E-cigarette & Vaporizer Market Size, Insights, Demand & Opportunity Outlook 2023-2033

Global E-cigarette & Vaporizer Market Regional Synopsis

Regionally, the global e-cigarette & vaporizer market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the growing health concern, and increasing adoption of e-cigarettes and vaporizers in youngsters in the region. As per the data released by the U.S. Food and Drug Administration (FDA), In 2022, approximately 1 in 10 or more than 2.5 million middle and high school students in the United States have been using e-cigarettes.

The global e-cigarette & vaporizer market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

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Global E-cigarette & Vaporizer Market: Growth Drivers and Challenges

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Growth Drivers

Escalating Use of E-cigarette in Younger Population- Younger generation is more used to smoke cigarette. Individuals who start smoking at a young age have a greater chance to develop a severe nicotine addiction than those who start later in life. Therefore, younger population is now more aware about the drastic effects of smoking. Therefore, the use of e-cigarette is massively increasing in youth to keep the adverse effect of smoking at a bay. For instance, until first quarter of 2022, approximately 18% of 11-18 year olds in the United Kingdom had tried e-cigarette, up from 12% in 2021 and 14% in 2020.
Rising Adoption of E-cigarette Across the Globe – For instance, the worldwide adult e-cigarette user base increased from approximately 8 million in 2011 to 84 million in 2021.
Increasing Penetration of Internet - As per the World Bank data, the total number of internet users extended to 60% of the world’s population in 2020.
Rising Inclination to Quit Smoking – For instance, in 2019, roughly 62% of smokers in England planned to quit smoking. Whereas, 10% intended to do so within the next three months.
Worldwide Surge in Per Capita Income - As per the World Bank report, in 2021, the worldwide annual per capita income was boosted by 4.8% as compared to 1.5% annual per capita income in 2019.

Challenges

Imposition of Hefty Tax Rate by the Government
Unregulated Manufacturing Process
Imposition of Stringent Trading Laws

The e-cigarette & vaporizer market is segmented and analyzed for demand and supply by distribution channel into departmental store, specialist e-cig shops, online store, tobacconist, pharmacy store, and others. Out of these, the online store segment is anticipated to grow at a significant rate over the forecast period owing to the rising inclination of consumers towards online stores and online shopping, and ease of accessibility of varied types of e-cigarette and vaporizer on online store. For instance, there are approximately 3 billion online shoppers across the globe.

Market Segmentation

Our in-depth analysis of the global e-cigarette & vaporizer market includes the following segments:

By Product Type	Disposable E-cigarette Rechargeable E-cigarette E-go & Tanks E-cigarette Personal Vaporizers & Mods Others
By Battery Mode	Manual Automatic
By Flavor	Tobacco Botanical Fruits & Nuts Sweet Menthol Chocolate Others
By Distribution Channel	Departmental Store Specialist E-cig Shops Online Store Tobacconist Pharmacy Store Others

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Top Featured Companies Dominating the Global E-cigarette & Vaporizer Market

Imperial Brands PLC
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
JUUL Labs, Inc.
British American Tobacco plc
Pacific Smoke International
Philip Morris International Inc.
Altria Group, Inc.
NicQuid, LLC
NJOY, LLC
Reynolds American Inc.
JT International SA

In The News

April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the e-cigarette & vaporizer market?

Ans: Escalating use of e-cigarette in younger population, increasing penetration of internet, and rising inclination to quit smoking are some major factors driving the growth of the market.

2) What would be the CAGR of e-cigarette & vaporizer market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~33% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the e-cigarette & vaporizer market growth?

Ans: Imposition of hefty tax rate by the government, unregulated manufacturing process, and imposition of stringent trading laws are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of e-cigarette & vaporizer market in future?

Ans: The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the e-cigarette & vaporizer market?

Ans: The major players in the market are Imperial Brands PLC, JUUL Labs, Inc., British American Tobacco plc, Pacific Smoke International, Philip Morris International Inc., Altria Group, Inc., NicQuid, LLC, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the e-cigarette & vaporizer market?

Ans: The market is segmented by product type, battery mode, flavor, distribution channel, and by region.

8) Which segment captures the largest market size in distribution channel segment in the e-cigarette & vaporizer market?

Ans: The online store segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

E-cigarette And Vaporizer Market