Global E-Cigarette Market Research Report: Forecast (2023-2028)

Name: Global E-Cigarette Market Research Report: Forecast (2023-2028)
Creator: MarkNtel Advisors
License: https://www.marknteladvisors.com/privacy-policy

By Type (Completely Disposable Model, Rechargeable but Disposable Cartomizer, Personalized Vaporizer), By Battery Mode (Automatic E-cigarette, Manual E-cigarette), By Flavour (Toba...cco, Botanical, Fruit, Sweet, Beverage, Others), By Distribution Channel (Online Retail, Offline Retail), By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific), By Company (British American Tobacco PLC, Philip Morris International Inc., Altria Group, Inc., Imperial Brands PLC, JWEI Group, J Well France, Japan Tobacco Inc., Ritchy Group Limited, Juul Labs Inc., Innokin Technology, NJOY Inc., R. J. Reynolds Vapor Company, Shenzhen Kanger Technology Co., Ltd, NicQuid, Others) Read more

FMCG
Mar 2023
Pages 168
Report Format: PDF, Excel, PPT

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Market Definition

E-cigarettes or electronic cigarettes are battery-powered devices comprising three main components, a heating coil, a battery, & an e-liquid cartridge. These devices deliver vaporized nicotine or flavored dosages to users and are considered less toxic than conventional cigarettes.

Market Insights & Analysis: Global E-Cigarette Market (2023-28)

The Global E-cigarettes Market is projected to grow at a CAGR of around 3.3% during the forecast period, i.e., 2023-28. The growth of the market is likely to be driven primarily by the increasing urge in consumers to quit smoking tobacco products as well as their perception of e-cigarettes as a less risky alternative to traditional cigarettes owing to benefits, including no smoke & pollution, reduced health-related issues, and the ability to smoke in public areas.

More & more people are becoming aware of the harmful effects of conventional tobacco-based cigarettes, owing to which e-cigarettes are gaining traction, especially among the young generation & adolescents. Several small companies that offer effective vaping products & e-liquids are developing a sizable consumer base, and to keep their prices low, they are typically outsourcing e-cigarette production to China.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR (2023-2028)	3.3%
Regions Covered	North America: US, Canada, Mexico
	Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
	Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific
	South America: Brazil, Rest of South America
	Middle East & Africa: GCC, South Africa, Rest of MEA
Key Companies Profiled	British American Tobacco PLC, Philip Morris International Inc., Altria Group, Inc., Imperial Brands PLC, JWEI Group, J Well France, Japan Tobacco Inc., Ritchy Group Limited, Juul Labs Inc., Innokin Technology, NJOY Inc., R. J. Reynolds Vapor Company, Shenzhen Kanger Technology Co., Ltd, NicQuid, Others
Unit Denominations	USD Million/Billion

With growing consumer awareness of the health hazards associated with tobacco smoking, rechargeable e-cigarettes have gained popularity and witnessing high demand, owing mainly to their higher levels of flexibility than their single-use counterparts as well as cost-effectiveness. In addition, online retail channels are also creating profitable prospects for vendors in terms of security & reliability and, in turn, thus boosting the demand for these products online.

To meet the mounting demand for vaping devices worldwide, flavor & fragrance vendors are actively working on introducing a wide variety of e-liquids to attract consumers. Different flavors like menthol, mint, chocolate, cola, & bubble gum, and fusions of other fruits & flavoring substances are luring numerous consumers to adopt e-cigarettes.

Moreover, the mounting acceptance of e-cigarette technologies like pod systems & squonk mods, notably rising sales of atomizers & e-liquids, the growing number of vape shops where users can visit & taste different e-liquid flavors before buying, and the ever-increased popularity of tank e-cigarettes in the UK are other prominent aspects projected to drive the global e-cigarette market in the forecast years.

E-Cigarette Market Size, Share, Analysis & Report, 2028

Global E-Cigarette Market Recent Developments

In February 2023, Philip Morris International (PMI) launched VEEBA in the UK market, i.e., a premium, responsible, & sustainable disposable e-vapor device for use by adult smokers as well as existing adult nicotine users seeking a better alternative to continued smoking.
In October 2022, British American Tobacco PLC launched Vuse Go in Germany. It is a pre-filled, pocket-sized disposable e-cigarette for adult nicotine users & smokers looking for a reduced-risk alternative to cigarettes.

Global E-Cigarette Market (2023-28): Segmentation Analysis

The Global E-Cigarette Market study from MarkNtel Advisors analyses the major trends in each sub-segment and includes predictions for the period 2023–2028 at the global, regional, and national levels. The market has been segmented in our analysis based on type and distribution channel.

Based on Type:

Completely Disposable
Rechargeable
Personalized Vaporizer

Of them all, the rechargeable segment holds a larger share of the Global E-Cigarette Market mainly due to their lower costs. A rechargeable e-cigarette is a battery-powered vaping device that can be reused & refilled and has interchangeable cartridges. Users thus can try a wide variety of flavors at affordable pricing. Moreover, the mounting popularity of rechargeable e-cigarettes, especially among the young generation, in several countries, as they emit less smoke and can be charged even through a simple USB port, is another prominent aspect accelerating their demand and driving the market.

Based on Distribution Channel:

Offline Retail
Online Retail

Here, offline retail holds the largest market share. Primarily, e-cigarettes were offered for sale in retail locations like vape shops & gas stations, which allow customers to first check & try out numerous e-liquid flavors & vaporizers available in the market and then make a purchase. The staff of these shops plays a critical role in providing customers with product information, while many also offer smoking cessation advice. It is due to these aspects a large number of users find retail shops their go-to place for their tobacco needs and thus contribute to the overall market growth.

