Global E-Cigarette Market Share Will Reach USD 45 Billion by 2026: Facts & Factors
According to the [190+ Pages] research report; the global E-Cigarette Market in 2019 was approximately USD 14 billion. The market is expected to grow at a CAGR of 17.0% and is anticipated to reach around USD 45 billion by 2026. Top market players are Philip Morris International Inc., Shenzhen IVPS Technology Corporation Ltd., NJOY LLC, Altria Group Inc., Shenzhen Kanger Technology Co. Ltd. and others.
New York, NY, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “E-Cigarette Market By Product Type (Disposable, Rechargeable, and Modular), Flavor (Tobacco, Botanical, Fruit, Sweet, Beverage, and Others), and Distribution Channel (Specialist E-cig Shops, Online, Supermarkets, Tobacconist, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global E-Cigarette Market was estimated at USD 14 billion in 2019 and is expected to reach USD 45 billion by 2026. The global E-Cigarette Market is expected to grow at a compound annual growth rate (CAGR) of 17% from 2019 to 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 contain 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 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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• 2020 Updated Report Introduction, Overview, and In-depth industry analysis
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• 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of table & figures
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
• Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Offerings:
Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
Competitive Landscape – Top key vendors and other prominent vendors
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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 less negative effect on the health of electronic cigarettes have driven the global electronic cigarettes market. The increasing number of millennial who prefers 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 change 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 use and sales of e-cigarettes has hindered the e-cigarettes market growth.
Top Market Players
Top key players operating in the market are Philip Morris International Inc., Shenzhen IVPS Technology Corporation Ltd., NJOY LLC, Altria Group Inc., Shenzhen Kanger Technology Co. Ltd., Innokin Technology Co. Ltd, British American Tobacco p.l.c., Imperial Brands PLC, JUUL Labs Inc., FIN Branding Group LLC, Turning Point Brands Inc., Vapor Hub International Inc., Japan Tobacco Inc., Shenzhen iSmoka Electronics Co. Ltd., and Others.
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E-Cigarette Market: Updated Analysis by Key Segments
On the basis of type, the rechargeable segment dominated the global e-cigarettes market in 2019, while accounting 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. 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.
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
Browse the full “E-Cigarette Market By Product Type (Disposable, Rechargeable, and Modular), Flavor (Tobacco, Botanical, Fruit, Sweet, Beverage, and Others), and Distribution Channel (Specialist E-cig Shops, Online, Supermarkets, Tobacconist, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/e-cigarette-market-by-product-type-disposable-rechargeable-1158
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 the 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. The 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 the liquid present in the e-cigarette. The user inhales vapor created from the liquid by electronic cigarettes. 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.
In recent years, the number of tobacco smokers has increased due to an increase in the population and easy availability and low cost of tobacco. Electronic cigarettes are mainly used by those who consume tobacco products. Adults who are planning to quit tobacco smoking look up to e-cigarette as a supplement. This consumer preference has driven the demand for the global e-cigarette market. Moreover, the introduction of new flavors and additives to the e-cigarette is attracting attracted new customers this widening customer base has also contributed to the growth of the global e-cigarette market. However, stringent mandates by government authorities on vaping and e-cigarette products have been a key challenge to the expansion of the e-cigarette market.
Also Read, E-Cigarette Market Press Release
E-Cigarette Market: Regional Analysis
On the basis of geography, Europe dominated the global e-cigarettes market in 2019. The growing popularity of e-cigarettes and vaping devices among the young population in Europe has been a key growth fueling factor for the Europe e-cigarettes market.
Key Insights from Primary Research
According to our primary research, the global e-cigarettes market is anticipated to grow at a CAGR of 17% over the forecasted period.
The growing millennial population and an increasing number of tobacco smokers have been a primary growth driving factor for the global e-cigarettes market.
On the basis of the product type, the rechargeable segment held a major share in the global e-cigarettes market in 2019. In terms of revenue, it accounted for an approximate 45% share of the total market in 2019.
Asia Pacific segment is expected to foresee the fastest growth over the projected period. The growth in the number of young population and changing lifestyles is expected to drive the Asia Pacific e-cigarettes market.
Our primary respondents estimated that the government regulation on sales of e-cigarettes is likely to hinder the market growth
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