February 28, 2024

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Demand for Global E-Cigarette Market Size to Hit $42906.36

SAN FRANCISCO, U.S., July 26, 2022 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “E-Cigarette Market By Product Type (Disposable, Rechargeable, Modular), By Flavor (Tobacco, Botanical, Fruit, Sweet, Beverage, Others), By Distribution Channel (Specialist E-cig Shops, Online, Supermarkets, Tobacconist, Others), and By Region – Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global E-Cigarette Market size & share in terms of revenue was worth of USD 17,429.5 million in 2021 and it is expected to surpass around USD 42,906.36 million mark, by 2028, growing at a compound annual growth rate (CAGR) of about 16.20% during the forecast period 2022 to 2028.”

What is E-Cigarette? How big is the E-Cigarette Industry?

Report Overview:

A battery, an atomizer, and an inhaler make up an electronic cigarette, which simulates tobacco smoking without the use of tobacco. The device contains a liquid solution containing or without nicotine that is heated and transformed into vapors before being breathed, making it less dangerous than regular cigarettes. This device has been seen as a feasible alternative to regular cigarettes since it provides benefits such as zero smoke, less pollution, fewer health-related problems, and the ability to be smoked in public areas.

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Report Scope

Report Attribute Details
Market Size in 2021 USD 17,429.5 Million
Projected Market Size in 2028 USD 42,906.36 Million
CAGR Growth Rate 16.20% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players Altria Group, British American Tobacco, Imperial Brands, International Vapor Group, Japan Tobacco, NicotekLlc, Njoy Inc., Philip Morris International Inc., Reynolds American Inc., VMR Flavors LLC, and Others
Key Segment By Product Type, Flavor, Distribution Channel, and Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Purchase Options Request customized purchase options to meet your research needs.

Global E-Cigarette Market: Dynamics

The increased market is due to increased knowledge of the negative effects of traditional cigarettes, electronic cigarettes’ lower tar and carbon monoxide absorption, greater affluence, and technological improvements by electronic cigarette makers. As a result of numerous research conducted by medical institutions and associations, there is a growing understanding that e-cigarettes are safer than traditional cigarettes, especially among the younger population, which is anticipated to drive market expansion even further. Consumption and import regulations are being applied by the government. Risks associated with vaping, as well as reported instances. A high level of nicotine addiction is harmful to one’s health.

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E-Cigarette Market: COVID-19 Impact Analysis

The COVID-19 epidemic impacted electronic cigarette sales at brick and mortar retailers, causing consumers to shift to internet sales channels to purchase consumer electronic devices, resulting in an increase in online sales of e-cigarette products. The consumer goods industry is predicted to rise, which is expected to enhance sales of e-cig products throughout the forecast period, as lockdown limitations are eased and logistics are improved in light of COVID-19 preventive measures. COVID-19 is more likely to impact smokers than non-smokers, according to the World Health Organization. Furthermore, the COVID-19 pandemic in the United States had far-reaching effects on e-cigarette use. According to a survey published by Gaiha University, roughly 56.4 percent of the young American population has changed their e-cigarette use since the COVID-19 pandemic began.

Furthermore, one-third of young people stopped vaping, while another third cut back on their usage of e-cigarettes, with the remainder increasing their use or switching to other nicotine or cannabis products. As a result, higher nicotine dependence, e-cigarette use frequency, poor online age verification, and several other characteristics were linked to long-term use of e-cigarette products, according to the study.

E-Cigarette Market: Segmentation Analysis

The global electronic cigarette market is divided into four categories: type, flavour, distribution channel, and geography. The rechargeable segment, with a market share of more than 40% in 2021, had the greatest market share. Because they are less expensive and eliminate the need to replenish consumables such as cartridges, rechargeable gadgets are likely to become increasingly popular. Customers who produce their own e-liquid do not need to purchase cartridges that have already been filled.

