Electronic Cigarette Market is anticipated to grow with a CAGR of 1.70% during the forecast timeline. It is a device, comprising of a battery, an inhaler, and an atomizer. The device is operated by heating a liquid solution to a high enough temperature, the solution includes nicotine, flavors, and a humectant like propylene glycol, the heating process is done to retain moisture, which results to produce an aerosol, which is used to inhale. This solution is called e-liquid. Furthermore, According to the research study, the device is being recognized as the best alternative and less harmful to conventional cigarettes, because the device does not burn tobacco which produces tars and carbon monoxide, and it also offers several benefits such as, no pollution, zero smoke reduces health-related problems and can be smoked at public places. Additionally, prevention should be taken before the consumption of the product. According to the CDC (Centre for Disease Control and Prevention), the device can benefit adult smokers who are not pregnant, as long as they completely replace any other nicotine or tobacco products. Because the product is not suitable for young people, pregnant ladies, and for those who have never smoked before. Global electronic cigarette market is expected to grow USD 9.5 million by 2030, from USD 9.6 million in 2020, registering a CAGR of 1.7% during forecast period.

Market Segmentation:

On the basis of product, the electronic cigarette market is classified into the cig-a-like, vaporizer, vape mode, and t-vapor. By application, the electronic cigarette market is categorized into disposable, rechargeable, and modular. By flavor, the market is classified into tobacco, botanical, sweet, and fruit. By battery, the market is bifurcated into automatic e-cigarette and manual e-cigarette. By region, the electronic cigarette market is categorized into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

In recent years the electronic cigarette market gave gained huge popularity, due to the willingness of consumers to quit smoking tobacco products, and their perception of e-cigarettes as the best and less harmful alternative to traditional cigarettes, which has led to the increased demand for these devices across the globe. The manufacturers are also started introducing new-generation products which offer different strengths of nicotine and allow the users to refill the cartridge. Furthermore, the leading manufacturers are acquiring and entering into partnerships with small and domestic vendors. According to the research study, Japan Tobacco International (JTI) acquired the UK-based e-cigarette brand E-Lites to develop new products and to commercialize its vaporizers worldwide. Further, they are developing the designs and technology in device to improve their functioning. And also introducing an extensive range of flavors, such as tobacco, fruits, and botanicals, in response to the evolving consumer preferences. However, implementation of the strike legal framework and lack of information provided by the manufacturers regarding safety, use, and maintenance of devices, is expected to restrain the electronic cigarette market growth. But consumer shift towards tobacco alternatives and the introduction of extensive flavors is considered as an opportunity for the electronic cigarette market to grow.

Geographic Analysis:

Europe is the largest dominating region in the world. In which France is estimated to be the world’s largest electronic cigarette market. According to the French Office for Smoking Prevention, the number of e-cigarette shops in France is estimated to reach over 500 by the end of 2020, where it was 141 shops in 2013. Followed by Europe, North America is the second most dominating region for the electronic cigarette market. Because of the presence of key industry players such as Philip Morris International Inc. and R.J. Reynolds Vapor Company, playing a major role for dominance. Asia Pacific is also expected to consistent expansion in the global electronic cigarette market, the primary contributors are India, Japan, China, and South Korea.

Competitive Scenario:

Some of the major key players in the electronic Cigarette market include MCIG Inc., ITC Limited, Altria Group Inc., British American Tobacco plc, Philip Morris International, Healthier Choices Management Corp, Japan Tobacco, Inc., J WELL France, Imperial Tobacco Group, Nicotek Llc, Njoy Inc., International Vapor Group, Reynolds American Inc, Vmr Flavours Llc., and Nicotek Llc, Njoy Inc.

Electronic Cigarette Market Report Scope