Clifton, New Jersey, May 23, 2023 (GLOBE NEWSWIRE) -- E-cigarettes are often perceived as a less harmful alternative to smoking, which has led health-conscious individuals to switch to vaping. Nowadays, e-cigarettes have gained popularity as a smoking cessation tool. Many smokers see e-cigarettes as a means to reduce or quit smoking traditional cigarettes. The availability of different nicotine strengths allows smokers to gradually decrease their nicotine intake over time. They are compact, easy to carry, and do not require accessories like lighters or ashtrays. This convenience factor has made them popular among individuals who are constantly on the move and prefer a hassle-free smoking alternative. In addition to that, traditional smoking bans and restrictions in public areas have led to an increased social stigma associated with smoking. E-cigarettes, which produce less odor and second-hand smoke, are often considered more communally acceptable, allowing users to vape in more social places.
The e-cigarette market has room for expansion, particularly in regions where these are not yet widely adopted or where traditional smoking rates remain high. Emerging markets, such as parts of Asia and Africa, present significant growth potential as more people become aware of and interested in e-cigarettes. In addition to that, e-cigarettes have shown promise as a nicotine replacement therapy tool to help individuals quit smoking. Collaborating with healthcare professionals, conducting clinical trials, and obtaining regulatory approvals for marketing e-cigarettes as NRT options could open up new avenues for growth and increase acceptance of e-cigarettes as smoking cessation aids. There is an opportunity to educate the public, policymakers, and healthcare professionals about the potential benefits and risks of e-cigarettes. Increasing awareness through educational campaigns, scientific research, and responsible marketing can help foster a more informed and supportive environment for the e-cigarette market. Furthermore, expanding product offerings beyond e-cigarettes themselves includes diversifying into related sectors such as e-liquids, vaping accessories, and other complementary products. Some e-cigarette companies have formed partnerships or received investments from traditional tobacco companies. Collaborating with established tobacco manufacturers can provide access to distribution networks, regulatory expertise, and resources, accelerating market growth and market penetration.
Key Takeaways:
- North America is dominating the market in 2022 with a 51.45% share owing to rising awareness, especially among the younger population.
- 3rd generation e-cigarettes, also known as modular e-cigarettes are expected to grow with 18.85% CAGR by incorporating advanced technology and automatic feature compared to earlier generations.
- The tobacco flavor is leading the market with USD 6.85 Billion market size in 2022 as it is the most preferred flavor among consumers since it offers a similar taste as that of conventional cigarettes.
- The growth of e-commerce platforms has provided a convenient avenue for consumers to purchase e-cigarettes and related products that tends the market to grow with 22.68% CAGR for 2023-28.
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Regulation and Legal Environment: One of the significant challenges for the e-cigarette market is the evolving regulatory landscape. Different countries have implemented varying regulations, including restrictions on advertising, sales, flavors, and product standards. Some jurisdictions have even imposed outright bans on e-cigarettes. E-cigarettes have faced criticism and negative perceptions in some circles. Concerns about the potential normalization of nicotine use among youth, the appeal to non-smokers, and the potential gateway effect to traditional smoking have created a stigma around vaping. Negative media coverage, misinformation, and misconceptions about e-cigarettes have influenced public opinion and led to stricter regulations or reduced acceptance of vaping.
Competition from Traditional Tobacco Industry: The established traditional tobacco industry has entered the e-cigarette market through acquisitions, partnerships, or product launches. These industry giants have significant resources, distribution networks, and brand recognition, creating intense competition for smaller e-cigarette companies. The entry of traditional tobacco companies has also impacted the market dynamics and consumer perception of e-cigarettes. Also, the relatively short history of e-cigarettes means that there is limited long-term research on their effects on health, safety, and smoking cessation efficacy. The absence of conclusive evidence on the long-term impacts of vaping creates uncertainty and can hinder broader acceptance and adoption of e-cigarettes as smoking cessation tools.
