ENG
E-Cigarette Market: Global Industry Outlook and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation by Product, Distribution Channel, and Region
E-Cigarette Market was valued at USD 24.54 billion in 2022. Global E-Cigarette Market size is estimated to grow at a CAGR of 8.64 % over the forecast period.
Format : PDF | Report ID : SMR_382
E-Cigarette Market Definition:
An e-cigarette is a device with a battery, nebulizer, and inhaler that provides a similar cigarette smoking experience without inhaling smoke. The device is filled with a nicotine-containing solution or a nicotine-free liquid, heated to vapor and inhaled, and is considered less harmful than traditional cigarettes. The E-Cigarette Market report is come up with segment analysis on the basis of product, distriburion channel and region.
E-Cigarette Market Dynamics:
Due to numerous research conducted by medical institutions and associations, there is a growing awareness that e-cigarettes are safer than traditional cigarettes, especially among the younger population. This is driving the E-cigarette market growth.
In terms of battery life and the number of flavors available on the market, the devices have improved. In comparison to traditional cigarettes, the decreasing cost-effectiveness of these devices has increased user uptake.
Menthol, tobacco, fruits and nuts, chocolate, and other flavors are available on the market, and these flavor options are attracting a large number of female consumers. These factors are driving the E-cigarette market.
E-cigarette T is a popular choice because it is a non-smoking alternative, even if traditional smoking is prohibited. Many individuals, particularly in North America and Europe, are becoming more aware of e-cigarettes. The E-cigarette market is growing due to the rising population and millennial smoking habits.
E-cigarette manufacturing and distribution is a simple procedure. Access to the store is critical to the product's continued appeal. It's easy to carry because it's light and tiny. And, because it is a tobacco substitute, the most interested customers are already familiar with the product, so there is no need for extravagant promotional explanations.
It's an exact replica of the original Cigarette. When it comes to inhaling from an e-cigarette, many consumers are dissatisfied. It isn't the same at all. Because it isn't, some people fall back on genuine cigarettes, which don't elicit the same sentiments.
A malfunction of the e-cigarette tank system might alter the flavor of nicotine. Leaks can alter the flavor. People do not want to waste their money in this manner. The pool of possible purchasers for the goods is lessening as a result of this circumstance.
Consumers are aware that e-cigarettes are a tobacco-free alternative. They understand that it should be superior to traditional solutions. However, regulatory, nicotine, distribution, and safety data is mired in a fog of confusion. This is limiting the E-cigarette market growth.
The vendors' wide range of customization features, such as temperature control and nicotine dosages, are projected to increase product demand. Manufacturers' continuous improvement in new product development is expected to boost E-cigarette market expansion.
Building a strong foundation for loyal customers requires a high level of interest. There is no doubt that this product's eventual enhancement will increase interest in it. A better e-cigarette system can reassure purchasers by reducing battery usage, enhancing the vaping process, and changing the nicotine tank system.
Consumers can be directed to relevant and reliable information by businesses. Non-smokers are not converted, but their ideas and perspectives are valuable, particularly while policies are being developed. Relaxed regulations, improved product awareness, and less controversy regarding the use of e-cigarettes will all contribute to E-cigarette market growth in the near future.
The government is in charge of tobacco legislation and control. Cigarettes will be affected, but not e-cigarettes. Regulatory agencies, however, continue to treat them in this manner. Policymakers may seek to restrict the product because tobacco/nicotine is injected into the container. The Indian government outlawed e-cigarette manufacturing, production, import/export, sale, transportation, storage, distribution, and advertising in 2019.
There is also a pervasive fear about health dangers. It may not currently have an impact on public opinion, but as more information becomes available and misunderstandings arise, this may easily change. Despite the lack of data, e-cigarettes do not carry the same health dangers as cigarettes. These reasons are limiting the E-cigarette Market's growth.
E-Cigarette Market Segment Analysis:
By Product, the rechargeable sector held a 59 % share of the E-cigarette market in 2020. They are cost-effective in the long run and do not necessitate the purchase of consumables like cartridges. Customers who make their own e-liquids don't need to buy cartridges that are already filled. Consumers may use the rechargeable device for a long time by replacing the cartridge with e-liquid. Rechargeable e-cigarettes are especially cost-effective for experienced smokers. These reasons are driving the market's segment growth.
Through the forecast period, the modular category is expected to rise at a CAGR of 5%. Provides a high level of customization, allowing the user to combine different features and components to customize the taste and amount of steam created by the gadget to meet their specific demands. To assist clients in purchasing the goods, vendors provide various device configurations and price ranges. Throughout the forecast period, these factors are expected to drive the E-cigarette market.
