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E-Cigarette Market Size
E-Cigarette Market size exceeded USD 8 billion in 2019 and is estimated to grow at around 2% CAGR between 2020 and 2026. Increasing government initiatives to implement indoor smoking bans, awareness campaigns about health risks along with prohibitive taxation to curb tobacco use across the globe is likely to drive the industry growth.
The introduction of e-cigarettes has helped smokers to reduce health risks associated with traditional cigarettes owing to the absence of tobacco in these devices. Growing awareness regarding the harmful effects of tobacco smoke inhalation has led to market growth.
Increasing technological advancements and new product innovations are propelling the e-cigarette industry growth. Moreover, changing consumer preferences, increasing number of vape stores, and availability of these devices in a wide variety of flavors & shapes are further boosting the market demand.
| Report Attributes | Details |
|---|---|
| Base Year: | 2019 |
| Market Size in 2019: | USD 8 Billion |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 2% |
| 2026 Value Projection: | USD 9 Billion |
| Historical Data for: | 2015 to 2019 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 250 |
| Segments covered: | Product, Composition, Type, and Distribution Channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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E-Cigarette Market Analysis
Modular e-cigarettes segment is expected to witness high growth in the U.S. through 2026 owing to their benefits of smaller size, lower cost, dense aerosol production, and flexibility to be used with different types of flavors. These devices contain refillable e-liquid tanks & customizable wattage and allow users to regulate the power delivered from system’s battery to the automizer. The availability of customization in vapor amount, e-liquid flavor choice, effective battery strength, and variable voltage offered by these devices are significant factors accelerating the e-cigarette market revenue. The increasing adoption of the cigarettes will provide significant opportunities to manufacturers.
Increasing health concerns related the consumption of nicotine containing products is encouraging users to shift to non-nicotine e-cigarettes. Several federal and state health authorities are indicating that exposure to nicotine during adolescence can cause addiction and harm the developing brain.
E-cigarettes containing nicotine have considered as a drug delivery device and have been banned in various countries including Japan, Sweden, Malaysia and Australia. With rising health and safety concerns of nicotine-containing e-liquid, the manufacturers are focusing on offering with 0% nicotine strength.
Automatic devices are powered by drag and include a built-in switch that activates each time a user draws on the e-cigarette. It allows smokers to have quick smoke by eliminating buttons, complicated mods or dripping. Another advantage of using automatic e-cigarettes is the possibility to hold charge 25% longer than a manual battery. Several companies are focusing on providing more convenience in cleaning and maintenance of these cigarettes along with attractive designs to make them more appealing to smokers. Automatic cigarettes enable low-energy consumption and allow users to vape for a longer period between charging.
The emerging trend toward e-commerce, online retailing is encouraging smokers to purchase these solutions from e-commerce websites. Online shopping offers flexibility and convenience in selecting desired solutions from a wide range of alternatives. Furthermore, these sites offer varied product pricing, letting users to get offers and discounts on their purchases. It is being showcased that e-cigarette users are favoring in-store shopping for accessories such as cases, adapters, chargers, replacement coils, spare parts, and batteries while they are shopping for e-cigarettes through online retailers.
The Europe e-cigarette market size is projected to observe substantial growth rate through 2026 on account of the largest smoking population in countries including the UK, Germany, France, Italy, and Spain. Several leading e-cigarette companies from the U.S. and China are focusing on penetrating the market to leverage the opportunity presented by a large consumer base. However, the increasing number of vape shops and new products launched by manufacturers to streamline and enrich the experience of e-cigarette smokers will spur the regional industry statistics.
E-Cigarette Market Share
Companies are adopting several strategies, such as mergers & acquisitions, new product launches, and technological advancements, to enhance their offerings and target a wider customer base.
Some of the major e-cigarette market players are
- British American Tobacco (BAT)
- Healthier Choices Management Corp.
- Imperial Brands PLC
- Turning Point Brands Inc.
- Japan Tobacco Inc
- JUUL Labs, Inc
- MCIG Inc
- Nicotek, LLC
- NicQuid, LLC
- Njoy Inc
- Philip Morris International
- Reynolds American Inc
- Shenzhen IVPS Technology Co., Ltd.
This market research report on e-cigarette includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD from 2016 to 2026, for the following segments:
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Market, By Composition
- Nicotine
- Non-Nicotine
Market, By Product
- Disposable
- Modular
- Rechargeable
Market, By Type
- Automatic
- Manual
Market, By Distribution Channel
- Distribution Channel
- Hypermarket/supermarket
- Online
- Vape shops/tobacconist
- Others
The above information is provided on a regional and country basis for the following:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Russia
- Asia Pacific
- China
- Japan
- Malaysia
- Australia
- South Korea
- Latin America
- Mexico
- Chile
- Colombia
- MEA
- GCC
- South Africa
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