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Global Sales & Share of E-Cigarette Market Expected to Reach USD 45 Billion by 2026: Facts & Factors

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Global Sales & Share of E-Cigarette Market Expected to Reach USD 45 Billion by 2026: Facts & Factors

July 13
17:52 2021
Global Sales & Share of E-Cigarette Market Expected to Reach USD 45 Billion by 2026: Facts & Factors
[193+ Pages Report] According to Facts and Factors Market Research, the global e-cigarette market in 2019 was approximately USD 14 billion. The market is expected to grow above a CAGR of 17% and is anticipated to reach over USD 45 billion by 2026.

According to the Facts and Factors Market Research, the global e-cigarette market in 2019 was approximately USD 14 billion. The market is expected to grow above a CAGR of 17% and is anticipated to reach over USD 45 billion by 2026.

Electronic cigarettes go by many names in the market such as vapes, mods, vape pens, e-cigs, tanks, etc. E-cigarette devices function based on the presence of a liquid in the device. The device consists of a heating element that evaporates the liquid for creating vapors. The liquid in the device, known as e-liquid, includes glycol, nicotine, flavors, etc. for creating aerosol after heating. The aerosol produced from an electronic cigarette is different from vapors and contains the aerosol from an e-cigarette consists of particulate matter. Old generation electronic cigarettes used freebase nicotine, however newly introduced electronic cigarettes in the market pre-filled systems and refillable systems. Commonly referred to types of electronic cigarettes are first-generation, second generation, and third generation. First-generation e-cigarettes resemble cigarettes and are disposable. Second-generation e-cigarettes are pen-shaped devices that can be recharged. Third-generation e-cigarettes are not similar to combustible cigarettes. These types of cigarettes have rechargeable batteries and are refillable and are known as mods.

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Industry Major Market Players

  • Philip Morris International Inc.
  • British American Tobacco p.l.c.
  • Altria Group Inc.
  • Japan Tobacco Inc.
  • Imperial Brands PLC
  • JUUL Labs Inc.
  • NJOY LLC
  • Turning Point Brands Inc.
  • Vapor Hub International Inc.
  • FIN Branding Group LLC
  • Shenzhen iSmoka Electronics Co. Ltd.
  • Shenzhen IVPS Technology Corporation Ltd.
  • Innokin Technology Co. Ltd
  • Shenzhen Kanger Technology Co. Ltd.

 

Report Overview

One of the key factors that have bolstered the rise in the increase in the number of tobacco smokers is the low cost of tobacco products. The same factor has also contributed to the growing preference for electronic cigarettes. Low cost and fewer negative effects on the health of electronic cigarettes have driven the global electronic cigarettes market. The increasing number of millennials who prefer tobacco smoking has also increased. The use of electronic cigarettes and cigarettes has become common among millennials. The demand for e-cigarettes among the young population has increased due to changes in the buying preferences of people aging 18-35. This has driven the e-cigarettes market. In addition, e-cigarettes companies are introducing new products that have new flavors and additives, which has been successful in attracting new customers. This has also created favorable conditions for the global e-cigarettes market. However, the lack of standardization and government regulations of the use and sales of e-cigarettes has hindered the e-cigarettes market growth.

On the basis of type, the rechargeable segment dominated the global e-cigarettes market in 2019, while accounting for a market share of nearly 45%. Rechargeable e-cigarettes can be used for a longer period of time as the batteries and the e-liquid present in the electronic cigarette can be changed. Rechargeable e-cigarettes are widely adopted by consumers due to the convenience offered by them. On the basis of flavor, the tobacco segment dominated the global e-cigarettes market in 2019. E-cigarettes are widely adopted because they contain tobacco and have a less negative impact on health. This has resulted in the wider adoption of tobacco-flavored e-cigarettes.

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The e-cigarette market research report delivers an acute valuation and taxonomy of the e-cigarette industry by practically splitting the market on the basis of different types, categories, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the e-cigarette industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the e-cigarette industry is provided for the leading economies of the world.

An E-cigarette commonly referred to as an electronic cigarette is a device that simulates smoking. Electronic cigarette consists of non-combustible tobacco. NHS England estimates that electronic cigarette is nearly 95% less harmful than smoking tobacco. The electronic cigarette has a heating element inside it which evaporates liquid present in the e-cigarette. The user inhales vapor created from the liquid by an electronic cigarette. Vapors of an electronic cigarette are made up of particulate matter. The liquid present in the electronic cigarette, known as e-liquid, possesses nicotine. E-liquid usually contains vapor products like glycol, nicotine, glycerin, additives, flavoring, etc. The composition of e-liquid may vary from brand to brand and device to device. Using an electronic cigarette is also referred to as vaping.

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On the basis of geography, Europe dominated the global e-cigarettes market in 2019. The growing popularity of e-cigarettes and vaping devices among young population in Europe has been a key growth fueling factor for the Europe e-cigarettes market.

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This report segments the e-cigarette market as follows:

Global E-Cigarette Market: By Product Type Segmentation Analysis

  • Disposable
  • Rechargeable
  • Modular

 

Global E-Cigarette Market: By Flavor Segmentation Analysis

  • Tobacco
  • Botanical
  • Fruit
  • Sweet
  • Beverage
  • Others

 

Global E-Cigarette Market: By Distribution Channel Segmentation Analysis

  • Specialist E-cig Shops
  • Online
  • Supermarkets
  • Tobacconist
  • Others

 

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