Europe E-Cigarettes Market Revenues to Reach USD 21.00 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, Aug. 07, 2023 (GLOBE NEWSWIRE) --  According to a new market research report titled “Europe E-Cigarettes Market Report (2023-2028),” the market is estimated at USD 11.45 billion in 2023. It is expected to register a CAGR of 12.90% during the forecast period.

The European e-cigarette market is experiencing robust growth owing to increasing consumer interest. In an e-cigarette, a heating element (atomizer) is utilized for the combustion of the liquid mixture, along with a mouthpiece that assists with inhalation and a reservoir that holds the liquid solution. They are a relatively safer alternative to conventional cigarettes since they do not burn tobacco, which produces tar and carbon monoxide. Therefore, the demand for e-cigarettes in Europe is increasing. The robust marketing of e-cigarettes in the European region has also led to a substantial increase in consumers opting for these devices, markedly young adults and adolescents.

Report Summary:

Who are the Top Companies in the Europe E-Cigarettes Market?

The European e-cigarette market is consolidated. It comprises a few prominent players who hold most of the share in the market. The important strategies adopted by the major players are product innovation and mergers and acquisitions.

The key players in the European e-cigarettes market are:

• British American Tobacco PLC
• Philip Morris International Inc.
• Altria Group Inc.
• Imperial Brands PLC
• Japan Tobacco Inc.
• J Well France SARL
• Blu Cigs
• Njoy
• Gamucci
• Nicocig
• Aquios Labs
• BecoVape 

Other Reports That Might Be of Your Interest:

• Asia-Pacific E-Cigarette Market Report - The Asia-Pacific e-cigarette market is projected to register a CAGR of 1.93% during the forecast period.
• Latin America E-cigarette Market Report - The Latin American e-cigarette market is projected to register a CAGR of 5.74% during the forecast period.

Key Highlights from the Europe E-Cigarettes Market Report:

Rising Dual-Use E-Cigarette Among Consumers

• To moderate their use of conventional/combustible cigarettes, consumers in the region increasingly use e-cigarettes concurrently. Similarly, as e-cigarettes resemble the experience of smoking conventional/combustible cigarettes, consumers progressively use them to satisfy their nicotine dependency. They do not produce the tar found in traditional cigarettes, which is a primary cause of lung cancer.
• Likewise, as these products are offered in nicotine and non-nicotine produces, most of the population considers them better alternatives. Accordingly, the product is gaining mainstream awareness, and more smokers are trying and recognizing e-cigarettes as an alternative to their tobacco cigarettes.

United Kingdom to Account for Major Market Growth

• The United Kingdom is the largest European market for e-cigarettes and the second-largest worldwide, driving the market in the region. E-cigarette use in the country is growing due to the rising number of users, coupled with support from health authorities.
• Furthermore, the market offers a wide variety of flavors, and consumers prefer customized e-liquid flavors. Several businesses with physical stores permit consumers to test and try different flavors and liquids before making a purchase. This contributes to the market growth of e-cigarettes in the United Kingdom.

What are the Latest Developments in the Europe E-Cigarettes Market?

• In March 2023, Aquios Labs announced its new innovation, where it developed a water-based technology and presented a commercial product in cooperation with Innokin Technology to offer smokers a better smoking experience.
• In February 2023, Imperial Brand launched the highly anticipated Pulze heated tobacco device upgrade, showcasing the company's commitment to innovation and the development of potentially reduced-harm products.

Mordor Intelligence has Segmented the Europe E-Cigarettes Market Based on Product Type, Battery Mode, and Geography:

• • By Product Type
    • • Completely Disposable Model
      • Rechargeable but Disposable Cartomizer
      • Personalized Vaporizer
  • By Battery Mode
    • • Automatic E-Cigarette
      • Manual E-Cigarette
  • By Geography
    • • United Kingdom
      • France
      • Germany
      • Italy
      • Russia
      • Spain
      • Rest of Europe

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the  Europe E-cigarettes Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

• United States E-cigarettes Market Report - The US e-cigarettes market size is expected to grow from USD 30.33 billion in 2023 to USD 57.68 billion by 2028, at a CAGR of 13.72% during the forecast period (2023-2028).
• Cigarette Market Report – The global cigarette market is expected to register a CAGR of 6.6% during the forecast period.
• Egypt Tobacco Market Report - The Egyptian tobacco market is expected to register a CAGR of 7.16% during the forecast period.

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.

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• Europe E-Cigarette Market - Mordor Intelligence