Philippines E Cigarette And Vape Market
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Philippines E-cigarette and Vape Market, By Product (Disposable, Rechargeable, Pod Mode, Refill Mode, Modular Devices); By Category (Open Vaping Systems, Closed Vaping Systems); By Distribution Channel (Online, Retail), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: June 2024
- Report ID: BWC24413
- Available Format: PDF
- Page: 200
Report Overview
The emerging alternative to traditional smoking and advancements in e-cigarette technology are expected to boost the growth of Philippines E-cigarette and Vape Market during the forecast period between 2024 and 2030.
Philippines E-cigarette and Vape Market - Industry Trends & Forecast Report, 2030
The Philippines E-cigarette and Vape Market size was estimated to be worth USD 218.19 million in 2023. During the forecast period between 2024 and 2030, the Philippines E-cigarette and Vape Market size is projected to grow at a CAGR of 5.03%, reaching a value of USD 287.33 million by 2030.
By volume, the Philippines E-cigarette and Vape Market size was estimated at 440.2 thousand units in 2023. During the forecast period between 2024 and 2030, the Philippines E-cigarette and Vape Market size is expected to expand at a CAGR of 5.10%, reaching a volume of 653.19 thousand units by 2030.
Major growth factors for the Philippines E-cigarette and Vape Market include its dissipated side effects compared to conventional smoking and the launch of new products with a wide range of flavors. Furthermore, e-cigarettes and vaping have lower per-use costs than traditional cigarettes, which further drives the Philippines e-cigarette and vape market.
E-cigarette and Vape – Overview
E-cigarettes heat a liquid, which often includes nicotine, flavorings, and other additives, using a battery to produce an aerosol. Given its advantages over traditional cigarettes—including zero smoke, zero pollution, fewer health issues, and the ability to smoke in public places—e-cigarette has gained recognition as a viable substitute. Vaping is inhaling an aerosol through an e-cigarette or vape pen that includes flavoring and nicotine, among other compounds. Research indicates that vaping has far fewer negative effects than smoking. Compared to smoking cigarettes, vaping exposes consumers to significantly fewer and lower amounts of pollutants.
Philippines E-cigarette and Vape Market
Growth Drivers
Advancements in E-cigarette and Vape Technology
With the rising demand for e-cigarettes and vape in the Philippines, technological advancements are also following to cater the demand of consumers. The industry players are launching new products, such as Bluetooth-enabled vape devices or power to control nicotine to meet the rapidly changing consumer needs. Bluetooth-enabled vape devices, for instance, allow its users to lock as well as track their device through mobile apps in case it gets lost. The companies are also integrating advanced technology, such as digital twin interfaces which are used to regulate the electricity output limit. Such advancements are anticipated to offer lucrative growth opportunities to the Philippines e-cigarette and vape market.
Challenges
Negative Health Impact of E-cigarette and Vape
Although e-cigarettes and vapes are comparatively less harmful than traditional smoking, it still poses some serious health complications. According to the American Lung Association, e-cigarettes produce several dangerous chemicals, such as formaldehyde, acrolein, and acetaldehyde, which have detrimental impact on the lung’s health. Additionally, acrolein, a pesticide mostly used to destroy plants, is present in e-cigarettes. It may result in asthma, lung cancer, COPD, and acute lung damage. As a result, the Philippines government is considering imposing strict regulations on e-cigarettes and vapes, which may limit its market growth.
Philippines E-cigarette and Vape Market
Segmental Coverage
Philippines E-cigarette and Vape Market – By Product
Based on product, the Philippines E-cigarette and Vape Market is segmented into disposable, rechargeable, pod mode, refill mode, and modular devices. The disposable segment holds the largest share of the Philippines E-cigarette and Vape Market. Disposable e-cigarettes and vaping are gaining significant popularity as an alternative to traditional smoking as they are comparatively less harmful. Furthermore, disposable products also prove to be convenient to their users as it eliminates the need for recharge and refills.
Philippines E-cigarette and Vape Market – By Category
Based on category, the Philippines E-cigarette and Vape Market is segmented into open vaping systems and closed vaping systems. The closed vaping system account accounts for the highest market share owing to the convenience it offers. This system is non-refillable and therefore offers convenience to its consumers, particularly young and new users. Its disposable nature makes it more user-friendly and accessible to users compared to its counterpart. However, open vaping systems are anticipated to register a high growth rate during the forecast period owing to the rising popularity of customization in e-cigarettes and vaping.
Philippines E-cigarette and Vape Market – By Distribution Channel
Based on the distribution channel, the Philippines E-cigarette and Vape Market is segmented into online and retail. The retail segment is further classified into convenience stores, drug stores, newsstands, tobacco stores, and specialty e-cigarette stores. The retail segment dominates the Philippines E-cigarette and Vape Market. The increasing demand for e-cigarettes and vapes in the Philippines results in an increasing number of vape shops across the country. Offline shops such as convenience stores and drug stores also allow consumers to test their e-cigarettes 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.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2023 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
By Value - USD Million |
By Volume - Thousand Units |
|
Product/ Service Segmentation |
Product, Category, Distribution Channel |
Key Players |
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), Voopoo |
By Product
-
Disposable
-
Rechargeable
-
Pod Mode
-
Refill Mode
-
Modular Devices
By Category
-
Open Vaping Systems
-
Closed Vaping Systems
By Distribution Channel
-
Online
-
Retail
-
Convenience Store
-
Drug Store
-
Newsstand
-
Tobacconist Store
-
Specialty E-cigarette Store
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Philippines E-cigarette and Vape Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Emerging Alternative to Traditional Smoking
- Advancements in E-cigarette Technology
- Restraints
- Negative Impact on Health
- Stringent Government Regulations
- Opportunities
- Growing Awareness to Safer Alternatives to Traditional Smoking
- Increasing Availability of Wide Range of Products
- Challenges
- Economic Volatility
- Competition from Counterfeit Products
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Philippines E-cigarette and Vape Market: Marketing Strategies
- Philippines E-cigarette and Vape Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- Market Share & Forecast
- By Product
- Disposable
- Rechargeable
- Pod Mode
- Refill Mode
- Modular Devices
- By Category
- Open Vaping Systems
- Closed Vaping Systems
- By Distribution Channel
- Online
- Retail
- Convenience Store
- Drug Store
- Newsstand
- Tobacconist Store
- Specialty E-cigarette Store
- By Product
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- Philippines E-cigarette and Vape Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tension on Philippines E-cigarette and Vape Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 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)
- Voopoo
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumptions & Limitations
- Qualitative Research
*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
Market Segmentation
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