Pod Vapes Market – Introduction
- A pod vape is a kind of electronic cigarette that works with vape pods. It is also known as pod mods. It is a new and innovative vaping product used by smokers. The pod vape comprises a battery which is attached to a vape pod carrying e-liquid, and together the two form a pod system. They are simple to maintain and easy to use; thus, their demand is high in the market.
Key Drivers of the Pod Vapes Market
- A pod vape is suitable for smokers because it delivers a cigarette-like experience. They do not create smoke and are less harmful than conventional cigarettes. Also, they are extremely easy to use because of the simple design. These factors increases the demand for pod vapes in the market.
- Growing awareness about harmful effects of smoking and changing lifestyle of people is further helping in the growth of the pod vapes market. In addition, unlike many other vapes, the pod vape works with nicotine salt e-liquids which helps in better absorption. Also, governments of different developed countries are promoting the use of pod vapes for smokers to reduce the harmful effects of conventional cigarettes on smokers as well as on the surrounding environment.
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Factors Restraining the Pod Vapes Market
- A major restraint of pod vapes is that its battery time is low. Further, the presence of nicotine in pod vapes restrains their adoption across the globe, which ultimately hampers the growth of the pod vapes market.
Asia Pacific to Hold Leading Share of the Global Pod Vapes Market
- In terms of region, the global pod vapes market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the pod vapes market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The pod vapes market in South America is segmented into Brazil and Rest of South America.
- Asia Pacific dominated the global pod vapes market in 2020, due to the presence of large number of smokers in the region. Changing lifestyle and increasing disposable income has been driving the pod vapes market in Asia Pacific, particularly in China, Japan, and India.
- The pod vapes market in Asia Pacific is projected to expand at a rapid pace, followed by North America and Europe during the forecast period.
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Key Players Operating in the Pod Vapes Market
The global pod vapes market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market. A few key players operating in the global pod vapes market are:
- British American Tobacco
- JUUL Labs, Inc.
- Imperial Brands PLC
- Shenzhen Eleaf Electronics Co., Ltd.
- Philip Morris Products S.A.
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