Authored By: Sarah
11 Jul 2024

 E-Cigarette Market to grow by USD 35904.7 million between 2024-2028

According to a research report “ E-Cigarette Market” by Distribution Channel (Offline, Online) Product (Modular E-cigarette, Next-generation products, Rechargeable E-cigarette, Disposable E-cigarette) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 35904.7 million at a CAGR of about 18.09% during the forecast period. The global tobacco market unfortunately claims over six million lives annually, with an additional six hundred thousand non-smokers succumbing to passive smoking. Health concerns such as respiratory diseases, cancer, and heart conditions are directly linked to tobacco use. In response, the business community in the UK is advocating for smokers to transition to e-cigarettes as a less harmful alternative. Over the past decade, e-cigarette manufacturers have prioritized reducing nicotine content in their products, recognizing the addictive nature of nicotine. E-cigarettes generate a flavored aerosol, delivering nicotine to the lungs without the harmful chemicals, like tar, associated with traditional tobacco products..

Browse market data tables, figures, and in-depth TOC on “E-Cigarette Market” by Distribution Channel (Offline, Online) Product (Modular E-cigarette, Next-generation products, Rechargeable E-cigarette, Disposable E-cigarette) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028.

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By Distribution Channel, the Offline segment is projected to dominate the market size in 2024.

The modular e-cigarette market is experiencing significant growth due to the customizable features that enhance the vaping experience. These features include adjustable vapor production, variable voltage, and battery strength, as well as interchangeable e-liquid cartridges. The high demand for modular e-cigarettes is driven by their widespread adoption in various markets and the introduction of innovative new products. Cost-effectiveness is also a major contributing factor to the market's expansion during the forecast period. The modular design consists of a battery, cartomizer, and cartridge, with the battery being the largest component, making up approximately half the length of the entire device.

By Product, Modular E-cigarette  segment is expected to hold the largest market size for the year 2024.

The e-cigarette market relies heavily on offline retail channels, with specialty vape shops playing a pivotal role as dedicated distributors. These establishments offer an extensive range of e-cigarettes, e-liquids, and vaping accessories, providing a unique and engaging shopping experience for customers. Major retail chains, including hypermarkets and supermarkets, have identified the market demand and began stocking a limited selection of e-cigarette products.

North America is forecasted to hold the largest market size by region in 2024.

The e-cigarette market represents a significant growth opportunity for businesses, with increasing consumer preference for alternative nicotine delivery systems. This sector's expansion is driven by technological advancements, shifting demographics, and regulatory frameworks. E-cigarettes offer a more discreet and convenient solution compared to traditional tobacco products, making them an attractive option for health-conscious consumers. Companies investing in this market can capitalize on this trend by providing innovative, high-quality, and cost-effective solutions.

The E-Cigarette Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Altria Group Inc.
  • British American Tobacco Plc
  • ePuffer Ltd.
  • GD SIGELEI Electronic Tech Co. Ltd.
  • Geekvape
  • ICCPP
  • Imperial Brands Plc
  • Innokin Technology Ltd.
  • ITC Ltd.
  • Japan Tobacco Inc.
  • JUUL Labs Inc.
  • JWEI Group
  • OXVA
  • PhixVapor
  • Shenzhen IVPS Technology Co. Ltd.
  • Shenzhen KangerTech Technology Co. Ltd.
  • Shenzhen Runfree Technology Co. Ltd.
  • Shenzhen UWELL Technology Co. Ltd.
  • SMOORE International Holdings Ltd.
  • White Cloud Electronic Cigarettes
.

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Research Analysis Overview

The E-Cigarette Market has witnessed significant growth over the past decade, particularly in the E-Cigarettes segment. Single-use counterparts and next-generation e-cigarettes, including vaping devices, have gained popularity among younger generations and young adult consumers. These devices offer the allure of zero smoke and reduced-risk products, making them an alternative to traditional tobacco products. However, concerns regarding nicotine dependence, addiction, and the presence of harmful chemicals and toxic substances in aerosol/vapor have arisen. Online age verification systems have been implemented to mitigate the sale of e-cigarettes to adolescents. Regulations regarding the use of e-cigarettes in public areas and their impact on health-related problems continue to evolve worldwide. As the Tobacco Products market expands, it is crucial to distinguish between reduced-risk products and those with harmful substances. Individuals should be aware of nicotine levels and the potential risks associated with refillable cartridges and nicotine addiction.

Market Research Overview

The E-Cigarette Market has witnessed significant changes over the past decade, with the acceptance of e-cigarettes as cost-effective solutions for professional vapers and non-smokers seeking variety and customization. E-liquids come in a wide range of flavors, including beverage flavors like Cola and Fruits, as well as sweet flavors and botanical flavors. Nicotine-free e-liquids are also available for those looking to avoid nicotine intake and addiction. E-cigarette devices include manual and automatic models, as well as next-generation e-cigarettes and rechargeable starter kits. The market for e-cigarettes and alternative tobacco products has seen an exponential trend, with forecasts indicating continued growth in the medium term. Consumer preferences for e-cigarettes are influenced by cultural preferences, convenience, and performance factors. Regulations and health concerns have been key issues in the E-Cigarettes segment of the Tobacco Products market. Online age verification and concerns over nicotine dependence, harmful chemicals, and toxic substances in e-cigarettes have led to increased scrutiny and regulations. However, the appeal of e-cigarettes for smoking cessation efforts and their zero smoke and aerosol/vapor output make them an attractive alternative for adolescents and young adults. According to Statista Consumer Insights, survey results, and trade data, e-cigarette brands like NJOY, Logic, blu, Vuse, Juul, ANYX GO, and V-Nix Vape Pen have gained popularity among consumers. Sustainable vaping devices are also emerging as a new trend in the market. The E-Cigarettes segment is expected to continue its growth trajectory in the coming years, with new and relevant data indicating significant changes in consumer behavior and market dynamics on an ad hoc basis.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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