E-Cigarettes Market

E-Cigarettes Market Size by Product Type (Disposable, Rechargeable and Modular), Distribution Channel (Retail and Online), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14447
  • Published Date: Jun, 2024
  • Pages: 231
  • Category: Consumer Goods
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The global e-cigarettes market was valued at USD 18 billion in 2023 and grew at a CAGR of 15% from 2024 to 2033. The market is expected to reach USD 72.82 billion by 2033. The growing popularity of e-cigarettes as opposed to traditional cigarettes will drive the growth of the global e-cigarettes market.

Market Introduction:

E-cigarettes are electronic devices that are operated on batteries. This energy from the battery is used to convert the vape juice which in a liquid into vapour. This vapour is an aerosol that is then inhaled by the users. E-cigarettes can take various forms. They are disposable, rechargeable and customizable. The vape juice of the liquid content of an e-cigarette contains nicotine, propylene gel and vegetable glycerine. Nicotine is found in traditional cigarettes and is an essential component of e-cigarettes to give a similar feeling to the user. Propylene gel imitates the hit that traditional cigarettes offer to the user in their throat. Vegetable glycerine contributes to enhanced vapour production. E-cigarettes have become popular amongst users who want to quit smoking. It is also referred given the reduced smoke it generates compared to traditional cigarettes. Despite they being used as an alternative to quit smoking, they are considered to be equally addictive and harmful for the users in the long run. The flavoured nature of e-cigarettes adds to their appeal amongst users.

E-Cigarettes Market Size

Get an overview of this study by requesting a free sample

Recent Development
  • Value Excellence Technology introduced a vaporizer brand called LUCKY KISS that is specifically designed for ladies after shrewdly identifying market demands. After doing extensive research, the company found that "LUCKY" is especially favored by female customers, and "KISS" represents the satisfying feeling of the e-cigarette hitting your lips. The name LUCKY KISS was born out of this realization. LUCKY KISS's first product, the LK-600, has been created to a high degree of success. This cutting-edge product, with its unique design and useful usage approach, is geared especially for young female consumers. It seeks to establish a profound emotional connection and resonance with its audience.

Market Dynamics:


They have become the preferred alternative to traditional cigarettes – The known and scientifically backed evidence that smoking cigarettes is extremely harmful for the users has led to people looking for alternatives. This is a two-fold process. Firstly, the governments of many countries are implementing a blanket or a partial ban on cigarettes and this has led to users and manufactures looking towards alternatives like e-cigarettes. Furthermore, a perception has developed amongst users that e-cigarettes are safer alternatives to cigarettes which has led to people switching to e-cigarettes. additionally, there has been a growing incidence of teenagers or adolescents inhaling these substances as it is considered to be cool, modern and trendy. The experimentation of inhaling e-cigarettes or vaping leads to many of these youngsters getting addicted to it. the growing availability and accessibility of e-cigarettes also contributes to the market’s growth. therefore, the growing popularity, availability and accessibility of e-cigarettes will drive the market’s growth.


The short and long-term health risks E-cigarettes are perceived to be a safer alternative to traditional cigarettes, but they carry significant health risks given the content of the vape juice. The most notable risk of e-cigarettes is that they can be highly addictive just like traditional cigarettes given the nicotine content in them. the addiction leads to increased consumption and causes irreparable physical, mental and psychological damage. the physical damage it can cause are related mostly to lung given the inhalation of harmful substances. It can cause lung inflammation and can also lead to chronic lung diseases in some cases. It can also lead to several cardiovascular problems. The relatively new market of e-cigarettes has led to manufacturers exploiting given the lack of studies and understanding about e-cigarettes and their long-term health risks. Therefore, the health risks associated with the consumption of e-cigarettes will hamper the market’s growth.


The increasing popularity of e-cigarettes among youngsters – The stringent regulatory pressure on traditional cigarettes like ban or higher taxes make e-cigarettes a cheaper alternative in youngsters with relatively less income. E-cigarettes are reusable and last longer. The flavours and customization offered by e-cigarettes adds to its appeal in the market and increases its demand. The trendy and cool social quotient offered by participating in vaping amongst youngsters draws in more consumers, further contributing to the market’s growth. social media adds to this increasing popularity leading to more consumers and increased demand.  Therefore, the regulatory guidelines, better costing, customization and appeal of e-cigarettes will contribute to the market’s growth.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global e-cigarettes market, with a 42% market revenue share in 2023.

The first region where e-cigarettes were sold and purchased commercially leading to it becoming a well-established market for e-cigarette production, distribution and consumption. The early entry and market acceptance led to innovation with introduction of better technologies, flavours and product designs. The lenient regulatory environment also augments the market’s growth. the extensive consumption of cigarettes across all age groups also facilitates the market’s expansion. The marketing initiatives leading the way for better accessibility to e-cigarettes also contributes to the market’s growth.

North America Region E-Cigarettes Market Share in 2023 - 42%



Check the geographical analysis of this market by requesting a free sample

Product Type Segment Analysis

The product type segment is divided into disposable, rechargeable and modular. The rechargeable segment dominated the market, with a market share of around 55% in 2023. Rechargeable e-cigarettes as the name suggests have a rechargeable battery which means they are long-lasting product and therefore a cost-effective one. The rechargeable nature also means that it would not lead to interruptions in vaping sessions as there is no need to buy a new one. These products also offer other features providing controls to the users in terms of the percentage of contents in the vape leading to greater customization freedom. this adds to allure/appeals of rechargeable e-cigarettes. they are high-end products with better performance and quality. these products also contribute to environmental sustainability as they can be used for a long time, thereby reducing waste.

Distribution channel Segment Analysis

The distribution channel segment is divided into retail and online. The retail segment dominated the market, with a market share of around 67% in 2023. Retail distribution has an extensive chain of distribution networks with vape shops, convenience stores and gas stations offering wider accessibility to consumers. vaping offers instant gratification and retail outlets facilitate that compared to online distribution which might take days. Retail distribution allows consumers to physically authenticate the products and check their quality which facilitates informed decision making and increased trust. These stores have staff that can offer the necessary or other information to consumers. these stores enable regulatory authorities to better regulate the market as physical verification of age of consumers ensures that young children do not consume these substances.

Some of the Key Market Players:
  • VMR Flavors LLC
  • Reynolds American Inc.
  • Philip Morris International Inc.
  • Njoy Inc.
  • NicotekLlc
  • Japan Tobacco
  • International Vapor Group
  • Imperial Brands
  • British American Tobacco
  • Altria Group

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 18 Billion
Market size value in 2033 USD 72.82 Billion
CAGR (2024 to 2033) 15%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level.
Segments Product Type and Distribution Channel

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global E-cigarettes market was valued at USD 18 billion in 2023 to USD 72.82 billion by 2033.

Global E-cigarettes market is growing at a CAGR of 15% during the forecast period 2024-2033.

The market's growth will be influenced as they have become the preferred alternative to traditional cigarettes.

The short and long-term health risks could hamper the market growth.

Request Table of Content


This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global E-cigarettes market based on below mentioned segments:

Global E-Cigarettes Market by Product Type:

  • Disposable
  • Rechargeable
  • Modular

Global E-Cigarettes Market by Distribution Channel:

  • Retail
  • Online

Global E-Cigarettes Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa


Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:


Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

Some Facts About The Brainy Insights


Free Customization


Fortune 500 Clients


Free Yearly Update On Purchase Of Multi/Corporate License


Companies Served Till Date