NEW YORK, Aug. 10, 2023 /PRNewswire/ -- The e-cigarette market is expected to increase to USD 15.57 billion from 2021 to 2026, at an accelerating CAGR of 11.2%, according to Technavio – Download a Sample Report
E-cigarette Market Insights -
- Companies: 15+, Including Altria Group Inc., Axcentria Pharmaceuticals, British American Tobacco Plc, E VAPELAB, ePuffer International Inc., Imperial Brands Plc, Innokin Technology Ltd., Japan Tobacco Co., JUUL Labs Inc., KangerTech, Nicopure Labs, NJOY LLC, Philip Morris International Inc., PhixVapor, Shenzhen Eigate Technology Co. Ltd., Shenzhen IVPS Technology Co. Ltd., Turning Point Brands Inc., Vapor4Life Inc., and White Cloud Electronic Cigarettes, among others
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and company landscape; company product insights and recent developments; key companies; and market positioning of companies
- Segments: product (modular e-cigarette, next-generation products, rechargeable e-cigarette, and disposable e-cigarette) and geography (North America, Europe, APAC, South America, and Middle East and Africa)
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E-cigarette Market - Company Insights
The growing competition in the market is compelling companies to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market companies, including - Altria Group Inc., Axcentria Pharmaceuticals, British American Tobacco Plc, E VAPELAB, ePuffer International Inc., Imperial Brands Plc, Innokin Technology Ltd., Japan Tobacco Co., JUUL Labs Inc., KangerTech, Nicopure Labs, NJOY LLC, Philip Morris International Inc., PhixVapor, Shenzhen Eigate Technology Co. Ltd., Shenzhen IVPS Technology Co. Ltd., Turning Point Brands Inc., Vapor4Life Inc., and White Cloud Electronic Cigarettes.
E-cigarette Market – Market Dynamics
Key Drivers
E-cigarettes perceived to be less harmful than other substitutes, are key factors driving market growth. When compared to tobacco-based products like cigarettes and cigars, e-cigarettes are seen to be safer. The Centers for Disease Control and Prevention (CDC) estimate that tobacco use results in 7 million deaths annually throughout the world. Smoking cigarettes results in more than 480,000 fatalities in the US each year, and passive smoking causes more than 41,000 deaths. It is well known that smoking tobacco products leads to heart disease, cancer, and respiratory problems. Smoking addiction is brought on by nicotine in tobacco products.
Furthermore, e-cigarettes create a flavored vapor that contains nicotine and promotes tobacco smoking without exposing users' lungs to harmful substances like tar. These cigarettes are thought to be less hazardous than traditional cigarettes since nicotine is produced without burning tobacco. Hence, these factors are expected to drive market growth during the forecast period.
Major Trends
Increasing promotional activities by companies is a major trend in the e-cigarette market. E-cigarette market players are focusing on increasing sales of their products and highlighting the diverse benefits of e-cigarettes by rolling out new marketing and advertising campaigns. This includes launching an advertising campaign aimed at encouraging people to quit smoking. For example, JUUL Labs launched its first TV advertising campaign which features testimonials from adults who used JUUL products to quit smoking. The company claims the ad campaign will target consumers over the age of 35 and will feature testimonials from smokers between the ages of 37 and 54. Thus, these factors are expected to drive market growth during the forecast period.
Significant Challenges
Stiff competition from other nicotine products is a significant challenge restricting market growth. Nicotine patches, nicotine snus, nasal sprays, inhalers, chewing tobacco, and lozenges Alternatives are some of the cigarettes and smokeless tobacco products which represent stiff competition for e-cigarettes. Increasing product launches in the smokeless tobacco product segment by several companies will further challenge the growth of e-cigarettes. Players active in the smokeless tobacco products sector rely on innovative products. Thus, the increasing competition in the market is expected to restrict market growth during the forecast period.
The e-cigarette market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as prospects.
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What are the key data covered in this E-cigarette Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the e-cigarette market between 2022 and 2026
- Precise estimation of the size of the e-cigarette market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the e-cigarette market across North America, Europe, APAC, South America, and the Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of the e-cigarette market companies
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Related Reports
The cigarettes market is projected to increase by USD 141.91 billion and the market size is estimated to grow at a CAGR of 3.75% between 2022 and 2027. Furthermore, this report extensively covers market segmentation by type (flavored and non-flavored), distribution channel (offline and online), and geography (APAC, Europe, North America, The Middle East and Africa, and South America). Product innovations by players is a key factor driving the growth of the market.
The nicotine gum market is projected to increase by USD 1,145.16 million and the market size is estimated to grow at a CAGR of 5.14% between 2022 and 2027. Furthermore, this report extensively covers market segmentation by distribution Channel (Offline and Online), product (2-mg nicotine, and 4-mg nicotine) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The increasing number of individuals attempting to quit smoking is a key factor driving the growth of the market.
