British American Tobacco plc announced that one of its brand – “Vuse” has become the world's first carbon-neutral vape brand with the world's highest value share.
JT International SA launched Logic Pro, the world's first nicotine-containing e-cigarette, in Switzerland. With Logic Pro, tobacco is heated at extremely low temperatures without combusting.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 451
Published Date: Feb 13, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
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.
The market is anticipated to attain a CAGR of 33% over the forecast period, i.e., 2023-2033.
Imposition of hefty tax rate by the government, unregulated manufacturing process, and imposition of stringent trading laws are estimated to hamper the market growth.
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.
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.
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.
The market is segmented by product type, battery mode, flavor, distribution channel, and by region.
The online store segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.