E-Cigarette Market Size, Share, Industry, Forecast and outlook (2023-2030)

The E-Cigarette is the electronic medium or device that helps in smoking tobacco. The device has a battery, atomizer, and a container to store the tobacco. Thus deice enables the smoker to inhale the "vaping" using this device instead of traditional smoking. The e-cigarette has a heating element that atomizes a liquid solution called e-liquid by pressing a button on the device. The e-liquid is a mixture of food-grade flavoring, water, vegetable glycerin (VG), propylene glycol (PG), a choice of nicotine levels These e-cigarettes are reusable and have fewer health effects as compare to traditional smoking.

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Market Dynamics

There is a rise in the launch of new innovative technology e-cigarettes with the highest battery power for atomizing and smoking. Furthermore, many companies are planning to invest in e-cigarettes in developing countries. For instance, on 30th Jan 2019, Juul, the leading E-cigarette company, has planned to launch its products in India.The market is driven by the rising demand for e-cigarettes with growing health awareness, a surge in the number of vape shops and stores with advanced technology devices adoption. The E-Cigarette is being consumed mostly by the middle-aged and high educated person who has good economic conditions.

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Segment Analysis

The global E-Cigarette market is segmented based on product type, composition, distribution channel, and region.The global E-Cigarette market is bifurcated into Vape Mod, T-Vapor, Rechargeable, Disposable, Vaporizer, and Cig-a-like in terms of product type. Among these, Vape Mod has the highest share due to an increase in the demand for smokers' socio-economic distribution with e-cigarettes. As per the Action on Smoking & Health (ASH), e-cigarettes have the highest prevalence in Great Britain, which was increased in 2012 from 700000 to 3.6 million people in 2019. This Vape mod has several e-cigarette users.

Competitive Landscape

The global E-Cigarette market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Japan Tobacco Inc., Imperial Brands PLC, NJOY LLC, Turning Point Brands, Vapor Hub International, FIN Branding Group, Shenzhen iSmoka Electronics Co., Shenzhen IVPS Technology Corporation Ltd., Innokin Technology Co. Ltd, JUUL Labs Inc., Philip Morris International, British American Tobacco are the leading market players with significant market share.

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