According to the latest report by IMARC Group, titled “Global E-Cigarette Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global e-cigarette market reached a value of US$ 20.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 30 Billion by 2027, exhibiting at a CAGR of 4.5% during 2022-2027. An e-cigarette is a battery-operated, electronic nicotine delivery system (ENDS). It comprises a mouthpiece, atomizer, liquid cartridge, glycerin, propylene glycol, and heating coil to produce smooth vapor upon inhalation. These substances can be formulated with different nicotine levels depending on consumer preference. E-cigarettes do not burn tobacco and carcinogens that generate carbon monoxide (CO) and tar. Consequently, they are considered a safer substitute to conventional cigarettes.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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Global E-Cigarette Market Trends:
The rising awareness regarding the adverse effects of prolonged consumption of traditional tobacco-based products is majorly driving the global e-cigarettes market growth. Additionally, the increasing usage of e-cigarettes by the young demographic is further propelling the market growth. Continuous product innovations, such as the introduction of new flavors in e-liquids and vapors, are acting as a growth-inducing factor. Apart from this, the rising number of smokers and the continual launch of awareness campaigns by governments of various nations to curb the consumption of tobacco are creating a positive outlook for the market.
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Global E-Cigarette Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- Philip Morris International Inc.
- Altria Group
- British American Tobacco p.l.c.
- Japan Tobacco Inc.
- Imperial Brands PLC
- International Vapor Group
- Nicotek, LLC
- NJOY, LLC
- Reynolds American Inc
- VMR Products LLC
- MCIG Inc.
- ITC Limited
- J Well France
Market Breakup by Product:
- Modular E-Cigarette
- Rechargeable E-Cigarette
- Next-Generation E-Cigarette
- Disposable E-Cigarette
Market Breakup by Flavor:
Market Breakup by Mode of Operation:
- Automatic E-Cigarette
- Manual E-Cigarette
Market Breakup by Distribution Channel:
- Specialist E-Cig Shops
- Supermarkets and Hypermarkets
Market Breakup by Region:
- Asia Pacific
- Latin America
- Middle East and Africa.
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027 )
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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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