According to the latest report by IMARC Group, titled “E-Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global e-cigarette market size reached a value of US$ 17 Billion in 2020. Looking forward, IMARC Group, the global e-cigarette market is expected to exhibit strong growth during 2021-2026. E-cigarettes, also known as e-cigs, e-vaping devices and vape pens, are battery-powered devices that are widely used as major substitutes for regular cigarettes, cigars and pipes. A liquid containing a mixture of nicotine, glycerin, propylene glycol, flavorings and chemicals is usually heated to produce an aerosol that is inhaled and exhaled by the user. This mist produced by these cigarettes is inhaled deep into the lungs of the users, which mimics the feeling of smoking. Comprising of a battery, e-liquid cartridge and a heating coil, e-cigarettes do not contain tobacco or other toxins and carcinogens or generate tar and carbon monoxide that are the leading causes of lung diseases and cancer among cigarette smokers. Consequently, e-cigarettes are considered to be a safer alternative to conventional cigarettes.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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Global E-Cigarette Market Trends:
The market is primarily driven by the growing number of smokers across the globe. However, there is a rising consciousness among smokers regarding the adverse effects associated with the usage of regular cigarettes, which has led them to shift to e-cigarettes as a safer alternative. Growing willingness among the masses to quit smoking tobacco products has consequently contributed to the bourgeoning sales of e-cigarettes. Product innovations, such as the launch of new-generation e-cigs, which offer flexibility to the users in terms of strength and refilling, is further driving the demand for e-cigarettes. The easy availability of mod and pod vapes has also influenced the market growth. Pod vapes are light in weight, compact and produce less vapor as compared to regular e-cigs. On the other hand, mod variants are larger in size and are characterized by higher vapor production. Moreover, the growing trend of Do-it-Yourself (DIY) e-liquid by combining various flavors as per the customization requirement of the users, along with the introduction of numerous flavored variants and easy product availability through online retail portals, is also creating a positive outlook for the market. Other factors, such as the rising number of female smokers, technological advancement and extensive research and development (R&D), are expected to drive the market further.
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Key Market Segmentation:
Competitive Landscape with Key Player:
- 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
Market Breakup by Product:
- Modular E-Cigarette
- Rechargeable E-Cigarette
- Next-Generation E-Cigarette
- Disposable E-Cigarette
Market Breakup by Flavor:
- Tobacco
- Botanical
- Fruit
- Sweet
- Beverage
- Others
Market Breakup by Mode of Operation:
- Automatic E-Cigarette
- Manual E-Cigarette
Market Breakup by Distribution Channel:
- Specialist E-Cig Shops
- Online
- Supermarkets and Hypermarkets
- Tobacconist
- Others
Market Breakup by Region:
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa.
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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