E-Cigarette Market Report 2023-2028: Industry Growth Rate, Share By Brands, Size, and Forecast
According to the latest report by IMARC Group, titled “E-Cigarette
Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast
2023-2028,” the global e-cigarette market size reached US$ 21.8
Billion in 2022. Looking forward, IMARC Group expects the market
to reach US$ 31.9 Billion by 2028, exhibiting a growth rate
(CAGR) of 4.4% during 2023-2028. E-cigarettes represent
battery-powered devices that are deemed less toxic than traditional cigarettes.
Also referred to as e-vaping gadgets, e-cigs, vape pens, and electronic
cigarettes, these machines consist of three main components, such as, a
battery, a heating coil, and an e-liquid cartridge. These components assist in
delivering dosages of vaporized nicotine or flavored solutions to the users.
E-cigarettes are gaining immense popularity, especially among young adults and
adolescents, owing to the rising awareness toward the harmful effects of
traditional tobacco-based cigarettes. As a result, they are widely available
across the globe in multiple variants that differ on the basis of shapes and sizes.
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Industry Demand:
The willingness of consumers to quit smoking tobacco products and
their perception of e-vaping gadgets as a safer alternative to traditional
cigarettes have led to the increased demand for these devices, which is among
the primary factors driving the e-cigarette market. Besides this, the
introduction of new-generation vape pens by the leading manufacturers, which
offer various strengths of nicotine and allow the users to refill the
cartridge, is further augmenting the market growth. Moreover, the growing
popularity of tobacco heating systems that produce nicotine-containing emissions
without burning the tobacco is also catalyzing the global market. Apart from
this, the rising number of smokers across countries, the shifting lifestyle
preferences, and the inflating disposable income levels of the masses are
acting as significant growth-inducing factors. Furthermore, the emerging trend
of urbanization, the widespread availability of several flavors and fragrances,
such as tobacco, fruits, and botanicals, and the elevating utilization of
innovative and premium packaging solutions are expected to bolster the
e-cigarette market in the coming years.
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Key Market Segmentation:
Competitive Landscape with Key Players:
- Philip Morris
International Inc.
- Altria Group
- British American
Tobacco p.l.c.
- Japan Tobacco
Inc.
- Imperial Brands
PLC
- International
Vapor Group
- Nicotek, LLC
- NJOY, LLC
- Reynolds
American Inc
- VMR Products LLC
- MCIG Inc.
- ITC Limited
- J Well France
Breakup by Product:
- Modular
E-Cigarette
- Rechargeable
E-Cigarette
- Next-Generation
E-Cigarette
- Disposable
E-Cigarette
Breakup by Flavor:
- Tobacco
- Botanical
- Fruit
- Sweet
- Beverage
- Others
Breakup by Mode of Operation:
- Automatic
E-Cigarette
- Manual
E-Cigarette
Breakup by Distribution Channel:
- Specialist E-Cig
Shops
- Online
- Supermarkets and
Hypermarkets
- Tobacconist
- Others
Breakup by Region:
- North America
(United States, Canada)
- Europe (Germany,
France, United Kingdom, Italy, Spain, Others)
- Asia Pacific
(China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America
(Brazil, Mexico, Others)
- Middle East and
Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market
Performance
- Market Outlook
- Porter’s Five
Forces Analysis
- Market Drivers
and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive
Mapping of the Competitive Landscape
Note: If you need specific information that is not currently
within the scope of the report, we can provide it to you as a part of the
customization.
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analysis for biotechnology, advanced materials, pharmaceuticals, food and
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at the top of the company’s expertise.
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