U.S. Electronic Cigarette Market Is Expected to Generate $34,137.3 Million by 2031: Allied Market Research

The electronic cigarette industry is growing because it is less dangerous than traditional cigarettes and causes fewer health problems than tobacco use. The industry will also grow as a result of changing lifestyles and consumer tastes, as well as rising wealth in emerging markets. According to Public Health England (PHE), electronic cigarettes, which are an alternative to anti-smoking medications such as patches, are approximately 95% less dangerous than traditional cigarettes. They can also be prescribed as a controlled substance.

Portland, OR, Jan. 27, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. Electronic Cigarette market was worth $6,698.9 million in 2020 and is expected to be worth $34,137.3 million by 2031, with a CAGR of 16.1% from 2022 to 2031. The analysis looks at the key market segments, competitive environment, and landscape. This study offers insightful advice to industry leaders, financiers, shareholders, and start-ups on creating plans for long-term growth and acquiring an edge over competitors.

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Report coverage & details:

Report Coverage Details
Forecast Period 2022–2031
Base Year 2020
Market Size in 2020 $6,698.9 million
Market Size in 2031 $34,137.3 million
CAGR 16.1 %
No. of Pages in Report 114
Segments covered Product Type, Flavor, and Distribution Channel.
Drivers Increase in health concerns among the smoking population

Rise in preference for the product among youth
Opportunities Growth in interest in flavored and innovative tobaccoless products

Rapid growth of the online retail platform
Restraints Risks associated with the use of electronic cigarettes and reported incidents

Covid-19 Scenario:

  • The outbreak of the COVID-19 pandemic had a negative impact on the growth of the U.S. Electronic Cigarette market. The awareness regarding the impact of Covid on the lungs led to the loss of sales for electronic cigarettes.
  • U.S. was one of the most heavily impacted countries in terms of Covid cases severity. Strict lockdowns and the inability of consumers to purchase products in person led to losses for the market. However, many consumers were ordering products online, and the post covid scenario saw an increase in the demand for electronic cigarettes in the region.

The research provides detailed segmentation of the U.S. Electronic Cigarette market based on product type, flavor, and distribution channel. The report goes into great detail about segments and their sub-segments using tables and figures. Market participants and investors can plan their strategies based on the research's fastest-growing and highest-revenue-generating areas.

The modular segment held the highest market share in 2021, accounting for more than half of the U.S. Electronic Cigarette market, and is expected to maintain its leadership status during the forecast period, registering the highest CAGR of 16.7% from 2022 to 2031.

Tobacco flavor accounted for the highest share in 2021, accounting for nearly 30% of the US Electronic Cigarette market, and is expected to maintain its revenue lead during the forecast period. It is also expected to grow the fastest, at a CAGR of 17.5% from 2022 to 2031.

Based on distribution channel, the specialist e-cig shops segment accounted for the highest share in 2021, holding close to 40% of the U.S. Electronic Cigarette market, and is expected to continue its leadership status during the forecast period. The online segment is estimated to grow at the highest CAGR of 17.3% during the forecast period.

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Leading market players of the U.S. Electronic Cigarette market analyzed in the research include Altria Inc., British American Tobacco P.L.C., Geekvape, Imperial Brands PLC, Japan Tobacco Inc., Njoy, Inc., Shenzhen Eigate Technology Co., Ltd., Shenzhen IVPS Technology Co. Limited, Swisher, and White Cloud Electronic Cigarettes.

The report thoroughly examines these important market participants for electronic cigarettes in the U.S. These companies have used various strategies to increase their market share and maintain dominance in various geographies, including new product releases, collaborations, expansion, joint ventures, agreements, and others. The report is useful for outlining company performance, operating segments, product portfolios, and market participants' strategic actions to highlight the competitive environment.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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