Summary

The global e-cigarette market size reached US$ 23.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 38.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.7% during 2024-2032. The rising preference for e-cigarettes over traditional cigarettes, the introduction of numerous flavors, such as menthol and tobacco, and the wide product availability through various distribution channels, are some of the major factors propelling the market.

An electronic cigarette, commonly referred to as an e-cigarette or vape, is a battery-powered device that simulates the act of smoking by producing an aerosol, often referred to as "vapor," which the user inhales. E-cigarettes are designed to provide an alternative to traditional tobacco smoking. The liquid solution, known as e-liquid or vape juice, usually contains nicotine, flavorings, and other additives. When the device is activated, the heating element vaporizes the e-liquid, creating a mist that can be inhaled. The nicotine content in e-liquids can vary, allowing users to choose nicotine levels that match their preferences or gradually reduce nicotine intake.

At present, the market is experiencing a notable shift in preference toward e-cigarettes over traditional cigarettes due to their lower levels of harmful substances. This trend is a significant driver for market growth. In addition, the increasing awareness among consumers regarding the benefits of smokeless and ashless tobacco is also providing a positive market outlook. Moreover, there is a growing global demand for alternative tobacco products, driven by the desire to explore healthier options. This, coupled with the surging interest in e-cigarettes among individuals aiming to quit or cut down on smoking, is propelling market expansion. The market is further driven by the diverse range of flavors available for e-cigarettes, including menthol, tobacco, chocolate, cola, bubble gum, mint, fruits, and nuts. These options present enticing growth prospects for industry investors. Besides, the widespread availability of e-cigarettes through various distribution channels such as specialty e-cig shops, supermarkets, hypermarkets, tobacconists, and online stores is also playing a positive role in driving market growth. Additionally, the growing demand for next-generation e-cigarettes, offering varying nicotine levels and refillable cartridges, is contributing significantly to market growth.

E-Cigarette Market Trends/Drivers:
Rising preference for e-cigarettes over traditional cigarettes

The shift toward e-cigarettes is partly driven by the perception that they are a less harmful alternative to traditional cigarettes. As this perception gains traction, more consumers are making the switch, further fueling the demand for e-cigarette products. Moreover, e-cigarettes produce aerosol (vapor) rather than smoke. This aerosol typically contains fewer toxic substances than the smoke generated by burning tobacco in traditional cigarettes. The reduced presence of harmful chemicals is appealing to those seeking a less detrimental option. Besides, e-cigarettes offer the flexibility to choose varying nicotine concentrations, enabling users to gradually reduce nicotine intake or control their nicotine consumption more effectively. This customization caters to those who want to manage their addiction or quit smoking, thus propelling the market.

Introduction of numerous flavored variants

The variety of flavors, such as fruits, desserts, candies, and beverages, appeals to a broader range of consumers. Flavors mimic familiar and enjoyable tastes, making e-cigarette use a more pleasurable and engaging experience. Besides, flavors attract non-smokers, including youth, who are intrigued by the novelty of the flavors. Moreover, flavors play a role in aiding smoking cessation efforts. Smokers looking to quit traditional cigarettes find flavored e-cigarettes more satisfying and appealing, making the transition easier and accelerating the product adoption rate. In addition, with varying levels of sweetness and complexity, flavors can be tailored to specific regions or cultural preferences. This adaptation enhances consumer engagement and market penetration.

Rising product availability through various distribution channels

E-cigarettes are accessible through multiple distribution channels, including specialty e-cig shops, supermarkets, hypermarkets, tobacconists, convenience stores, and online platforms. This convenience makes it easier for consumers to find and purchase e-cigarettes as part of their regular shopping routines. Moreover, different distribution channels provide opportunities for consumer education. Staff at specialty e-cig shops and tobacconists offer information, advice, and recommendations, helping consumers make informed decisions about their e-cigarette choices. Besides, online platforms offer unparalleled convenience. Consumers can browse and purchase e-cigarette products at any time from the comfort of their homes, eliminating the need to visit physical stores. This convenience is particularly appealing to busy individuals or those who may not have easy access to brick-and-mortar stores, which is propelling the market growth.