E-cigarette Market Scope |
|
Report Coverage |
Details |
Base year |
2021 |
Historic period |
2017-2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.2% |
Market growth 2022-2026 |
USD 15.57 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
10.67 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, UK, France, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Altria Group Inc., Axcentria Pharmaceuticals, British American Tobacco Plc, E VAPELAB, ePuffer International Inc., Imperial Brands Plc, Innokin Technology Ltd., Japan Tobacco Co., JUUL Labs Inc., KangerTech, Nicopure Labs, NJOY LLC, Philip Morris International Inc., PhixVapor, Shenzhen Eigate Technology Co. Ltd., Shenzhen IVPS Technology Co. Ltd., Turning Point Brands Inc., Vapor4Life Inc., and White Cloud Electronic Cigarettes |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Company Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of companies included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 24: Chart on Product - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
- 5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product
- 5.3 Modular e-cigarette - Market size and forecast 2021-2026
- Exhibit 28: Chart on Modular e-cigarette - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Modular e-cigarette - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Modular e-cigarette - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Modular e-cigarette - Year-over-year growth 2021-2026 (%)
- 5.4 Next-generation products - Market size and forecast 2021-2026
- Exhibit 32: Chart on Next-generation products - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Next-generation products - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Next-generation products - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Next-generation products - Year-over-year growth 2021-2026 (%)
- 5.5 Rechargeable e-cigarette - Market size and forecast 2021-2026
- Exhibit 36: Chart on Rechargeable e-cigarette - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Rechargeable e-cigarette - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Rechargeable e-cigarette - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Rechargeable e-cigarette - Year-over-year growth 2021-2026 (%)
- 5.6 Disposable e-cigarette - Market size and forecast 2021-2026
- Exhibit 40: Chart on Disposable e-cigarette - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Disposable e-cigarette - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Disposable e-cigarette - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Disposable e-cigarette - Year-over-year growth 2021-2026 (%)
- 5.7 Market opportunity by Product
- Exhibit 44: Market opportunity by Product ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison
- 7.3 North America - Market size and forecast 2021-2026
- Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 UK - Market size and forecast 2021-2026
- Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.10 France - Market size and forecast 2021-2026
- Exhibit 78: Chart on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on France - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on France - Year-over-year growth 2021-2026 (%)
- 7.11 Germany - Market size and forecast 2021-2026
- Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.12 China - Market size and forecast 2021-2026
- Exhibit 86: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Company Landscape
- 9.1 Overview
- 9.2 Company landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 94: Impact of key risks on business
10 Company Analysis
- 10.1 Companies covered
- Exhibit 95: Companies covered
- 10.2 Market positioning of companies
- Exhibit 96: Matrix on company position and classification
- 10.3 Altria Group Inc.
- Exhibit 97: Altria Group Inc. - Overview
- Exhibit 98: Altria Group Inc. - Business segments
- Exhibit 99: Altria Group Inc. - Key offerings
- Exhibit 100: Altria Group Inc. - Segment focus
- 10.4 British American Tobacco Plc
- Exhibit 101: British American Tobacco Plc - Overview
- Exhibit 102: British American Tobacco Plc - Business segments
- Exhibit 103: British American Tobacco Plc - Key news
- Exhibit 104: British American Tobacco Plc - Key offerings
- Exhibit 105: British American Tobacco Plc - Segment focus
- 10.5 Imperial Brands Plc
- Exhibit 106: Imperial Brands Plc - Overview
- Exhibit 107: Imperial Brands Plc - Business segments
- Exhibit 108: Imperial Brands Plc - Key offerings
- Exhibit 109: Imperial Brands Plc - Segment focus
- 10.6 Japan Tobacco Co.
- Exhibit 110: Japan Tobacco Co. - Overview
- Exhibit 111: Japan Tobacco Co. - Business segments
- Exhibit 112: Japan Tobacco Co. - Key news
- Exhibit 113: Japan Tobacco Co. - Key offerings
- Exhibit 114: Japan Tobacco Co. - Segment focus
- 10.7 JUUL Labs Inc.
- Exhibit 115: JUUL Labs Inc. - Overview
- Exhibit 116: JUUL Labs Inc. - Product / Service
- Exhibit 117: JUUL Labs Inc. - Key offerings
- 10.8 Nicopure Labs
- Exhibit 118: Nicopure Labs - Overview
- Exhibit 119: Nicopure Labs - Product / Service
- Exhibit 120: Nicopure Labs - Key offerings
- 10.9 NJOY LLC
- Exhibit 121: NJOY LLC - Overview
- Exhibit 122: NJOY LLC - Product / Service
- Exhibit 123: NJOY LLC - Key offerings
- 10.10 Philip Morris International Inc.
- Exhibit 124: Philip Morris International Inc. - Overview
- Exhibit 125: Philip Morris International Inc. - Business segments
- Exhibit 126: Philip Morris International Inc. - Key offerings
- Exhibit 127: Philip Morris International Inc. - Segment focus
- 10.11 Shenzhen Eigate Technology Co. Ltd.
- Exhibit 128: Shenzhen Eigate Technology Co. Ltd. - Overview
- Exhibit 129: Shenzhen Eigate Technology Co. Ltd. - Product / Service
- Exhibit 130: Shenzhen Eigate Technology Co. Ltd. - Key offerings
- 10.12 Shenzhen IVPS Technology Co. Ltd.
- Exhibit 131: Shenzhen IVPS Technology Co. Ltd. - Overview
- Exhibit 132: Shenzhen IVPS Technology Co. Ltd. - Product / Service
- Exhibit 133: Shenzhen IVPS Technology Co. Ltd. - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 134: Inclusions checklist
- Exhibit 135: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 136: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 137: Research methodology
- Exhibit 138: Validation techniques employed for market sizing
- Exhibit 139: Information sources
- 11.5 List of abbreviations
- Exhibit 140: List of abbreviations
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