Issue link: https://read.dmtmag.com/i/797484
60 tobaccoasia / Issue 1, 2017 March / April By Lee O'Donovan An Overview of the E-Cigarette Market Essentra e-cigarette packaging The vapor market is continuing to grow expo- nentially with both Europe and America leading the charge. In 2015 this segment accounted for around 45% (US$3.5 billion) of all retail sales this market in the US and approximately 42% (US$3.3bn) in Europe. Euromonitor predicts that these two geographies are set to continue to drive category revenue, forecasting that sales will in- crease to US$8.9bn in the US and to US$6.8bn in Europe by 2020. While the US and Europe are leading the way, other regions are showing strong growth in the va- por segment. Asian countries particularly are be- coming important players, with China, Malaysia, and South Korea featuring in the top 20 markets globally for retail sales value since 2015. However, given the leading role that the US and Europe are playing in the vapor market, it is no surprise that industry regulation has largely centred round these jurisdictions, with the intro- duction of FDA (US) and EUTPDII (Europe) legislation. Innovation against a backdrop of regulation The introduction of the US FDA in August 2016 forced the vapor industry to fast-track product de- velopment, innovation, and marketing initiatives, resulting in a proliferation of new products reach- ing the market ahead of the deadline. Through its partners in the US, the filter company Essentra launched a range of e-cigarette products in ad-