E-Cigarette Market Size By Composition (Nicotine, Non-Nicotine), By Product (Disposable, Modular, Rechargeable), By Type (Automatic, Manual), By Distribution Channel (Hypermarket/Supermarket, Online, Vape Shops/Tobacconist), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jan 2020  |  Report ID: GMI4115  |  Authors: Ankita Bhutani, Saloni Gankar

Report Format: PDF   |   Pages: 220   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

E-Cigarette Market size exceeded USD 8 billion, globally in 2019 and is estimated to grow at around 2% CAGR between 2020 and 2026. The market growth is attributed to increasing government initiatives to implement indoor smoking bans, awareness campaigns about health risks, and prohibitive taxation to curb tobacco use across the globe.

Additionally, tobacco smoking is recognized as a major preventable cause of disease worldwide and is linked to six million deaths annually. The introduction of e-cigarettes has helped smokers to reduce health risks associated with traditional cigarettes owing to the absence of tobacco in these devices. They are being marketed as a less toxic and safe alternative to conventional cigarettes. Growing awareness regarding the harmful effects of tobacco smoke inhalation has led to e-cigarette market demand.

E-Cigarette Market

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Increasing technological advancements and new product innovations are propelling the electronic cigarette market growth. For instance, in August 2018, Kwit Stick, a South California-based e-cigarette manufacturer launched USB-rechargeable vaporizing cigs with four flavors of salt nicotine pods.

The new device includes charging cable with four flavor pods and a syringe bottle to aid with refills, allowing smokers to save cost and prevent additional waste. Such advancements are encouraging cigarette users to switch to vaporizing, helping the market to grow significantly. Moreover, changing consumer preferences, increasing number of vape stores, and availability of these devices in a wide variety of flavors & shapes are further propelling the market demand.

E-Cigarette Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 8 Billion
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 2% 2026 Value Projection: USD 9 Billion
Pages: 220 Tables, Charts & Figures: 250
Geographies covered (19): U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, Russia, China, Japan, Malaysia, Australia, South Korea, Mexico, Chile, Colombia, GCC, South Africa
Segments covered: Product, Composition, Type, and Distribution Channel
Companies covered (15): Ballantyne Brands, LLC, British American Tobacco PLC (BAT), Eleaf Group, FIN Branding Group, LLC, Gamucci Electronic Cigarettes, Imperial Brands PLC, International Vapor Group, LLC, Japan Tobacco Inc (JTI), JUUL Labs, Inc., Mojo Tech LLC, NicQuid LLC, NJOY, LLC, Philip Morris International Inc. (PMI), Shenzhen IVPS Technology Corporation Ltd. and Shenzhen Kanger Technology Co., Ltd.
Growth Drivers:
  • Technological advancements and product innovation
  • Growing health awareness of tobacco consumption and adoption of safe alternatives
  • Increasing promotional activities by vendors
  • Rise in demand for flavored e-cigarettes
  • Cost-effectiveness of disposable e-cigarette models
Pitfalls & Challenges:
  • Implementation of stringent government regulations on consumption and import
  • Risks associated with the use of vaping and reported incidents
  • Negative impact on health owing to high addiction of nicotine
  • Unorganized sector

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Higher flexibility of providing customization coupled with the availability in a variety of shapes and sizes increasing demand for modular e-cigarettes

U.S. e-cigarette market by product

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Modular e-cigarettes are expected to witness high growth in the U.S. market owing to their benefits of smaller size, lower cost, dense aerosol production, and flexibility to be used with different types of flavors. These devices contain refillable e-liquid tanks & customizable wattage and allow users to regulate the power delivered from system’s battery to the automizer.

Additionally, the availability of customization in vapor amount, e-liquid flavor choice, effective battery strength, and variable voltage offered by these devices are significant factors accelerating the e-cigarette market share. The increasing adoption of the cigarettes will provide significant opportunities to manufacturers, adding momentum to U.S. market growth.

Ban of nicotine e-cigarettes due to negative health impacts in the Asia Pacific market

Increasing health concerns related the consumption of nicotine containing products is encouraging users to shift to non-nicotine e-cigarettes. Nicotine is a toxic substance that raises blood pressure, spikes adrenaline and increases the possibility of a heart attack in adults. Several federal and state health authorities are indicating that exposure to nicotine during adolescence can cause addiction and harm the developing brain.

E-cigarettes containing nicotine have considered as a drug delivery device and have been banned in various countries including Japan, Sweden, Malaysia and Australia. With rising health and safety concerns of nicotine-containing e-liquid, the manufacturers are focusing on offering with 0% nicotine strength. Moreover, the usage of low-quality products can lead to throat irritation and other health issues.