On the other hand, online retail stores are also gaining traction with the rapidly growing sales of e-cigarettes through e-commerce platforms. Several vendors, especially in the US, are opting for online distribution channels over retail stores owing to strict norms about the sale & distribution of e-cigarettes. Social media platforms are also being adopted increasingly by various companies to advertise & sell electronic smoking devices. Benefits like competitive pricing, convenience, and a greater variety of products available on e-commerce platforms are also playing a crucial role in driving the market through online retail stores.

Global E-Cigarette Market Regional Projection

Geographically, the Global E-Cigarette Market expands across:

North America
South America
Europe
Asia-Pacific

Of all regions globally, North America holds a prominent share of the E-Cigarette Market. It owes to the presence of influential tobacco companies, the mounting usage of vaping devices as a safer alternative to cigarettes, especially by the young generation, and the availability of a variety of e-cigarette flavors in the US. In addition, the perception of e-cigarettes as a fashion appeal and the increasing practice of nicotine-free e-liquids as they generate smoother vapes than other variants are also driving the regional market.

Moreover, the TVPA (Tobacco and Vaping Products Act) implementation in Canada to improve the accessibility of e-cigarettes to adults in order to shift their focus from traditional tobacco products and curb the sales of vapes & tobacco products to minors has also accelerated the demand for e-cigarettes across the region. Furthermore, the swift expansion of vape shops and the growing prevalence of online retail in the US & Canada are also spurring the growth in the North America E-Cigarette Market.

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Frequently Asked Questions

A. The E-Cigarette Market is projected to register around 3.3% CAGR during 2023-28.

A. The growing urge in consumers to quit smoking, coupled with the rising awareness among them of the benefits of e-cigarettes like zero smoke & pollution, reduced health-related issues, are the prime aspects expected to drive the E-Cigarette Market during 2023-28.

A. British American Tobacco PLC, Philip Morris International Inc., Altria Group, Inc., Imperial Brands PLC, JWEI Group, J Well France, Japan Tobacco Inc., Ritchy Group Limited, Juul Labs Inc., Innokin Technology, NJOY Inc., R. J. Reynolds Vapor Company, Shenzhen Kanger Technology Co., Ltd., and NicQuid are the key companies participating in the E-Cigarette Market.

A. Rechargeable e-cigarettes are projected to emerge as an area of remunerative opportunities for the leading players in the E-Cigarette Market during 2023-28.

A. Globally, North America would generate lucrative prospects for the Casein and Caseinates Market over the coming years.

Global E-Cigarette Market Research Report (2023-2028) - Table of Contents

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Global E-cigarette Market Trends & Developments
Global E-cigarette Market Dynamics
1. Growth Drivers
2. Challenges
Global E-cigarette Market Regulations, Policies & Standards
Global E-cigarette Market Supply Chain Analysis
Global E-cigarette Market Hotspots & Opportunities
Global E-cigarette Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Type
    1. Completely Disposable Model
    2. Rechargeable but Disposable Cartomizer
    3. Personalized Vaporizer
  2. By Battery Mode
    1. Automatic E-cigarette
    2. Manual E-cigarette
  3. By Flavour
    1. Tobacco
    2. Botanical
    3. Fruit
    4. Sweet
    5. Beverage
    6. Others
  4. By Distribution Channel
    1. Online Retail
    2. Offline Retail
  5. By Region
    1. North America
    2. South America
    3. Europe
    4. Middle East & Africa
    5. Asia-Pacific
  6. By Company
    1. Competition Characteristics
    2. Revenue Shares & Analysis
North America E-cigarette Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Type
  2. By Battery Mode
  3. By Flavour
  4. By Distribution Channel
  5. By End User
  6. By Country
    1. The US
    2. Canada
    3. Mexico
3. The United States E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
4. Canada E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
5. Mexico E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
South America E-cigarette Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Type
  2. By Battery Mode
  3. By Flavour
  4. By Distribution Channel
  5. By Country
    1. Brazil
    2. Rest of South America
3. Brazil E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
Europe E-cigarette Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Type
  2. By Battery Mode
  3. By Flavour
  4. By Distribution Channel
  5. By Country
    1. Germany
    2. The UK
    3. France
    4. Italy
    5. Spain
    6. Rest of Europe
3. Germany E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
4. The UK E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
5. France E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
6. Italy E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
7. Spain E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
Middle East & Africa E-cigarette Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Type
  2. By Battery Mode
  3. By Flavour
  4. By Distribution Channel
  5. By Country
    1. GCC
    2. South Africa
    3. Rest of MEA
3. GCC E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
4. South Africa E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
Asia-Pacific E-cigarette Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Type
  2. By Battery Mode
  3. By Flavour
  4. By Distribution Channel
  5. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of Asia-Pacific
3. China E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
4. India E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
5. Japan E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
6. South Korea E-cigarette Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Type
    2. By Battery Mode
Global E-cigarette Market Key Strategic Imperatives for Success & Growth
Competition Outlook
1. Competition Matrix
  1. Product Portfolio
  2. Target Markets
  3. Research & Development
  4. Strategic Alliances
  5. Strategic Initiatives
2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
  1. British American Tobacco PLC
  2. Philip Morris International Inc.
  3. Altria Group, Inc.
  4. Imperial Brands PLC
  5. JWEI Group
  6. J Well France
  7. Japan Tobacco Inc.
  8. Ritchy Group Limited
  9. Juul Labs Inc.
  10. Innokin Technology
  11. NJOY Inc.
  12. R. J. Reynolds Vapor Company
  13. Shenzhen Kanger Technology Co., Ltd
  14. NicQuid
  15. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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