E-Cigarette Market Introduction and Overview
According to SPER Market Research, the Global E-Cigarette Market is estimated to reach USD 94.94 billion by 2033 with a CAGR of 13.61%.
The report includes an in-depth analysis of the Global E-Cigarette Market, including market size and trends, product mix, distribution channels, and supplier analysis. E-cigarettes, also known as electronic cigarettes, are battery-powered devices that produce vapor containing nicotine or non-nicotine solutions for inhalation. These devices aim to mimic the sensation of smoking tobacco but without producing smoke. E-cigarettes are promoted as a means to reduce or quit smoking altogether. They have gained significant popularity and now surpass traditional tobacco cigarettes, particularly among teenagers. The primary trend in the global e-cigarette market is their affordability compared to regular cigarette packs.
- AUG 2021: Philip Morris International Inc. has introduced IQOS ILUMA in Japan, marking the brand's debut of a tobacco-heating system that utilizes induction-heating technology. Unlike previous models, this new innovation does not involve any blades and eliminates the need for cleaning.
- JUL 2021: Japan Tobacco Inc. has recently released Ploom X, their latest advanced heated tobacco device. The product is now accessible throughout Japan, being sold in convenience stores as well as selected tobacco retail stores.
Market Opportunities and Challenges
In terms of development and expansion, the global e-cigarette market offers both opportunities and difficulties. The growing demand for less harmful tobacco product alternatives is one of the biggest prospects. E-cigarettes are marketed as a possibly less dangerous option, luring consumers who are health-conscious and trying to give up smoking as well as smokers who want to quit. The sector may experience market growth and innovation as a result of this increasing demand. Additionally, the expansion of e-commerce and online retail channels provide a huge opportunity for market penetration by enabling e-cigarette businesses to reach a wider customer base globally.
The E-Cigarette sector does, however, also confront a number of difficulties. Regulation and ambiguity about the legal status of e-cigarettes in different countries might limit industry expansion and raise entry barriers. Stricter laws and restrictions on advertising and product availability may result from public health worries and discussions about the safety of e-cigarettes. Furthermore, the advent of knockoff e-cigarette products puts established brands in jeopardy by weakening consumer confidence and perhaps affecting market share.
Market Competitive Landscape
The E-Cigarette Market is characterized by fierce competition, as numerous local, domestic, and international companies are vying for market share. Intense rivalry among competitors is driving them to focus on product innovation and development as their primary strategies. Major players in the industry are targeting health-conscious consumers worldwide by introducing products featuring cutting-edge technological advancements, aiming to capture consumers' attention. The competition is further intensified by the increasing firm concentration ratio and higher advertising expenses incurred by these companies. Prominent participants in the market include Altria Group, Inc., British American Tobacco plc, Imperial Tobacco Group, International Vapor Group, Inc., ITC Limited, J WELL France, Japan Tobacco, Inc., MCIG Inc., Nicotek LLC, NJOY Inc., Philip Morris International Inc., Reynolds American Inc., VMR Products LLC, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By Battery Mode, By Distribution Channel
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| Regions covered | Asia Pacific, Europe, Middle East and Africa, North America, Latin America
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| Companies Covered | Altria Group, Inc., British American Tobacco plc, Imperial Tobacco Group, International Vapor Group, Inc., ITC Limited, J WELL France, Japan Tobacco, Inc., MCIG Inc., Nicotek LLC, NJOY Inc., Philip Morris International Inc., Reynolds American Inc., VMR Products LLC, Others
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COVID-19 Impact on Global E-Cigarette Market
The COVID-19 epidemic had both beneficial and negative effects on the worldwide e-cigarette business. On the one hand, lockdowns and social segregation policies spurred online e-cigarette sales as people looked for alternatives to conventional tobacco products. However, supply chain snarls and production freezes had an impact on which e-cigarette brands were readily available. Additionally, worries about respiratory health during the epidemic prompted inquiries about the potential risks of vaping, which temporarily decreased sales. The dynamics of the market were additionally impacted by regional limits and regulatory changes. Overall, the epidemic presented both possibilities and problems to the world's e-cigarette sector.
