E-cigarette Market Overview 2021 – Innovation Can Light the Way for the E-Cigarette
The rapidly expanding global e-cigarette market size can be attributed to the marketing of e-cigarettes as a less harmful alternation to tar-burning cigarettes.
Dallas, United States – April 29, 2021 /MarketersMedia/ —
The global e-cigarette market size is expected to reach up to USD 48.9 billion by 2025. The growth of the market is expected to be majorly driven by the increasing demand for less harmful alternative to the conventional cigarettes among working professionals and the youth. The high consumption of electronic cigarette among teens and young adults is expected to be the primary driver of the market during the forecast period.
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E-cigarettes are devices powered by batteries which allow the user to inhale and exhale a liquid that is heated into an aerosol. This liquid usually contains nicotine, flavorings, propylene glycol, glycerin, and other chemicals. E-cigarettes come in a variety of shapes and some sizes and are often called by different name such as e-cigs, e-hookahs, mods, or vape pens. The market for e-cigarettes has developed at a rapid pace with the presence of a dynamic and diverse industry, providing a vast range of device through newly established production and distribution networks.
The global e-cigarette market trends accelerating its growth includes cheaper and safer availability of alternative to smoking. Furthermore, in addition to a wide range of electronic cigarette devices, the presence of an extensive range of flavors and nicotine concentrations in response to the evolving consumer tastes and preferences. The most notable among the e-cigarette market trends is the sector being primarily driven by young entrepreneurs, who have been able to anticipate and respond to the evolving needs of the customers. Hence, the combination of fast evolving manufacturers and the demonstrated consumer interest in e-cigarettes are expected to positively affect the e-cigarette market share. Europe E-Cigarette Market Share, by Type, 2017 (%)
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The global e-cigarette market segmented on the basis of type is, dominated by the modular type of e-cigarettes due to the option of customization that it offers to the users. Modular cigarettes are the most popular among the customers, garnering a market share around 60% in 2017, globally. The demand for modular e-cigarettes was the highest in North America, constituting almost 42% of the overall e-cigarette market share 2018. The high prevalence of modular users is attributed to the presence of specialist e-cigarette stores and the high proportion of customers preferring modular e-cigarettes as their first device.
The global e-cigarette market was dominated by North America and Europe, with sales generating around 70% of the overall market revenue. However, North America held the largest share in the global market, assisted by the U.S. e-cigarette market. The sales of e-cigarettes in America is the highest and the traditional big tobacco companies have shifted to manufacture of e-cigarettes. These e-cigarette market trends is expected to sustain the growth of the U.S. e-cigarette market during the forecast period.
The global e-cigarette market is fragmented with the presence of a large number of small and big players, both at the global and regional level. The primary market participants include British Altria Group Inc., Japan Tobacco Inc., American Tobacco plc, JUUL Labs, Inc., VMR Products LLC, NJOY Inc., Imperial Brands plc, Philip Morris International Inc., International Vapor Group, Vapor Hub International Inc., and FIN Branding Group LLC among others.
Key segments of the global e-cigarette market
Type Overview, 2015-2025 (USD million)
Modular
Disposable
Rechargeable
Regional Overview, 2015-2025 (USD million)
North America
S.
Canada
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
Korea
India
Southeast Asia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Mexico
Rest of South America
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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