New York, United States , April 22, 2024 (GLOBE NEWSWIRE) -- The Global E-Cigarette Market Size is to Grow from USD 22.5 Billion in 2023 to USD 37.7 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.3% during the projected period.
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A typical cigarette with tobacco that is in electronic form is called an electronic cigarette, or e-cigarette. Vapor pens, commonly called e-cigarettes, are gadgets that heat an aerosol that contains a specific liquid using a battery. After that, the completed product is smoked using an inhaler. Unlike conventional water vapor cigarettes, e-cigarette cartridges incorporate a liquid that has a negligible quantity of nicotine. E-cigarettes also contain flavorings, propylene glycol, and more ingredients. When the device is turned on, the heating element vaporizes the e-liquid, creating an inhalable mist. Because the nicotine dosage in E-liquids varies, users can select nicotine levels that fit their preferences or gradually reduce their nicotine intake. The surge toward e-cigarette use is influenced by the notion that they are a safer alternative to regular cigarettes. This expanding impression is causing more customers to switch, which raises the demand for products related to e-cigarettes. Moreover, E-cigarettes emit vapor, or aerosol, rather than smoke. In general, this aerosol contains fewer toxic substances than the smoke from burning tobacco in traditional cigarettes. The fewer hazardous chemicals present will appeal to those seeking a less risky alternative. However, the sale of e-liquids and other vaping supplies has been restricted by local governments in several nations, including the US and India, which has hampered the market's expansion.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global E-Cigarette Market Size, Share, and COVID-19 Impact Analysis, By Product (Disposable, Rechargeable, Modular), By Flavor (Tobacco, Botanical, Fruit, Sweet, Beverage, and Others), By Distribution Channel (Specialty E-Cig Shops, Online, Supermarkets, and Hypermarkets, Tobacconist, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The rechargeable segment is anticipated to hold the greatest share of the global e-cigarette market during the projected timeframe.
Based on the product, the global e-cigarette market is divided into disposable, rechargeable, and modular. Among these, the rechargeable segment is anticipated to hold the greatest share of the global e-cigarette market during the projected timeframe. Rechargeable gadgets are expected to become more and more popular due to their affordability and potential to do away with the need for ongoing supply purchases, such as cartridges.
The tobacco segment is anticipated to grow at the fastest pace in the global E-cigarette market during the projected timeframe.
Based on the flavor, the global e-cigarette market is divided into tobacco, botanical, fruit, sweet, beverage, and others. Among these, the tobacco segment is anticipated to grow at the fastest pace in the global e-cigarette market during the projected timeframe. this is because many individuals who convert from traditional smoking to e-cigarettes are accustomed to the flavor of tobacco.
The specialty e-cig shops segment is predicted to grow at the highest pace in the e-cigarette market during the estimated period.
Based on the distribution channel, the global e-cigarette market is divided into specialty e-cig shops, online, supermarkets and hypermarkets, tobacconists, and others. Among these, the specialty e-cig shops segment is predicted to grow at the highest pace in the e-cigarette market during the estimated period. Specialty e-cigarette store staff are knowledgeable individuals who understand the subtle differences between e-liquids, e-cigarettes, and vaping accessories. Their expertise allows them to provide clients with accurate information, recommendations, and troubleshooting assistance.
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North America is expected to hold the largest share of the global e-cigarette market over the forecast period.
North America is expected to hold the largest share of the global e-cigarette market over the forecast period. This region made a substantial contribution to the development and innovation of e-cigarette products and technology, providing a strong foundation for the market's growth. Furthermore, North America's generally balanced regulatory environment makes it possible for e-cigarette goods to be sold and distributed lawfully. This regulatory stability has produced an environment that is conducive to commercial expansion.
Europe is predicted to grow at the fastest pace in the global e-cigarette market during the projected timeframe. This is because European regulations regarding the manufacture, sale, and use of electronic cigarettes are more permissive than those in other continents. For instance, sales of e-cigarette tanks with a capacity larger than 2 ml and a nicotine level lower than 20 mg/ml are legally forbidden, even though e-vapor products are allowed.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global e-cigarette market include J WELL France, Altria Group Inc., British American Tobacco PLC, Nicotek LLC, Reynolds American Inc., Japan Tobacco, Inc., Imperial Tobacco Group, International Vapor Group, NJOY Inc., ITC Limited, Philip Morris International Inc., and Others.
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Recent Developments
- In February 2023, Philip Morris International (PMI) released VEEBA, a high-end, environmentally friendly, and socially conscious disposable e-vapor gadget, into the UK market. It is meant to be used by adult smokers and adult nicotine users who are searching for a more effective way to quit smoking.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global e-cigarette market based on the below-mentioned segments:
Global E-Cigarette Market, By Product
- Disposable
- Rechargeable
- Modular
Global E-Cigarette Market, By Flavor
- Tobacco
- Botanical
- Fruit
- Sweet
- Beverage
- Others
Global E-Cigarette Market, By Distribution Channel
- Specialty E-Cig Shops
- Online
- Supermarkets and Hypermarkets
- Tobacconist
- Others
Global E-Cigarette Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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