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Furthermore, continuous product innovation is a crucial opportunity in the e-cigarette market. Developing new and improved devices, flavors, and accessories attracts both existing vapers and individuals who are considering switching from traditional cigarettes. Innovations such as advanced heating technologies, longer battery life, and enhanced flavor profiles can enhance the overall vaping experience and drive market growth. With increasing awareness of health and wellness, there has been a trend toward the development of e-cigarettes positioned as healthier alternatives to traditional cigarettes. Manufacturers have emphasized features like reduced nicotine content, organic ingredients, and product transparency to cater to health-conscious consumers. The market has witnessed a rise in devices and e-liquids that offer greater customization and personalization options. Vapers can now choose from a variety of adjustable settings, different coil types, and airflow options to fine-tune their vaping experience according to their preferences.
In addition to that, e-cigarettes have embraced technological advancements, such as Bluetooth connectivity, touchscreens, and smartphone apps. These features enable users to track usage, adjust settings, and receive personalized vaping data. The integration of technology aims to enhance user experience and provide additional functionalities. Also, the boundaries between e-cigarettes and other categories, such as traditional tobacco products or cannabis devices, have become more blurred. Some manufacturers have introduced hybrid devices that can accommodate both e-liquids and tobacco sticks or offer interchangeable cartridges for vaping different substances. E-liquids, which are used in e-cigarettes, are available in a wide variety of flavors. This wide range of flavors is one of the reasons for their appeal, especially among younger users. However, there are concerns about the impact of flavored e-cigarettes on youth initiation and addiction.
“Pod systems or Next-Generation E-Cigarette (4th Generation) is experiencing higher market growth and gaining popularity among consumers” says, Mr. Dhwipal Shah, Research Director with Bonafide Research. Pod systems offer a user-friendly experience, and compact design, and often come with pre-filled or refillable pods, which appeal to both beginner and experienced vapers. Some pod systems also incorporate advanced features such as adjustable airflow control, variable wattage or voltage settings, and OLED displays. As technology advances, pod systems are incorporating more efficient battery technology to extend usage time between charges. Manufacturers have been introducing a wide range of flavors specifically tailored for pod systems. This trend includes traditional tobacco and menthol flavors, as well as a multitude of fruit, dessert, and beverage-inspired options. However, fruit flavors have been popular among younger adult vapers, as they are often perceived as more appealing and enjoyable compared to traditional tobacco flavors. The availability of fruit flavors in e-cigarettes can attract those who are transitioning from combustible tobacco or trying to quit smoking. Whether it's tropical fruits, berries, citrus, or exotic blends, fruit flavors provide a diverse range of choices.
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The penetration of e-cigarettes in North America is incredibly high owing to the rising popularity of e-cigarettes among the youth population, the rapid expansion of vape shops, and the prevalence of online retail. This is due to the vast selection of brands and flavors in online stores. They find e-cigarettes trendy and are attracted by the various aspects such as compact designs. Furthermore, the conceivability, availability of a large assortment of flavors, and the flavored/odorless aerosol exhaled make it hard to detect smoking. One of the popular brands among the demographic is JUUL, a brand of e-cigarette that is shaped like a USB flash drive. North America E-cigarette Market is anticipated to register growth on the back of increasing disposable income, the imposition of high taxes levied on tobacco and conventional cigarettes and a spur in the number of smokers in the developed economies across the region. Additionally, the low use of nicotine in e-cigarettes along with low smoke emission technicality of the product is anticipated to provide vast avenues for the growth of the North America e-cigarette market in the coming years. For instance, the Tobacco and Vaping Products Act (TVPA) establishes a nationalized framework for vaping products, in addition to governing how tobacco products are to be produced, labelled, promoted, and sold in the country.
