Product Code: 10521
Market Overview
In 2023, The worldwide e-cigarette industry generated revenue of USD 20.5 billion, which is projected to experience a CAGR of 10.3% over the projection period, to attain USD 40.6 billion by 2030. Nicotine convention cigarette's number has gone down as the major contributor to a decline in smoking traditional cigarettes, and people get safer alternatives that supposedly are electronic cigarettes.
The rise in the knowledge and focus on the safety of e-cigs as compared to those that are traditional products has got young people's eye for e-cigs which makes them contribute to the increasing sales.
To improve the extent to which their products are sold out worldwide, e-cigarette vendors are finding more sales channels to get to those clients who do not know their products from the range of existing products. Vaping companies choose to cater to the new generation through online channels where they share information about their e-cigarette products through social media channels and massive discounts online.
Social media is now viewed as a crucial advertising avenue for companies, as influencers, a fandom, and brand ambassadors keep posting marketing photos and videos. It is evident from the existing situation in countries like China, the UK, and the US that there is a rapid pace of growth in respect of digital marketing, and e-cigarette producers are using the online approach as one of the best strategies of marketing through the internet. Therefore, placing more stress on online marketing is very current in the e-cigarette industry.
Key Insights
In 2023, the vaporizer category had a 45% industry share, projected to uphold dominance.
The t-vapor category is projected to witness the highest CAGR of 10.7% because of its popularity in Japan and South Korea.
T-vapors are favored for tobacco flavor, resembling traditional smoking.
The recreation industry boosts sales with regional policies favoring vaping devices.
Technical improvements such as temperature control drive sales growth.
In 2023, the male category had a 75% industry share, projected to continue dominating.
The 16-25 age group produced the highest revenue share of 30%, projected to hold the position.
E-cigarettes like JUUL draw teenagers with its smooth use and sweet flavors.
It is clear that teens will start to vape if they perceive vaping as less hazardous.
Youngsters can now easily get vaping tools with just a click of the button.
The fastest growing distribution channel is to be online with the CAGR of 10.6% from 2024 to 2030.
Convenience, cost, liberty, or wider variety of products bring more profits to e-stores.
The European market, which accounted for 50% of sales in 2023, is expected to outpace the rest as traditional smoking declines.
Social media hosts major brands where their products are displayed, which is a factor that attracts a younger audience.
UK, France, and Russia (Russian Federation) are primary sources of income.
Through a vaping poll, the EU revealed that between one and seven EU traditional smokers are current users of vaping products.
Health authorities establishing the image of e-liquids as better replacements bring about better sales and production.
E-cigarettes are devoid of tar as well and thus, e-cigarettes have remained popular among those who want to make a change in their lifestyle and also among those who are looking for a rejuvenating new experience, thereby fueling market growth.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by product
- 1.4.2. Market size breakdown, by gender
- 1.4.3. Market size breakdown, by age group
- 1.4.4. Market size breakdown, by distribution channel
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Volume, by Product (2017-2030)
- 6.3. Market Revenue, by Product (2017-2030)
- 6.4. Market Volume, by Gender (2017-2030)
- 6.5. Market Revenue, by Gender (2017-2030)
- 6.6. Market Volume, by Age Group (2017-2030)
- 6.7. Market Revenue, by Age Group (2017-2030)
- 6.8. Market Volume, by Distribution Channel (2017-2030)
- 6.9. Market Revenue, by Distribution Channel (2017-2030)
- 6.10. Market Volume, by Region (2017-2030)
- 6.11. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Volume, by Product (2017-2030)
- 7.3. Market Revenue, by Product (2017-2030)
- 7.4. Market Volume, by Gender (2017-2030)
- 7.5. Market Revenue, by Gender (2017-2030)
- 7.6. Market Volume, by Age Group (2017-2030)
- 7.7. Market Revenue, by Age Group (2017-2030)
- 7.8. Market Volume, by Distribution Channel (2017-2030)
- 7.9. Market Revenue, by Distribution Channel (2017-2030)
- 7.10. Market Volume, by Country (2017-2030)
