Introduction of New Flavors Driving South Korean E-Cigarette Market The South Korean e-cigarette market is projected to attain a revenue of $3.5 billion by 2024, increasing from $874.3 million in 2018, advancing at a 24.5% CAGR during the forecast period (2019–2024), according to a report by P&S Intelligence. The market is growing due to the increasing consciousness regarding health in the country, technological advancements in product design, and rising shift from conventional cigarettes to e-cigarettes. When gender is taken into consideration, the market is divided into female and male. Between the two, the male division dominated the market in the past, as the penetration of these products is significantly low among women in the country. The religious and conservative values that are followed in South Korea prohibit women from utilizing tobacco-based products. This being said, the increasing education level and swift urbanization are leading to changes in the situation. Enterprises have now started conducting targeted marketing campaigns for increasing the adoption of e-cigarettes among women. On the basis of distribution channel, the South Korean e-cigarette market is categorized into online, vape shops, tobacconist, hypermarket/supermarket, and others. Out of this, the online category is projected to witness considerable growth during the forecast period. At the present moment, other distribution are quite popular, however, the anticipated rise of tax on e-cigarettes is predicted to cause the shift towards online channels. Moreover, with the expanding e-commerce industry and rising penetration of internet, online channels have already started becoming popular among people. Regionally, Gyeonggi has been dominating the South Korean e-cigarette market in the past, owing to large-scale urbanization and infrastructural development in Seoul. Because of this, the disposable income of people has increased considerably. The household income of people, increased by approximately YoY growth rate of 8%, reaching $16,567.2 in 2018, from $15,335.4 in 2017. In addition to this, government’s clampdown on cigarettes is predicted to drive the demand for e-cigarettes in the region during the forecast period as well. The increasing shift from tobacco cigarettes to e-cigarettes is a key driving factor of the South Korean e-cigarette market. The awareness regarding the harmful impact of smoking is rapidly rising in the country, owing to which, people are either quitting or shifting to better alternatives, such as e-cigarettes. Attributed to this, manufacturers in the industry are increasingly focusing on diversifying their product portfolio. This is expected to result in the growth of the market in the years to come. A key trend being witnessed in the South Korean e-cigarette market is the increasing varieties of flavors that are being introduced in the country. Flavors such as chocolate, menthol, bubble gum, mint, cola, and fusions of fruits are being developed by manufacturers for increasing their consumer base. As the penetration of e-cigarettes has been high in South Korea, now customers as well are demanding new products and flavors. The younger generation especially, is highly focused on experimenting with new flavors. Hence, the market is expected to grow due to the shift from traditional cigarettes to e-cigarettes and introduction of new flavors in South Korea. Read More: https://www.psmarketresearch.com/market-analysis/south-korea-e-cigarette-market

Disposable E-cigarettes Market Share 2023 Global Technology, Application, Products Analysis and Forecast to 2030 Get more info: https://www.stellarmr.com/report/req_sample/Disposable-E-cigarettes-Market/1732 Global Disposable Electronic Cigarettes Market provides a comprehensive market analysis. It provides insights into the current and future market trends, along with an overview of the major regional markets and their respective growth prospects.