E-Cigarette Market Share, Size, Growth & Forecast 2028
The Global E-Cigarette Market is expected to grow at a high CAGR of 23.8% during the forecasting period (2021-2028).
(EMAILWIRE.COM, August 30, 2021 ) Market Overview
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, and cannabis. These e-cigarettes are reusable and have fewer health effects as compare to traditional smoking.
Market Dynamics:
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. The Truth Initiative Organization study in 2019 found that around 43% of middle and high school students have been used e-cigarettes for smoking. Thus, e-cigarette consumption is increasing at 7.6% in 2018 compared to 5.2% in 2017. According to Japan Tobacco International (JTI), in 2014 e-cigarette market was valued at USD 6.8 billion in 2014 and increased to around USD 15.6 billion in 2018.
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.
Segment Analysis
By Product Type
• Vape Mod for the E-Cigarette industry
• T-Vapor
• Rechargeable
By Composition Type
• Nicotine for the E-cigarette industry
• Non-nicotine
By Distribution Channel
• Tobacconist
• Online
• Vape Shops
Geographical Presentation
By region, the global E-Cigarette market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, The North American region is dominated by E-Cigarette market growth due to the growing demand for smokers with high and middle-class families. Furthermore, the increasing advanced technology adoption for the E-cigarettes with rising global demand in this region shall boost the E-Cigarette demand over the forecasted period followed by Europe. According to the Tobacco Control Research Group and the University of BATH, in the United States, the E-cigarette market was valued at USD 2.6 billion in 2014 to USD 6.8 billion, whereas in Europe market for E-cigarette was estimated to around USD 5.2 billion. Furthermore, the e-cigarette has the highest taxation rates owing to a rise in the adoption of e-cigarettes among people. According to the Russian Treasury reports, revenue from taxes on liquids for e-cigarettes increased from 85 million rubles in 2017 to 152 million rubles in 2018.
The Asia Pacific is also the fastest-growing market for e-cigarette, with a value of nearly USD 1.4 billion as per a study report by the Tobacco Control Research Group and the University of BATH in 2018.
Competitive Analysis
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.
Companies are entering into collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on 20th December 2018, Altria, the leading tobacco provider company, purchased around 35% stake from JUUL’s e-cigarette company at around USD 38 billion.
Related Topic's
Cigarette Filters Market, Tobacco Market, Tobacco Testing Market, Smoking Cessation and Nicotine De-Addiction Therapeutics Market,
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, and cannabis. These e-cigarettes are reusable and have fewer health effects as compare to traditional smoking.
Market Dynamics:
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. The Truth Initiative Organization study in 2019 found that around 43% of middle and high school students have been used e-cigarettes for smoking. Thus, e-cigarette consumption is increasing at 7.6% in 2018 compared to 5.2% in 2017. According to Japan Tobacco International (JTI), in 2014 e-cigarette market was valued at USD 6.8 billion in 2014 and increased to around USD 15.6 billion in 2018.
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.
Segment Analysis
By Product Type
• Vape Mod for the E-Cigarette industry
• T-Vapor
• Rechargeable
By Composition Type
• Nicotine for the E-cigarette industry
• Non-nicotine
By Distribution Channel
• Tobacconist
• Online
• Vape Shops
Geographical Presentation
By region, the global E-Cigarette market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, The North American region is dominated by E-Cigarette market growth due to the growing demand for smokers with high and middle-class families. Furthermore, the increasing advanced technology adoption for the E-cigarettes with rising global demand in this region shall boost the E-Cigarette demand over the forecasted period followed by Europe. According to the Tobacco Control Research Group and the University of BATH, in the United States, the E-cigarette market was valued at USD 2.6 billion in 2014 to USD 6.8 billion, whereas in Europe market for E-cigarette was estimated to around USD 5.2 billion. Furthermore, the e-cigarette has the highest taxation rates owing to a rise in the adoption of e-cigarettes among people. According to the Russian Treasury reports, revenue from taxes on liquids for e-cigarettes increased from 85 million rubles in 2017 to 152 million rubles in 2018.
The Asia Pacific is also the fastest-growing market for e-cigarette, with a value of nearly USD 1.4 billion as per a study report by the Tobacco Control Research Group and the University of BATH in 2018.
Competitive Analysis
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.
Companies are entering into collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on 20th December 2018, Altria, the leading tobacco provider company, purchased around 35% stake from JUUL’s e-cigarette company at around USD 38 billion.
Related Topic's
Cigarette Filters Market, Tobacco Market, Tobacco Testing Market, Smoking Cessation and Nicotine De-Addiction Therapeutics Market,
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results