Pod vapes market moves ahead to observe enormous business opportunities across the regions of the globe on the backdrop of increasing penetration of consumers who wants to quit smoking and shift towards vaping products and e-cigarettes. The market for pod vapes is expected to witness strong year-on-year growth rate over the forecast period from 2019-2027 owing to rising demand for open and close vaping products. Moreover, increasing number of health awareness programs from various government and non-government organizations in several developed as well as emerging economies are positively influencing the overall sales of the pod vapes in near future.
With an increasing demand for refilled pod vapes along increasing number of smoking quitters across the globe have created a positive market footprint for the growth of pod vapes market. Many key players engaged in the manufacturing of pod vapes are introducing lightweight and compact pod vapes along with longer battery life. However, percentage demand share of open pod vapes is expected to increase in upcoming years due to its refillable offering flexibility to refill the device with a choice of flavor.
Fact.MR newly published insightful report examines the Pod vapes market, the deep dive research analysis foretells the pod vapes market to establish an 18.8% CAGR in terms of volume during the estimated period from 2019 – 2027. Open pod systems segment to witness the highest growth rate among the pod vapes product types over the forecast period.
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Pod Vapes Market – Open Pod System Owns the Product Type Segment
Open pod systems segment is expected to dominate the overall sales of pod vapes with market share of more than 60% by 2027 end in terms of value sales. Open pod systems segment is anticipated to create lucrative market opportunities for the manufacturers of pod vapes across the globe. Open pod systems segment holds an upper hand over the closed pod systems in pod vapes market due to increasing demand for refilled vaping systems among the consumers with different flavors.
The pod vapes product are used extensively in a key geographies include U.S., U.K., and China. The overall sales of open pod systems in product type segment is estimated to reach 323 Mn units by 2019 with year on year growth of 18.6% in 2019. Increasing concern regarding the effect of vaping on health may impact the overall sales of pod vapes across the globe.
The global market for pod vapes is expected to grow 4x times by 2027 end as compared to 2019 due to rise in the number of consumer spending on e-cigarettes. Pod vapes are emerging as effective alternatives in nicotine industry, and it is anticipated to create business scenario for the manufacturers of the pod vapes. The strong growth in pod vapes market is strengthened by the recent developments such as continuous product innovations, increasing investments in R&D, and expansion in geographic reach, and continuous consolidation by key market players to serve the persistent consumer demand for the forecast years. Pod vapes market is primarily driven by the highly growing emerging and legacy regions such as APEJ, Europe and North America. Various product developments in the pod vapes concerning low nicotine concentration has created a lot of market opportunities.
Pod Vapes Market – Growing Demand for Ultra-portable Vaping Systems to Increase Overall Sales
Key developments indulging in pod vapes industry is influencing the global market positively. The rise in demand for ultra-portable vaping systems among consumers in developed as well as developing countries across the globe is likely to boost the market for pod vapes over the forecast period. With the rise in the use of vaping devices, manufacturers are offering ultra-portable vape devices with lower nicotine levels in order to help smokers quit smoking and reducing the dependency on nicotine which is expected to create opportunities in the pod vapes market.
Pod Vapes Market – Market relies on Advancements in Pod Vaping Technology
The rise in demand for the pod vapes has been observed in the historical period at a strong growth rate. Potential manufacturers in the pod vapes market are focusing on introducing new smaller pod vapes devices that are compact and sleek. These new devices are being designed to be healthier and easy to use than mod devices. Introduction of new pod vape devices with low nicotine concentration level has bolstered the demand in recent years. Due to implementation of strict government regulations on vaping and e-cigarettes, the overall sales of pod vapes in some countries is expected to be influenced during the forecast period. The factors impacting pod vapes market such as economical prices of pod vapes, availability of different types of flavors in pod vapes which is likely to create a worthwhile opportunity for pod vapes market in future.