A $20+ Billion Industry in 2021 - Impact Analysis of COVID-19 and Forecasts up to 2027
In 2021, the global e-cigarette market was valued at US$20.40 billion, and is probable to reach US$54.10 billion by 2027
The e-cigarette market is projected to grow at a CAGR of 17.65%, during the forecast period of 2022-2027.
E-cigarettes are battery-powered devices that are considered less toxic than traditional cigarettes. Also known as e-cigs, e-vaping devices, vape pens and electronic cigarettes, these cigarettes consist of three main components, namely, a heating coil, battery and an e-liquid cartridge. These components help in delivering dosages of vaporized nicotine or flavored solutions to the users.
Emergence of flavored e-cigarettes along with launch of economical HNB products, rising government initiatives to implement indoor smoking bans and escalating demand for different flavors & open vape systems by young population are some other factors that would propel the market growth for injectable in coming years.
While the US continues to be a prominent region of North America's e-cigarette market, accounting for the increasing awareness of safer tobacco alternatives and rising demand for smokeless vaping in the region. Availability of e-cigarettes in more than 4000 flavors and increased customer acceptance due to cost-efficiency of these devices were the major factors responsible for the growth of e-cigarettes in the US.
The report provides an in-depth analysis of the global e-cigarette market and covers the key market trends, drivers, and restraints. It also provides an analysis of the industry structure and the competitive landscape. Moreover, the report provides a comprehensive analysis of the impact of COVID-19 on the market. It also offers a detailed analysis of the historical and current market size and provides the forecast for the market size up to 2027.
The report segments the global e-cigarette market by product type, distribution channel, and region. On the basis of product type, the market is categorized into open systems, closed systems, and disposable e-cigarettes. The report also covers the market analysis for each product type and its sub-segments. On the basis of distribution channel, the market is segmented into offline and online channels.
By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report provides an analysis of the market size and share of each region along with the growth rate of the market in each region over the forecast period.
The report also covers the competitive landscape, which provides an overview of the key players in the market and their product offerings. The major players operating in the market are British American Tobacco, Imperial Brands, Japan Tobacco International, Philip Morris International, and Altria Group.
The report also offers insights into the regional market dynamics and the impact of the COVID-19 pandemic on the market. Moreover, it provides a detailed analysis of the trends and opportunities in the industry.
Overall, the report is an invaluable source of information for stakeholders looking to gain insights into the market and gain a competitive edge.
Post time: Mar-29-2023