E-Cigarette Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global e-cigarette market report, along with forecasts at the global and regional levels for 2024-2032. Our report has categorized the market based on product, flavor, mode of operation and distribution channel.

Breakup by Product:

Modular E-Cigarette
Rechargeable E-Cigarette
Next-Generation E-Cigarette
Disposable E-Cigarette

Next-generation e-cigarette represent most used product

The report has provided a detailed breakup and analysis of the market based on the product. This includes modular e-cigarette, rechargeable e-cigarette, next-generation e-cigarette, and disposable e-cigarette. According to the report, next-generation e-cigarette represented the largest segment.

Next-generation e-cigarettes incorporate advanced technology, offering improved performance, functionality, and user experience. These devices often feature better battery life, adjustable settings, and enhanced vapor production. Besides, many next-generation e-cigarettes allow users to customize their vaping experience. Adjustable wattage, temperature control, and airflow settings enable users to tailor their device to their preferences, resulting in a more satisfying experience. Moreover, advanced battery technology in next-generation devices offers longer usage between charges. This feature is particularly appealing to users who want their devices to last throughout the day without frequent recharging, thus increasing the product dominance in the market.

Breakup by Flavor:

Tobacco
Botanical
Fruit
Sweet
Beverage
Others

Tobacco represents the most preferred flavor

A detailed breakup and analysis of the market based on the flavor has also been provided in the report. This includes tobacco, botanical, fruit, sweet, beverage, and others. According to the report, tobacco accounted for the largest market share.

Many individuals who transition from traditional smoking to e-cigarettes are accustomed to the taste of tobacco. Choosing a tobacco-flavored e-cigarette provides a sense of familiarity, which can make the transition to vaping smoother and more comfortable. Besides, e-cigarettes are often used as an alternative to traditional cigarettes. By opting for tobacco-flavored e-cigarettes, users can simulate the taste and overall experience of smoking, including the sensation of inhaling and exhaling vapor.

Fruit flavors offer a familiar and appealing taste profile that many consumers find enjoyable. The natural sweetness and variety of fruit flavors can replicate a pleasant sensory experience.

Breakup by Mode of Operation:

Automatic E-Cigarette
Manual E-Cigarette

Automatic e-cigarette hold the largest share in the market

A detailed breakup and analysis of the market based on the mode of operation has also been provided in the report. This includes automatic e-cigarette and manual e-cigarette. According to the report, automatic e-cigarette accounted for the largest market share.

Automatic e-cigarette are designed to be incredibly simple to use. Users only need to take a puff to activate the device, eliminating the need for manual buttons or controls. This user-friendly operation appeals to both novice and experienced vapers. Moreover, they closely mimic the experience of smoking traditional cigarettes. The puff-activated mechanism closely resembles the act of drawing on a cigarette, making the transition from smoking to vaping smoother for many individuals. Besides, automatic operation eliminates the need for manual activation, making automatic e-cigarette highly convenient for on-the-go use. Users can simply take a puff whenever they desire without the hassle of pressing buttons.

Breakup by Distribution Channel:

Specialty E-Cig Shops
Online
Supermarkets and Hypermarkets
Tobacconist
Others

E-cigarettes are widely distributed through specialty e-cig shops

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes specialty e-cig shops, online, supermarkets and hypermarkets, tobacconist, and others. According to the report, specialty e-cig shops accounted for the largest market share.

Specialty e-cig shops are staffed with knowledgeable employees who understand the intricacies of e-cigarettes, vaping devices, and e-liquids. This expertise allows them to provide accurate information, recommendations, and troubleshooting assistance to customers. Moreover, these shops offer a diverse range of e-cigarette devices, accessories, and e-liquids. This variety enables customers to explore different options and find products that suit their preferences and vaping style. Besides, shop staff can offer personalized recommendations based on customers' preferences, nicotine levels, flavor preferences, and vaping goals. This level of customization enhances the overall vaping experience.

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

North America exhibits a clear dominance in the market

The market research report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to the report, North America accounted for the largest market share.

