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

By Product

• Disposable

• Rechargeable

• Pod Mode

• Refill Mode

• Modular Devices

By Category

• Open Vaping Systems

• Closed Vaping Systems

By Distribution Channel

• Online

• Retail

1. Convenience Store

2. Drug Store

3. Newsstand

4. Tobacconist Store

5. Specialty E-cigarette Store