Philippines E-cigarette and Vape Market Growth, Size, Trends, Demand, Share and Future Outlook
Philippines E-cigarette and Vape Market Size- By Product, By Category, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Mar-2024 | Report ID: FMCG2473 | Pages: 1 - 103 | Formats*: |
| Category : Consumer & Retail | |||
Philippines E-cigarette and Vape Market Introduction and Overview
According to SPER Market Research, the Philippines E-cigarette and Vape Market is estimated to reach USD 639.35 million by 2033 with a CAGR of 18.89%.
The report includes an in-depth analysis of the Philippines E-cigarette and Vape Market, including market size and trends, product mix, distribution channels, and supplier analysis. E-cigarettes, often called electronic cigarettes, are battery-powered devices that heat a liquid that contains flavorings, nicotine, and other ingredients to create an aerosol, which is commonly called a vapor. Users inhale this mist to replicate smoking traditional cigarettes. Inhaling vapor from an e-cigarette or other similar device is known as vaping, on the other hand. Vaping is a term used to describe using different types of vaporizers, like those for cannabis or herbs. The use of vaping and e-cigarettes has increased recently, particularly among youth. Even though some people believe that vaping and e-cigarettes are less harmful than traditional smoking, the long-term health effects of these products are yet partly unknown.
- Voopoo introduced DRAG S2 and DRAG X2 with the PnP X platform in November 2023. The POD MOD devices DRAG X2 and DRAG S2 are the first to use VOOPOO's PnP X atomization technology. This technology ensures a consistent and enjoyable vaping experience by offering exceptional performance in a small package.
- Geekvape debuted VPU, a cutting-edge vaping technology solution that incorporates the most recent developments in fluid and thermal transmission, in April 2023.
Market Opportunities and Challenges
Opportunities: The Philippines' e-cigarette and vape sector has grown primarily due to the notion that vaping is a less dangerous alternative to traditional smoking, which has prompted the adoption of e-cigarettes and vaping goods among individuals seeking a non-tobacco option. The availability of a variety of flavored e-liquids, as well as the social appeal associated with vaping, are contributing to the widespread use of e-cigarettes and vaping products, in particular among the younger population, driving market expansion.
Challenges: A key challenge is a lack of comprehensive regulatory frameworks, which creates uncertainty for both customers and businesses. This ambiguity allows for inconsistent regulation and the spread of unregulated items, which may pose health hazards to users. Furthermore, the stigma associated with vaping remains, exacerbated by disinformation and misconceptions regarding its safety when compared to traditional tobacco products. Concerns about teenage use and addiction exacerbate the regulatory situation, leading calls for tighter controls and age restrictions.
Market Competitive Landscape
The E-cigarette and Vape market in Philippines is moderately fragmented. Some of the market key players are 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.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product, By Category, By Distribution channel |
| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region |
| Companies Covered | 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 |
COVID-19 Impact on Philippines E-cigarette and Vape Market
The COVID-19 pandemic has had a diverse impact on the e-cigarette and vape sector in the Philippines. On the one hand, the economic crisis caused by lockdowns and restrictions has influenced consumer spending habits, potentially reducing demand for non-essential products such as vaping devices and e-liquids. Disruptions in supply chains and logistical issues have also impacted vaping product distribution, influencing market dynamics.