In a number of key nations, rechargeable e-cigarettes, which release less smoke and can be charged through a USB connection, are also gaining popularity among teens. With over 84 percent market share in 2021, the retail store segment was the most popular. E-cigarettes were previously available in places such as vape shops and gas stations. Customers could choose from a wide range of devices and e-liquids at these locations. Furthermore, vape shops that allow customers to try out and test these devices before making a purchase decision are projected to drive retail store growth over the forecast period.

Browse the full “E-Cigarette Market By Product Type (Disposable, Rechargeable, Modular), By Flavor (Tobacco, Botanical, Fruit, Sweet, Beverage, Others), By Distribution Channel (Specialist E-cig Shops, Online, Supermarkets, Tobacconist, Others), and By Region – Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/e-cigarette-market

Competitive Landscape

Some of the main competitors dominating the global E-Cigarette market include – 

  • Altria Group
  • British American Tobacco
  • Imperial Brands
  • International Vapor Group
  • Japan Tobacco
  • NicotekLlc
  • Njoy Inc.
  • Philip Morris International Inc.
  • Reynolds American Inc.
  • VMR Flavors LLC

Key Insights from Primary Research:

  • As per the analysis shared by our research analyst, the E-Cigarette market is estimated to grow annually at a CAGR of around 16.20% over the forecast period (2022-2028).
  • In Terms Of Revenue, The E-Cigarette market size was valued at around USD 17,429.5 million in 2021 and is projected to reach USD 42,906.36 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • In 2021, the rechargeable segment had the highest market share at more than 40%. Rechargeable gadgets are likely to become more popular as they are less expensive and eliminate the need to repurchase consumables like cartridges.
  • In 2021, the retail store segment had the biggest market share, with over 84%.
  • On the basis of region, the “North America” region was the leading revenue generator.

Key questions answered in this report:

  • What is the market size and growth rate forecast for E-Cigarette industry?
  • What are the main driving factors propelling the E-Cigarette Market forward?
  • What are the leading companies in the E-Cigarette Industry?
  • What segments does the E-Cigarette Market cover?
  • How can I receive a free copy of the E-Cigarette Market sample report and company profiles?

Have Any Query? Ask Our Experts: https://www.fnfresearch.com/inquiry/e-cigarette-market

Key Offerings:

  • Market Size & Forecast by Revenue | 2022−2028
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis By Product Type, Flavor, Distribution Channel, and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Regional Dominance:

North America has the largest share of the e-cigarette market. The use of these things by youth has resulted in an upsurge in demand. In the United States, for example, e-cigarettes are primarily used by teenagers. 3.6 million US middle and high school student used e-cigarettes over a 30-day research period in 2020, according to the Centers for Disease Control and Prevention (CDC), with 4.7 percent of middle school students and 19.6% of high school students using them.

E-cigarettes account for the vast majority of tobacco products; there are currently over 3,000 different e-cigarette flavours available in the United States, with new flavours being released every year. Nicotine-free e-liquids provide a more pleasant vaping experience than other varieties. Furthermore, professional vapers who perform at several events and engage in chain vaping for practice believe that nicotine-free vaping is the best alternative to traditional vaping in the regional market. The association of vaping/e-cigarettes with fashion appeal enhances e-cigarette demand in the North American market.

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The global E-Cigarette market is segmented as follows:

By Product Type

  • Disposable
  • Rechargeable
  • Modular

By Flavor

  • Tobacco
  • Botanical
  • Fruit
  • Sweet
  • Beverage
  • Others

By Distribution Channel

  • Specialist E-cig Shops
  • Online
  • Supermarkets
  • Tobacconist
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Spectacular Deals

  • Comprehensive coverage
  • Maximum number of market tables and figures
  • Subscription-based option offered
  • Best price guarantee

To know an additional revised 2022 list of market players, request a sample report: https://www.fnfresearch.com/sample/e-cigarette-market

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