E-Cigarette Market Size, Share, Analysis, Growth Statistics, Trends and Forecast 2031 | Altria Group, British American Tobacco, Imperial Brands

The global e-cigarette market valued at ~US$ 18,907 million in 2020 and will reach US$ 98956 million by 2030. The market forecasts to register a compound annual growth rate (CAGR) of 18 % during the forecast period from 2021-2030.

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An electronic cigarette contains nicotine to provide a similar experience as the traditional tobacco-containing cigarettes. These cigarettes are made up of batteries, atomizers, and inhalers to provide an alternative to conventional cigarettes. Moreover, e-cigarettes are considered less harmful as they are smoke-free and reduce health-related problems.

Factors Influencing

The growing awareness regarding the harmful effects of conventional cigarettes is the primary factor driving the global e-cigarette market growth. As people are getting more aware of the harmful effects of tobacco-based products, the demand for e-cigarettes is rising. Traditional methods of smoking can cause severe diseases, such as cancer. E-cigarettes eliminate the risk of cancer. Thus, such beneficial and risk-free aspects are projected to bolster the growth of the global e-cigarette market during the forecast period.

Rapidly changing lifestyles and preferences and technological innovations are propelling the adoption of the e-cigarette. Prominent players in the industry are rapidly figuring out innovative ways to develop new flavors. Thus, it would increase consumer interest in the product and grow the global e-cigarette market ultimately.

On the contrary, strict rules and regulations pertaining to manufacturing activities, growing health concerns, and other incidents related to an e-cigarette, forecasts to slow down the growth of the global e-cigarette market.

Geographic Analysis

Regionally, North America is holding the maximum share in the global e-cigarette market and is expected to present the same contribution during the analysis period. Moreover, rapidly growing technological advancements and high disposable income would increase the adoption of e-cigarettes in the countries such as the U.S. and Canada. Apart from that, the Asia-Pacific region forecasts to witness the rapidly growing CAGR during the analysis period. The market is witnessing the growing adoption of e-cigarettes amongst youngsters. Thus, it would surge the growth of the Asia-pacific market for e-cigarette during the forecast's time frame.

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COVID-19 Impact Analysis

Regular smoking can cause severe disease. The sudden onset of the COVID-19 infection severely declined the adoption of conventional and e-cigarette. As smoking already causes hazardous effects, COVID-19 infection may further impact the immunity of the person. As a result, people avoided smoking during the pandemic. Moreover, several studies indicate that people who smoke are five times more likely to get affected by the infection. Thus, such studies declined the adoption of e-cigarettes during the pandemic period.

Market Segmentation

By Product Type

Disposable
Rechargeable
Modular

By Flavor

Tobacco
Botanical
Fruit
Sweet
Beverage
Others

By Distribution Channel

Specialist E-cig Shops
Online
Supermarkets
Tobacconist
Others

By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe

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Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Competitors in the Market

Altria Group
British American Tobacco
Imperial Brands
International Vapor Group
Japan Tobacco
Nicotek Llc
Njoy Inc.
Philip Morris International Inc.
Reynolds American Inc.
Vmr Flavours Llc
Other Prominent Players

What is the goal of the report?

-The market report presents the estimated size of the ICT market at the end of the forecast --period.

-The report also examines historical and current market sizes.

-During the forecast period, the report analyzes the growth rate, market size, and market valuation.

-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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This release was published on openPR.