E-Cigarette Market Size

E-Cigarette Market Size

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

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. Growing awareness regarding the harmful effects of tobacco smoke inhalation has led to market growth.

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Increasing technological advancements and new product innovations are propelling the e-cigarette industry growth. Moreover, changing consumer preferences, increasing number of vape stores, and availability of these devices in a wide variety of flavors & shapes are further boosting the market demand.