E-Cigarette Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F Segmented By Product Type (Disposable, Rechargeable, Modular), By Flavor (Tobacco Vs. Non-Tobacco (Fruit, Desserts, Others)), By Distribution Channel (Specialty Stores, Tobacconist, Online, and Others), By Region, By Company

According to the Centers for Disease Control and Prevention (CDC), disposable e-cigarette devices were the most popular among young people who currently used them (55.3%), followed by prefilled or refillable pods or cartridges (25.2%), and tanks or mod systems (6.7%).

Disposable e-cigarettes are ready-to-vape products made to be thrown away after the e-liquid is finished. Disposable e-cigarettes are considered a secure substitute for rechargeable e-cigarettes, and the market is expected to rise throughout the forecast period. The demand for e-cigarettes is also expected to expand due to young adults and teenagers being more accepting of various vaping gadgets. Furthermore, the majority of individuals in the world view vaping and e-cigarettes as healthier alternatives to traditional smokes. The business is expanding because e-cigarettes are more affordable than regular cigarettes.

The market for e-cigarettes is expanding as more smokers become aware of the health risks associated with smoking traditional tobacco cigarettes. Traditional tobacco cigarettes release harmful substances that are harmful for a person's health. E-cigarettes are safer and less hazardous than traditional tobacco cigarettes in order to cater such changes in the market many companies are launching products which replaces the conventional coils. For instance, the British American Tobacco company (BAT) released the Vype iSwitch and Vype iSwitch Maxx e-cigarettes which is based on Puretech blade technology. The innovative vaping technology found in the new Vype e-cigarettes iSwitch and iSwitch Maxx replaces the conventional coil and wick heating method. With over 99% less toxicants than previous vaping technologies, Vype Puretech produces a vape that is more satisfying, and smoother. . The iSwitch Maxx, which enables Bluetooth, provides the most "connected" vaping experience among the Vype products.

Global demand for these products has surged due to consumer readiness to give up tobacco use and the view of e-cigarettes as a safer alternative to conventional cigarettes. Accordingly, manufacturers are releasing modular e-cigarettes that offer various nicotine concentrations and enable users to refill the cartridge.

The major participants in the e-cigarette market are offering these products online via different e-commerce platforms such as Amazon, etc. Thus, e-commerce websites are also helpful in boosting the global e-cigarette market during the forecast period.

To capitalize on the rising demand for vape devices, many businesses use marketing strategies and offer their products online. For instance, MyVapery/Xyfil, a British company, provides flavored nicotine e-liquids in bottles with freehand sanitizers. Most of the companies have invested in e-cigarettes because they are believed to be a successful tobacco substitute.

The e-cigarette market is highly competitive due to the numerous local, domestic, and foreign businesses. As a result, there is strong competition among the competitors. The most popular market players' strategies include product development and innovation. Major players are implementing different techniques to catch consumers' attention by releasing products with new technical developments in response to the growing number of health-conscious consumers throughout the world. The concentration of firms is growing, and businesses are spending more money on advertising. Therefore, the adopting market strategies by the companies drives the market for e-cigarettes globally during the forecast period.

Download Free Sample ReportRising Popularity Among Younger Population Fuels the Market Growth

In 2022,

Innovative Product Launches Fuels the Market Growth

Companies are launching new products for consumers as the demand for these products is rising rapidly, further prompting companies to expand their product portfolios to cater to consumer demand. For instance, RELX International enters the disposable market with the RELX x BubbleMon and WAKA Mini devices. Devices made by RELX x BubbleMon have a transparent oil cabinet that shows how much e-liquid is still inside. The device comes with 600 puffs and ten flavors, including Strawberry Watermelon, Berry Ice, Raspberry Grape, Lychee Mango, and Bluecurrant. WAKA Mini immediately captures the eye with a modern, all-white bottle covered in a typical crystal-effect case that exudes premium quality and an instantly recognizable design aesthetic. In comparison, the 700-puff WAKA Mini comes in five enticing flavorsCherry Bomb, Triple Berry, Watermelon Chill, Mango Orange, and Peach Apple. Therefore, launching new products by the companies helps boost the global e-cigarette market growth.

Shifting Consumer Preferences Toward Flavored E-Cigarettes Drives the Market Growth

the Federal Trade Commission (FTC) survey discovered that menthol flavoring saw a considerable surge in sales, accounting for 63.5% of all cartridges sold in 2020.

Market Segmentation

Company Profile

Njoy Inc., Philip Morris International Inc., Japan Tobacco Inc., Reynolds American Inc., International Vapor Group (IVG), British American Tobacco p.l.c., Juul Labs Inc., J Well France, Nicotek, LLC, Shenzhen Kanger Technology Co.,Ltd., Ltd. are the major players that lead the global e-cigarettes market.