North America was one of the early adopters of e-cigarettes and vaping devices. This region played a significant role in the development and innovation of e-cigarette technology and products, establishing a strong foundation for market growth. Moreover, North America has established a relatively balanced regulatory framework that allows for the legal sale and distribution of e-cigarette products. This regulatory stability has provided a conducive environment for market growth. Besides, the region boasts a well-developed distribution network for e-cigarettes, including specialty vape shops, online platforms, and retail outlets. This accessibility ensures easy availability and convenience for consumers.

Competitive Landscape:
The competitive landscape of the market is both dynamic and diversified, characterized by the presence of multiple players that include established brands, emerging startups, and specialty manufacturers. Presently, leading companies are investing in research and development to introduce technologically advanced vaping devices and e-liquids. Innovations include improved battery life, temperature control, customization options, and enhanced user experiences. They are expanding their product portfolios to include a wide range of devices, flavors, nicotine strengths, and styles. Catering to various preferences allows them to capture a larger share of the market. Moreover, companies are ensuring compliance with evolving regulations in different regions. Adhering to safety standards, age verification, packaging requirements, and labeling regulations is essential for maintaining credibility.

The market research report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Philip Morris International Inc.
Altria Group Inc.
British American Tobacco PLC
Japan Tobacco, Inc.
Imperial Tobacco Group
International Vapor Group
Nicotek LLC
NJOY Inc.
Reynolds American Inc.
ITC Limited
J WELL France
Recent Developments:
In August 2021, Philip Morris International Inc. unveiled the introduction of IQOS ILUMA in the Japanese market. This latest addition to the IQOS lineup marked the brand's debut tobacco-heating system featuring cutting-edge induction-heating technology. Notably, this innovative technology eliminates the need for a blade and cleaning, enhancing the convenience and user experience of the product.
JUL 2021, Japan Tobacco Inc. launched Ploom X, its next-generation heated tobacco device. Ploom X is made available across Japan through convenience stores and select tobacco retail stores.
British American Tobacco launched the Vuse ePod, an easy-to-use and compact vaping device. The Vuse ePod offers a variety of flavors and nicotine strengths, catering to different preferences.
E-Cigarette Market Report Scope:

Key Questions Answered in This Report

1. What was the size of the global e-cigarette market in 2023?
2. What is the expected growth rate of the global e-cigarette market during 2024-2032?
3. What has been the impact of COVID-19 on the global e-cigarette market?
4. What are the key factors driving the global e-cigarette market?
5. What is the breakup of the global e-cigarette market based on the product?
6. What is the breakup of the global e-cigarette market based on the flavor?
7. What is the breakup of the global e-cigarette market based on the mode of operation?
8. What is the breakup of the global e-cigarette market based on the distribution channel?
9. What are the key regions in the global e-cigarette market?
10. Who are the key players/companies in the global e-cigarette market?

