The India e-cigarette market reached a value of $7.8 million in 2018, and it is further predicted to witness a CAGR of 26.4% during the forecast period (2019–2024). The factors positively impacting the growth of the market are the rising awareness regarding health and increasing demand for ashless vaping devices.
Instead of burning tobacco, e-cigarettes heat liquid nicotine or flavors to produce mist, in order to provide sensations similar to smoking, on puffing. E-cigarettes were developed as alternatives to traditional tobacco cigarettes.
On the basis of distribution channel, the Indian e-cigarette market is categorized into online, hypermarket/supermarket, tobacconist, vape shops, and others (which include pharmacies and vending machines).
Among these, the category of tobacconists dominated the market during the historical period (2014–2018); however, online distribution channels are expected to take over the market, in terms of value, during the forecast period by witnessing the highest CAGR. This is because the said channel provides several discounts and promotional offers to attract a huge consumer base.
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In terms of type, the Indian e-cigarette aftermarket is divided into battery & charger, refill, and others. The division of others includes cleaning kits, portable chargers, atomizers, coils, and tanks.
Out of these, the division of refills accounted for the major share of the aftermarket during the historical period and is expected to retain its position during the forecast period, during which it is also predicted to grow at the fastest pace. This is due to the shift toward e-cigarettes from conventional tobacco cigarettes in the country.