E-Cigarette Market Is Projected to Reach US$ 52.13 Billion By 2031 With A CAGR Of 10.8% |The Insight Partners

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Sep 17, 2025, 10:50 ET

NEW YORK, Sept. 17, 2025 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global e-cigarette market is observing significant growth owing to the shift in consumer preference from traditional smoking to newer methods, and mounting popularity among youth. The report runs an in-depth analysis of market trends, key players, and future opportunities.

The report from The Insight Partners, therefore, provides several stakeholders—including hardware providers, software providers, service providers, system integrators, and end users —with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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Overview of Report Findings

Market Growth: The shift in consumer preference from traditional smoking to newer methods, and mounting popularity among youth are a few of the significant factors driving the global e-cigarette market. Furthermore, product innovations and technological advancements and emergence of subscription services is likely to propel the demand for e-cigarettes in the future.
Shift in Consumer Preference from Traditional Smoking to Newer Methods: One of the most significant drivers propelling the growth of the e-cigarette market is the global shift away from traditional tobacco smoking. This transition is fueled by the mounting public awareness of the health risks associated with combustible cigarettes, such as lung cancer, cardiovascular diseases, and respiratory disorders. Smoking harms nearly every organ of the body and causes numerous diseases. As consumers seek less harmful alternatives, e-cigarettes have emerged as a popular substitute, offering nicotine without the tar and other toxic chemicals that are prevalent in traditional tobacco smoke.
According to the official website of the US government, as of September 2024, cigarette smoking was a major public health concern while over 16 million Americans were living with a smoking-related disease. Smoking and secondhand smoke exposure cause over 480,000 deaths in the US each year. E-cigarettes are often marketed as a "safer" or "cleaner" option. Unlike conventional cigarettes that burn tobacco, e-cigarettes vaporize a liquid solution (commonly called e-liquid or vape juice) containing nicotine, propylene glycol, and flavoring agents. This process significantly reduces exposure to harmful by-products such as carbon monoxide and tar. Vaping products contain fewer harmful chemicals than cigarettes, and they can be used as an effective tool by people trying to quit smoking altogether. Thus, smokers are increasingly turning to e-cigarettes as a smoking cessation aid.
Products such as Juul, RELX, and Vuse are gaining popularity among adult smokers looking to quit or reduce their tobacco intake. For instance, in June 2024, the US Food and Drug Administration (FDA) authorized the first menthol-flavored electronic cigarettes for adult smokers, acknowledging that vaping flavors can reduce the harms of traditional tobacco smoking. Therefore, as more smokers seek alternatives to reduce health risks, demand for vaping products would continue to rise worldwide in the near future.
Emergence of Subscription Services: The emergence of e-liquid subscription services represents a promising opportunity in the e-cigarette industry. As vaping becomes more mainstream, consumers are increasingly looking for convenience, variety, and personalized experiences, and subscription models are well-positioned to meet these needs.
E-liquid subscription services typically operate on a monthly or bi-monthly basis, allowing users to receive a curated or customized selection of vape products delivered directly to their door. These plans offer a wide range of options based on nicotine strength, VG/PG ratio, and flavor profile. This flexibility appeals to both new and experienced vapers who enjoy discovering new products while ensuring a steady supply of their favorites. One of the key advantages of this model is convenience. Users no longer need to make frequent trips to retail stores or worry about running out of supplies.
Additionally, cost savings from bundled pricing and bulk discounts make subscription services a more affordable option over time. For example, users may gain access to premium flavors such as blueberry pomegranate nicotine salts (also known as nic salts) or limited-edition blends at reduced rates. Thus, subscription services offer a strategic growth channel in the e-cigarette market by combining personalization, convenience, and ongoing engagement. As consumer expectations continue to evolve, this model provides a scalable, customer-centric solution that encourages repeat business and strengthens brand loyalty, thereby generating significant growth opportunities for the market players.
Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific.

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Market Segmentation

On the basis of product type, the global e-cigarette market is segmented into modular, rechargeable and disposable. The rechargeable segment dominated the market in 2024.
Based on category type, the global e-cigarette market is segmented into tobacco and non-tobacco. The non-tobacco segment dominated the market in 2024.
In terms of distribution channel, the global e-cigarette market is segmented into online and offline. The offline distribution channel is further subsegment into specialty e-cig shops, supermarket and hypermarket and others. The offline segment dominated the market in 2024.

Competitive Strategy and Development

- Key Players: JT International SA; NJOY, LLC; Philip Morris International Inc; SAS J WELL FRANCE; Imperial Brands Plc; British American Tobacco Plc; KIWI (Vapour Italia S.r.l.); ELFBAR; Dinner Lady Fam Ltd.; LEM (INIMEX Srl); LIK BAR (SIGEL Srl); COOLPLAY; ELUX (Dongguan Topson Electronic Technology Co., Ltd); ALD Group Limited; and Eleaf are among the key players profiled in the e-cigarette market report.

- Trending Topics: Smart Vapes, Pod System, Mods, and Electronic nicotine delivery system (ENDS) among others

Global Headlines

- "Philip Morris Limited (PML), the UK and Ireland affiliate of Philip Morris International (PMI), expanded its smoke-free product portfolio in the UK with the launch of VEEV ONE. As the latest innovation in PMI's VEEV E-Vapor range, VEEV ONE features advanced heating technology and premium e-liquids made from high-quality nicotine and food-grade flavourings, ensuring a consistent taste experience. While not risk-free and containing nicotine, which is addictive, VEEV ONE emits on average 99% less harmful chemicals compared to cigarettes."

- "Eleaf has announced the launch of its latest devices, the iSilk and iSilk Lite, combining sleek design with reliable performance. The iSilk features an 850mAh rechargeable battery, a 2ml refillable pod, and an eye-shaped display for real-time battery level monitoring. Its mesh coil technology delivers smooth, full-flavor vaping. The iSilk Lite is a compact, pen-style device with a 500mAh battery, ideal for portable use. Both devices are compatible with the same pod, allowing users to easily switch between refillable and prefilled options for added convenience."

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Conclusion

Health concerns and negative public perception related to mounting usage in youth and long-term effects on users' health also hinder market growth. On the other hand, ongoing product innovations and advancements in vaping technology, which enhance user experience and safety, present significant growth opportunities in the market. The rise of online retail and subscription models is also expected to fuel the market in the coming years by providing convenient access and fostering brand loyalty. Smart vapes and IoT integration are emerging as key trends shaping the e-cigarette market.

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About Us:

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in semiconductor and electronics, aerospace and defense, automotive and transportation, biotechnology, healthcare IT, manufacturing and construction, medical devices, technology, media and telecommunications, and chemicals and materials.