September 28th, 2022
E-cigarette Market accounted for US$ 16.04 billion in 2020 and is estimated to be US$ 96.19billion by 2030 and is anticipated to register a CAGR of 19.8%. E-cigarette is a battery operating device that allows to inhale nicotine in a vapor rather than smoke. As E-cigarette do not burn or produce carbon. Regular tobacco cigarettes consists of 7,000 chemicals, which are toxic for the body. E-cigarette aims to provide the sensation of inhaling tobacco smoke, without smoke. E-cigarette comes in different shapes, such as USB drive, pens and also has various names including e-cigarettes, e-hookahs, vaporizer cigarettes, vapes, and vape pens.
The report " Global E-cigarette Market, By Composition Used (Tobacco, Flavors, and Nicotine-free), By Product (Completely Disposable Model, Rechargeable but Disposable Cartomizer, and Personalized Vaporizer), By Battery Mode (Automatic E-cigarette and Manual E-cigarette), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis and Forecast till 2029’’
· In October 2021, Food and Drug Administration authorized an electronic cigarette, saying the vaping device from R.J. Reynolds can help smokers cut back on conventional cigarettes.
· In September 2021, Chinese e-cig brand RELX has been launched in the Kingdom of Saudi Arabia, as e-cigarette use becomes more widespread across the nation.
Changing consumer preferences towards less harmful tobacco products over cigarette across the globe is a major factor expected to propel the growth of the global E-cigarette market over the forecast period. Furthermore, increasing investments in next-generation tobacco products by key players globally is a factor expected to boost the growth of the target market in the near future. However, stringent government regulations associated with the tobacco and advertising is a major factor expected to restrain growth of the global e-cigarette market over the forecast period.
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Key Market Insights from the report:
Global E-cigarette Market accounted for US$ 16.04 billion in 2020 and is estimated to be US$ 96.19 billion by 2030 and is anticipated to register a CAGR of 19.8%. Global E-cigarette Market is segmented into composition used, product, battery mode and region.
· Based on composition used, Global E-cigarette Market is segmented into Tobacco, flavors, and nicotine-free.
· Based on Product Global E-cigarette Market is segmented into completely disposable model, rechargeable but Disposable Cartomizer, and Personalized Vaporizer.
· Based on Battery the target market is segmented into Automatic E-cigarette and Manual E-cigarette.
· By Region, the Global E-cigarette Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global E-cigarette Market:
The key players in the Global E-cigarette Market includes Philip Morris International, Healthier Choices Management Corp (Ruthless Vapor Corp), MCIG Inc., ITC Limited, Altria Group Inc., British American Tobacco plc, Japan Tobacco, Inc., J WELL France, and Imperial Tobacco Group.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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