E-Cigarette Market Share, Size, Trends, Growth Opportunities, and Forecast 2023-2028

ByRavinder Ahlawat
E-Cigarette Market Overview

The latest report published by IMARC Group, titled “E-Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on E-Cigarette market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global e-cigarette market size reached US$ 21.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.

E-Cigarette Market Overview:

An E-Cigarette, or electronic cigarette, is a handheld battery-powered vaporizer that simulates the feeling of smoking, without burning tobacco. The device heats a liquid solution, often containing nicotine, into an aerosol that the user inhales. It facilitates evaporation of the liquid through controlled heating, thereby converting it into a vapor that delivers nicotine or other substances. E-Cigarettes are characterized by their ability to offer an experience similar to traditional smoking but generally without the tar and other carcinogens found in tobacco smoke. Designed with various components including a heating element, a cartridge containing the e-liquid, a power source, and a mouthpiece, they provide an alternative for those looking to reduce or quit smoking.

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E-Cigarette Market Trends:

The global market is primarily driven by the increasing awareness about the harmful effects of traditional smoking and the need for healthier alternatives. In line with this, the widespread availability of varied and affordable options for E-Cigarettes is also providing an impetus to the market. Moreover, the considerable rise in educational initiatives around smoking cessation and harm reduction is acting as a significant growth-inducing factor for the market. In addition to this, the expanding number of smoking population seeking alternatives and the cultural shift towards more acceptable social norms regarding vaping are resulting in higher investment in the industry. The market is further driven by the implementation of regulations favoring E-Cigarettes over traditional tobacco products. Apart from this, easy product availability across online and offline retail channels is propelling the market.

E-Cigarette Market Segmentation:

Competitive Landscape:

  • Philip Morris International Inc.
  • Altria Group Inc.
  • British American Tobacco PLC
  • Japan Tobacco, Inc.
  • Imperial Tobacco Group
  • International Vapor Group
  • Nicotek LLC
  • NJOY Inc.
  • Reynolds American Inc.
  • ITC Limited
  • J WELL France

Product Insights:

  • Modular E-Cigarette
  • Rechargeable E-Cigarette
  • Next-Generation E-Cigarette
  • Disposable E-Cigarette

Flavor Insights:

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

Mode of Operation Insights:

  • Automatic E-Cigarette
  • Manual E-Cigarette

Distribution Channel Insights:

  • Speciality E-Cig Shops
  • Online
  • Supermarkets and Hypermarkets
  • Tobacconist
  • Others

Regional Insights:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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