E-Cigarette Market Forecast 2021-2026: Global Share, Size, Growth, Key Players, Trends, Industry Demand and Outlook
Looking ahead, the IMARC Group’s global e-cigarette market is expected to show strong growth in the 2021-2026 period.
According to the latest IMARC Group report entitled “E-Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Global E-Cigarette Market Size reached a value of 17 billion US dollars in 2020. Looking ahead, the IMARC Group’s global e-cigarette market is expected to show strong growth in the 2021-2026 period. E-cigarettes, also known as e-cigs, e-vaping machines, and vape pens, are battery-operated devices that are widely used as the primary substitute for regular cigarettes, cigars, and pipes. A liquid containing a mixture of nicotine, glycerin, propylene glycol, flavors, and chemicals is usually heated to create an aerosol that the user breathes in and out. This mist produced by these cigarettes is inhaled deeply into the users’ lungs, mimicking the sensation of smoking. Consisting of a battery, an e-liquid cartridge and a heating coil, e-cigarettes do not contain tobacco or other toxins and carcinogens, and do not produce tar or carbon monoxide, which are the main causes of lung diseases and cancer in cigarette smokers. As a result, e-cigarettes are considered a safer alternative to traditional cigarettes.
As the novel coronavirus (COVID-19) crisis conquers the world, we are continuously tracking changes in the markets and consumer buying behavior worldwide – our estimates of the latest market trends and forecast values after taking into account the effects of this pandemic.
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Global E-Cigarette Market Trends:
The market is primarily driven by the growing number of smokers worldwide. However, there is a growing awareness among smokers of the side effects associated with regular cigarette use, which has led them to switch to e-cigarettes as a safer alternative. The growing willingness of the population to stop smoking tobacco products has consequently contributed to increasing sales of e-cigarettes. Product innovations, such as the introduction of new generation e-cigarettes, which offer users flexibility in terms of strength and refillability, continue to drive demand for e-cigarettes. The easy availability of mod and pod vapes has also influenced market growth. Pod vapes are light, compact, and produce less vapor compared to traditional e-cigarettes. On the other hand, mod variants are larger and are characterized by higher vapor production. In addition, the growing trend towards do-it-yourself (DIY) e-liquid is also creating positive prospects for the market through the combination of different flavors according to the customization requirements of the users, together with the introduction of numerous flavored variants and the easy product availability via online trading portals . Other factors, such as the increasing number of women smokers, technological advances and extensive research and development (R&D), are likely to continue to drive the market.
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Key market segmentation:
Competitive landscape with key players:
- Philip Morris International Inc.
- Altria Group
- British American Tobacco plc
- Japan Tobacco Inc.
- Imperial Brands PLC
- International steam group
- Nicotek, LLC
- NJOY, LLC
- Reynolds American Inc
- VMR Products LLC
- MCIG Inc.
- ITC Limited
- J Well France
Market division according to products:
- Modular e-cigarette
- Rechargeable e-cigarette
- Next generation e-cigarette
- Disposable e-cigarette
Market division according to taste:
Market division by type of operation:
- Automatic e-cigarette
- Manual e-cigarette
Market division according to sales channel:
- Specialty stores for e-cigarettes
- Supermarkets and hypermarkets
Market breakdown by region:
- Asia Pacific
- Latin America
- Middle East and Africa.
Main highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently in the scope of the report, we can provide it to you as part of the customization.
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