Key Target Audience
- Adults seeking reduced-harm alternatives
- Existing vapers
- Former smokers
- Smokers looking to quit
- Social smokers
- Young adults and college students
- Others
Our in-depth analysis of the E-Cigarette Market includes the following segments:
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By Product Type:
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Completely Disposable Model
Personalized Vaporizer
Rechargeable but Disposable Cartomizer
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By Battery Mode:
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Automatic E-cigarette
Manual E-cigarette
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By Distribution Channel:
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Offline Retail
Online Retail
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Key Topics Covered in the Report
- Global E-Cigarette Market Size (FY’2023-FY’2033)
- Overview of Global E-Cigarette Market
- Segmentation of Global E-Cigarette Market By Product Type (Completely Disposable Model, Personalized Vaporizer, Rechargeable but Disposable Cartomizer)
- Segmentation of Global E-Cigarette Market By Battery Mode (Automatic E-cigarette, Manual E-cigarette)
- Segmentation of Global E-Cigarette Market By Distribution Channel (Offline Retail, Online Retail)
- Statistical Snap of Global E-Cigarette Market
- Expansion Analysis of Global E-Cigarette Market
- Problems and Obstacles in Global E-Cigarette Market
- Competitive Landscape in the Global E-Cigarette Market
- Impact of COVID-19 and Demonetization on Global E-Cigarette Market
- Details on Current Investment in Global E-Cigarette Market
- Competitive Analysis of Global E-Cigarette Market
- Prominent Players in the Global E-Cigarette Market
- SWOT Analysis of Global E-Cigarette Market
- Global E-Cigarette Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global E-Cigarette Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global E-Cigarette Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global E-Cigarette Market
7. Global E-Cigarette Market, By Product Type (USD Million)
7.1. Global E-Cigarette Market Value Share and Forecast, By Product Type, 2023-2033
7.2. Completely Disposable Model
7.3. Personalized Vaporizer
7.4. Rechargeable but Disposable Cartomizer
8. Global E-Cigarette Market, By Battery Mode (USD Million)
8.1. Global E-Cigarette Market Value Share and Forecast, By Battery Mode, 2023-2033
8.2. Automatic E-cigarette
8.3. Manual E-cigarette
9. Global E-Cigarette Market, By Distribution Channel (USD Million)
9.1. Global E-Cigarette Market Value Share and Forecast, By Distribution Channel, 2023-2033
9.2. Offline Retail
9.3. Online Retail
10. Global E-Cigarette Market Forecast, 2019-2033 (USD Million)
10.1. Global E-Cigarette Market Size and Market Share
11. Global E-Cigarette Market, By Product Type, 2019-2033 (USD Million)
11.1. Global E-Cigarette Market Size and Market Share By Product Type (2019-2026)
11.2. Global E-Cigarette Market Size and Market Share By Product Type (2027-2033)
12. Global E-Cigarette Market, By Battery Mode, 2019-2033 (USD Million)
12.1. Global E-Cigarette Market Size and Market Share By Battery Mode (2019-2026)
12.2. Global E-Cigarette Market Size and Market Share By Battery Mode (2027-2033)
13. Global E-Cigarette Market, By Distribution Channel, 2019-2033 (USD Million)
13.1. Global E-Cigarette Market Size and Market Share By Distribution Channel (2019-2026)
13.2. Global E-Cigarette Market Size and Market Share By Distribution Channel (2027-2033)
14. Global E-Cigarette Market, By Region, 2019-2033 (USD Million)
14.1. Global E-Cigarette Market Size and Market Share By Region (2019-2026)
14.2. Global E-Cigarette Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. Altria Group, Inc
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. British American Tobacco plc
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Imperial Tobacco Group
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. International Vapor Group, Inc.
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. ITC Limited
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. J WELL France
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Japan Tobacco, Inc
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. MCIG Inc.
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Nicotek LLC
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. NJOY Inc.
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Philip Morris International Inc.
15.11.1. Company details
15.11.2. Financial outlook
15.11.3. Product summary
15.11.4. Recent developments
15.12. Reynolds American Inc.
15.12.1. Company details
15.12.2. Financial outlook
15.12.3. Product summary
15.12.4. Recent developments
15.13. VMR Products LLC
15.13.1. Company details
15.13.2. Financial outlook
15.13.3. Product summary
15.13.4. Recent developments
15.14. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
