Published Date: April 2024
E-cigarette and Vape are electronic device used as a substitute for smoking or for recreational purposes. E-cigarette are battery powered devices which converts liquid nicotine into vapor and then inhaled by users, it contains atomizer, nicotine cartridge, vaporizing chamber, LED indicator, rechargeable battery and heating coil.
Growing health concern over use of conventional tobacco-based cigarettes has driven the target market growth. Rising adoption of e-cigarette and vape products has created lucrative opportunities for reusable, disposable and customizable e-cigarettes. Presence of major key players in new launch innovative products with various flavors and innovative technology is expected to fruitful the demand for E-cigarette and Vape market growth in coming years. For instance, vaping company Kwit Stick launched new micro USB-recharging vaporizing pen with starter kit containing charging cable, pen device, four flavor pods and syringe bottle to refill.
The report “E-cigarette and Vape Market, By Product (Modular Devices, Rechargeable, Disposable), By Component (Vape Mod, Atomizer, E-Liquid, Cartomizer, and Others), By Distribution Channel (Online, Retail, Supermarkets, Convenient Stores and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”
Key Highlights:
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In November 2022, Imperial launched new disposable vape range under the Blu brand. New launched range is made up of collection of compact pocket-sized vapes containing 20mg nicotine, 2ml nicotine, up to 600 puffs. New launched vape product are featured with LED indicator which light ups in use and available in flavor such as banana, mango, watermelon, strawberry and peach.
- In 2017, British American Tobacco’s Vype, a flagship vapour brand is now present in most of the major vaping markets including the UK. Moreover, in 2017, the company’s vapour products portfolio was strengthened with the acquisition of the ViP brand.
Analyst View:
The key factor driving the growth of the E-cigarette and Vape Market is growing popularity of e-cigarettes among youngsters. Rapid expansion of vape shops in country especially UK, U.S., and Europe has further facilitated the target market growth. Low cost compare to traditional cigarettes, acquisitions, strategic agreements and development of new innovative products with various flavors by manufacturers is expected to boost the demand for E-cigarette and Vape Market growth over the forecast period. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “E-cigarette and Vape Market, By Product (Modular Devices, Rechargeable, Disposable), By Component (Vape Mod, Atomizer, E-Liquid, Cartomizer, and Others), By Distribution Channel (Online, Retail, Supermarkets, Convenient Stores and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”
Key Market Insights from the report:
E-cigarette and Vape Market accounted for US$ 38.2 Billion in 2024 and is estimated to be US$ 447 Billion by 2034 and is anticipated to register a CAGR of 31.00%. The E-cigarette and Vape Market is segmented based on Product, Component, Distribution Channel and Region.
- Based on Product, E-cigarette and Vape Market is segmented into Modular Devices, Rechargeable and Disposable.
- Based on Component, E-cigarette and Vape Market is segmented into Vape Mod, Atomizer, E-Liquid, Cartomizer, and Others.
- Based on Distribution Channel, E-cigarette and Vape Market is segmented into Online, Retail, Supermarkets, Convenient Stores and Others.
- By Region, the E-cigarette and Vape Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of E-cigarette and Vape Market:
The prominent players operating in the E-cigarette and Vape Market includes, British American Tobacco, Altria Group Inc., NicQquid, Imperial Brands, JUUL Labs Inc., International Vapor Group, R.J. Reynolds Vapor Company, Philip Morris International Inc., Shenzen KangerTech Technology Co. Ltd., Shenzen IVPS Technology Co. Ltd., and others.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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