The e-cigarette market has captured $17,901.1 million revenue in 2022, and it is projected to generate $38,631.1 million revenue in 2030, advancing at a rate of 10.1% from 2022 to 2030. The drop in traditional smoking due to the rising awareness on safer alternatives is a major driver, according to P&S Intelligence.
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Rising Consumption of Flavored E-Cigarettes
- To entice smokers, various vaping device flavors have been introduced in the recent past, such as bubble gum, menthol, cola, mint, and fusions of fruits and flavored substances.
- Users are rapidly shifting toward such flavored e-cigarettes in North America and Europe, especially Canada, the U.S., and the U.K.
- For instance, a large number of students in the middle and high schools prefer vaping devices that come with appealing flavors. Therefore, tobacco and e-cigarette companies are collaborating with the producers of favored e-juices, to meet this rising demand.
Vendors Expanding Their Sales Channels to Reach More Consumers
Vendors are utilizing various sales channels to widen the reach of their products and lure existing and new customers. Companies have, thus, begun to promote their products through discounts on e-commerce platforms and social media channels.
E-Cigarettes Claimed to Reduce Incidence of Cancer
The rising awareness of the harmful effects of smoking conventional cigarettes has resulted in the sale of alternatives that support consumers in quitting conventional ways of smoking tobacco.
The cancer caused due to smoking is a global concern. E-cigarettes help in reducing this risk by preventing the intake of over 4,000 harmful chemicals, such as tobacco and other toxins and carcinogens, which also cause other diseases apart from cancer.
E-Cigarettes Save Environment from Impact of Tobacco Smoke
- The smoke generated by burning tobacco harms the environment and humans equally. E-cigarette consumption does not cause smoke and generates mist, instead, which dissolves in the air.
- E-cigarettes also mitigate the need to flick ash and dump butts openly, which is why environmentally conscious customers are switching to them.
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E-Cigarette Demand Scenario across Countries
The U.S., France, China, Japan, the U.K., and Italy house the major industries for e-cigarettes. Additionally, countries such as Indonesia, South Africa, the Philippines, and Australia are expected to experience high sales in the near future.
- Europe captures the largest share on a regional level, led by the presence of a large number of consumers. In addition, the reduction in conventional smoking is projected to result in the expansion of the consumer base for electronic variants.
- Moreover, these products are garnering huge popularity in the APAC and African regions.
Global E-Cigarette Market Report Coverage
- Open tank
- Closed system
- Vape Mod
By Age Group
By Distribution channel
- Vape Shop
- North America
- South Korea
- Rest of the World
- South Africa
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