- 7.11. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Volume, by Product (2017-2030)
- 8.3. Market Revenue, by Product (2017-2030)
- 8.4. Market Volume, by Gender (2017-2030)
- 8.5. Market Revenue, by Gender (2017-2030)
- 8.6. Market Volume, by Age Group (2017-2030)
- 8.7. Market Revenue, by Age Group (2017-2030)
- 8.8. Market Volume, by Distribution Channel (2017-2030)
- 8.9. Market Revenue, by Distribution Channel (2017-2030)
- 8.10. Market Volume, by Country (2017-2030)
- 8.11. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Volume, by Product (2017-2030)
- 9.3. Market Revenue, by Product (2017-2030)
- 9.4. Market Volume, by Gender (2017-2030)
- 9.5. Market Revenue, by Gender (2017-2030)
- 9.6. Market Volume, by Age Group (2017-2030)
- 9.7. Market Revenue, by Age Group (2017-2030)
- 9.8. Market Volume, by Distribution Channel (2017-2030)
- 9.9. Market Revenue, by Distribution Channel (2017-2030)
- 9.10. Market Volume, by Country (2017-2030)
- 9.11. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Volume, by Product (2017-2030)
- 10.3. Market Revenue, by Product (2017-2030)
- 10.4. Market Volume, by Gender (2017-2030)
- 10.5. Market Revenue, by Gender (2017-2030)
- 10.6. Market Volume, by Age Group (2017-2030)
- 10.7. Market Revenue, by Age Group (2017-2030)
- 10.8. Market Volume, by Distribution Channel (2017-2030)
- 10.9. Market Revenue, by Distribution Channel (2017-2030)
- 10.10. Market Volume, by Country (2017-2030)
- 10.11. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Volume, by Product (2017-2030)
- 11.3. Market Revenue, by Product (2017-2030)
- 11.4. Market Volume, by Gender (2017-2030)
- 11.5. Market Revenue, by Gender (2017-2030)
- 11.6. Market Volume, by Age Group (2017-2030)
- 11.7. Market Revenue, by Age Group (2017-2030)
- 11.8. Market Volume, by Distribution Channel (2017-2030)
- 11.9. Market Revenue, by Distribution Channel (2017-2030)
- 11.10. Market Volume, by Country (2017-2030)
- 11.11. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Volume, by Product (2017-2030)
- 12.3. Market Revenue, by Product (2017-2030)
- 12.4. Market Volume, by Gender (2017-2030)
- 12.5. Market Revenue, by Gender (2017-2030)
- 12.6. Market Volume, by Age Group (2017-2030)
- 12.7. Market Revenue, by Age Group (2017-2030)
- 12.8. Market Volume, by Distribution Channel (2017-2030)
- 12.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Volume, by Product (2017-2030)
- 13.3. Market Revenue, by Product (2017-2030)
- 13.4. Market Volume, by Gender (2017-2030)
- 13.5. Market Revenue, by Gender (2017-2030)
- 13.6. Market Volume, by Age Group (2017-2030)
- 13.7. Market Revenue, by Age Group (2017-2030)
- 13.8. Market Volume, by Distribution Channel (2017-2030)
- 13.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Volume, by Product (2017-2030)
- 14.3. Market Revenue, by Product (2017-2030)
- 14.4. Market Volume, by Gender (2017-2030)
- 14.5. Market Revenue, by Gender (2017-2030)
- 14.6. Market Volume, by Age Group (2017-2030)
- 14.7. Market Revenue, by Age Group (2017-2030)
- 14.8. Market Volume, by Distribution Channel (2017-2030)
- 14.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Volume, by Product (2017-2030)
- 15.3. Market Revenue, by Product (2017-2030)
- 15.4. Market Volume, by Gender (2017-2030)
- 15.5. Market Revenue, by Gender (2017-2030)
- 15.6. Market Volume, by Age Group (2017-2030)
- 15.7. Market Revenue, by Age Group (2017-2030)
- 15.8. Market Volume, by Distribution Channel (2017-2030)
- 15.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Volume, by Product (2017-2030)
- 16.3. Market Revenue, by Product (2017-2030)
- 16.4. Market Volume, by Gender (2017-2030)
- 16.5. Market Revenue, by Gender (2017-2030)
- 16.6. Market Volume, by Age Group (2017-2030)
- 16.7. Market Revenue, by Age Group (2017-2030)
- 16.8. Market Volume, by Distribution Channel (2017-2030)
- 16.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Volume, by Product (2017-2030)
- 17.3. Market Revenue, by Product (2017-2030)
- 17.4. Market Volume, by Gender (2017-2030)
- 17.5. Market Revenue, by Gender (2017-2030)
- 17.6. Market Volume, by Age Group (2017-2030)
- 17.7. Market Revenue, by Age Group (2017-2030)
- 17.8. Market Volume, by Distribution Channel (2017-2030)
- 17.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Volume, by Product (2017-2030)
- 18.3. Market Revenue, by Product (2017-2030)
- 18.4. Market Volume, by Gender (2017-2030)
- 18.5. Market Revenue, by Gender (2017-2030)
- 18.6. Market Volume, by Age Group (2017-2030)
- 18.7. Market Revenue, by Age Group (2017-2030)
- 18.8. Market Volume, by Distribution Channel (2017-2030)
- 18.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Volume, by Product (2017-2030)
