E-cigarette And Vape Market Worth $182.84 Billion By 2030

The global e-cigarette and vape market size is projected to reach USD 182.84 billion by 2030 with a CAGR of 30.0% from 2022 to 2030. The adoption of e-cigarettes is stimulated by the growing awareness of safer alternatives to tobacco consumption. As these cigarettes are relatively less toxic, the younger population group is consciously opting for e-cigarettes. Additionally, the availability of e-cigarettes in various e-liquid flavors and the advances in technology are allowing consumers to choose flavors and devices of their own choice.

The added customization features offered by the manufacturers and the vendors as nicotine concentrations and temperature control are projected to stimulate product demand. Moreover, the awareness about vaping being effective in quitting traditional smoking due to its less toxicity and release of vapor is also growing over time. The cost-effectiveness of advanced devices has enhanced consumer adoption, driving the market growth during the forecast period.

The COVID-19 pandemic has further pushed the market to adopt better market strategies like offering gift items such as hand sanitizers and facemasks to purchase vape products using digital platforms. The online platform segment is projected to derive a significant CAGR during the forecast period owing to the emergence of online vape shops that encouraged consumers to buy e-cigarettes online with smaller packaging attracting lower shipping rates.

 To request a sample copy or view summary of this report, "please" click the link below:

 https://www.millioninsights.com/industry-reports/global-e-cigarette-vape-market

E-cigarette and Vape Market Report Highlights

• Owing to the presence of prominent market players like Philip Morris International Inc. which holds the regional market’s significant share, North America registered the highest market revenue share in 2021

• The modular device segment is expected to become the fastest-growing segment over the forthcoming years as these are highly advanced devices with programmable functions like variable wattage control and temperature control

• Philip Morris International Inc. launched IQOS ILUMA in Japan in 2021 which is the first tobacco-heating system of the brand introducing the induction-heating technology which does not require compulsory cleaning and runs without a blade

E-cigarette and Vape Market Segments

E-cigarette and Vape Product Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)
    • Disposable
    • Rechargeable
    • Modular Devices

E-cigarette and Vape Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
    • Online
    • Retail
        • Convenience Store
        • Drug Store
        • Newsstand
        • Tobacconist Store
        • Specialty E-cigarette Store

E-cigarette and Vape Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • South Korea
        • Japan
    • Latin America
        • Brazil
    • MEA

List of Key Players in the E-cigarette and Vape Market
    • Altria Group, Inc.
    • British American Tobacco
    • Imperial Brands
    • International Vapor Group
    • Japan Tobacco Inc.
    • NicQuid
    • JUUL Labs, Inc.
    • Philip Morris International Inc.
    • R.J. Reynolds Vapor Company
    • Shenzhen IVPS Technology Co., Ltd.
    • Shenzhen KangerTech Technology Co., Ltd.