Report Overview

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

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Philippines E-cigarette and Vape Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Emerging Alternative to Traditional Smoking
         2. Advancements in E-cigarette Technology
      2. Restraints
         1. Negative Impact on Health
         2. Stringent Government Regulations
      3. Opportunities
         1. Growing Awareness to Safer Alternatives to Traditional Smoking
         2. Increasing Availability of Wide Range of Products
      4. Challenges
         1. Economic Volatility
         2. Competition from Counterfeit Products
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Philippines E-cigarette and Vape Market: Marketing Strategies
5. Philippines E-cigarette and Vape Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
         1. Disposable
         2. Rechargeable
         3. Pod Mode
         4. Refill Mode
         5. Modular Devices
      2. By Category
         1. Open Vaping Systems
         2. Closed Vaping Systems
      3. By Distribution Channel
         1. Online
         2. Retail
            1. Convenience Store
            2. Drug Store
            3. Newsstand
            4. Tobacconist Store
            5. Specialty E-cigarette Store
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Philippines E-cigarette and Vape Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   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)
   1. Altria Group Inc.
   2. British American Tobacco plc
   3. Geekvape
   4. Imperial Brands plc
   5. Japan Tobacco Inc.
   6. Juul Labs, Inc.
   7. Philip Morris International Inc.
   8. RELX International Enterprise HK Limited
   9. Shenzhen Nevoks Technology Co., Ltd (Nevoks)
   10. Voopoo
   11. Other Prominent Players
9. Key Strategic Recommendations
10. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    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