Industry Outlook:
According to the latest report by IMARC Group, titled “E-Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global e-cigarette industry size reached a value of US$ 20.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 30 Billion by 2027, exhibiting at a CAGR of 4.5% during 2022-2027. An e-cigarette is a battery-powered non-tobacco device that resembles a cigarette, pen or cigar. It is also known as an e-vaping device, e-cigs, electronic cigarettes and vape pens comprise three main components, including an e-liquid cartridge, battery and heating coil that supply energy to the heating mechanism. It produces vapor since it is filled with a liquid that contains nicotine, flavorings, vegetable glycerin and propylene glycol. In comparison to the traditional cigarette, it is considered less toxic as it delivers dosages of vaporized flavored or nicotine solutions to consumers. Some of the most common types of e-cigarettes available across the globe include rechargeable, disposable, and personalized vaporizers.
Industry Growth:
The growing number of smokers majorly drives the global market. This can be attributed to the consumers willingness to quit smoking tobacco products due to the adverse impact of consuming tobacco, along with the increasing awareness about e-cigarettes among the masses is impacting the market growth. This, in confluence with consumers addicted to smoking and seeking a safer alternative to traditional cigarettes, is significantly supporting market growth. With the rising popularity of e-cigarettes, especially among young adults, there has been a significant rise in product demand. Furthermore, the continual advancements in e-cigarette technologies, such as the introduction of squonk mods and pod systems, are creating a positive market outlook.
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Key Players Included in Global E-Cigarette Market Report:
- Philip Morris International Inc.
- Altria Group
- British American Tobacco p.l.c.
- Japan Tobacco Inc.
- Imperial Brands PLC
- International Vapor Group
- Nicotek, LLC
- NJOY, LLC
- Reynolds American Inc
- VMR Products LLC
- MCIG Inc.
- ITC Limited
- J Well France
Industry Trends:
The rising awareness regarding the adverse effects of prolonged consumption of traditional tobacco-based products is majorly driving the global e-cigarettes market growth. Additionally, the increasing usage of e-cigarettes by the young demographic is further propelling the market growth. Continuous product innovations, such as the introduction of new flavors in e-liquids and vapors, are acting as a growth-inducing factor. Apart from this, the rising number of smokers and the continual launch of awareness campaigns by governments of various nations to curb the consumption of tobacco are creating a positive outlook for the market.
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Key Market Segmentation:
Breakup by Product:
- Modular E-Cigarette
- Rechargeable E-Cigarette
- Next-Generation E-Cigarette
- Disposable E-Cigarette
Breakup by Flavor:
- Tobacco
- Botanical
- Fruit
- Sweet
- Beverage
- Others
Breakup by Mode of Operation:
- Automatic E-Cigarette
- Manual E-Cigarette
Breakup by Distribution Channel:
- Specialist E-Cig Shops
- Online
- Supermarkets and Hypermarkets
- Tobacconist
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027 )
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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