ページTOPに戻る

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global E-Cigarette Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product
5.5 Market Breakup by Flavor
5.6 Market Breakup by Mode of Operation
5.7 Market Breakup by Distribution Channel
5.8 Market Breakup by Region
5.9 Market Forecast
6 Market Breakup Product
6.1 Modular E-Cigarette
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Rechargeable E-Cigarette
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Next-Generation E-Cigarette
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Disposable E-Cigarette
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Flavor
7.1 Tobacco
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Botanical
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Fruit
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Sweet
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Beverage
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 Market Breakup by Mode of Operation
8.1 Automatic E-Cigarette
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Manual E-Cigarette
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Distribution Channel
9.1 Speciality E-Cig Shops
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Online
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Supermarkets and Hypermarkets
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Tobacconist
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast
10 Market Breakup by Region
10.1 Asia Pacific
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Europe
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 North America
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Middle East and Africa
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Latin America
10.5.1 Market Trends
10.5.2 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
14.1 Price Indicators
14.2 Price Structure
14.3 Margin Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Philip Morris International
15.3.2 Altria Group Inc.
15.3.3 British American Tobacco PLC
15.3.4 Japan Tobacco, Inc.
15.3.5 Imperial Tobacco Group
15.3.6 International Vapor Group
15.3.7 Nicotek Llc,
15.3.8 Njoy Inc.
15.3.9 Reynolds American Inc.
15.3.10 ITC Limited
15.3.11 J Well France
List of Figures
Figure 1: Global: E-Cigarette Market: Major Drivers and Challenges
Figure 2: Global: E-Cigarette Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: E-Cigarette Market: Breakup by Product (in %), 2023
Figure 4: Global: E-Cigarette Market: Breakup by Flavor (in %), 2023
Figure 5: Global: E-Cigarette Market: Breakup by Mode of Operation (in %), 2023
Figure 6: Global: E-Cigarette Market: Breakup by Distribution Channel (in %), 2023
Figure 7: Global: E-Cigarette Market: Breakup by Region (in %), 2023
Figure 8: Global: E-Cigarette Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 9: Global: E-Cigarette Industry: SWOT Analysis
Figure 10: Global: E-Cigarette Industry: Value Chain Analysis
Figure 11: Global: E-Cigarette Industry: Porter’s Five Forces Analysis
Figure 12: Global: E-Cigarette (Modular) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: E-Cigarette (Modular) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: E-Cigarette (Rechargeable) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: E-Cigarette (Rechargeable) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: E-Cigarette (Next-Generation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: E-Cigarette (Next-Generation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: E-Cigarette (Disposable) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: E-Cigarette (Disposable) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: E-Cigarette (Tobacco) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: E-Cigarette (Tobacco) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: E-Cigarette (Botanical) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: E-Cigarette (Botanical) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: E-Cigarette (Fruit) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: E-Cigarette (Fruit) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: E-Cigarette (Sweet) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: E-Cigarette (Sweet) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: E-Cigarette (Beverage) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: E-Cigarette (Beverage) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: E-Cigarette (Other Flavors) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: E-Cigarette (Other Flavors) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: E-Cigarette (Automatic) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: E-Cigarette (Automatic) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: E-Cigarette (Manual) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: E-Cigarette (Manual) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Global: E-Cigarette Market: Sales through Speciality E-Cig Shops (in Million US$), 2018 & 2023
Figure 37: Global: E-Cigarette Market Forecast: Sales through Speciality E-Cig Shops (in Million US$), 2024-2032
Figure 38: Global: E-Cigarette Market: Online Sales (in Million US$), 2018 & 2023
Figure 39: Global: E-Cigarette Market Forecast: Online Sales (in Million US$), 2024-2032
Figure 40: Global: E-Cigarette Market: Sales through Supermarkets and Hypermarkets (in Million US$), 2018 & 2023
Figure 41: Global: E-Cigarette Market Forecast: Sales through Supermarkets and Hypermarkets (in Million US$), 2024-2032
Figure 42: Global: E-Cigarette Market: Sales through Tobacconist (in Million US$), 2018 & 2023
Figure 43: Global: E-Cigarette Market Forecast: Sales through Tobacconist (in Million US$), 2024-2032
Figure 44: Global: E-Cigarette Market: Sales through Other Distribution Channels (in Million US$), 2018 & 2023
Figure 45: Global: E-Cigarette Market Forecast: Sales through Other Distribution Channels (in Million US$), 2024-2032
Figure 46: Asia Pacific: E-Cigarette Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Asia Pacific: E-Cigarette Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Europe: E-Cigarette Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Europe: E-Cigarette Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: North America: E-Cigarette Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: North America: E-Cigarette Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Middle East and Africa: E-Cigarette Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Middle East and Africa: E-Cigarette Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Latin America: E-Cigarette Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Latin America: E-Cigarette Market Forecast: Sales Value (in Million US$), 2024-2032
List of Tables
Table 1: Global: E-Cigarette Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: E-Cigarette Market Forecast: Breakup by Product (in Million US$), 2024-2032
Table 3: Global: E-Cigarette Market Forecast: Breakup by Flavor (in Million US$), 2024-2032
Table 4: Global: E-Cigarette Market Forecast: Breakup by Mode of Operation (in Million US$), 2024-2032
Table 5: Global: E-Cigarette Market Forecast: Breakup by Distribution Channel (in Million US$), 2024-2032
Table 6: Global: E-Cigarette Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: E-Cigarette Market Structure
Table 8: Global: E-Cigarette Market: Key Players