- 19.3. Market Revenue, by Product (2017-2030)
- 19.4. Market Volume, by Gender (2017-2030)
- 19.5. Market Revenue, by Gender (2017-2030)
- 19.6. Market Volume, by Age Group (2017-2030)
- 19.7. Market Revenue, by Age Group (2017-2030)
- 19.8. Market Volume, by Distribution Channel (2017-2030)
- 19.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Volume, by Product (2017-2030)
- 20.3. Market Revenue, by Product (2017-2030)
- 20.4. Market Volume, by Gender (2017-2030)
- 20.5. Market Revenue, by Gender (2017-2030)
- 20.6. Market Volume, by Age Group (2017-2030)
- 20.7. Market Revenue, by Age Group (2017-2030)
- 20.8. Market Volume, by Distribution Channel (2017-2030)
- 20.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Volume, by Product (2017-2030)
- 21.3. Market Revenue, by Product (2017-2030)
- 21.4. Market Volume, by Gender (2017-2030)
- 21.5. Market Revenue, by Gender (2017-2030)
- 21.6. Market Volume, by Age Group (2017-2030)
- 21.7. Market Revenue, by Age Group (2017-2030)
- 21.8. Market Volume, by Distribution Channel (2017-2030)
- 21.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Volume, by Product (2017-2030)
- 22.3. Market Revenue, by Product (2017-2030)
- 22.4. Market Volume, by Gender (2017-2030)
- 22.5. Market Revenue, by Gender (2017-2030)
- 22.6. Market Volume, by Age Group (2017-2030)
- 22.7. Market Revenue, by Age Group (2017-2030)
- 22.8. Market Volume, by Distribution Channel (2017-2030)
- 22.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Volume, by Product (2017-2030)
- 23.3. Market Revenue, by Product (2017-2030)
- 23.4. Market Volume, by Gender (2017-2030)
- 23.5. Market Revenue, by Gender (2017-2030)
- 23.6. Market Volume, by Age Group (2017-2030)
- 23.7. Market Revenue, by Age Group (2017-2030)
- 23.8. Market Volume, by Distribution Channel (2017-2030)
- 23.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Volume, by Product (2017-2030)
- 24.3. Market Revenue, by Product (2017-2030)
- 24.4. Market Volume, by Gender (2017-2030)
- 24.5. Market Revenue, by Gender (2017-2030)
- 24.6. Market Volume, by Age Group (2017-2030)
- 24.7. Market Revenue, by Age Group (2017-2030)
- 24.8. Market Volume, by Distribution Channel (2017-2030)
- 24.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Volume, by Product (2017-2030)
- 25.3. Market Revenue, by Product (2017-2030)
- 25.4. Market Volume, by Gender (2017-2030)
- 25.5. Market Revenue, by Gender (2017-2030)
- 25.6. Market Volume, by Age Group (2017-2030)
- 25.7. Market Revenue, by Age Group (2017-2030)
- 25.8. Market Volume, by Distribution Channel (2017-2030)
- 25.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Volume, by Product (2017-2030)
- 26.3. Market Revenue, by Product (2017-2030)
- 26.4. Market Volume, by Gender (2017-2030)
- 26.5. Market Revenue, by Gender (2017-2030)
- 26.6. Market Volume, by Age Group (2017-2030)
- 26.7. Market Revenue, by Age Group (2017-2030)
- 26.8. Market Volume, by Distribution Channel (2017-2030)
- 26.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Volume, by Product (2017-2030)
- 27.3. Market Revenue, by Product (2017-2030)
- 27.4. Market Volume, by Gender (2017-2030)
- 27.5. Market Revenue, by Gender (2017-2030)
- 27.6. Market Volume, by Age Group (2017-2030)
- 27.7. Market Revenue, by Age Group (2017-2030)
- 27.8. Market Volume, by Distribution Channel (2017-2030)
- 27.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Volume, by Product (2017-2030)
- 28.3. Market Revenue, by Product (2017-2030)
- 28.4. Market Volume, by Gender (2017-2030)
- 28.5. Market Revenue, by Gender (2017-2030)
- 28.6. Market Volume, by Age Group (2017-2030)
- 28.7. Market Revenue, by Age Group (2017-2030)
- 28.8. Market Volume, by Distribution Channel (2017-2030)
- 28.9. Market Revenue, by Distribution Channel (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. JUUL Labs Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. British American Tobacco plc
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Altria Group Inc.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Japan Tobacco Inc.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Imperial Brands plc
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Philip Morris International
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. NJOY LLC
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Turning Point Brands Inc.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Vapor Hub International Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. FIN Branding Group LLC
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. MCIG Inc.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports