The global e-cigarette market is expected to reach US$84.43 billion in 2025, progressing at a CAGR of 17.65%, over the period 2021-2025. Growth in the e-cigarette market has accrued due to the changing consumer perception towards combustible cigarettes, upsurge in working population, decline in consumption of cigarettes, mounting-up prices of tobacco cigarettes and peer influence on youngsters. The market is anticipated to experience certain trends like upswing in Gen Z income, emergence of flavored e-cigarettes, increasing influence of social media and rise in technological developments by e-cigarette manufacturers. However, the growth of the market would be challenged by stringent regulations, nicotine exposure in e-cigarettes and surging concerns over side effects of e-cigarettes and vapor products.
The global e-cigarette market has been categorized on the basis of segment, composition and distribution channel. According to segment, the market can be bifurcated into vape and Heat Not Burn (HNB) products. In terms of composition, the global market can be split into nicotine and non-nicotine. Whereas, on the basis of distribution channel, the market is divided into tobacconist, online, vape shops and others such as hypermarket/supermarket.
The fastest growing regional market is the U.S. due to increasing awareness of safer tobacco alternatives, continuous efforts of anti-smoking organizations shifting the tobacco consumers to alternative forms i.e., e-cigarettes and increased customer acceptance due to cost-efficiency of these devices. Further, the sudden outbreak of COVID-19 is causing an adverse disruption on the overall economy through halted production and logistics activities, affecting the demand and supply of e-cigarettes across the world.
Scope of the report:
• The report provides a comprehensive analysis of the global e-cigarette market with potential impact of COVID-19.
• The major markets (the U.S., Europe, China and Japan) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Imperial Brands PLC, British American Tobacco PLC, Philip Morris International Inc., Altria Group, Inc., Japan Tobacco Inc. and Turning Point Brands, Inc.) are also presented in detail.
Key Target Audience:
• E-Cigarette Manufacturers
• Raw Material/Component Suppliers
• End Users
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities