Global E-Cigarette Market Size, Share, Demand & Trends Analysis Report by 2028 | Exclusive Report by Facts Factors
According to Facts & Factors, the global e-cigarette market size in terms of revenue was worth around USD 17429.5 million in 2021 and is expected to reach USD 42906.36 million by 2028 growing at a CAGR of 16.20% from 2022 to 2028. The global e-cigarette market is projected to grow at a significant growth rate due to a number of driving factors.
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Market Synopsis:
An electronic cigarette, which mimics the experience of smoking tobacco but does not actually contain any tobacco, consists of a battery, an atomizer, and an inhaler. Because the liquid solution, which may or may not contain nicotine, is heated and converted into vapors in the device before being inhaled, electronic cigarettes pose a lower risk to users’ health compared to traditional cigarettes. This device has been considered a workable replacement for traditional cigarettes due to the fact that it produces no smoke, significantly less pollution, significantly fewer health-related problems, and allows users to smoke in public places without having to leave the building.
The growth of the market can be attributed to a greater awareness of the harmful effects of traditional cigarettes, the reduced absorption of tar and carbon monoxide by electronic cigarettes, increased levels of affluence, and technological advancements made by manufacturers of electronic cigarettes. Especially among the younger population, there is a growing awareness that electronic cigarettes are safer than traditional cigarettes, which is expected to drive even further market expansion as a result of the numerous studies conducted by medical institutions and associations. The government is enforcing regulations regarding both consumption and imports at this time. The risks that are associated with vaping, in addition to the reported cases. One’s health can suffer significantly if they have a severe addiction to nicotine.
Segmental Overview:
The market for electronic cigarettes is broken down into four different categories: the type of product, the flavour, the distribution channel, and the geographic region. The rechargeable market segment held the largest market share in 2021, with more than a forty percent share of the overall market. Rechargeable electronics are likely to gain more market share in the near future because they can be purchased for less money and do not require the user to continually purchase consumable supplies like cartridges. Customers who mix their own e-liquid eliminate the need to purchase cartridges that have already been filled, eliminating one more expense for these customers.
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Rechargeable electronic cigarettes are gaining popularity among young people in a number of important countries. These cigarettes produce less smoke than traditional cigarettes and can be charged using a USB cable. The retail store industry was the most successful in 2021, controlling more than 84 percent of the market share. In the past, consumers could purchase electronic cigarettes at various locations including vape shops and gas stations. At these locations, patrons had access to a comprehensive selection of vaping devices as well as e-liquid flavours to choose from. The expansion of retail stores is anticipated to be driven during the forecast period by vape shops that give customers the opportunity to try out and test various electronic cigarettes prior to deciding whether or not to make a purchase.
Regional Overview:
The market for electronic cigarettes is most heavily concentrated in North America. The consumption of these items by younger people has contributed to a rise in demand for them. Teenagers are the most common users of electronic cigarettes in many countries, such as the United States. According to the Centers for Disease Control and Prevention (CDC), there were 3.6 million middle and high school students in the United States who used e-cigarettes over the course of a 30-day research period in the year 2020. This represented 4.7 percent of middle school students and 19.6 percent of high school students who used them.
There are currently over 3,000 different flavours of e-cigarettes available in the United States, with new flavours being released every year. E-cigarettes account for the vast majority of tobacco products. Vaping with nicotine-free e-liquids is a much more pleasurable experience compared to vaping with other types. Furthermore, professional vapers who perform at multiple events and engage in chain vaping for practise believe that nicotine-free vaping is the best alternative to traditional vaping in the regional market. These vapers believe that nicotine-free vaping is the best alternative to traditional vaping in the regional market. The growing popularity of vaping and electronic cigarettes in the fashion industry is driving demand for electronic cigarettes in the North American market.
Competitive Landscape:
Altria Group, British American Tobacco, Imperial Brands, International Vapor Group, Japan Tobacco, Nicotek Llc, Njoy Inc., Philip Morris International Inc., and Reynolds American Inc. are among the major companies that are currently active in the global market for electronic cigarettes. Other major companies include Japan Tobacco and Japan Tobacco Inc.
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
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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