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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.
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.
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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.
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%
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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.
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.
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 |
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.
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:
Global E-Cigarettes Market by Distribution Channel:
Global E-Cigarettes Market by Region:
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