E-Cigarette Market Regional Insights:
With a market share of 40% in 2020, North America dominated the industry. The presence of major industry players such as Philip Morris International Inc., JUUL Labs, Inc., and others are driving regional E-cigarette market growth. Social networking networks are commonly used to market e-cigarettes and arc goods. Devices have largely been regarded by young people as a safe alternative to cigarettes. This is driving the market's expansion in this region.
Through the forecast period, Asia Pacific is expected to grow at a CAGR of 6.7 %. The majority of e-cigarettes are imported from other nations, such as China, making it easy to buy in bulk via online platforms, which is expected to increase demand in the region. Through the forecasted period, these factors are expected to drive the market.
E-Cigarette Market Key Players Insights:
The E-cigarette market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.
The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in Europe and North America, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.
The objective of the report is to present a comprehensive analysis of the Global E-Cigarette market to the stakeholders in the industry. The report provides trends that are most dominant in the Global E-Cigarette market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the global market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the Global E-Cigarette market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global E-Cigarette market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the global market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Global E-Cigarette market. The report also analyses if the Global E-Cigarette market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.
The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global E-Cigarette market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global E-Cigarette market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global E-Cigarette market is aided by legal factors.
E-Cigarette Market Scope:
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E-Cigarette Market Scope |
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Market Size in 2022 |
USD 24.54 Bn. |
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Market Size in 2029 |
USD 43.85 Bn. |
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CAGR (2023-2029) |
8.64% |
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Historic Data |
2018-2022 |
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Base Year |
2022 |
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Forecast Period |
2023-2029 |
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Segment Scope |
By Product
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By Distribution Channel
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Regional Scope |
North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America |
E-Cigarette Market Key Players:
- Altria Group
- International Vapor Group
- Nicotek Llc
- Reynolds American Inc.
- Vmr Flavours Llc
- British American Tobacco PLC
- Philip Morris International Inc.
- Imperial Brands PLC
- JWEI Group
- J Well France
- Japan Tobacco Inc.
- Ritchy Group Ltd
- Juul Labs Inc.
- Innokin Technology
- NJOY Inc.
Frequently Asked Questions
Asia Pacific region is expected to hold the highest share in the E-Cigarette Market.
The market size of the E-Cigarette Market by 2029 is expected to reach USD 43.85 Billion
The forecast period for the E-Cigarette Market is 2022-2029.
The market size of the E-Cigarette Market in 2022 was valued at USD 24.54 Billion.
Chapter 1 Scope of the Report
Chapter 2 Research Methodology
2.1. Research Process
2.2. Global E-Cigarette Market: Target Audience
2.3. Global E-Cigarette Market: Primary Research (As per Client Requirement)
2.4. Global E-Cigarette Market: Secondary Research
Chapter 3 Executive Summary
Chapter 4 Competitive Landscape
4.1. Market Share Analysis, By Value, 2022-2029
4.1.1. Market Share Analysis, By Region, By Value, 2022-2029 (In %)
4.1.1.1. North America Market Share Analysis, By Value, 2022-2029 (In %)
4.1.1.2. Europe Market Share Analysis, By Value, 2022-2029 (In %)
4.1.1.3. Asia Pacific Market Share Analysis, By Value, 2022-2029 (In %)
4.1.1.4. South America Market Share Analysis, By Value, 2022-2029 (In %)
4.1.1.5. Middle East and Africa Market Share Analysis, By Value, 2022-2029 (In %)
4.1.2. Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.1. North America Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.1.1. USA Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.1.2. Canada Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.1.3. Mexico Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.2. Europe Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.2.1. UK Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.2.2. France Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.2.3. Germany Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.2.4. Italy Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.2.5. Spain Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.2.6. Sweden Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.2.7. Austria Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.2.8. Rest of Europe Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.3. Asia Pacific Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.3.1. China Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.3.2. India Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.3.3. Japan Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.3.4. South Korea Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.3.5. Australia Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.3.6. ASEAN Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.3.7. Rest of APAC Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.4. South America Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.4.1. Brazil Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.4.2. Argentina Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.4.3. Rest of South America Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.5. Middle East and Africa Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.5.1. South Africa Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.5.2. GCC Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.5.3. Egypt Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.5.4. Nigeria Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.2.5.5. Rest of Middle East and Africa Market Share Analysis, By Product, By Value, 2022-2029 (In %)
4.1.3. Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4. North America Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.1.1. USA Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.1.2. Canada Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.1.3. Mexico Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.2. Europe Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.2.1. UK Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.2.2. France Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.2.3. Germany Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.2.4. Italy Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.2.5. Spain Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.2.6. Sweden Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.2.7. Austria Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.2.8. Rest of Europe Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.3. Asia Pacific Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.3.1. China Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.3.2. India Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.3.3. Japan Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.3.4. South Korea Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.3.5. Australia Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.3.6. ASEAN Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.3.7. Rest of APAC Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.4. South America Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.4.1. Brazil Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.4.2. Argentina Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.4.3. Rest of South America Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %) 4.1.4.5. Middle East and Africa Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.5.1. South Africa Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.5.2. GCC Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.5.3. Egypt Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.5.4. Nigeria Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.1.4.5.5. Rest of Middle East and Africa Market Share Analysis, By Distribution Channel, By Value, 2022-2029 (In %)
4.2. Stellar Competition matrix
4.2.1. Global Stellar Competition Matrix
4.2.2. North America Stellar Competition Matrix
4.2.3. Europe Stellar Competition Matrix
4.2.4. Asia Pacific Stellar Competition Matrix
4.2.5. South America Stellar Competition Matrix
4.2.6. Middle East and Africa Stellar Competition Matrix
4.3. Key Players Benchmarking
4.3.1. Key Players Benchmarking by Product, Pricing, Market Share, Investments, Expansion Plans, Physical Presence and Presence in the Market.
