customized products enable users to alter the PG/VG ratios and nicotine concentrations to achieve a better flavor and/or a bigger "throat hit." Users may also alter the battery voltage to change the e-liquid's temperature, nicotine yield, or puff volume.
Philippines E-cigarette and Vape Market
Segmental Coverage
Philippines E-cigarette And Vape Market - By Distribution Channel
Based on distribution channel, the Philippines E-cigarette and Vape Market is split into online and retail segments. The retail segment is further classified into convenience store, drug store, newsstand, tobacconist store, and specialty e-cigarette store. The retail segment dominates the Philippines E-cigarette and Vape Market. The increasing demand for e-cigarette and vapes in Philippines results in the increasing number of vape shops across the country. The offline shops, such as convenience stores and drug stores, also allow consumers to test their e-cigarette and vapes before making purchases, which also contributes to its market growth.
Competitive Landscape
Major players operating in the Philippines E-cigarette and Vape Market include Altria Group Inc., British American Tobacco plc, Geekvape, Imperial Brands plc, Japan Tobacco Inc., Juul Labs, Inc., Philip Morris International Inc., RELX International Enterprise HK Limited, Shenzhen Nevoks Technology Co., Ltd (Nevoks), and Voopoo.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Philippines E-cigarette and Vape Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Philippines E-cigarette and Vape Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. Philippines E-cigarette and Vape Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Emerging Alternative to Traditional Smoking
- 3.2.1.2. Advancements in E-cigarette Technology
- 3.2.2. Restraints
- 3.2.2.1. Negative Impact on Health
- 3.2.2.2. Stringent Government Regulations
- 3.2.3. Opportunities
- 3.2.3.1. Growing Awareness to Safer Alternatives to Traditional Smoking
- 3.2.3.2. Increasing Availability of Wide Range of Products
- 3.2.4. Challenges
- 3.2.4.1. Economic Volatility
- 3.2.4.2. Competition from Counterfeit Products
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. Philippines E-cigarette and Vape Market: Marketing Strategies
5. Philippines E-cigarette and Vape Market Overview
- 5.1. Market Size & Forecast, 2019-2030
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Product
- 5.2.1.1. Disposable
- 5.2.1.2. Rechargeable
- 5.2.1.3. Pod Mode
- 5.2.1.4. Refill Mode
- 5.2.1.5. Modular Devices
- 5.2.2. By Category
- 5.2.2.1. Open Vaping Systems
- 5.2.2.2. Closed Vaping Systems
- 5.2.3. By Distribution Channel
- 5.2.3.1. Online
- 5.2.3.2. Retail
- 5.2.3.2.1. Convenience Store
- 5.2.3.2.2. Drug Store
- 5.2.3.2.3. Newsstand
- 5.2.3.2.4. Tobacconist Store
- 5.2.3.2.5. Specialty E-cigarette Store
- 5.2.1. By Product
6. Competitive Landscape
- 6.1. List of Key Players and Their Offerings
- 6.2. Philippines E-cigarette and Vape Company Market Share Analysis, 2023
- 6.3. Competitive Benchmarking, By Operating Parameters
- 6.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
7. Impact of Escalating Geopolitical Tension on Philippines E-cigarette and Vape Market
8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 8.1. Altria Group Inc.
- 8.2. British American Tobacco plc
- 8.3. Geekvape
- 8.4. Imperial Brands plc
- 8.5. Japan Tobacco Inc.
- 8.6. Juul Labs, Inc.
- 8.7. Philip Morris International Inc.
- 8.8. RELX International Enterprise HK Limited
- 8.9. Shenzhen Nevoks Technology Co., Ltd (Nevoks)
- 8.10. Voopoo
- 8.11. Other Prominent Players
9. Key Strategic Recommendations
10. Research Methodology
- 10.1. Qualitative Research
- 10.1.1. Primary & Secondary Research
- 10.2. Quantitative Research
- 10.3. Market Breakdown & Data Triangulation
- 10.3.1. Secondary Research
- 10.3.2. Primary Research
- 10.4. Breakdown of Primary Research Respondents, By Region
- 10.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
- Figure 1 Philippines E-cigarette and Vape Segmentation
- Figure 2 Philippines E-cigarette and Vape Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 Philippines E-cigarette and Vape Market Size, By Value (USD Million), 2019-2030
- Figure 5 Philippines E-cigarette and Vape Market Share, By Product, By Value, 2019-2030
- Figure 6 Philippines E-cigarette and Vape Market Share, By Category, By Value, 2019-2030
- Figure 7 Philippines E-cigarette and Vape Market Share, By Distribution Channel, By Value, 2019-2030
List of Tables
- Table 1 Philippines E-cigarette and Vape Market Size, By Value (USD Million), 2019-2030
- Table 2 Philippines E-cigarette and Vape Market Share, By Product, By Value, 2019-2030
- Table 3 Philippines E-cigarette and Vape Market Share, By Category, By Value, 2019-2030
- Table 4 Philippines E-cigarette and Vape Market Share, By Distribution Channel, By Value, 2019-2030
- Table 5 Altria Group Inc. Company Overview
- Table 6 Altria Group Inc. Financial Overview
- Table 7 British American Tobacco plc Company Overview
- Table 8 British American Tobacco plc Financial Overview
- Table 9 Geekvape Company Overview
- Table 10 Geekvape Financial Overview
- Table 11 Imperial Brands plc Company Overview
- Table 12 Imperial Brands plc Financial Overview
- Table 13 Japan Tobacco Inc. Company Overview
- Table 14 Japan Tobacco Inc. Financial Overview
- Table 15 Juul Labs, Inc. Company Overview
- Table 16 Juul Labs, Inc. Financial Overview
- Table 17 Philip Morris International Inc. Company Overview
- Table 18 Philip Morris International Inc. Financial Overview
- Table 19 RELX International Enterprise HK Limited Company Overview
- Table 20 RELX International Enterprise HK Limited Financial Overview
- Table 21 Shenzhen Nevoks Technology Co., Ltd (Nevoks) Company Overview
- Table 22 Shenzhen Nevoks Technology Co., Ltd (Nevoks) Financial Overview
- Table 23 Voopoo Company Overview
- Table 24 Voopoo Financial Overview
- Table 24 Other Prominent Players Company Overview
- Table 25 Other Prominent Players Financial Overview