Key Target Audience
- Adult Smokers Seeking Alternatives
- Young Adults and Millennials
- Health-conscious Consumers
- Individuals Interested in Smoking Cessation
- Social Influencers and Trendsetters
- Convenience Store and Retail Chains
- Online Retail Platforms
Our in-depth analysis of the Middle Philippines E-cigarette and Vape Market includes the following segments:
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Key Topics Covered in the Report
- Philippines E-cigarette and Vape Market Size (FY’2024-FY’2033)
- Overview of Philippines E-cigarette and Vape Market
- Segmentation of Philippines E-cigarette and Vape Market By Product (Disposable, Rechargeable, Modular Devices)
- Segmentation of Philippines E-cigarette and Vape Market By Category (Open Vaping Systems, Closed Vaping Systems)
- Segmentation of Philippines E-cigarette and Vape Market By Distribution Channel (Online, Retail)
- Expansion Analysis of Philippines E-cigarette and Vape Market
- Problems and Obstacles in Philippines E-cigarette and Vape Market
- Competitive Landscape in the Philippines E-cigarette and Vape Market
- Impact of COVID-19 and Demonetization on Philippines E-cigarette and Vape Market
- Details on Current Investment in Philippines E-cigarette and Vape Market
- Competitive Analysis of Philippines E-cigarette and Vape Market
- Prominent Players in the Philippines E-cigarette and Vape Market
- SWOT Analysis of Philippines E-cigarette and Vape Market
- Philippines E-cigarette and Vape Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Philippines E-cigarette and Vape Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Philippines E-cigarette and Vape Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Philippines E-cigarette and Vape Market
7. Philippines E-cigarette and Vape Market, By Product (USD Million)
7.1. Philippines E-cigarette and Vape Market Value Share and Forecast, By Product, 2024-20337.2. Disposable7.3. Rechargeable7.3.1. Pod Mode7.3.2. Refill Mo
7.4. Modular Devices
8. Philippines E-cigarette and Vape Market, By Category (USD Million)
8.1. Philippines E-cigarette and Vape Market Value Share and Forecast, By Category, 2024-20338.2. Open Vaping Systems8.3. Closed Vaping Systems
9. Philippines E-cigarette and Vape Market, By Distribution Channel (USD Million)
9.1. Philippines E-cigarette and Vape Market Value Share and Forecast, By Distribution Channel, 2024-20339.2. Online9.3. Retail9.3.1. Convenience Store9.3.2. Drug Store9.3.3. Newsstand9.3.4. Tobacconist Store9.3.5. Specialty E-cigarette Store
10. Philippines E-cigarette and Vape Market Forecast, 2020-2033 (USD Million)
10.1. Philippines E-cigarette and Vape Market Size and Market Share
11. Philippines E-cigarette and Vape Market, By Product, 2020-2033 (USD Million)
11.1. Philippines E-cigarette and Vape Market Size and Market Share By Product (2020-2026)11.2. Philippines E-cigarette and Vape Market Size and Market Share By Product (2027-2033)
12. Philippines E-cigarette and Vape Market, By Category, 2020-2033 (USD Million)
12.1. Philippines E-cigarette and Vape Market Size and Market Share By Category (2020-2026)12.2. Philippines E-cigarette and Vape Market Size and Market Share By Category (2027-2033)
13. Philippines E-cigarette and Vape Market, By Distribution Channel, 2020-2033 (USD Million)
13.1. Philippines E-cigarette and Vape Market Size and Market Share By Distribution Channel (2020-2026)13.2. Philippines E-cigarette and Vape Market Size and Market Share By Distribution Channel (2027-2033)
14. Philippines E-cigarette and Vape Market, By Region, 2020-2033 (USD Million)
14.1. Philippines E-cigarette and Vape Market Size and Market Share By Region (2020-2026)14.2. Philippines E-cigarette and Vape Market Size and Market Share By Region (2027-2033)14.3. Eastern Region14.4. Northern Region
14.5. Western Region14.6. Southern Region
15. Company Profile
15.1. Altria Group Inc.15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. British American Tobacco plc15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. Geekvape15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. Imperial Brands plc15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Japan Tobacco Inc.15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. Juul Labs, Inc.15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. Philip Morris International Inc.15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. RELX International Enterprise HK Limited15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. Shenzhen Nevoks Technology Co., Ltd (Nevoks)15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments15.10. Voopoo15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Philippines E-cigarette and Vape Market is projected to reach USD 639.35 million by 2033, growing at a CAGR of 18.89% during the forecast period.
Philippines E-cigarette and Vape Market size from 2022. The Market is expected to reach USD 639.35 million by 2033, at a CAGR of 18.89% during the forecast period.
Philippines E-cigarette and Vape Market CAGR of 18.89% during the forecast period.
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Philippines E-cigarette and Vape Market size is 639.35 million from 2024 to 2033.
Philippines E-cigarette and Vape Market Segment is covered By Product, By Category, By Distribution channel.
The Asia-Pacific is anticipated to have the highest market share in the Philippines E-cigarette and Vape Market.
The key players in the market include Companies Covered 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.
Even though some people believe that vaping and e-cigarettes are less harmful than traditional smoking, the long-term health effects of these products are yet partly unknown.
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