The Global E-cigarette Market size was valued at USD 19.79 Billion in 2022 and is expected to surpass USD 77.63 Billion by 2031, expanding at a CAGR of 16.4% during the forecast period, 2023 – 2031. The growth of the market is attributed to social acceptance and easy availability of e-cigarettes.
E-cigarettes utilize an e-fluid that contains nicotine, flavors, propylene glycol, and vegetable glycerin. Contrasted with cigarette smoke, the user inhales in vapor rather than smoke. Propylene glycol, glycerin, nicotine, flavor, and, e-cigarette vapor contain less toxins in more modest fixations. E-cigarette vapor contains unsafe mixtures that are not found in tobacco smoke. Individual e-cigarettes contain varying measure of nicotine. E-cigarettes are normally known as vaporizer cigarettes, electronic nicotine delivery systems (ENDS), e-cigs, vapes, e-hookahs, and vape pens.
The COVID-19 pandemic has hampered the advancement of the market. The declaration of lockdowns seriously disrupted trade and supply chains, which, negatively impacted the development of e-cigarettes. This, in turn, diminished the accessibility of these gadgets, with the lower demand for them due to weak financial wellbeing.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing promotional activities by vendors is expected to boost the e-cigarette market.
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Technological advancements and product innovation is spurring the development of the market.
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Growing health awareness about safe alternatives is one of the key factors fueling the market growth.
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Rising demand for flavored e-cigarettes can boost the growth of the market.
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Negative impact on health owing to high addiction of nicotine can restrain the growth of the market.
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Stringent government regulations regarding implement indoor smoking ban, awareness campaigns about health risks can lucrative opportunities for the market players.
Scope of E-cigarette Market Report
The report on the e-cigarette market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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E-cigarette Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Completely Disposable Model, Rechargeable but Disposable Cartomizer, and Personalized Vaporizer), Battery Modes (Automatic E-cigarette and Manual E-cigarette), and Distribution Channels (Offline Retail and Online Retail)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Japan Tobacco Inc.; Philip Morris Products S.A; Altria Group; Shenzhen Joye Technology Co Ltd; and Imperial Brands PLC.
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E-cigarette Market Segment Insights
Rechargeable but disposable cartomizer segment is expected to grow at a rapid pace
Based on product types, the market is divided into completely disposable model, rechargeable but disposable cartomizer, and personalized vaporizer. The rechargeable but disposable cartomizer segment is estimated to grow at a rapid rate as it’s attached to a battery and is reusable device with a battery and cartridge. Moreover, the cost-effectiveness is estimated to drive the segment growth.
Automatic e-cigarette segment is anticipated to constitute a key market share
Base on battery modes, the e-cigarette market is categorized as automatic e-cigarette and manual e-cigarette. The automatic e-cigarette segment is expected to grow at a sustainable rate in the manner. The automatic e-cigarette has low-energy consumption and allow users to vape for a longer period between charging.
Online retails segment is projected to expand at a considerable CAGR
On the basis of distribution channels, the market is classified offline retails and online retails. The online retails segment is projected to expand at a considerable CAGR during the forecast period. Online retails attributes to ease of shopping from a remote location. An online retails flexibility and convenience in selecting desired solutions from a wide range of alternatives. Online retailing encourages smokers to purchase these solutions from e-commerce websites.
Middle East & Africa is anticipated to constitute a large market share
In terms of regions, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Middle East & Africa is anticipated to expand at a rapid pace during the forecast period owing to increasing number of vape shops and new products launched by manufacturers to streamline and enrich the experience of e-cigarette smokers. On the other hand, Europe is expected to hold a significant market share in the coming years.
Segments
The global e-cigarette market has been segmented on the basis of
Product Types
- Completely Disposable Model
- Rechargeable but Disposable Customizer
- Personalized Vaporizer
Battery Modes
- Automatic E-cigarette
- Manual E-cigarette
Distribution Channels
- Offline Retail
- Online Retail
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Japan Tobacco Inc.
- Philip Morris Products S.A
- Altria Group
- Shenzhen Joye Technology Co Ltd
- Imperial Brands PLC.
Competitive Landscape
Key players competing in the e-cigarette market are Japan Tobacco Inc.; Philip Morris Products S.A; Altria Group; Shenzhen Joye Technology Co Ltd; and Imperial Brands PLC.
In March 2019, two new tobacco container flavors, Pianissimo Aria Menthol and Pianissimo Pineapple Peach Yellow Cooler, were sent off by Japan Tobacco Inc. for the Ploom TECH brand. Presently, the organization offers 10 novel flavors for its Ploom TECH brand.
In January 2019, two new fume items - Ploom S, which is a high-temperature tobacco fume item, and Ploom TECH +, which is a low-temperature tobacco vapor item - were sent off by Japan Tobacco Inc. under the Ploom brand. These items produce less scent than ordinary cigarettes.
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