4.4. Mergers and Acquisitions in Industry
4.4.1. M&A by Region, Value and Strategic Intent
4.5. Market Dynamics
4.5.1. Market Drivers
4.5.2. Market Restraints
4.5.3. Market Opportunities
4.5.4. Market Challenges
4.5.5. PESTLE Analysis
4.5.6. PORTERS Five Force Analysis
4.5.7. Value Chain Analysis
Chapter 5 Global E-Cigarette Market Segmentation: By Product
5.1. Global E-Cigarette Market, By Product, Overview/Analysis, 2022-2029
5.2. Global E-Cigarette Market, By Product, By Value, Market Share (%), 2022-2029 (USD Million)
5.3. Global E-Cigarette Market, By Product, By Value,
5.3.1. Rechargeable
5.3.2. Modular
Chapter 6 Global E-Cigarette Market Segmentation: By Distribution Channel
6.1. Global E-Cigarette Market, By Distribution Channel, Overview/Analysis, 2022-2029
6.2. Global E-Cigarette Market Size, By Distribution Channel, By Value, Market Share (%), 2022-2029 (USD Million)
6.3. Global E-Cigarette Market, By Distribution Channel, By Value,
6.3.1. Offline
6.3.2. Online
Chapter 7 Global E-Cigarette Market Segmentation: By Region
7.1. Global E-Cigarette Market, By Region – North America
7.1.1. North America E-Cigarette Market Size, By Product, By Value, 2022-2029 (USD Million)
7.1.2. North America E-Cigarette Market Size, By Distribution Channel, By Value, 2022-2029 (USD Million)
7.1.3. By Country – U.S.
7.1.3.1. U.S. E-Cigarette Market Size, By Product, By Value, 2022-2029 (USD Million)
7.1.3.2. U.S. E-Cigarette Market Size, By Distribution Channel, By Value, 2022-2029 (USD Million)
7.1.3.3. Canada E-Cigarette Market Size, By Value, 2022-2029 (USD Million)
7.1.3.4. Mexico E-Cigarette Market Size, By Value, 2022-2029 (USD Million)
7.2. Europe E-Cigarette Market Size, By Value, 2022-2029 (USD Million)
7.2.1. UK
7.2.2. France
7.2.3. Germany
7.2.4. Italy
7.2.5. Spain
7.2.6. Sweden
7.2.7. Austria
7.2.8. Rest of Europe
7.3. Asia Pacific E-Cigarette Market Size, By Value, 2022-2029 (USD Million)
7.3.1. China
7.3.2. India
7.3.3. Japan
7.3.4. South Korea
7.3.5. Australia
7.3.6. ASEAN
7.3.7. Rest of APAC
7.4. Middle East and Africa E-Cigarette Market Size, By Value, 2022-2029 (USD Million)
7.4.1. South Africa
7.4.2. GCC
7.4.3. Egypt
7.4.4. Nigeria
7.4.5. Rest of Middle East and Africa
7.5. South America E-Cigarette Market Size, By Value, 2022-2029 (USD Million)
7.5.1. Brazil
7.5.2. Argentina
7.5.3. Rest of South America
Chapter 8 Company Profiles
8.1. Key Players
8.1.1. ALTRIA GROUP
8.1.1.1. Company Overview
8.1.1.2. Product Portfolio
8.1.1.3. Financial Overview
8.1.1.4. Business Strategy
8.1.1.5. Key Developments
8.1.2. INTERNATIONAL VAPOR GROUP
8.1.3. NICOTEK LLC
8.1.4. REYNOLDS AMERICAN INC.
8.1.5. VMR FLAVOURS LLC
8.1.6. British American Tobacco PLC
8.1.7. Philip Morris International Inc.
8.1.8. Imperial Brands PLC
8.1.9. JWEI Group
8.1.10. J Well France
8.1.11. Japan Tobacco Inc.
8.1.12. Ritchy Group Ltd
8.1.13. Juul Labs Inc.
8.1.14. Innokin Technology
8.1.15. NJOY Inc.
8.2. Key Findings
8.3. Recommendations
