Austin, Feb. 21, 2023 (GLOBE NEWSWIRE) -- According to Beyond Market Insights, the Electronic Cigarettes/E-Cigarette market size was worth USD 22.17 billion in 2022 and is estimated to grow to USD 168.96 billion by 2030, with a CAGR of 28.9 percent over the forecast period from 2023 to 2030.
Electronic Cigarettes (E-Cigarettes) are gaining popularity as more people become aware of the negative effects of traditional tobacco-based cigarettes, particularly among young adults and adolescents. E-cigarettes have been regarded as a viable replacement for regular cigarettes because of various advantages, including zero smoke, no pollution, fewer health-related issues, and the ability to smoke in public places. Higher nicotine dependence, increased e-cigarette use, insufficient online age verification, and a variety of other issues are all driving up demand for e-cigarette goods. As a result of numerous studies carried out by medical institutions and associations, there is now a greater understanding that e-cigarettes are safer than traditional cigarettes, especially among younger people. This is expected to fuel market expansion even more.
Read 205 pages market research report detail, "E-Cigarette Market Size, Share & Trends Analysis Report by Product Type, By Battery Mode, By Distribution Channel, By Key Players, By Region, And Segment Forecasts, 2023 - 2030", published by Beyond Market Insights.
Demand for the device is also anticipated to increase because the producers provide customization features like temperature control and nicotine dosing. Additionally, it is anticipated that players' ongoing improvements in new product development will hasten market expansion. Due to improved battery life and a wider selection of flavors, the e-cigarette and vape market has expanded dramatically in recent years. Additionally, a sizable number of customers are drawn to the market by the variety of tastes available, including menthol, tobacco, fruits and nuts, and chocolate.
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Key Companies in the e-cigarette market include in the report:
- Altria Group
- British American Tobacco
- Imperial Brands
- International Vapor Group
- Japan Tobacco
- NicotekLlc
- Njoy Inc
- Philip Morris International Inc
- Reynolds American Inc
- VMR Flavors LLC.
Recent Development:
- June 2022: Supreme has agreed to pay GBP 14.75 million to acquire the vaping brand Liberty Flights Holdings. GBP 7.75 million in upfront consideration, GBP 2 million in deferred consideration, and up to GBP 5 million in performance-related earn-out payments will be paid as part of the acquisition.
The global e-cigarette market has been segmented into product type, battery mode, distribution channel, and region.
- Based on product type, the completely disposable model, rechargeable but disposable cartomizer, and personalized vaporizer are segments of the global E-cigarette market. The rechargeable but disposable cartomizer segment held the largest market share in 2021.
- Based on battery mode, the e-cigarette market is segmented into automatic e-cigarettes and manual e-cigarettes. In 2021, the automatic e-cigarette sector held the most market share. E-cigarettes are available in retail venues such as vape shops and gas stations.
- Based on distribution, the market is classified into offline retail and online retail. The offline segment dominated the market in 2021.
The Global E-cigarette Market is segmented as follows:
- By Product Type Outlook (Revenue, USD Million, 2017 - 2030)
- Completely Disposable Model
- Rechargeable but Disposable Cartomizer
- Personalized Vaporizer
- By Battery Mode Outlook (Revenue, USD Million, 2017 - 2030)
- Automatic E-cigarette
- Manual E-cigarette
- By Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Offline Retail
- Online Retail
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The e-cigarette market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
- In 2021, North America accounted for the majority of the e-cigarette market share. North America dominated the global industry in 2022 and accounted for the maximum share of more than 44.10% of the overall revenue. The growing number of young people using these items has increased demand. In the United States, for example, the young demographic is the largest e-cigarette consumer segment. The Centers for Disease Control and Prevention (CDC) stated in 2021 that 2.06 million middle and high school students in the United States smoked e-cigarettes over a 30-day period, including 2.8% of middle school students and 11.3% of high school students. E-cigarettes account for a sizable portion of the tobacco products market. Currently, over 3,000 e-cigarette flavors are available in the US market, with new tastes being released regularly.
| E-Cigarette Market Report Scope | |
| Report Attribute | Details |
| Market Size Value in 2022 | USD 22.17 billion |
| Revenue Forecast in 2030 | USD 168.96 billion |
| Growth Rate | CAGR of 28.9 % from 2023 to 2030 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 - 2022 |
| Forecast Years | 2023 - 2030 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2030 |
| Report Coverage | Revenue forecast, company ranking, Trends competitive landscape, and growth factors |
| Segments Covered | Product Type, Battery Mode, Distribution Channel, and Region |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key Companies Profiled | Altria Group, British American Tobacco, Imperial Brands, International Vapor Group, Japan Tobacco, NicotekLlc, Njoy Inc., Philip Morris International Inc., Reynolds American Inc., and VMR Flavors LLC. |
| Download PDF Brochure | |
This report addresses:
- Market Intelligence to Help Influential Decision Making
- Market Assessments and Forecasts From 2017 To 2030
- Growth Prospects and Trend Analysis
- Segment and Regional Revenue Forecasts for Market Examination
- Competition Strategy and Market Share Analysis
- Product Innovation Listing for You to Stay Ahead of The Curve
- COVID-19's Impact and How to Sustain in These Fast-Evolving Markets
- A Market Report in PDF, Excel, PPT, & Online Dashboard Versions
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