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Global E-Cigarette and Vaporizer Market Analysis & Trends - Industry Forecast to 2028

Global E-Cigarette and Vaporizer Market Analysis & Trends - Industry Forecast to 2028

  • July 2021
  • 163 pages
  • ID: 5762080
  • Format: PDF
  • Accuray Research LLP


Table of Contents

E-Cigarette and Vaporizer: Market Size

From $21.12 billion in 2020, the global E-Cigarette and Vaporizer market is projected to reach $100.95 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 21.6% from 2020 - 2028 timeframe.

Some of the prominent trends that the market is witnessing include rise in technological developments by electronic cigarette manufacturers, innovation in vapor delivery, and consumers shifting preference toward E-cigarettes.

Global E-Cigarette and Vaporizer Market: Market Dynamics

The rising awareness about e-cigarettes being safer than traditional cigarettes, especially among the younger population, owing to various studies carried out by medical institutions and associations, is likely to drive the market growth. Furthermore, the array of customization features such as temperature control and nicotine concentrations offered by the vendors is expected to aid the product demand. The global e-cigarette and vaporizer market is driven by the factors such as vaping without ash or smoke, technological advancements leading to product innovation, increasing adoption through direct sales.

On the other hand, the regulations levied by local authorities across various countries such as the U.S. and India on the sale of vaping products and e-liquids are likely to obstruct the profit boundaries. In addition, governments and organizations conducting awareness programs to halt the usage of tobacco will further boost for the E-Cigarette and Vaporizer market.

Impact of COVID-19 on E-Cigarette and Vaporizer

The onset of COVID-19 has severely affected the E-cigarette and vaporizer industry. The overall restrictions on trade have obstructed the supply of vaping products from China to the world. This has resulted in the lack of e-cigarettes and various incidents of black promoting for these products in European and North American countries. Amid the COVID-19 pandemic, e-cigarette and vape vendors have adopted several COVID-19 based marketing methodologies to drive product sales. As the supplies of e-cigarette and vape devices became scarce in physical stores, the vendors began offering their products through online platforms and offered hand sanitizers and face masks as gifts on the purchase of vaping products. This acted as a key factor driving the market growth during the pandemic and is likely to continue to be a key factor in the post-pandemic era.

By Distribution Channel

Online Store Segment Dominate the Market in 2020

The online store segment made huge revenue in 2020 and growing its prominence during the forecast period as the introduction of online portals for such products and the selling of vaping products on the current online platforms have been a result of the growth of the e-commerce sector across the globe. Vaping product manufacturers are setting up new online business stages, as they have few barriers associated with them and they are perceived to be the best platform to satisfy the client need.

By Geography

North America Region is Leading in the Global Market Place

North America is likely to have a huge demand in the forecast period owing to the increasing healthcare concerns, extensive presence of major industry players, stringent rules and regulations by government regulatory bodies limiting the use of tobacco and rising adoption of e-cigarettes and vaporizers. The increasing adoption of such vaping products among the youth of the U.S. is a major driver for the regional market.

List of the Key Players Profiled in the Market Include:

• Molins Plc
• Vapor Corp
• Texas Select Vapor
• Reynolds American Inc
• Clearette Electronic Cigarette Co
• Purilum
• Ovale
• NicQuid
• Mountain Oak Vapors
• Altria Group, Inc
• Red kiwi
• Mad Vapes
• Japan Tobacco, International
• International Vapor Group, Inc
• Durasmoke
• Philip Morris International Inc
• Cerulean
• British American Tobacco PLC

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others

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