E Cigarette And Vape Market Overview
E-cigarette and Vape Market was valued at US$ 38.2 Billion in 2024 and is projected to grow at a CAGR of 31.00% to reach US$ 447 Billion by 2034.
E-cigarette is an electronic device with cigar or pen shaped and do not contain any tobacco, it uses battery, solution of nicotine flavorings and other chemicals. E-cigarette are also called as “e-hookahs”, “e-cigs”, “vape pens”, tank systems”, “mods” and “nicotine delivery systems”. Vape is a mixture of food grade flavoring, water, cannabis, choice of nicotine levels, vegetable glycerin and propylene glycol.
Growing adoption of E-cigarette in place of traditional cigarette has become major contribution in target market growth. Growing e-cigarette technology has further facilitated the target market growth. Growing health awareness and use of e-cigarettes and vaping as safer alternatives to smoking is expected to fruitful the demand for E-cigarette and Vape Market growth in coming years.
E Cigarette And Vape Market Dynamics
Rising use of safe alternatives to smoking
Rising use of safe alternatives to smoking has become the major factor in E-cigarette and Vape market growth. Rising consumer awareness for safe, smokless and ashless tobacco has driven the target market growth. Vaping is less harmful and produces vapor rather than smoke which in turn has given rise in demand for safe alternatives such as e-cigarette and vape which in turn has driven the target market growth.
Growing adoption of e-cigar and vape items
Growing adoption of e-cigar and vape items has become the major contribution in target market growth. Growing popularity of technology, low cost and marketing techniques of key players to offer various flavored cigar and vape products with menthol, chocolate, fruits & nuts and tobacco flavored is expected to boost the demand for target market growth. For instance, the British company sells flavored nicotine e-liquids in bottles which contains free hand sanitizers and most of the businesses are investing in e-cigar due to its effective and safe alternative to tobacco.
For instance, in October 2022, according to CDC (Centers for Disease Control and Prevention), more than 2.5 million of students in 6 to 12 grade uses e-cigarettes from past 30 days including 14% of high school students and around 3% of middle school students.
Restrains:
However, harmful effects on health such as lung injuries due to vaping and e-cigar has hampered the target market growth. In some countries such as India, there is ban on e-cigarettes and vaping due to its health effects. E-cigarette also contains nicotine and increased consumption of these products lead to addiction in young people and affect brain development in adolescent and als cause harm in developing fetus which in turn has hindered the E-cigarette and Vape market growth.
E Cigarette And Vape Market Segmentation
E-cigarette and Vape Market is segmented based on Product, Component, Distribution Channel and Region.
Product Insight
On the basis of Product, E-cigarette and Vape Market is segmented into Modular Devices, Rechargeable and Disposable. Rechargeable product is expected to dominate the target market growth due to its availability, affordability, cost-effective and are becoming more popular among youngsters due to its less smoke emission and can be charged by USB port.
Component Insights
On the basis of Component, E-cigarette and Vape Market is segmented into Vape Mod, Atomizer, E-Liquid, Cartomizer, and Others.
Distribution Channel Insights
On the basis of Distribution Channel, E-cigarette and Vape Market is segmented into Online, Retail, Supermarkets, Convenient Stores and Others. Retail distribution channel is expected to dominate the target market growth as it allows customers to try out and test the product and then make decision of purchasing. Retail stores allows customers to choose from variety of vape equipment and e-cigarettes.
Regional Insights:
On region the E-cigarette and Vape Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period. Moreover, rising adoption of e-cigarettes and vape among youngsters as a safer alternative to traditional cigarettes, presence of major key players is anticipated to increase demand for E-cigarette and Vape in the region.
For instance, according to results from (Annual National Youth Tobacco Survey), in November 2022, more than 1 in 10 middle and high school students had used tobacco product in past 30 days including 16.5% of high school and 4.5% of middle school students with increased use of E-cigarettes devices around 9.4%.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2023 |
|
Forecast period |
2024 – 2034 |
|
Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
|
Market Segmentation |
By Product - Modular Devices, Rechargeable and Disposable By Component - Vape Mod, Atomizer, E-Liquid, Cartomizer, and Others By Distribution Channel - Online, Retail, Supermarkets, Convenient Stores and Others |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the E-cigarette and Vape Market report based on Product, Component, Distribution Channel and Region:
E-cigarette and Vape Market, By Product:
- Modular Devices
- Rechargeable
- Disposable
E-cigarette and Vape Market, By Component:
- Vape Mod
- Atomizer
- E-Liquid
- Cartomizer
- Others
E-cigarette and Vape Market, By Distribution Channel:
- Online
- Retail
- Supermarkets
- Convenient Stores
- Others
E-cigarette and Vape Market, By Region:
- North America
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
-
- U.S.
- Canada
- Middle East & Africa
E Cigarette And Vape Market Key Players
The key players operating 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.
E Cigarette And Vape Market Key Issues Addressed
Recent Development:
- In March 2023, Philips Morris launched new disposable vape in UK market. New launched “Veeba” device is available in nine flavors with 1.8% of nicotine strength and estimate responsible diposable e-vapour device which can fulfill needs of existing adult nicotine users and also able to generate returns for retailers.
- In March 2023, Altria agreed to buy e-cigarette startup NJOY for $2.8 billion to strengthen its portfolio of smoke-free products. Altria will have full global ownership of NJOY’s e-vapor product portfolio where, NJOY has six products which have received full approval for sale from U.S. FDA (Food and Drug Administration) and has clearance from federal regulators.
- In September 2021, BAT announced “Vus” the number one global vaping brand by value share. By achieving global leadership in vaping market BAT determined strong momentum across its global new category business. Vuse has become category value share leader in four of top five vapor markets such as UK, Germany, France and Canada.
E Cigarette And Vape Market Company Profile
- British American Tobacco*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- 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.
“*” marked represents similar segmentation in other categories in the respective section
E Cigarette And Vape Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product
- Market Snippet, By Component
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Product
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Modular Devices
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Rechargeable
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Disposable
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- Market Segmentation, By Component, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Vape Mod
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Atomizer
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- E-Liquid
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Cartomizer
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- Market Segmentation, By Distribution Channel, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Online
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Retail
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Supermarkets
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Convenient Stores
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- Global Market, By Region, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Product, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Component, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Product, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Component, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Product, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Component, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Product, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Component, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
- Rest of Latin America
- Mexico
- Brazil
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Product, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Component, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
- Rest of Middle East
- South Africa
- Israel
- GCC
- Latin America
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- British American Tobacco
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Altria Group Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- NicQquid
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Imperial Brands
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- JUUL Labs Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- International Vapor Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- R.J. Reynolds Vapor Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Philip Morris International Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Shenzen KangerTech Technology Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Shenzen IVPS Technology Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
E-cigarette and Vape Market is segmented into Product, Component, Distribution Channel and Region.
E-cigarette and Vape Market is driven by factors like rising use of safe alternatives to smoking and growing adoption of e-cigar and vape items.
By region, the E-cigarette and Vape market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating 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.
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%.