The latest report published by IMARC Group, titled “E-Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on E-Cigarette market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global e-cigarette market size reached US$ 21.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.
E-Cigarette Market Overview:
An e-cigarette, short for electronic cigarette, is a battery-operated device that simulates smoking by vaporizing a liquid solution typically containing nicotine. When a user inhales from the e-cigarette, a heating element vaporizes the liquid, producing an aerosol commonly referred to as “vapor.” E-cigarettes were initially marketed as a less harmful alternative to traditional tobacco cigarettes, as they do not involve combustion and its harmful byproducts.
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E-Cigarette Market Trends:
The global market is majorly driven by reduced harm perception. Various consumers perceive e-cigarettes as a less harmful alternative to traditional tobacco cigarettes. The absence of combustion means no tar or many harmful chemicals in tobacco smoke. Furthermore, e-cigarettes are increasingly being used as a smoking cessation tool. Some smokers turn to e-cigarettes to gradually reduce nicotine intake or quit smoking altogether. Furthermore, they offer various flavors, appealing to consumers seeking diverse taste experiences beyond traditional tobacco. This variety attracts new users.
Apart from this, e-cigarettes are highly portable and can be used in various settings where traditional smoking is restricted. This convenience factor adds to their popularity. Moreover, since e-cigarettes produce aerosol rather than smoke, the risks associated with secondhand smoke exposure are significantly reduced, making them more socially acceptable. Besides, rapid technological advancements continue to improve the design, safety, and performance of e-cigarettes, making them more attractive to consumers. Additionally, in some regions, e-cigarettes have gained regulatory approval as smoking cessation aids, lending credibility to their effectiveness and safety.
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E-Cigarette Market Segmentation:
Competitive Landscape:
- 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
Product Insights:
- Modular E-Cigarette
- Rechargeable E-Cigarette
- Next-Generation E-Cigarette
- Disposable E-Cigarette
Flavor Insights:
- Tobacco
- Botanical
- Fruit
- Sweet
- Beverage
- Others
Mode of Operation Insights:
- Automatic E-Cigarette
- Manual E-Cigarette
Distribution Channel Insights:
- Speciality E-Cig Shops
- Online
- Supermarkets and Hypermarkets
- Tobacconist
- Others
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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