E-Cigarette Market To Reach USD 38,631.1 Million in 2030

The total size of the e-cigarette market was USD 17,901.1 million in 2022, and it will reach USD 38,631.1 million by 2030, advancing at a rate of 10.1% in the years to come, as per P&S Intelligence. The decrease in conventional cigarette smoking is a major driver, with consumers shifting toward safer alternatives, including electronic cigarettes.

The growing consciousness about the harmful effects of smoking conventional cigarettes is increasing across the world. This has given rise to the development of alternatives, helping consumers to give away traditional cigarettes.

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In addition, cancer triggered by smoking is one of the main concerns all over the world. E-cigarettes eliminate the risk of cancer and avert the intake of over 4,000 chemicals, such as tobacco and numerous other carcinogens and toxins, present in tobacco smoke and cause cancer and lung ailments. Moreover, they produce fewer toxic substances and pose less risk to smokers with asthmatic problems.

The vaporizer category dominated the industry, with around 50% share, in 2022, and it will maintain its dominance in the future as well. The increasing acceptance of vaporizers is because of their reasonable cost, production of dense aerosol, and flexibility with a variety of flavors. Whereas, T-vapors are primarily famous in South Korea and Japan, where individuals prefer tobacco flavor, because of their close similarity to conventional smoking.

Males led the e-cigarette market, with above 80% share, in 2022. With more males switching toward e-cigarettes as a smoking-cessation substitute, males will continue ruling the industry in the years to come.

The online distribution channel will record the highest rate, around 13%, in the coming years. People are more tempted for buying vape products and e-cigarettes online because of the features of convenience, cost analysis, and access to a greater selection of goods.

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The 16-24 age category held the highest revenue, of around USD 5 billion, in 2022, and will retain its position in the years to come. E-cigarette, including the JUUL device, is popular among the youth and have become an immediate hit in the 16-24 age group.

Furthermore, they do not stink strongly as conventional cigarettes, making it simpler for people to use them. Even non-smoking teens who would not try cigarettes might be tempted by JUUL and other renowned vape brands' tempting flavors and packaging. A trending idea is that vaping is less injurious and is simple for youth for purchasing vaping equipment through online mode.

Europe accounted for the largest share of the industry, owing to the occurrence of a large consumer count. Furthermore, with a drop in the habit of conventional smoking, the consumer base will shift toward electronic variants in the years to come.

With the fall in the rate of conventional cigarette smoking, the demand for e-cigarettes will increase all over the world.

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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

This release was published on openPR.