Global E-cigarette Market (2022 to 2027) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 21, 2022--
The “E-cigarette Market - Growth, Trends, COVID-19 Impact and Forecasts (2022 - 2027)” report has been added to ResearchAndMarkets.com’s offering.
The e-cigarette market was valued USD 23.6 billion in 2021, and is projected to record a CAGR of 13.39% during the forecast period (2022-2027).
- British American Tobacco PLC
- Philip Morris International Inc.
- Imperial Brands PLC
- JWEI Group
- J Well France
- Japan Tobacco Inc.
- Ritchy Group Limited
- Juul Labs Inc.
- Innokin Technology
- NJOY Inc.
Key Market Trends
Cost-effective Solution than Traditional Tobacco
A major portion of the world population is considering e-cigarettes or vapes as a healthier option as compared to regular cigarettes. Alongside, the added cost-effective nature of e-cigarettes in comparison to traditional ones drives the growth of the market. For instance, the cost of a single-use, disposable e-cigarette is around USD 1 to USD 15 per product or more.
The rechargeable starter kits having multiple pods cost around USD 25 to USD 150 or more, whereas the liquid refill kits cost around USD 50 to USD 75 monthly. The median price of a Marlboro Reds pack is around USD 13 to USD 15, along with having nicotine content as high as 1.9 milligrams in each cigarette.
The affordable cost of e-cigarettes, paired with the price-based marketing strategy of the vendors, encourages consumers to buy e-cigarettes. The affordability of the disposable models of e-cigarettes attracts consumers, making them economical for use. Moreover, the reusability of e-cigarettes by refilling adds more value to the cost-effective aspect of the product, providing a cheaper solution to the individuals.
North America Holds the Largest Market Share
North America holds the largest share in the e-cigarettes market. The involvement of youth in using these products has led to a rise in demand.
For instance, youth in the United States are the major consumers of e-cigarettes. In 2020, the Centre for Disease Control and Prevention (CDC) reported that 3.6 million US middle and high school students used e-cigarettes in the study period of 30 days, including 4.7% of middle school students and 19.6% of high school students.
E-cigarettes hold the major share of tobacco products, and currently, more than 3,000 e-cigarette flavors are available in the US market, and a number of flavors are being introduced into the market every year. Nicotine-free e-liquids generate smoother vapes than other variants.
Additionally, professional vapers, who perform at several events and involve in chain vaping for practice, consider nicotine-free vaping as the best alternative to traditional vaping in the regional market. The association of vaping/e-cigarettes with fashion appeal drives the demand for e-cigarettes in the North American market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Completely Disposable Model
5.1.2 Rechargeable but Disposable Cartomizer
5.1.3 Personalized Vaporizer
5.2 By Battery Mode
5.2.1 Automatic E-cigarette
5.2.2 Manual E-cigarette
5.3 By Distribution Channel
5.3.1 Offline Retail
5.3.2 Online Retail
6 COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Key Players
6.2 Market Share Analysis
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/63sqg1
View source version on businesswire.com:https://www.businesswire.com/news/home/20221221005282/en/
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SOURCE: Research and Markets
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PUB: 12/21/2022 07:11 AM/DISC: 12/21/2022 07:12 AM