Enhanced smoking experience and attractive design are driving adoption of automatic e-cigarettes

Global e-cigarette market by type

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Automatic devices are powered by drag and include a built-in switch that activates each time a user draws on the e-cigarette. It allows smokers to have quick smoke by eliminating buttons, complicated mods or dripping.

Another advantage of using automatic e-cigarettes is the possibility to hold charge 25% longer than a manual battery. Several companies are focusing on providing more convenience in cleaning and maintenance of these cigarettes along with attractive designs to make them more appealing to smokers. Moreover, automatic cigarettes enable low-energy consumption and allow users to vape for a longer period between charging.

Growing popularity of online channels and convenience of purchasing products online

The emerging trend toward e-commerce, online retailing is encouraging smokers to purchase these solutions from e-commerce websites. Online shopping offers flexibility and convenience in selecting desired solutions from a wide range of alternatives. Moreover, these sites offer varied product pricing, letting users to get offers and discounts on their purchases.

For instance, Gearbest.com. offers a wide range of e-cigarettes with discounts, gift boxes, and other payment options to buy products, attracting a large customer base. These e-commerce websites offer products of different brands, enhancing customer’s customized requirements. It is being witnessed that e-cigarette users are favoring in-store shopping for accessories such as cases, adapters, chargers, replacement coils, spare parts, and batteries while they are shopping for e-cigarettes through online retailers.

Presence of leading e-cigarette brands and rising number of vape shops in Europe

Europe e-cigarette market by country

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The Europe e-cigarette market will register high gains during the forecast timespan due to largest smoking population present in countries including the UK, Germany, France, Italy, and Spain.

According to the Annual Population Survey (APS), in 2018, there were around 7.4 million people, which smoked cigarettes in the UK. Several leading e-cigarette companies from the U.S. and China are focusing on penetrating the market to leverage the opportunity presented by a large consumer base.

For instance, in November 2019, Juul Labs, Inc, an American vape company announced its plan to expand its presence in Europe for increasing its international product sales. Moreover, the increasing number of vape shops and new products launched by manufacturers to streamline and enrich the experience of e-cigarette smokers across the country will drive market growth.

Adoption of merger & acquisition strategies by industry players

Players operating in the e-cigarette market are adopting several strategies, such as mergers & acquisitions, new product launches, and technological advancements, to enhance their offerings and target a wider customer base.

For instance, in July 2017, BAT announced the acquisition of Reynolds American Inc., an American tobacco company at USD 54.5 billion. The acquisition was aimed at enhancing its t-vapor and tobacco product portfolio. The company also showed interest in acquiring the South African e-cigarette manufacturer Twisp to expand its product offerings in South Africa.

Similarly, in November 2017, Imperial Brands PLC announced to acquire Nerudia Limited, a vaping products provider based in the UK for expanding offerings of its next-generation product.

Some of the major companies operating in the market are British American Tobacco (BAT), Healthier Choices Management Corp., Imperial Brands PLC, Turning Point Brands Inc., Japan Tobacco Inc, JUUL Labs, Inc, MCIG Inc, Nicotek, LLC, NicQuid, LLC, Njoy Inc, Philip Morris International, Reynolds American Inc, and Shenzhen IVPS Technology Co., Ltd.

The electronic cigarette market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD from 2016 to 2026, for the following segments:

Market by Composition

  • Nicotine
  • Non-Nicotine

Market by Product

  • Disposable
  • Modular
  • Rechargeable

Market by Type

  • Automatic
  • Manual

Market by Distribution Channel

  • Distribution Channel
  • Hypermarket/supermarket
  • Online
  • Vape shops/tobacconist         
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
    • Russia
  • Asia Pacific
    • China
    • Japan
    • Malaysia
    • Australia
    • South Korea
  • Latin America
    • Mexico
    • Chile
    • Colombia
  • MEA
    • GCC
    • South Africa

Frequently Asked Questions (FAQ) :

The Europe market growth during the forecast timespan is due to presence of largest smoking population in countries including the UK, Germany, France, Italy, and Spain.
Some of the major companies operating in the industry are British American Tobacco (BAT), Healthier Choices Management Corp., Imperial Brands PLC, Turning Point Brands Inc., Japan Tobacco Inc, JUUL Labs, Inc, MCIG Inc, Nicotek, LLC, NicQuid, LLC, Njoy Inc, Philip Morris International, Reynolds American Inc, and Shenzhen IVPS Technology Co., Ltd.
The modular e-cigarettes accounts for majority of the U.S. market share owing to their benefits of smaller size, lower cost, dense aerosol production, and flexibility to be used with different types of flavors.

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