Europe has a diverse regulatory landscape for e-cigarettes. The European Union's Tobacco Products Directive (TPD) sets certain regulations for e-cigarettes and e-liquids, including restrictions on nicotine content, bottle sizes, packaging, and advertising. However, individual countries within Europe may have additional regulations and varying interpretations of the TPD, leading to a patchwork of rules across the region. The adoption of e-cigarettes varies across European countries. Countries such as the United Kingdom, France, and Germany have witnessed relatively higher adoption rates, while others are still in the early stages of market development. The players are continuously launching new products to retain and strengthen their market positions. For instance, Imperial Blue launched its heated cigarette products in the Czech Republic in 2021. The company has invested in heated cigarette products in several key markets in Europe as a part of the new strategy of its commitment to accelerate its new category business. Some of the major players in the market are British American Tobacco PLC, Philip Morris International Inc., Altria Group, Inc., Imperial Brands PLC, and Japan Tobacco Inc.
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The Asia-Pacific region has experienced significant growth in the e-cigarette market. Factors such as increasing urbanization, changing lifestyles, and rising awareness of the potential harm-reduction benefits of e-cigarettes have contributed to the market's expansion. China plays a significant role in the e-cigarette market, both as a major producer and consumer. Many e-cigarette manufacturers are based in China, supplying devices and components globally. The country also has a substantial domestic market, with a large number of vapers and a growing interest in new vaping technologies. Cultural attitudes towards smoking and vaping influence the e-cigarette market in the Asia-Pacific region. In some countries, traditional tobacco use is deeply rooted in culture, while in others; there is a growing interest in alternative nicotine products. Asia Pacific continues to be the largest cigarette market in the world in volume terms. Five out of the global top 10 cigarette markets are located in Asia Pacific, including China, Indonesia, Japan, Vietnam and Bangladesh. The region’s cigarette consumption experienced a decline over the review period having faced the impact of COVID-19. Further, the market is driven by factors such as increasing awareness among consumers, government initiatives to curb tobacco use, increasing tobacco and drug abuse in the region, and upsurge in the e-commerce industry. Disposable cig-a-like, rechargeable cig-a-like, and open tank vaporizer are the major contributor to the Asia-Pacific e-cigarette market size.
The easy availability of a wide range of product flavors via online distribution channels is catalyzing market growth across the South American region. Furthermore, leading players in the industry are relying on social media platforms to implement innovative promotional strategies and expand their consumer base in the region. Besides this, they are also introducing next-generation product variants that involve refillable, pre-filled pod systems, which are anticipated to fuel market growth in the upcoming years. South America E-Cigarette Market noticed the development which includes more efficient e-cigarettes that contain tobacco but have a less-negative impact on health. Also, the next generation e-cigarettes provide significant technology upgrades and extended battery life. These variants also include refillable, pre-filled pod systems which makes the usage easy. Some modern e-cigarettes can also resemble USB memory sticks or cigars but can still provide the sensation of smoking tobacco. The government has put several restrictions on public use of e-cigarettes and vaping devices but the non-tobacco versions have allowed the occasional smokers to move outside restricted spaces.
The Middle East & Africa market is driven by the increasing sales of these cigarettes via online platforms and growing awareness about health in the country. The introduction of new and intriguing flavors is the trend in the Middle East e-cigarette market. Let alone in South Africa, about 20% of the population uses e-cigarettes after the age of 15. Attractive flavors, such as bubble gum, menthol, cola, coffee, mint, and fruits, have been introduced in the market to attract customers. The demand for new flavors by users is motivating manufacturers to launch many more of these. For instance, a new ‘Rebel Ice’ flavor was launched in 2019 by Twisp (Proprietary) Limited, a South African e-cigarette brand. The introduction of new and intriguing flavours is the trend in the Middle East e-cigarette market. Let alone in South Africa, about 20% of the population uses e-cigarettes after the age of 15. Attractive flavours, such as bubble-gum, menthol, cola, coffee, mint, and fruits, have been introduced in the market to attract customers. The demand for new flavours by users is motivating manufacturers to launch many more of these. For instance, a new ‘Rebel Ice’ flavour was launched in 2019 by Twisp (Proprietary) Limited, a South African e-cigarette brand.
Considered in the Report
- Geography: Global
- Historic Year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
| Market Segmentation | Details |
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| By Flavor |
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