So who really runs and dominates the e-cig market? Who are its biggest names and who really controls what consumers have access to? Continue reading to learn more.
In 2013, the e-cig market’s revenue was roughly $2.5 billion, compared to the $80 billion in revenue that the regular cigarette industry enjoyed.
However, it’s predicted that the e-cig market will continue seeing growth, with revenue expected to be around $10 billion in 2017. The cigarette market, though, is also predicted to hold strong, despite seeing some losses and falling to $72.5 billion in 2017.
But it has also been predicted by both Bloomberg and Wells Fargo that the e-cig market will dominate and overtake the cigarette market by 2024.
The Top E-Cig Firms of 2013
As of 2013, the top five e-cig firms were Blu, Njoy, V2, International Vapor Group, and Vaporcorp.
Blu earned $230 million, while Njoy showed $170 million in revenue. V2 made $80 million, International Vapor Group made $63 million, and Vaporcorp made $26 million that year.
The Biggest Names in the Cigarette Market
To understand what the e-cig market is really up against, you have to have a clearer insight into the current tobacco cigarette market. Below is a guide to the top contenders.
China National Tobacco Corporation
The China National Tobacco Corporation has a yearly revenue of $91.7 billion, and a yearly profit of $16 billion. It owns over 900 tobacco cigarette brands that are found all over China, but it hasn’t yet entered into the e-cig market at all.
Philip Morris International
Probably the most well known brand in the tobacco cigarette market is Philip Morris International, with $67.7 billion in annual revenue and $7.5 billion in annual profits. Its famous brands include L&M, Marlboro, Parliament, and Bond Street. It also owns IQOS in the e-cig market, and its e-cig acquisitions include Nicolite and Nicocig in the UK.
British American Tobacco
British American Tobacco has a yearly revenue of $58.1 billion. It earns $4.2 billion in profits each year. It’s known for its brands that include Pall Mall, Dunhill, and Lucky Strike, but it has already established itself in the e-cig market, too, as the owner of Vype in the UK.
Japan Tobacco International
Yet another successful tobacco cigarette company is Japan Tobacco International, with yearly revenue coming in at $65.9 billion. Yearly profits are around $1.5 billion. It owns famous brands that include Camel, Winston, and Benson & Hedges. But this company also owns Plume in the US e-cig market, and it also acquired the UK e-cig company called eLites.
Imperial Tobacco Purchased Bluff Lorillard
Imperial Tobacco Purchased Bluff Lorillard makes $38.4 billion in revenue each year, and it brings in $2 billion in annual profits. Its popular brands include Gauloises, Davidoff, and West. It, too, has chosen to enter the e-cig market. It owns Puritane in the UK and also acquired Blu and Skycigs in the UK as well.
Altria Group Inc./Philip Morris USA
Altria Group Inc./Philip Morris USA brings in $24.4 billion in annual revenue and $3.9 billion in profits every year. Its very popular brands include Benson & Hedges, Virginia Slims, and Marlboro. It also owns MarkTen in the US e-cig market, and it went ahead and acquired Greensmoke in the US as well.
Reynolds American Inc.
Reynolds American Inc. comes in last, but it still boasts extremely high revenue, with $8.2 billion annually. Its profits average at about $2 billion per year. Its brands include Pall Mall and Camel, and it entered the e-cig market with its brand called Vuse in the US.
The Biggest Names in the E-Cigarette Market
Now let’s take a look at some of the strongest brands in the e-cig market, which are projected to continue to grow.
Electronic Cigarette International Group
Electronic Cigarette International Group brought in $15 million in revenue in 2013. It owns Greenstix, FIN, VIP, Vapestick, and Victory. It’s also listed as ECIG on the OTCMKTS stock market.
International Vaporgroup is also on the OTCMKTS stock market, but it’s listed as VPOR. It made $63 million in revenue in 2013, and its brands include South Beach, NutriCig, Eversmoke, and Vaporfi.
Vaporcorp made $26 million in annual revenue back in 2013. Its brands include Smoke 51, VaporX, Alternacig, and Krave. It’s also on the NASDAQ stock market, and it’s listed as VPCO.
Because Njoy is privately owned, it isn’t found on any stock market. Its only brand is Njoy as well, and in 2013, the company brought in roughly $170 million in revenue, making it the most successful and most lucrative e-cig company currently on the market.
V2 is yet another privately owned e-cig company, so you won’t find this one on any stock market either. Its brands include Vapor Couture, V2, and V2 Pro. Its earnings in 2013 were roughly $80 million in revenue.