Market Overview
Tobacco consumption has become a global issue leading to addiction and serious respiratory illness. Therefore, E-Cigarettes, an alternate product, came into the market to make people get rid of tobacco. This has become one of the crucial drivers of the E-Cigarette & Vaporizer Market Revenue.
The less toxic nature of e-cigarettes and vape products is expanding their demand among consumers. The technological advancement in e-cigarette technology has led to the availability of e-liquid flavors, allowing customers to choose their desired flavor. The growing awareness among consumers about the safer alternatives to tobacco is stimulating the growth of the E-Cigarette & Vaporizer Market Revenue.
Technological advancements in the development of e-cigarettes with vapor and flavor which is contributing to the market’s growth. E-cigarettes had proven their worth when the ex-smokers believed they had improved their breathing. The growing price rate of regular cigarettes is aiding the e-cigarettes market.
The awareness program against tobacco is helping the market to propel itself. The COVID-19 marketing strategies, for example, initiating sales through the online platform and digital channels, have driven the market during the COVID-19 Pandemic. It is expected to maintain its growth in the post-pandemic era. The vaping method has become an effective and safe alternative to quitting traditional smoking because of less toxicity. The adoption of vape devices will accelerate the market in the forecast period.
The E-Cigarette & Vaporizer Market Revenue will further acquire a CAGR of 25.0 % and a significant market valuation in the forecast period by 2030.
Market Segments
The E-Cigarette & Vaporizer Market Revenue is segmented into product type, flavor, and distribution channel. Based on product type, the market is divided into disposable, rechargeable, and modular.
The product type segment is segmented into disposable, rechargeable, and modular. The modular electronic cigarette is in higher demand because of its property of refilling.
The flavor segment is classified into tobacco, sweets, beverage, botanical, fruit, and others. Tobacco flavored e-liquid is showing great demand among other flavors. The sales channels segment is categorized into E-Cig shops, online, supermarkets, tobacconists, and others.
Regional Analysis
The E-Cigarette & Vaporizer Market Revenue geographical report shows that it covers the major countries of North America, Europe, Asia Pacific, and others.
North America has proven as the largest market due to the presence of country U.S., which is the major consumer of the market. The APAC is the rapidly growing continent that will achieve the highest CAGR and strong market value in the forecast period. The developing regions China and India will estimate significant revenue in the future.
The e-cigarette industry will witness a rise in atomizers and e-liquids in the North America and European regions. The U.K. also legalized e-cigarette consumption, which is driving the regional growth of Europe. In England, tank e-cigarettes have become the most popular device type, which is surging its regional growth.
Industry News
In April 2022, RELX International, a global multinational E-Cigarette company, announced the decision by Egyptian authorities for the legal import and commercialization of e-cigarette products in the country. Uplifting the ban highlights the Egyptian authorities’ progressive approach to e-cigarettes to create a regulated market with business opportunities by serving the demand for legal age (adult) consumers across the country.
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