The global e-cigarette market is expected to grow at a CAGR of 21.4% during the forecast period with its market size predicted to reach USD 53.4 billion by 2024. Increasing cancer cases related to smoking cigarettes, technological advancements in e-cigarettes, increasing disposable income, increasing awareness programs regarding the harmful effects of cigarettes are the major factors leading to the high demand for e-cigarettes in the global market.
Introduction of new flavors and fragrance to increase the traction for vaping devices
The growing popularity of vaping devices has led to the introduction of new flavors and fragrance. Flavors like menthol, mint, chocolate, cola, and different fruits are attracting more and more customers to adopt them. This trend is expected to continue and contribute to the e-cigarette market. Many companies in the industry are taking advantage of the ambiance in the market and getting merged with the tobacco cigarette giants. These companies are working together and making it more economical and efficient. This is further expected to expand the growth of the e-cigarette market across the globe.
Browse Market Insight and In-depth TOC on "Global E-Cigarette Market – Analysis and Forecast (2019-2024)"
Browse Market Insight and In-depth TOC on "Global E-Cigarette Market – Analysis and Forecast (2019-2024)"
Cig-a-like accounted for almost half of the revenue generated by the market players in 2018. The comparatively lower cost of these e-cigarettes makes them a popular choice among consumers. The cig-a-like e-cigarette market is further segmented into disposable and rechargeable cig-a-like. Among the two types, the market size for disposable cig-a-like is larger across the globe. The vaporizer market is categorized into an open tank and a closed system vaporizer.
North America accounts for the largest demand of e-cigarettes across the globe North America dominates the e-cigarette market due to earlier advancements in the technology of this segment, and high disposable income of citizens of countries such as the U.S. and Canada. Also, the awareness regarding the health hazards of cigarettes is making smokers quit cigarettes and adopt less harmful e-cigarettes. Moreover, the Asia-Pacific is anticipated to witness the fastest growth during the forecast period due to the huge population of the young generation and their inclination towards the e-cigarettes.
The prominent players operating in the e-cigarette market are Turning Point Brands, Inc. (International Vapor Group), British American Tobacco plc, VMR Products LLC, Altria Group Inc., Japan Tobacco Inc., Philip Morris International Inc., Imperial Brands plc, NJOY Inc., Vapor Hub International Inc., and FIN Branding Group LLC.
North America accounts for the largest demand of e-cigarettes across the globe North America dominates the e-cigarette market due to earlier advancements in the technology of this segment, and high disposable income of citizens of countries such as the U.S. and Canada. Also, the awareness regarding the health hazards of cigarettes is making smokers quit cigarettes and adopt less harmful e-cigarettes. Moreover, the Asia-Pacific is anticipated to witness the fastest growth during the forecast period due to the huge population of the young generation and their inclination towards the e-cigarettes.
The prominent players operating in the e-cigarette market are Turning Point Brands, Inc. (International Vapor Group), British American Tobacco plc, VMR Products LLC, Altria Group Inc., Japan Tobacco Inc., Philip Morris International Inc., Imperial Brands plc, NJOY Inc., Vapor Hub International Inc., and FIN Branding Group LLC.
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